MBA with ACCA: Why it’s a winning combination

Both are higher education qualifications with an illustrious reputation.

Both have established many successful and lucrative careers.

Both enjoy a stellar reputation among industry leaders, peers and recruiters.

So who says you have to choose one or the other?

The MBA in accounting and finance is a traditionally approved, time-tested qualification. Candidates with an MBA are always preferred by recruiters. However, as the quantity of MBA professionals continues to rise, the number of job positions is outnumbered by applicants. You need an added advantage that edges out your competition and brings your resume to the notice of potential employers.

The ACCA certification has increased in demand over recent years and firmly established itself as a reputed and distinguished designation. The syllabus is a perfect balance between technical knowledge and practical skills. ACCA students develop a well-rounded approach to learning accounting from a global perspective.

So what happens when you combine an MBA with an ACCA?

Together, they make you an unstoppable force in the finance and accounting industry. But don’t take our word for it. Keep reading to find out why it makes perfect sense for your career to enhance your MBA with an ACCA.

About MBA finance and accounting

The MBA degree is coveted as the ultimate prize in the finance industry. The program is a two-year postgraduate degree that teaches various topics within the field of finance and accounting. Students learn about managerial economics, financial management, business law, banking and financial accounting.

Graduates who have received an average grade of 50 per cent from a recognised university can apply for the MBA entrance exams, such as CAT, CMAT, SNAP and XAT. The students who get high marks in these exams are called for interviews by top schools. However, over 5,000 colleges in India offer the MBA finance course. Due to the number of options, the fees for an MBA finance course range from Rs 20,000 to over Rs 40 lakhs. This is a big investment, but it pays off if you get the right job.

Also Read – The ACCA Syllabus – All Levels Explained In Detail

6 Reasons why an MBA with ACCA is a good idea

While the MBA is a feather in your cap and can help you set foot in the finance industry, an ACCA will help you further your career. The course offers the most prestigious certifications in the world. With over 241,000 members spread across 180 countries, the future of accounting lies in this elite membership of ACCA holders.

So, how will it enhance your MBA degree? Let’s find out.

1. Unlocks global opportunities

While an MBA is a very respected qualification all over the world, it doesn’t always have the same impact when you cross borders. An Indian degree may not have much worth in other countries, especially if you’ve graduated from a tier-two or tier-three B-school. The ACCA certification, on the other hand, has universal value. On the last count, it is recognised in nearly 180 countries, including the UK, Australia, Canada, Singapore, Hong Kong and Germany. When job postings open in these nations, or when global companies set up offices in India, the MBA with an ACCA stamp on your resume gets you acknowledged as a global professional.

2. MBA professionals get ACCA exam exemptions

You’ve completed an intensive two-year MBA program, just received your degree and are ready to start working. Studying for 13 new subjects in the ACCA sounds exhausting. But what if we told you that you could be exempt for up to 9 subjects? You may only have to sit for five papers, and once you clear them, you have two powerhouse qualifications, an MBA with ACCA, attached to your name. The career-rich rewards are worth it.

3. The ACCA syllabus includes real-world skills

The MBA curriculum offers a wide understanding of the finance and accounting industry. The ACCA course builds on your existing knowledge and helps you delve deeper into accounting. The program also helps you develop practical skills in financial and management accounting. The advantage of this is that you can move between different job profiles as your career evolves. Just another advantage of an MBA with an ACCA certification.

Also Read – Are you eligible for an ACCA exemption?

4. Get access to better-paying jobs

The ACCA course transforms students into analytical thinkers with strong statistical skills. Combined that with the leadership qualities and management skills of an MBA holder, you are well on your way to earning big bucks in the finance industry. The top jobs with high remuneration go to well-educated individuals with the most impressive abilities, such as an MBA with ACCA certification.

5. ACCA has flexible exams

If you are worried about doing your MBA with ACCA, don’t. The ACCA course is highly flexible, and you can work around your busy schedule. Besides, the two programs complement each other so you can grasp and apply the concepts better.

6. An MBA with ACCA opens up more job profiles

Your double certification helps you gain a profound understanding of accounting standards, business strategy, industry acumen and financial management. It also opens you up to various positions in areas such as risk management, tax planning, investment banking and many others. You are also on track to reach leadership designations such as chief financial officer and accounting director.

Also Read – What is the cost of doing ACCA in India? ACCA Fees structure

Proschool can help you get an ACCA certification

You can study for the ACCA on your own, or enrol with Proschool’s exceptional ACCA Prep Course. Here’s why the latter makes so much more sense. As one of India’s leading coaching institutes, Proschool is also an ACCA-approved learning partner. The experienced staff helps to break down complex theories and make connections with real-world scenarios. The school believes in innovative learning methods and practical training techniques to help students master the course. The GPA program includes special interpersonal skills and financial modelling and helps you learn so much more than just the ACCA syllabus. As an MBA degree holder, you already have a strong work ethic and an awareness of the finance industry. Proschool helps you reach another level of your education, making you a highly sought-after hire for some of India’s top companies.

Highlights of the GPA course:

• The course is taught by expert industry professionals.
• Multiple coaching centres and online classes are available.
• Proschool offers additional resources such as study prep books, online learning videos, mock tests and 2,000 practice papers.
• Students learn valuable industry-centric skills such as financial modelling.
• Students also receive training in interview-based techniques and resume writing.
• Proschool’s placement portal helps certified individuals find suitable jobs in their fields.

How to get an MBA with an ACCA

After you complete your MBA, you can apply for the ACCA program. Here’s how to go about it.

• Sign up with an approved learning partner, such as IMS Proschool, and they will help you manage your time and learn the concepts quickly.
• If you have a job, you can attend weekend classes or take online sessions for ACCA.
• As an MBA, you can apply for up to nine exam exemptions, cutting down the ACCA workload considerably.
• The ACCA program has a very flexible structure. You can give one to four exams during one session. It is up to you.

FAQs

1. What is the salary of a professional who has an MBA with ACCA in India?

The pay packages depend on the type of company, the location, the B-school you graduated from, and your negotiation skills. Having two certifications will help you get a better deal. You could possibly earn an average income of around Rs 10 to 15 lakhs. With more experience, this number will only get bigger.

2. Is it worth doing an MBA after ACCA?

Yes, it is worth it. While MBAs are still in demand, the number of professionals with this degree is quite large. When you apply for jobs, you compete with other MBA candidates. An ACCA qualification will help you stand out and possess more capabilities than the others.

3. What is the salary of an MBA plus ACCA professional in Dubai?

The average salary of an experienced professional in Dubai who has an MBA with an ACCA qualification is between AED 1,80,000 to AED 2,50,000. Again, this will vary depending on the company and your level of experience.

4. Which MBA is best with ACCA?

An MBA in finance and accounting will go well with an ACCA certification.

5. How many ACCA exams take place every year?

The exams take place four times a year. You can do a maximum of four papers in one sitting. The sessions occur in March, June, September and December.

6. What exemptions can I get if I have an MBA with ACCA certification?

An MBA degree can get you up to 9 exemptions. You can check with the official ACCA website for more details.

7. Is the ACCA equivalent to the MBA?

No. The ACCA is a global accounting certificate, while the MBA is a postgraduate degree. You can sign up for the ACCA course after your 12th year, but the MBA only permits candidates after graduation.

Conclusion

Make no mistake. The job market is going to get more and more crowded with MBA degree holders. An ACCA certification can make you stand out and look more impressive to potential recruiters. In today’s corporate climate, employers want savvy and adaptable professionals who learn on the job quickly. As a professional who has an MBA with an ACCA, you will be knowledgeable, skilful and well-equipped to take on any challenges.