Having an ACCA qualification can put you on a career path anywhere in the world. It’s a globally recognised achievement and can get you roles in top businesses, and give you the skills to set up on your own.
As ACCA is widely accepted as one of the best accountancy qualifications we wanted to reveal the roles that could be available to you once you’ve passed the course.
But first, what qualifications do you need to start ACCA?
If you’re just starting out, you can begin at Foundations level without any prior knowledge or experience. It starts at GCSE level and progresses up to the equivalent of the first year of a bachelor's degree.
You can start at the Applied Knowledge level if you are qualified to University entrance level. This is usually five GCSEs and two A-Levels, including Maths and English. If you’re AAT qualified you are exempt from this level and can start at Applied Skills.
Applied Skills is open to you if you’ve completed the Applied Knowledge exams, have achieved the ACCA Diploma in Accounting and Business (RQF Level 4), or have a relevant accounting or finance qualification at degree level.
The final level, Strategic Professional, can only be started if you’ve completed Applied Knowledge and Applied skills, or have been awarded exemptions due to other qualifications and experience.
Roles and salaries
With an ACCA qualification there are plenty of opportunities to further your career. Here’s a few options you might want to consider.
Financial Accountant
Financial accountants analyse financial information using cash flow statements and balance sheets. In this role you would also be responsible for preparing the organisation’s financial statements for external parties like tax and regulations authorities, creditors, shareholders and investors. You may also be expected to create business strategies to increase revenue and profit.
Tasks could include:
- Managing bank accounts
- Consolidating annual accounting statements
- Forecasting cash flow
- Developing policy for company treasury
- Preparing tax returns
- Managing finance teams
- Assisting auditors
- Reconciling balance sheets
- Preparing reports
- Managing supplier rebates
Average annual salary: £43,000 - £47,000*
Management Accountant
As a Management Accountant you would be responsible for recognising, measuring, assessing, and communicating the financial information of an organisation. You would be analysing critical organisational information and data that is used to assist the management in making important business decisions.
Although the role may seem similar to financial accountants, management accountants differ as they analyse information for the internal management of the organisation to help measure performance and the strategies employed.
Tasks could include:
- Preparing regular financial statements and accounts
- Monitoring spending, costs and budgets
- Analysing the company’s financial performance
- Forecasting and planning future spending and profits
- Recommending ways to reduce costs and increase profits
- Making business decisions with other managers
- Carrying out internal audits of various departments
- Providing external auditors with company reports and financial data
- Managing a team of accounting technicians and finance clerks
- Overseeing the company's payroll, credit control and bookkeeping systems
Average annual salary: £45,000 - £50,000*
Financial Crime Risk Analyst
Financial Crime Risk Analysts provide expert advice and support relating to financial crime risk, control and compliance. In this role you would work to ensure sound and responsible business practices and high ethical standards within the business, as well as the integrity of the products and services delivered to customers.
You would need to be a commercially aware communicator and be able to spot the potential risks to a project or business.
Tasks could include:
- Ensuring that financial crime risks are identified and reported quickly
- Assisting with developing and communicating standards and frameworks for mitigating financial crime risks
- Coordinating and reviewing financial crime risk assessments
- Conducting investigations including potential financial crime cases
- Making decisions and recommendations on appropriate actions in relation to financial crime issues
Average annual salary: £30,000 - £50,000** depending on experience
Auditor
As an auditor you would examine and authenticate the precision of an organisation’s financial and operational records and statements. They tend to work for large organisations, so you could be working for top companies around the world.
Auditors verify if the financial records of an organisation are in agreement with the regulatory framework. Investors and shareholders tend to be more confident if financial statements are audited and it also helps in reducing organisational risk.
Tasks could include:
- Collating, checking and analysing spreadsheet data
- Examining company accounts
- Assessing levels of financial risk
- Checking that financial reports and records are accurate and reliable
- Identifying if and where processes are not working as they should and advising on changes to be made
- Preparing reports, commentaries and financial statements
- Presenting findings and recommendations
- Ensuring procedures, policies, legislation and regulations are followed
Average annual salary: £28,000 - £31,000* but can vary depending on experience and the business.
Any roles that take your fancy?
This list is by no means exhaustive but if you are keen to pursue this type of career, the ACCA qualification can help you get there.
Take a look at our ACCA pages for more information about the qualification and the study methods we have to help you pass your exams.
*reed.co.uk
**indeed.co.uk