The growing popularity of ACCA in India; The pathway to global financial leadership - Hindustan Times

The growing popularity of ACCA in India; The pathway to global financial leadership

Published on Sep 21, 2023 05:56 PM IST

ACCA has witnessed a remarkable surge of importance in recent years in India, primarily owing to its global recognition

Orwell Lionel,Managing Director, Indian Institute of Commerce Lakshya
Orwell Lionel,Managing Director, Indian Institute of Commerce Lakshya
ByHT Brand Studio

India’s fast-paced economic development has positioned the country as one of the world's leading and dynamic economies. With its commendable growth potential, India has craftfully integrated itself into the global economic landscape, emerging as a formidable player in its own right. These advancements have brought about a number of changes including an increase in demand for proficient and capable finance professionals. As investors and organizations become keener on expansion and upgradation, they need skilled finance professionals who will help them expand their presence and adapt to the ever-evolving global paradigm.

In this era of expansive multinational corporations, there is a growing desire for highly capable financial accountants and commerce professionals who can contribute their expertise to shape a strategic vision, ensuring the sustained stability of these thriving entities. These ongoing developments present exclusive opportunities for individuals aspiring to build careers in finance, accounting, and management to name a few. Such developments have made way for commerce as a field of study to build its own kingdom in a country like India where science backgrounds are considered as the factorial representative of academic success. This phenomenon has underscored the significance of ACCA (Association of Chartered Certified Accountants) in India, as it equips individuals with the knowledge and skills necessary to flourish in this dynamic and ever-evolving financial landscape.

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ACCA has witnessed a remarkable surge of importance in recent years in India, primarily owing to its global recognition. ACCA, as a renowned global accounting organization, promises the coveted title of a professional accountant for the candidates who qualify for the exams. This surge in importance can be attributed to a notable shift in career preferences and interests among aspiring professionals. As a result, there has been a remarkable increase in the number of individuals aspiring to attain ACCA certification within the country.

ACCA, the Association of Chartered Certified Accountants, stands as a global powerhouse in the field of accounting and finance education and accreditation. With a presence in 179 countries worldwide, it has a community of over 2 lakh dedicated members. Its universal appeal not only equips professionals to excel in any financial or management aspect of the business but also positions them as valued and qualified experts anywhere on the globe, making ACCA a truly indispensable asset for ambitious individuals in the field of finance and accounting.

In contemporary India, achieving ACCA accreditation is increasingly held in high regard. The scope of securing a high-wage earning job within the nation and outside India is immense, especially in the Middle East and European nations. This is indicative of the growing recognition of ACCA's credibility and the high regard in which it is held within the financial and accounting sectors.

Notably, countries worldwide have raised the bar in terms of the demand and expectations placed on ACCA-certified professionals. This trend has resonated with students in India, motivating them to pursue ACCA qualifications as part of their career aspirations. ACCA's distinct focus on practical learning through hands-on experience is one of the major reasons why we see students interested in pursuing this dream. Furthermore, ACCA consistently aligns its curriculum with the latest business trends and the ever-evolving market and economic landscapes.

ACCA is also growing in demand in the nation among the student crowd, due to the huge market there is for financial services globally, and the attractive pay that it offers to professionals from freshers earning a sum of six to eight lakhs annually in India. MNCs like the big fours are keen on hiring ACCA qualifiers and acquiring them into their companies. Not only do these students get a chance to secure themselves financially and professionally at a very young age, but they are also presented with the opportunity to succeed anywhere in the world. The development of ACCA is also a representative of the transformation that the commerce profession in general has undergone over the years. Commerce as a field of study has transcended beyond just business studies and bookkeeping and has developed into a vast ocean of opportunities for students to establish themselves.

This transformation extends beyond traditional boundaries, reshaping both educational curricula and the employment landscape worldwide. India, in particular, is experiencing the dynamic impact of these changes as its economy continues to expand and adapt to the dynamic global trends in the commerce industry. This evolution not only drives economic growth but also promotes employment opportunities and enhances India's global positioning. Such developments have been instrumental in positioning the industry of commerce as something that has a huge potential to redefine the structure of our economy, and the field of study. India's commerce sector stands at the crossroads of immense potential and transformative change. The country's growing economy, coupled with its adaptability to global commerce trends, presents opportunities for economic growth, job creation, and global competitiveness.

About Orwell Lionel

Orwel Lionel is a visionary entrepreneur, and the founder of Indian Institute of Commerce Lakshya, a prominent educational institution specializing in commerce courses. Hailing from Kerala, his deep-rooted passion for education prompted him to establish Lakshya in 2011. Through his inventive strategies and unwavering dedication to creating a positive impact in people's lives, the institute has flourished into a respected cornerstone of commerce education. His remarkable achievements were acknowledged and he received the Young Entrepreneur Award in 2015. Lionel's aspiration is to democratize commerce education, making it accessible irrespective of socioeconomic background, as he firmly believes education is the key to empowerment. Beyond his professional pursuits, he finds joy in spending time with family, reading, traveling, and actively engaging in charitable initiatives aimed at creating positive societal impacts.

Indian Institute of Commerce Lakshya
Indian Institute of Commerce Lakshya

About Indian Institute of Commerce LakshyaIndian Institute of Commerce Lakshya, is a premier educational institution renowned for its excellence in commerce education and professional training. Offering a range of comprehensive commerce courses, including ACCA, CA, CMA USA, CMA India, and CS, Lakshya equips students with vital skills for thriving careers. The institute provides undergraduate programs like B.Com, BBA, and MBA, fostering strong foundations in finance, management, and related fields. With a team of highly qualified and experienced faculty members, Lakshya ensures that students receive top-notch education and guidance. The institute follows a holistic approach to education, combining theoretical learning with practical exposure through case studies, industry visits, and internships.

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