It’s a very popular debate whether online courses and degrees worth it? Secondly, how online degrees and certifications are looked at by employers? Online courses in Data Science & Machine Learning, Python, Big Data Analytics, AWS, Digital Marketing, etc. are gaining traction slowly among learners and employers. But, the scenario with traditional courses like MBA or accounting are still not very clear. In this post, David Mike writes about if the online accounting degrees are respected by the employers.
Are Online Accounting Degrees Respected By Employers?
By David Mike
Did you know that top universities like Harvard and MIT deliver many of their programs online?
Online degrees are the best way to take your career to new heights. Moreover, it improves your resume and opens doors to better job opportunities. A few years ago, employers used to prefer full-time degrees only. Today, employers appreciate students for the hard work they invest in completing their online degrees. Employers today, prefer individuals who work as well as take up online studies to further their careers. If you want to pursue accounting then opt for the best ACCA courses online.
77% of students say that online education is better than on-campus education. According to the report, students said that online courses are convenient, flexible and budget-friendly. Moreover, online programs prove to be of great help for people who have a disability and cannot commute. However, employers consider an online degree credible only if it is awarded by a recognized institution.
Now, let’s shed some light on online accounting degrees.
Why should you pursue an online accounting degree from ACCA?
Association of Chartered Certified Accountants (ACCA) is the world’s largest accounting body that offers the qualification of a certified chartered accountant. This association was established in the year 1904 and is based in the UK. ACCA has around 208,000 members across 178 countries.
Students acquire the ACCA qualification to establish a career in finance, banking, accounting and audit, and business management.
Benefits of doing ACCA course
- Enhanced career progression;
- International recognition;
- The choice to work in any business sector;
- Increase in earning potential.
Prospects of Online Accounting Courses in India
Many businesses today are digital yet the need for skilled accountants to keep track of a business’s finances is as important as ever. Online accountancy courses easily incorporate changes to a curriculum allowing students to remain up to date with changes in subjects such as GST, Income Tax and TDS. Read more about the India scenario.
Career options after completing ACCA qualification
Financial Accountant: The job role of a financial accountant requires them to make a significant contribution to an organization’s financial decision-making process, by employing their expertise in financial management practices. Within an organization, their typical duties include:
- Assimilating and analyzing financial data;
- Preparing monthly, quarterly and annual financial statements such as balance sheet and income statement;
- Estimating costs and forecasting trends;
- Managing tax payments;
- Organizing internal audits;
- Budget management;
- Studying financial reports and identifying and reporting inaccuracies;
- Conducting a detailed risk analysis to identify potential investment opportunities;
- Analyzing financial trends;
- Conducting month-end and year-end close processes and procedures.
The average annual salary commanded by a financial analyst is £45,729.
Management Accountant: Management accountants are responsible for facilitating accurate financial information to aid business decision-making and employ managerial planning tactics to better administer functions within an organization. Their day-to-day tasks include:
- Preparing budgets, financial statements, and reports;
- Conducting internal audits and financial administration;
- Collaborating with peers and managerial staff to derive useful financial information from all departments;
- Monitoring and managing a team of accounting technicians;
- Development, maintenance, and management of financial regulations, policies, and systems;
- Acquiring investors and financing options for major projects;
- Managing, supervising and forecasting costs and revenue;
- Designing business strategies aimed at enhancing shareholder value.
A management accountant earns an average annual salary of £36,642.
- Chief Financial Officer: Unlike the above-mentioned job roles, this is a senior-level role that can only be taken up after a certain amount of experience. Professionals who have the right skill set, experience and industry knowledge can assume the role of Chief Financial Officer (CFO) within an organization. As a CFO, your day-to-day responsibilities would include:
- Driving the financial planning and policies of an organization;
- Analyzing the organization’s financial obligations, liabilities and investments to employ appropriate risk management techniques;
- Developing investment strategies by factoring in cash and liquidity risks;
- Assessing and managing the organization’s capital structure;
- Ensuring that the liquidity of cash flow is enough to sustain the financial obligations of the organization;
- Supervising teams of finance professionals;
- Managing and maintaining vendor relationships;
- Analyzing current trends and preparing forecast reports;
- Setting up necessary finance technology within the organization;
- Ensuring that the organization’s financial activities are in compliance with the regulatory policies and standards set by the government.
The average annual salary of a Chief Financial Officer is £133,850.
Auditor: If you assume the role of an auditor within an organization, you will be responsible for reviewing the financial accounts and records of an organization, to assess their validity and verify their legality. Your day-to-day responsibilities would include:
- Assimilating, verifying and analyzing spreadsheet data;
- Analyzing the financial accounts and control systems of an organization;
- Determining financial risk levels within an organization;
- Analysing financial reports to identify discrepancies and ensure accuracy;
- Ensuring that the organization’s financial assets are safeguarded;
- Preparing financial reports and statements;
- Ensuring that the financial procedures, processes, and policies are in compliance with the set regulatory standards.
The average annual salary commanded by an auditor is £39,119.
Salary expectations after online ACCA qualification
The approximate salary of an entry-level accountant is approximately £19,300 per annum. On the other hand, the approximate salary of an experienced ACCA accountant is £30,700 a year.
Online accounting degrees have a good standing if acquired from an accredited and recognized institute. So, go ahead and aim for the next level of your career!
Author Bio: David is a Business enthusiast who works in the higher education industry for globalization. He is an active researcher and international student guide. David regularly writes on leadership, business management, accounting, study abroad and entrepreneurship.
Featured Image Source: India Today
Note: This is a Sponsored Post!