The ACCA, or the Association of Chartered Certified Accountants, is a global accounting body established in the year 1904. This organization is responsible for offering the Chartered Certified Accountant degree or qualification to eligible candidates. There are more than 300,000 ACCA members worldwide, and they are a very interactive community. The organization is dedicated to helping the growth of its members’ various ACCA careers. The ACCA qualification will open a world of opportunities for you. If finance and business are what piques your interest, then there are a lot of ACCA benefits you can take advantage of. Leaders in this field, such as CFOs, or Chief Financial Officers, are expected to have an extensive background in the industry, which makes an ACCA qualification all the more important.
Interested in learning how to establish a career in ACCA in Canada? Read this article as we discuss how the future leaders of finance can change the world of business with an ACCA course. If you aspire to be an industry leader in finance someday, just like a CFO, then read on!
Learn about the fundamentals of finance
Financial industry leaders have an in-depth understanding of the industry, which results from years of work experience learning about the various facets of the financial industry. Acquiring an ACCA certification provides a solid foundation of industry-related knowledge and training, further enhancing your skills and experience as a professional. Most ACCA certified individuals have had several roles throughout their careers. Responsibilities increase the further you take a step up the corporate ladder, so it is expected for candidates in a higher position, such as a CFO, to have ample knowledge of how the business works as they take on leadership and management responsibilities. However, they should learn how to avoid diving into each aspect of the organization’s operation to prevent micro-management.
Strategy and business experience are the new baselines
Execution and formulation of strategies are some of the most important qualifications for leaders in any organization. In a world where the business landscape is reshaping continuously, especially with the way the market is constantly changing, it is important that finance professionals gain experiences outside the comforts of their main expertise and hone other complementary skills such as leadership and management to keep up with the qualifications of their role and the needs of the industry.. The next big opportunities for the finance industry in the future will rely on the advancements in the accessibility of data and information. And in these new challenges, smarter business decision-making is a necessity. Being a qualified ACCA member means that you have gained ample knowledge and comprehensive skills in finance and management. Financial analysis, along with sufficient leadership skills, are two of the most important criteria for the future generation of finance leaders and ACCA makes sure that candidates are ready to take on these roles.
Gain experience in conflict and risk management
Business environments are always the most challenging, and that is not going to change in the future, especially with emerging risks rising every day, such as cybersecurity and others. The future of financial organizations hints that the most critical roles will have to involve protecting investments, properties, and others to prevent potential risk impacts. Financial industry leaders rated risk management as the third most important skill for aspiring finance professionals. It is all about being prepared to make calculated decisions by having a clear understanding of what the risk implications are and these critical skills can be acquired – risk impact and management etc, seamlessly through an ACCA program. Therefore this program offers a leverage to ACCA candidates over others who lack these special skills.
Know how to make deals
The economic wealth of the globe is being re-balanced, which will drive many businesses to search for potential investments to further their growth for the long term. While some of this growth could be organic, most could be through acquisitions, mergers, or other business tie-ups with established businesses. The future of finance identifies merger and acquisition skills as the fourth most important competency for future financial industry leaders, as it enables them to provide critical insights on how to make smart deals, which is essential in securing the growth of a company. Aspiring finance professionals working for larger businesses are expected to be extensively familiar with funding, investor relations, and capital market experience – topics which are all covered during your ACCA program.
ACCA teaches maintaining close relationships with stakeholders and make the business customer-centric
The range of stakeholders with whom aspiring finance professionals will have to deal with in the future is going to be significant, which means that they have to speak the same language as people coming from a wide variety of traditional as well as non-traditional financial backgrounds. They need to greatly sharpen their communication and rapport-building skills for stronger stakeholder engagement. Finance professionals and stakeholders need to be on the same page when it comes to the brand’s consumer needs because, in the future, there may be nuanced consumer needs where compromise must be made. It is important to have a company culture that is customer-centric. You will learn how to offer solutions to these kinds of problems through training in ACCA.
In search of a good ACCA program to enroll in? Check out the Preparatory Course for the ACCA Examination program offered by the Toronto School of Management (TSoM). TSoM is renowned for its interactive educational style, with interactive courses that effectively teach transferable skills to students. The TSoM ACCA program is a two-and-a-half year-long program that prepares students to qualify for their ACCA exams and become competent professionals in the fields of finance and accounting. To learn more about the program, click here.