How CA & ACCA Qualifications Open Up Career Opportunities

September 29, 2022
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ACCA

There are several ACCA employment options available worldwide. Apart from being an accountant, an ACCA professional can work as a management consultant, financial planner, and so on.
It is not possible for ACCA to audit in India. This is because ACCA India has no signing authority and therefore cannot mark its signature on audit reports. Nor can he set up his own auditing firm. However, an ACCA India professional can carry out audit work in the UK.

CA

A well-qualified Chartered Accountant plays a vital role and handles various financial responsibilities in a business. They provide audit and assurance, tax advisory, accounting services, accounting, finance outsourcing, and financial reporting.
Almost every registered company or firm under the Companies Act has a CA to manage various tasks such as financial controllers, financial managers, financial advisors, or directors and audit their accounts.
There are several job opportunities for interested individuals who complete the course. Additionally, aspiring professionals can either work in a firm or even start their own private practice if they wish.

Employment Opportunities and salary for CA and ACCA in India

ACCA
ACCA employment opportunities in India have increased exponentially over the past few years. With the growth of more and more MNCs and Big 4 companies, there has been a surge in jobs for ACCA professionals.
Likewise, as more and more students become aware of ACCA and its benefits, the demand for the industry certification exam has increased.
It is expected that India might quickly rank among the major worldwide markets for ACCA. As a result, the Indian economy is moving toward growth and globalization. Because of this, even MNCs and larger international companies are turning to India for professional accountants and financial experts.
In India, the salary of an ACCA is almost equivalent to the salary of a CA professional. An ACCA-qualified individual can earn an average salary of up to INR 8 p.a. The pay scale generally ranges between INR 4 lac p.a. Up to INR 15 lac p.a. It could go higher, depending on the candidate's skills, company requirements, competition, etc.
CA
According to recent studies, the number of CA career opportunities in the manufacturing and financial services sectors is growing rapidly. If you are interested in making your career in Charter Accountancy, find the best CA Final Online Test Series. Some numerous institutes and professionals offer this course to beginning individuals. All you have to do is find the ideal one and start studying.
There are many areas that provide job opportunities for CA. For example, they can work in the ranks of financial reporters, financial strategists, investment advisors, M&A advisors, etc. Some of these areas are discussed here.
  • Goods and services tax
Since the introduction of the Goods and Services Tax (GST) in India, the job opportunities for a Chartered Accountant who is well-versed in the new tax system have increased considerably. Providing GST services is a lucrative business for CAs and can easily be set up as a business.
  • Internal audit
The demand for internal auditors is increasing due to the increase in rules and regulations for companies. There is a need for auditors to examine records, procedures, documentation, and verification of assets and liabilities. For CAs, working for internal audit companies may be quite beneficial.
  • Taxation
There are a large number of CAs that help individuals and businesses with their taxation. They audit their client's businesses and provide an efficient tax structure based on their audit. This area continues to see growth as the number of taxpayers in India increases.
  • Wealth Management
Wealth Management is a financial and investment advisory, tax service, accounting, and retirement planning service. Property management as a profession has seen an increase in demand and can be easily handled by CAs who are well versed in finance and management.
  • Start-ups
As the number of start-ups in India increases, so does the demand for managing the finances of these new companies. Working with these start-ups Chartered Accountants can find new career opportunities for growth in these new concept businesses.
  • Mergers and acquisitions
CA manages its clients' M&A cases as counsel. Their roles include assessing the viability of acquiring or selling businesses based on an assessment of their performance. The position is a senior position that can provide many new opportunities for growth.
The average annual salary of a CA in India starts from 6-7 Lakh rupees and can go up to 40 Lakhs. Most of the highest CA salaries in India are paid by the Big 4 companies along with companies that operate in the manufacturing segment.

Which companies are hiring ACCA and CAs in India?

ACCA 
ACCA-qualified individuals are easily placed in Big 4 firms such as EY, PwC, Deloitte, and KPMG. MNCs including Tata Grant Thornton, Embassy Group, and PepsiCo are also recruiting ACCA India professionals. In addition, Accenture, HSBC, and Shalimar Paints are also looking for ACCA-certified accountants.
ACCA currently has over 180,000 members and around 490,000 students from over 170 countries. As ACCA grows in popularity, we can see more enrolments and employment opportunities for the qualification.
ACCA is also very popular as it provides comprehensive knowledge of IFRS (International Financial Reporting Standards) which again is useful all over the world. That is why the scope of ACCA is vast and offers employment opportunities not only in India but all over the world.
CA 
Chartered Accountant is a widely demanded profession in India. CAs have several options, from entrepreneurship to working in private firms to working with government agencies. Moreover, there is a lot of security and scope for Chartered Accountants in India for many reasons, such as the provision that every registered firm is required under the Companies Act to appoint a CA to manage various financial aspects.
Chartered Accountant jobs in the private sector differ significantly depending on the organization and the city. Larger organizations provide more career opportunities and specialized skill sets. Keeping pace with new and upcoming technologies and practices also dictates expansion for CPAs.
Moreover, the scope and job opportunities for CA in India is vast. They are in demand in all industries and, as a result, have a wide range of options.
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