This is the Frequently Asked Questions by most of the ACCA qualifiers as well as the beginners who want to take the professional course and want to join the MBA course.
ACCA is itself a strong qualification. With global recognition, a professional degree can yarn maximum benefits. However, the ACCA course is just a diploma professional degree and yes, adding an MBA gives you an extra benefit to your career.
The idea of joining an MBA after ACCA is a great idea. The accounting qualification helps to gain you an in-depth skill in accounting and finance with higher opportunities. Combining a qualification of accounting & finance, and a relevant post-graduate degree improvises the entrepreneurial and leadership skills.
Combining the ACCA and MBA program gives an understanding of accounting, leadership, and management practice. The ACCA program is designed to give you a broader sense of knowledge in accounting qualifications throughout the world as you will be studying GAAP and IFRS implementation. While an MBA degree provides certainty on business management, administration, and marketing. It guides you on becoming a good team leader and manages departments across the industry.
While an MBA is the most popular degree even in Nepal, ACCA is the most popular globally recognized qualification accepted in nearly 183 countries including Europe, America, Middle East & Asia. Both degrees have their own unique ability to manage people, books of account and organization.
The combination of ACCA & MBA assists you in increasing your pay. An ACCA qualified are given somewhat equal payments in every continent. While adding an MBA degree can incline your package.
As per the survey, the salary of ACCA qualified in 2012 was 40,000 pounds while an individual holding ACCA & MBA degree get paid in an average of 57,000 pounds.
Back in 2014, the Financial career revealed the payments obtained by the financial professional. A CIMA holder got paid 63k pound, an ACCA got paid 58k pound, MBA plus ACCA got a whopping amount of 103k pound, CFA got paid 88k pound.
The course is pretty much convincing after ACCA, but solely doing MBA won’t be a good decision as you will not a recognized position in your employment, further for the promotion purpose you might need an additional qualification, which needs to be frequently upgraded.
ACCA & MBA combination allows you to target higher-level positions, such as CEO, CFO, Audit Executive, Financial Manager and more.
What is an MBA degree?
The master’s in business administration is the graduate degree obtained from a recognized degree. On completion of the degree, one can gain both practical and theoretical knowledge study helping you gain a better understanding of a business. The degree gives a concrete understanding of marketing, logistic, and finance.
MBA to add more glam on the degree has added two courses under it i.e. EMBA and MBA (regular) and is further divided into ¾ semesters. Both the qualifications give equivalent academic programs.
What is an ACCA degree?
This is a professional degree connected with accountancy, these are not academic degree instead, these are professional qualifications. The governing body of ACCA is situated in the UK and conducts the exam in more than 400 + centers in 170+ countries. The program is comparatively longer than the MBA program. The students must complete 14 papers, which is further divided into Fundamental level (9 papers), and Professional level (4 papers).
The time taken to fully complete the course is 3-4 years.
When should you choose ACCA or MBA?
Your career should concentrate on the long-term aspect. If you have a sense of investing little time on the career front than MBA can be your kind but, if you want to reap investment for years than ACCA is the one.
The certification course attracts the attention of Big 4 and FMG groups. The MBA’s after completing their course, firstly embark on their career from the Marketing sector while the ACCA initiates their career from the banking & financing career.
Hence, the professional certification combined with MBA strengthens your professional profile. The ACCA course holds no such requirement of first come first serve, hence, the employment holders get to study as well as time flexibility.
Further, the ones, who have completed their MBAs and are willing to undertake ACCA qualifications are exempted from a few papers. So, an ACCA degree with an MBA can be of high worth.
NCA College of Management has been enrolling students from every educational background (MBA/BBA/10+2). So, if you are willing to pursue a career, do contact us!