Top 5 Foreign Accounting Courses That Can Make You Rich and Respectable!

What happens when five college chums catch up after a long time? Well, they chill out, yaar!

That is precisely what Aarush, Divya, Gaurav, Ragini, and Rohan, did when they met five years after passing out of college. As college buddies who studied together and passed their XII Commerce, each of them then enrolled for a foreign accounting course, focused on their career, and settled in different locations across the world. They caught up in a reunion after a 5-year gap and shared each other’s successes.

Aarush, who pursued ACCA, works as a financial planner and lives in Dubai; Divya, who did CPA, works as a Corporate Controller in a Seattle-based blue chip company with worldwide operations; Gaurav, who did CMA, is Finance Director in a Navratna PSU in Mumbai; Ragini, who did CIMA, works as a Business Analyst in a tech firm in Bangalore; and Rohan, who did IFRS, works as an IFRS Expert in an MNC based in Chennai.

Tucking into crispy kebabs and succulent tikkis, with steaming hot coffee to go by, they talked about how the foreign accounting course of their choice had led to progress and prosperity in their lives…

Top 5 Foreign Accounting Courses

• ACCA – One of the Most In-demand Foreign Accounting Courses 

  • Overview

ACCA is the acronym for the Association of Chartered Certified Accountants. It is a globally recognized professional accounting body that offers qualifications and certifications for individuals aspiring to become versatile professionals in accounting and finance. Covering various aspects of finance, accounting, management, and taxation, ACCA will enlighten you with the nuances of financial reporting, audit and assurance, taxation, and more.

• • Eligibility for ACCA

• Candidates must have passed their class 10+2 from a recognized board
• Candidates must have scored 65% marks in 2 subjects out of five including Accounts and Mathematics, and minimum 50% in the remaining 3
• Higher secondary certificate holders must score over 130 marks from 200 to be eligible to take the ACCA 2023 course
• Candidates pursuing graduation in Commerce i.e. B.Com, BBA, BMS are also eligible to take up ACCA exams
• BA/B.Sc. graduates from a recognized university can also take up the ACCA course, but they will have to take the ACCA Foundation diploma first

  •  Exam Structure

There are three milestones in the journey to gaining an ACCA membership viz: 

• ACCA exams
• An Ethics and Professional Skills module
• A Practical Experience Requirement

ACCA Exams comprise three levels viz Applied Knowledge Exam, Applied Skills Exam, and Strategic Professional Exam.

Applied Knowledge Exam comprises:

• Business and Technology (BT)
• Financial Accounting (FA)
• Management Accounting (MA)

Applied Skills Exam consists of:

• Corporate and Business Law (LW)
• Taxation (TX)
• Financial Reporting (FR)
• Performance Management (PM)
• Financial Management (FM)
• Audit and Assurance (AA)

Applied Strategic Professional Exam consists of:

• Strategic Business Reporting (SBR)
• Strategic Business Leader (SBL) 

  • Prepping Up

The Global Professional Accountant (GPA) course from IMS Proschool is a comprehensive program designed for students aspiring to pursue ACCA. It has a triple advantage: A strong focus on ACCA pass rate; additional skills like financial modeling to get you job-ready, and dedicated placement assistance.

So, not only do you get quality learning content and qualified faculty from the industry, but you also get an additional Financial Modeling certification, access to Job Portal and placement/internship assistance.

• • Who Should Do It?

Consider this: 

The ACCA pass rate is 60% whereas for CA it is 10%…

So if you have made up your mind to pursue an accounting career and you nurture global ambitions, then ACCA is just the course for you. 

• • Job Prospects

A salary of 28 LPA..? 

Well, no kidding. Just check out this link from Ambitionbox

Indeed, the ACCA qualification is a gateway of opportunities in 180 countries across the world and is associated with over 7,000 Approved Employers globally. Apart from the Big 4, ACCA candidates can land a cherished job with a plum salary in renowned MNCs as well as blue chip Indian organizations. 

• • Did You Know?

1. Rich Legacy – ACCA was founded in 1904 in the United Kingdom. It has a long and prestigious history, and over the years, it has evolved to meet the changing demands of the accounting profession.
2.  Living Abroad – Recognized in 180 countries, ACCA is, well, your passport to the world.  To be more specific, ACCA holders have signing authority in the UK, Australia, New Zealand, the UAE, Canada, and Malaysia. You can carve out a splendid career and reside in one of these advanced countries, enjoying high standards of living.
3. Open-access Policy – Anyone with the necessary qualifications can pursue the ACCA qualification, irrespective of their academic background.

•  CPA – A Foreign CA Course that Could Be Your Ticket to the USA!

  • Overview

US CPA – Certified Public Accountant is the title equivalent to an Indian CA (Chartered Accountant). Although predominantly pursued in the US, It has a worldwide acceptance and provides a strong foundation to students and professionals for careers in Accounting, Assurance, Tax Consulting, Business Consulting and Valuations.

• • How To Become A CPA

The 4 Es to be followed to become a CPA include:

• • • Education – Most states require 120 credits from college-level coursework and some states even require 150 credits. Some candidates may fill the required criteria with undergraduate degrees, however not all undergraduate degrees can help a candidate earn the required credits and a postgraduate degree may be required.

• • • Experience – Depending on the states’ requirements, the experience of 1-2 years is required to obtain a CPA license. Any CPA can verify your work experience.
    • Exam – This might be the most challenging area of the path to becoming a CPA. The examination consists of 4 papers and is generally completed by candidates within 9-12 months.
    • Ethics – A separate Ethics exam may be required by some states for obtaining the CPA license.

  • Eligibility, Elaborated

Educational requirement for examination –

Candidate must have:

 A bachelor’s degree or equivalent to enroll in the CPA certification program.

• 120-semester credits to enroll for examination. (1 year of education in India is equivalent to 30-semester credits) *

*Although there are some exceptions where extra credits are awarded to candidates in certain scenarios.

• • Exam Structure

Following are the steps that need to be followed in order to become a CPA (i.e clear the 4 sections of examination and obtain licensure):

1. ACADEMIC EVALUATION – Check academic requirements and make sure you are eligible to give the exam which depends from state to state.
2. APPLICATION TO TAKE THE EXAM – Post evaluation, fill out the necessary forms and submit your application
3. STUDY FOR THE EXAM – Create a study plan and study section-wise/ multiple sections together.
4. SCHEDULE THE EXAM – Receive an NTS (Notice to schedule) and schedule an exam at your chosen location well in advance.
5. TAKE THE EXAM – Take the exam on the notified date and complete all sections within 18 months of clearing the first section.
6. OBTAIN WORK EXPERIENCE – Most states require certain years of work experience (2 years in most cases) along with 150 Credits to obtain licensure.
7. OBTAIN LICENSURE – Apply for licensure within 3 years of passing all 4 sections and possessing the required work experience.
8. CPE TO MAINTAIN LICENSURE – Continuous professional education is required to maintain the CPA License which varies from state to state.

• • Prepping Up

Clearing the CPA exam requires extensive hard work and comprehension of all the necessary concepts of finance. One easy way that can help accelerate and make your preparation for the CPA exam effective is enrolling on a CPA professional course from IMS Proschool.

• • Job Prospects

Recognized worldwide, the CPA program can open up doors to opportunities in North America, Europe and Asia. Since CPA is a very prestigious and recognized qualification, all of the Big 4s and many other multinational organizations actively hire CPAs.

As a CPA, you can land creamy roles in top-notch corporations and work as a Finance Advisor, Investment Banker, Funds Manager, CFO, or Information Technology Auditor. Payscale suggests a CPA earns an average base salary of Rs 6,90,000/- year.

Now, isn’t that a cool package?!

• • Who Should Do It?

Are you a ‘numbers person’ who wants to take your accounting skills and passion to the next level? Does working and living in the United States excite you? If yes, then you must take the CPA exam and give wings to your career.

• • Did You Know?

1. Signing Authority – Only CPAs can legally sign documents that publicly traded companies must submit to the Securities and Exchange Commission.
2. Highly Demanded – US CPA is one of the most sought-after qualifications, which is globally recognized, well reputed, and has over 650,000 actively licensed members as per NASBA and over 430,000 members of the AICPA.
3. Credibility – Since CPA is the highest level of an accountant, they’re highly regarded and carry prestige.

• CMA – A Foreign Accounting Course That Rewards You with a $1,696 Return On Every Hour You Spend Studying! 

  • Overview

CMA is a professional financial certification offered by the Institute of Management Accountants (IMA), USA. The course is designed to help accountants and finance professionals gain specialized knowledge in the field of financial planning, analysis, control, decision support, and professional ethics.

• • Eligibility

• The candidate must have a bachelor’s degree or higher from a regionally accredited university or college
• The candidate must have two continuous years of professional experience in financial management or management accounting

  • Exam Structure

The CMA course focuses on developing a comprehensive understanding of the principles, skills, and practices of management accounting. To become a professional CMA, you need to clear the CMA exam, which consists of two parts. Part 1 broadly comprises Financial Reporting, Planning, Performance, and Control whereas Par 2 covers Strategic Financial Management.

• • Prepping Up

The CMA is a 500 – marks examination, in which you need to score a total of 360 or higher to pass the examination. IMA recently reported that the part 1 exam of CMA has a worldwide pass rate of 45%.

At IMS Proschool, we understand the gravity and the complexity in clearing the IMS exam. We provide students with comprehensive online video lectures, practice tests, study materials, and mock exams. Through these resources, students can gain the knowledge and skills they need to succeed on the CMA exam.  

• • Job Prospects

Some of the meaty roles a CMA can perform include:

•       Financial Analyst
•       Management Accountant
•       Senior Accountant
•       Cost Accountant
•       Financial Risk Manager
•       Corporate Controller

 Since CMAs have problem-solving skills, they often enjoy high-level job titles like Chief Financial Officer (CFO) or Chief Operating Officer (COO); they draw a handsome salary and experience fulfillment in their personal and social life.

• • Who Should Do It?

Do you aspire for a powerful, high-earning position in a prestigious organization? Well, if finance and accounting interests you, and executive leadership and business strategy excites you, then CMA is your right course pick. 

• • Did You Know

1. Key Roles – In its Global Salary Survey 2021, the IMA details the four main roles of the CMA: steward, operator, strategist, and catalyst.
2. Exciting Returns – As per an estimate made by the IMA, you could earn a $1,696 or higher return on every hour you spend studying!*
3. Data Mining – CMAs are taught how to gain actionable insights from data and use those insights to make far-fetching strategic business decisions 

• If Management Accounting Is Your Passion, CIMA is the Best Foreign Accounting Course with Global Prospects

  • Overview

The Chartered Institute of Management Accountants (CIMA) is more than just an ordinary accounting course. It is a holistic approach that provides theoretical knowledge, along with real-time case study training.

When certified as a CIMA accountant, you are considered a part of an elite community of professionals within the finance and accounting domain. Once you clear the course, you are ready to work as a verified chartered global management accountant.

• • Eligibility

Irrespective of whether you are a seasoned executive or a commerce student, this program is open to all, including:

•       Undergraduates
•       Graduates
•       Post Graduates
•       Professional Certificate Holders
•       Working Accountants

• • Exam Structure

There are four levels within the program that cover key topics across financial and management accounting viz Certificate Level, Operational Level,  Management level, and Strategic Level as per the following details:

1. The first level will have 4 objective-style exams
2. At the end of the remaining three levels, you will sit for 3 objective exams and 1 case study test
3. There are certain exemptions for students with degrees or certifications
4. Objective-style exams occur on a daily basis and can be taken anytime
5. The case study examination will take place four times a year

• • Prepping Up

One of the leading professional institutes in India, IMS Proschool has created the Global Management Accountant (GMA) course for students to take their careers to greater heights. This specially curated program is one of the fastest routes to a CIMA certification for undergrad students and graduates. The GMA course enhances CGMA curriculum by adding relevant tools and business management skills. It is a future-forward program that makes you a competent hire by the time you graduate.

• • Job Prospects

CIMA professionals are trained to understand not only the financial aspects of a business but also its overall operations and strategy, which make them ideal for managerial roles as well. The salaries for CIMA-qualified professionals at senior levels can start at £46,000, which can go in excess of £129,000. As per the ‘efinancialcareers’ survey, jobs specifying a CIMA qualification pay £66,000 per annum on average.

• • Who Should Do It?

Do you want to work as a Management Accountant, a Business Analyst, or a Project Manager and Finance Controller? Do you aspire to be the architect behind the competitiveness and agility drives rigorously pursued by organizations today? If your answers are in the affirmative, then CIMA is the natural choice for you.  

• •  Did You Know?

1. Lineage – CIMA (Chartered Institute of Management Accountants) established in the year 1919, is a globally recognized qualification for careers in Business & Finance
2. Global Scope – CIMA has more than 250,000 members working in around 180 countries.
3. Strong Collaborations – CIMA has more than 4500 training and recruitment partners across the globe.

• IFRS – The Foreign Accounting Course that Prepares You for the Top-notch MNCs 

  • Overview

The International Financial Reporting Standards, also known as the IFRS, is based on a set of accounting practices issued by the IASB or the International Accounting Standards Board. These guidelines ensure that organizations can conduct business seamlessly and efficiently around the world. Public companies create financial statements compliant with the IFRS rules to create corporate transparency and compatibility. The IFRS does away with inconsistencies and discrepancies. The board offer detailed specifications on how to maintain financial records and accounts. They ensure all business transactions run smoothly.

• • Eligibility

• Commerce graduates or postgraduates
• Students from professional courses like ACCA, MBA, CFP, CFA, etc.
• Accountants who are looking to upskill
• Any finance student who is looking for a job in financial reporting

  • Exam Structure

• 3-hour, 15 minutes written exam (single paper)
• 50% mandatory scoring in the paper
• The exam is held twice a year – in June and December
• Venue: ACCA’s exam centres
• The exam is split into 4 x 25 marks questions

  • Prepping Up

In association with the ACCA,, Proschool has created a highly acclaimed IFRS course. It is an immersive curriculum where students grasp the concepts of international accounting standards in an engaging and innovative manner. They are taught by industry experts and have access to a wide range of intelligent study resources.

• • Job Prospects

You can carve out a rewarding career as as a global accountant in one of the many Indian companies that have embraced IFRS, including Dr Reddys Laboratories, Bombay Dyeing, Wipro, NIIT, TATA Motors, and Infosys, among others.

• • Who Should Do It?

Are you an accounting or finance professional looking to enhance your chances of global employability with an industry-relevant certification? Then add more teeth to your resume with IFRS! It can also be your ticket to working in Singapore, Hong Kong or the European Union; 166 jurisdictions, including India, are presently profiled by the IFRS.  

• • Did You Know?

• IFRS is used by more than 25,000 from around 48,000 domestic listed organizations from 85 securities exchanges
• More than 1,000 companies from over 2,500 foreign listed companies use IFRS

Benefits of Foreign Accounting Courses

• Global Perspectives

Foreign accounting courses enable candidates to get exposure to international accounting practices, standards, and norms. Armed with this knowledge and skills, you can effectively and confidently carry out cross-border transactions.  

• Enhanced Employability

Employers having global operations are on the lookout for job seekers with foreign accounting courses, thus increasing your chances of getting a job with a plum package in a renowned MNC 

• Better Professional Development

As you can stay abreast of evolving accounting processes and practices, you can maximize your chances of finding respectable and rewarding employment with overseas firms.

IMS Proschool – The Right Choice for Success in Foreign Accounting Courses

• Upskilled 25,000+ Students

• Trained 10,000+ Employees

• More than 100 Expert Tutors

• Comprehensive Placement Program

• 15 Centers Across India

Aarush, Divya, Gaurav, Ragini & Rohan did the right thing after passing their 12th Commerce exam – they enrolled for a foreign accounting course of their choice and carved out a successful career.