12th-year commerce students, let’s plan your career in accountancy
Is this you?
You have just turned 18.
You don’t know what to do after the 12th commerce exams are over.
And you are a little confused about your future.
Welcome to adulthood. Your carefree school days are coming to an end. Yet, your parents’ nagging about your life is growing louder. This can get overwhelming for you. People have stopped asking you what you want to be when you grow up. Instead, they want to see you grown up and ready with a plan.
As a commerce student, you may already have an inkling of where your interests lie. You may have already done some research about the ACCA certification. Or perhaps, your curiosity is directed toward the CA course. If you are seriously considering a future in accountancy, but are confused about your options, stay on this page. Here below is some perspective to help you get sorted.
Accounting courses after 12th-year commerce
So you want to be an accountant. Good choice. Here are a few prominent courses to apply for after finishing your 12th year of college.
The Institute of Chartered Accountants in India (ICAI) is a respected organization that offers the chartered accountancy course for students in the 12th year and up. After becoming a CA, you are eligible for job positions such as finance manager, tax auditor or controller.
The Institute of Cost Management Accountants of India offers a course in cost accounting to students after their 12th year. On the completion of the program, you can become a cost accountant for different types of companies.
3. BBA in finance and accounting
This is a three-year management degree course for undergraduate students. After graduation, students can get jobs as corporate controllers, investment bankers or accounting managers.
The Association of Chartered Certified Accountants institute in the UK offers a course on becoming a certified chartered accountant to undergrad students. After the program is over, you can start your career as a management accountant, business advisor, forensic accountant or treasurer.
Why ACCA is the perfect course for you
While all of the above courses have their merits, the ACCA is designed to offer students a comprehensive and detailed syllabus containing all the relevant topics in accountancy. The course opens up several opportunities for certificate holders to explore. Here are a few more advantages that stem from becoming an ACCA professional.
The ACCA is recognized by the big 4 firms and major MNCs
You read that right. If joining one of the big 4 accountancy firms has been your lifelong dream, an ACCA certification can get you there. The course offers intensive knowledge, real-world applications and the latest developments in the world of finance and accounting. It prepares you to adapt to the high-pressure, fast-paced environment of the big 4. You don’t need much on-the-job training, and you are well equipped to make your mark in the company.
The big 4, along with other MNCs and large financing companies are well aware of the benefits of hiring an ACCA professional. They are known to post job openings on the ACCA official website and employ candidates who list the certificate on their resumes. Your qualification is key to opening doors in your dream organization. Whether you’re hoping to get into Ernst & Young, Deloitte, KPMG or PriceWaterhouseCoopers.
There are several career opportunities you can pursue
As we mentioned earlier, the ACCA course offers a detailed, in-depth education in accounting. This ensures you are qualified to apply for a number of job profiles within the industry. Some of the job profiles you are certified for include:
- Management accountant
- Group accountant
- Business analyst
- Tax accountant
- Funds manager
- Credit control manager
The ACCA is the accounting standard in over 180 countries
Founded in the UK, the association has since spread around the world. So if you receive your certification in India, you are qualified to work as an ACCA professional in other countries. The quality of this course is on par with the global standards required for accounting. Multi-national companies with offices in different countries prefer to hire employers who can adapt to their way of functioning. An ACCA-certified employee will possess the right skills, training and industry-specific knowledge to work for these companies in India or any other country. If you are looking to migrate to the UK, Germany, Canada, Singapore or Australia, an ACCA certificate can help you get a job.
The course is flexible and will fit into your schedule
If you are worried about doing the ACCA course alongside your commerce degree, don’t be. The exam timeline is flexible to accommodate your busy life. As an undergraduate, you will be required to take 13 exams. However, the first four papers are computer-based exams and can be taken on demand, at any time of the year. The difficulty level for the first ACCA module will be on par with your first-year undergraduate exams. So you’ll be able to handle the workload and won’t have to stretch yourself thin to prepare for them.
If you are working towards getting your degree, you can easily balance both courses. You can arrange to take these tests when your college work is at its lightest, or when you are on a break. The rest of the papers can be taken in four sessions that are spread across the year. You can choose one or up to four papers in one sitting. It is entirely up to you. This kind of leeway can help you plan which papers to focus on and when. It doesn’t add too much pressure to your current workload and you can prepare for papers when you have the time.
A reputed coaching institute can help you pass with flying colours
You can choose to study for the ACCA exams yourself. Or, you could register with a coaching institute. If you opt for the latter, you can choose online classes or visit your nearest centre. These classes will help you plan and prepare for the course in a way that doesn’t disrupt your already busy schedule. They will help you clear all your doubts, strengthen your basic concepts and take mock tests to ensure you know your material well.
CA v/s ACCA — a comparison of two career options after 12th commerce
|Reputation||The CA is a traditional accountancy course revered in India||The ACCA is a globally renowned qualification that sets the international benchmark for accountants|
|Course duration||It would take 5 years for a student to clear the exams on the first attempt and finish the articleship. Most students take 6-7 years to qualify as chartered accountants.||ACCA students can finish the course along with their work requirements in 3-5 years|
|Exam difficulty||The CA exams follow the group system. Group 1 and group 2 both have four papers each. If you fail one exam, you fail the entire group and have to repeat all papers. This is true even if you fail by just one mark.||ACCA allows you to choose how many exams you want to take in one session. There is no group system here.|
|Mandatory work requirement||CA students have to apply for an articleship and work with an accountancy firm for three years before taking their final exam.||ACCA students also need to complete three years of work experience. They can do it before or after sitting for the exams.|
Did you know about the GPA program?
The Global Professional Accountant (GPA) combines the ACCA curriculum with other relevant courses to give you an edge in the industry. This is an exclusive opportunity to enhance your skills and training. Here are some of the highlights:
- You qualify for the ACCA course and financial modeling
- You receive a certification from the National Skills Development Corporation (NSDC)
- You learn with real-world learning methodologies that allows you to apply your knowledge efficiently
- The program gives each student a sense of confidence and professionalism as they pick up valuable interpersonal skills
- There are placement opportunities to help you start your career
If you are determined to become an accountant, there are many options after the 12th-commerce exams. The ACCA is one of the best professional courses with many lucrative opportunities that can lead to a successful, fulfilling career. If this is the path for you, don’t wait any longer. Sign up for the course today.