ACCA Exemptions: Everyone knows that getting the proper certifications to become an accountant can be exhausting. From earning your degree to getting your professional qualifications, becoming an accountant offers a lot of challenges. However, obtaining an MBA in business and finance can give you a significant leg up when it comes to getting your certification.
Of course, there are many advantages to getting an MBA in finance. Having a more advanced degree gives you both the experience and the qualifications necessary to enter the workforce as a candidate in demand. But you may not immediately think about how an MBA can also help you with your ACCA certification and getting your exemptions.
When you are studying to become an accountant, the last step in your certification is sitting for exams. ACCA stands for the Association of Chartered Certified Accountants, which is a global organization. Once you receive your ACCA certification, prospective employers will know that you have experience in every area of business that is required of professional accountants. This means that you can get an accounting job anywhere in the world.
Countries have their own individual certifications that native accountants need to follow. But for most, an ACCA certification is the equivalent. It is one of the largest certifications in the world. In fact, more than 320,000 people have earned it.
When you have ACCA certification, you will be a chartered certified accountant. This opens you up to a whole new level of job opportunities. Additionally, both customers and employers will consider you to be in a higher tier of accountants. When you will become an employee, it also opens you to promotions and management positions.
When you have an ACCA qualification, you also have the knowledge and experience necessary for almost any job related to accounting. This includes banking, auditing, consulting, law, finance, and taxes. ACCA certification also prepares you for the work industry by providing you with knowledge related to finance strategy and other important practical skills. Additionally, Everybody considers IFAC qualification is equal to a degree in finance or accounting
ACCA exams have several categories. It designs to test your knowledge and practical skills related to the world of finance.
The Applied Knowledge exams are very simple to design and to develop your base knowledge of accounting and finance. These exams include Accountant in Business, Management Accounting, and Financial Accounting.
The Applied Skills exams design to develop the knowledge that students learned in previous exams. These include Corporate and Business Law, Performance Management, Taxation, Financial Reporting, Audit and Assurance, and Financial Management.
Other exams include the strategic professional exam. Students can prepare to take on management positions, and Ethics and Professional Skills module. In addition to all of this, students must have three years of work experience to prepare them for the broader job market.
Each of these sections involves writing a certain number of papers to summarize students’ knowledge.
Needless to say, becoming ACCA certified is a time-consuming process. However, with other university qualifications, students have the possibility of qualifying for exemptions. An MBA in finance is one perfect example of this.
It is impossible to ignore that the exams of ACCA structures very similar to the classes required of an accounting degree. In fact, ACCA certification and a finance degree are roughly equivalent.
A student with no prior experience or schooling in any area of finance or accounting must begin the ACCA exams at the very beginning. However, students who already have a finance degree have the possibility of qualifying for exemptions. Exemptions allow them to begin their certification at the level they have already reached in their schooling.
This significantly cuts back on the amount of time and effort it takes to become certified. Having an MBA in finance is a particularly good way to make the ACCA certification process shorter and easier.
You can qualify for exemptions that allow you to skip certain papers and exams. However, regardless of your past qualifications, you must still sit for the strategic professional exams. The exemptions that you qualify for will depend at least in part on the country where you got your MBA. However, in general, an MBA in finance allows you to skip F1 through F9. This means that you can skip all the foundation papers throughout the certification. Depending on your qualifications, you may claim up to nine exemptions in total for the ACCA.
Even with an MBA, you should take the requirement of P123. You will also have two optional papers in P4-7. This means that with an MBA, you will need to write a total of five papers to complete your ACCA course. This is a significantly reduced workload, which makes it much easier to complete your certification in a shorter amount of time.
Many universities offer MBA programs, but not all of them make it possible to access a globally recognized curriculum from your own home. Through Success Point College, you can get your MBA from anywhere in the UAE and the surrounding region. This makes it the perfect choice for an MBA in finance in Dubai or Abu Dhabi. Success point college uses the curriculum of ISDC Global Business School, which is ranked among the best master’s curriculum in the world. If you are looking for a fast-track MBA in finance or an MBA in international business and finance, Success Point College is the perfect choice for you.
SPC students will qualify for nine ‘ACCA exemptions’ through an MBA in finance. Additionally, there are MBA finance exemptions through ACCA. ACCA students who want to get their MBA can qualify just by doing their final dissertation. This makes SPC the perfect choice for a one-year MBA in finance.