Is ACCA Recognized In Australia. Jobs | Salaries | CPA path

by Sianna Shah

ACCA Qualifications Recognized in Australia

The Association of Chartered Certified Accountants (ACCA) is the world's most widely recognized accounting qualification. It allows you to audit, advise and support businesses, making them more profitable. 

An ACCA certification proves that you have the knowledge and skills needed to succeed in this field. If you are interested in pursuing a career in finance or accounting and want to take your career to the next level, consider getting an ACCA qualification.

 There are many benefits of having an ACCA certification in Australia: You can advance faster in your career, be qualified for better jobs with higher salaries, open up job opportunities across the globe, and impress prospective employers when applying for a job. This article will explore whether an ACCA qualification is valid in Australia.

Key Takeaways

  • Easy to convert ACCA to CPA Australia if you are an ACCA member with five years of experience 
  • ACCA offers exemptions to pursue higher education
  • Huge unmet demand for Chartered accountants post-pandemic, resulting in a 30% jump in salaries post COVID-19
  • Big4, Telecom, Banking and retail are the major recruiters.

Pursuing ACCA in Australia

When you pursue an ACCA qualification, you'll join a community of more than 150,000 people across the globe. There are more than 650 ACCA chapters and over 80,000 members in Australasia. 

Australia has been a significant accounting hub since the early 20th century. And since many other countries in the region have been focusing on higher education, there has been a need for more accountants in Australasia. This has created many job opportunities for ACCA professionals. 

ACCA has nine chapters in Australia Newzealand where an ACCA member can meet in person; these cities are

  • Adelaide
  • Auckland
  • Brisbane
  • Christchurch
  • Melbourne
  • Perth
  • Sydney
  • Wellington 

If you want to start your career as a financial analyst or accountant, you can pursue an ACCA qualification. This program includes courses in financial accounting, management accounting, business law, taxation, and auditing. You will learn how to communicate effectively with your organization's clients, supervisors, and others. You'll also be trained to solve complex problems, work on a team, and manage your time.

CPA Australia and ACCA partnership

Over the past few years, CPA Australia and the Association of Chartered Certified Accountants (ACCA) have partnered to serve the accounting industry better. This partnership has allowed people with a CPA certification to sit for the ACCA exam and vice versa. 

This means you can get an ACCA qualification by studying for a shorter period and paying less overall. In addition to this, the two organizations also share research, advocacy, and policy efforts. This partnership makes it easier for CPA and ACCA members to collaborate and grow their networks. It also gives members ways to share their expertise with others, improve their skills and knowledge, and advance their careers.

How can an ACCA member apply for the CPA Australia membership?

With the Association of Chartered Certified Accountants (ACCA) and the Chartered Accountants Australia and New Zealand (CAANZ) working together, the pathway to CAANZ membership as an ACCA member is straightforward. Follow the steps below to start your journey toward achieving CAANZ membership.

Step 1: Association of Chartered Certified Accountants Member body Membership Pre-Qualifications

  1. You must be a current full member in good standing of the ACCA and
  2. You must be a full ACCA member for five years

Step 2: Apply for Special Admission to Membership on the CAANZ website.

The ACCA will issue a Transfer of Memberships Form (TMF1), which will record your details, tax status, qualifications and experience that you have gained while you have been a member of the ACCA. The TMF1 will be sent to CAANZ, who will complete their part of the form and send it back to ACCA for completion. You will then be issued an ACAS Number by both organizations – CAANZ and the ACCA.

Step 3: CAANZ Join Process

Once you have received your ACAS number from both organizations, you can apply for membership in CAANZ. The application process is simple and can be completed online. The next step is to complete a short interview via telephone or video call with a dedicated CPA Australia team member who will verify your eligibility. Once approval has been given, you can pay your joining fee, and you are all set to begin your CPA journey!

 

What is the Value of CPA Australia membership for an ACCA member?

The CPA Australia membership is an investment in your career. The CPA designation is one of the business's most respected and recognized credentials. The benefits of being a member of CPA Australia are many:

  • You will earn recognition as a leader in your field,
  • develop your skills and knowledge, and
  • access new career opportunities and networking opportunities. 

If you are looking to work in public accounting, investment banking, or management consulting, a CPA membership can help you get there.

You must earn at least 120 credits in three years to become a CPA member. You can achieve this by completing audit and assurance, assurance, management, and accounting modules. You can earn credits through online courses, in-person seminars, one-on-one coaching sessions, and mentoring programs. These credits will make you eligible for the CPA designation and its many benefits. 

Higher studies in Australia with ACCA

If you have an ACCA qualification, you can pursue higher studies in Australia, like a Master of Accounting or a PhD. These programs can help you develop skills, complete a research project, and advance your career. An MBA focused on accounting is also an excellent option for ACCA members. 

This program is designed for students who want to advance in accounting or finance and become leaders in the industry. You can also pursue an MBA to advance in management and leadership or become your organization's chief financial officer (CEO). 

Most universities, like Macquaire University, offer customized programs to meet your needs, interests, and goals. To find the right program, you should consider your strengths and weaknesses, your work experience, and what you want to achieve as a result of your studies. 

The following are programs that Australian education providers already recognize 

ACCA is recognized with Deakin University Accelerated MBA

 A landmark collaboration between Deakin and the Association of Chartered Certified Accountants (ACCA) will enable members of the professional accountancy body to fast-track the University's popular MBA program.

 The arrangement acknowledges the extensive educational dimension of full ACCA membership and offers ACCA accountants up to six credits in Deakin's 12-credit point Master of Business Administration (MBA).

 MBA Course Director Associate Professor Colin Higgins celebrated the collaboration as a win for both ACCA members and Deakin, "these types of collaborations with key industry bodies are vital for us to remain at the forefront of our field, and I look forward to what it will mean for our students."

ACCA Chief Executive Jane Slatter emphasized the transformative effect this arrangement will have on the way ACCA members can access the best education in Australia, "The cooperation between ACCA and Deakin University will not only make it easier for ACCA members to study at Deakin; it will also help them develop highly sought-after qualifications that open doors in business and academia alike." 

Read here to learn more.

 

ACCA KAPLAN Postgraduate qualification

KAPLAN Professional is a leading Australian provider of qualifications in applied finance and financial planning. They form part of a global network of businesses specializing in education and continuing education for finance professionals.

Subject credit for ACCA students, affiliates and members.

As an ACCA student, affiliate or member, you are eligible to gain exemption from Kaplan Professional's core financial unit, FIN113-Techniques in Financial Analysis, as long as you have completed or have been exempt from part or all of the Fundamental level (must include F7 Financial Reporting).

This subject credit can be used towards any of Kaplan's four prestigious postgraduate qualifications:

  1. Master of Applied Finance
  2. Graduate Diploma of Applied Finance
  3. Graduate Certificate in Applied Finance
  4. Graduate Diploma of Financial Planning 

ACCA jobs in Australia

If you earn an ACCA qualification, you can work in various industries and sectors, including accounting, auditing, management consulting, financial services, and taxation. Accounting and auditing are the most common industries for ACCA members. 

These two industries include businesses like accounting firms, financial institutions, and management consulting firms. 

There are many job opportunities in these industries, especially if you are willing to relocate. 

Many companies hire ACCA members, including Ernst & Young, KPMG, Deloitte, PwC, and Oracle. And if you are interested in a more senior position, you can take the Associate of the ACCA (AACCA) exam to become a certified public accountant (CPA).

Post-pandemic, theres a huge unmet demand in Australia for Chartered Accountants. Job listing for accountants has increased by 34% per the latest seek job reports of Sep 2022. 

 Due to the lack of immigration during the pandemic, theres a massive shortage of qualified and skilled accountants. 

The average ACCA salary in Australia is now $86,000 compared to $70,000 before the COVID -19 pandemic.

Can I study ACCA in Australia?

ACCA has two exam centres in Sydney and Melbourne. You can schedule your exams via your MyACCA login. At times ACCA may also offer the option of taking the exams remotely.

You can purchase the ACCA books via our site eduyush.com. We offer both BPP and KAPLAN books in digital format. The ACCA books price for Australia ranges from 40 AUD to 60 AUD for two ebooks.

 

Students can also take the BPP Online lectures for all subjects. The training is comprehensive and comprises of

  • Pre-recorded lectures by BPP UK Faculty
  • It covers the entire syllabus
  • Has a CBE practice area with a mock exam
  • Has revision summaries to help you prepare for the exams

These courses are priced around 100 AUD to 130 AUD per subject and are available for access for two exam attempts.

Students can also read other useful links relating to the ACCA exams.

Summing Up

 The ACCA qualification is globally recognized and highly valued by employers. If you are considering pursuing an ACCA qualification, know that it will open doors for you, not just in Australia but around the globe. And with the demand for Chartered accountants increasing post-pandemic, now is a great time to pursue your ACCA qualification. To start your journey to becoming a Chartered accountant, check out our range of training courses and books today on eduyush.com


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