The talent equation: A career in finance

Training to be an accountant takes dedication, but the rewards can be immense. A career in accountancy is highly rewarding, both financially and career-wise.

A professional accountant can take on many different roles, from a specialist in audit or tax, to being a broad financial expert advising SMEs and start-ups.

The choice really is down to the individual. But choosing that career takes considered planning.

With ACCA, there are many paths to becoming an accountant. ACCA operates to open up the profession to those who choose a career in finance regardless of their background, and regardless of whether they have a degree or not.

We also work to help people plan their careers, and help them on their way to being a professional accountant with a complete set of skills that are in demand by employers here in Sri Lanka and around the world.

Our qualification offering is structured so that as students reach the final stages of their studies, they have the option to decide within which areas they want specialise. When they qualify it is not the end, but the start of a promising and fulfilling career.

Routes to success

ACCA works with a number of other organizations, employers and learning providers, to deliver its qualifications, including the university sector in numerous locations around the world. Here in Sri Lanka MOUs are signed with the key universities. For ACCA, this is an attempt to better prepare local students for the changing job market that calls on professionals with skills and expertise that combines both theoretical and practical knowledge.

Through these agreements with universities, we can offer exemptions to the ACCA Qualification, as well as continued and higher study.

To qualify as an ACCA member, a candidate needs to complete what ACCA calls the 3 Es – exams, experience and ethics. The ACCA Qualification consists of 14 papers, but not everyone will start at the same place with ACCA, and neither should they. We all have different skills and abilities, and different aspirations. That is why ACCA offers exemptions from some of the papers in the ACCA Qualification and our Foundation Level qualifications to students who have studied other relevant qualifications. This means they can start their studies at a level that is consistent with the knowledge and skills gained from prior learning. We believe this provides them with the quickest route to full ACCA membership.

Then comes the second i. e., experience, with the candidate needing to record 36 months’ experience in a relevant role. And lastly, a candidate needs to also take the online ethics module. With ACCA there is a strong focus on professional values, ethics and governance. This is essential because the profession is moving towards strengthened codes of conduct, regulation and legislation, which is why the ACCA qualification has an increased focus on professionalism and ethics in accounting. The best part of the ACCA qualification is the flexibility, which means that a student can work on the 3 Es at the same time or in any order.

On the way to ACCA membership, there are lots of qualifications someone can achieve and gain along the way. And this is where ACCA’s tie ups with global Universities can really help.

While studying for the ACCA Qualification, someone can also study for a Diploma in Accounting and Business, an Advanced Diploma in Accounting and Business and a BSc ( Hons) degree in Applied Accounting awarded by Oxford Brookes University.

Collaborations with Universities enable the ACCA Qualified individual to build on their educationand training. With Edinburgh Business School we offer an MSC in Financial Management and with the University of Exeter an MA in Leadership Studies.

ACCA’s belief is that the journey to be a complete finance profession can and should be continued. It is nota pathway that simply stops on qualifying. In order to fully progress in a chosen career, you need to continue to develop technical competence, strategic vision and leadership skills.

Many of our members continue to learn – indeed continuous professional development is a prerequisite of being a member.

Once someone gets to membership level, ACCA also offers professional membership with other professional partners, such as the UK’s Chartered Management Institute ( CMI) which offers all ACCA members who have completed the ACCA qualification eligibility for both CMI membership and for CMI’s qualified route to gaining the Chartered Manager ( CMgr) award. Through the local and international networks and partnerships we have, the learning and development opportunities bring real and lasting benefits for the individuals, their clients and their employers.

All organisations need professionals who understand finance, talented people who can help make the business a success. Professional accountants play a vital role in wider society too. They provide real value by giving businesses and individuals the confidence to invest, and that in turn, allows countries, organisations and, most importantly, people, the opportunity to realise their potential.

And that is what ACCA and its partners such as Universities and other learning providers offer – the chance to realise potential, to start a journey on a rewarding and stimulating career. Nilusha Ranasinghe, Head of

ACCA Sri Lanka