ACCA endorsed as a qualification that provides an edge in the field of accountancy
Accredited as the largest and fastest growing global professional accountancy body, the Association of Chartered Certified Accountants (ACCA) has over the years produced a number of professionals in a range of industries who has now become movers and shakers of the economy.
Chanayka Dissanayake, now an FCCA member and serving as Country Head of Amba Research Lanka noted the importance of having a qualification that was globally accepted and highly respected by all employers on an international scale. “The ACCA curriculum is based on the concepts of IFRS ,which today is a very important factor for many companies. This is what the future organizations will base their operations on.”
Noting that transparency will be an inexorable trend across industries, he stated that the ACCA ethics modules will prove a very useful guideline. “Their online services will provide detailed financial analysis for individuals, providing significant insights that would have previously only been available through high-level advisors. Finance professionals in the future will also have a hand in business outcomes and be involved in determining profitable business strategies. Therefore continuous knowledge advancements will be a key factor for professionals in the field. ACCA members are kept up-todate with the latest trends in the world through its network while students are made to understand the changes through the course work designed to absorb the happenings in the industry. ACCA is one of the global bodies that understand the importance of this aspect and ensure that at all times such knowledge is imparted to their students. In addition , ACCA has been an active endorser of many initiatives pertaining to improvements required of the finance profession.”
Speaking on his experience, Dissanyake said: “I found financial reporting to be the most challenging part of the qualification. This is an area that concentrates on applying the practical scenarios to the theory we learn. However these concepts and methodologies have also helped me tremendously in adapting them in my career.”
He noted that the ACCA qualification has such clear and concise guidelines in their curriculum that he was able to self-study for the entire qualification. This does not however mean it is easy, he maintained – but it is built on such a practical context that its teachings can be easily adapted to the everyday workings in the field of finance and therefore prove to be very useful for a person in the industry. “The qualification covers many useful concepts in financial analysis which was very useful in my day-to-day work and the knowledge gained from these insights assisted me greatly in majority of the investment research I had to conduct.” As an ACCA member he receives the latest market insights and also has great networking opportunities with relevant decision makers in the industry ,which helps in furthering career positions in life.
Sharing his thoughts from the perspective of an employer, Dissanayake believes that the subjects and content of the ACCA qualification gives an edge over other qualifications in the market. “It covers taxation and auditing in depth including all the technical aspects which many qualifications do not focus on.” He noted that currently a large number of ACCA graduates and members work in key positions at Amba Research.
His advice to a trainee accountant is to “actively seek and pursue your future goals.. If you’re talented and willing to work hard, you’ll be able to turn whatever comes your way into something that is satisfying and to carve out your own destiny . A career in finance will also give the opportunity to look at diverse businesses, organizations and industries so that , after obtaining the qualification, students can select exactly what they want to do according to their area of interest. “
As for combining their ACCA studies whilst working, Dissanayake advised them to develop analytical skills that will help them both in their exams as well as their job and have a set timetable every day to study and understand in depth the accounting concepts taught.
“This will certainly help when it comes to applying them in the practical context to everyday work as well,” he concluded.