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There used to be a big difference between the way the ACCA and ACA qualifications were perceived. The ACA was seen as far superior to the ACA. It is my opinion that this is no longer the case. The ACCA is an excellent qualification as is the ACA and both can lead to strong finance careers all the way through to being a Finance Director. Both can be studied for in practice but only the ACCA can be studied for in industry, I have always seen it as the qualification you need if you are looking at your initial career being on the financial side of the accounts department.
There are two sides to every finance department. These are the financial side and the management accounting side although roles within the latter area are increasingly referred to as Finance Business Partnering roles.
Financial accounting is the transactional side of things - the invoicing, paying people, the recording of information leading to the production of a Profit and Loss Statement and a Balance Sheet on a monthly basis and the production of the year end accounts. On this side, you could be involved in balance sheet reconciliations, maintaining fixed assets or managing ledger teams. Essentially, on this side, you are looking at how the business has performed in the past and management need these figures to understand what is happening in their business.
If studying the ACCA qualification appeals to you, then their website is www.accaglobal.com.
Next week, I shall be looking at the CIMA qualification. Until then, have a great week.
Jeanette Robinson FREC (Hon)