Once you get an ACCA certification, there are a large number of opportunities waiting for you. While most of the jobs you will be taking up will be accounting related, they will focus and specialize in different areas. If you want to know what ACCA’s scope in Pakistan is, read ahead. We have compiled a list of all the significant jobs accountants with this degree take up.
Financial Accounting
Financial Accountants are responsible for interpreting and recording all the financial decisions and transactions in the organization over a particular period. Their role revolves around making and fixing balance sheets and cash flow statements. Financial Accountants can also provide their services individually without working with a specific company. They are hired to create clients’ financial statements and help them increase their profit by providing financial advice.
Management Accounting
A management accountant’s primary role is to provide financial analysis services to the organization in which they work. This means they take the financial information available and provide statistics to relevant decision-makers so they can think their decisions through. All critical decisions of an organization are made this way. Moreover, these figures are what different departments use to set goals for themselves. Essentially, these accountants conduct financial analysis that causes a company’s growth. Even though salaries depend on several factors, on average, Management Accountants earn more than Financial Accountants, with an average of Rs 135,000.
Financial controlling
Financial Controllers usually take up the position of senior executives in a company. As a result, they overlook an organization’s finance and accounting department and see that all their financial records adhere to laws and fulfill all legal requirements. Financial controllers can also be involved in budgeting and are skilled at assessing and analyzing the company’s financial data. They are essential for any company because only some people are suited for this job that requires technical skills. In addition, it requires expertise in all accounting and economic matters to ensure that all employees follow company policies and procedures.
Chief Financial Officer
The Chief Financial Officer of an organization is one of the senior executives. They are responsible for developing an adequate financial strategy and then implementing it. However, they overlook all the company’s financial work, including budgeting and preparing financial reports. In addition, the CFO analyzes and decides on investment strategies for big companies, keeping liquidity in mind. To take up this job, you must be good at data analysis and forecasting. Moreover, you are supposed to have a good understanding of various risk management techniques. ACCA’s scope in Pakistan can be seen from how most of the MNCs in Pakistan have CFOs who are ACCA qualified. If this is a job you want to take on, we would advise you to appear in the following two optional exams:
Advanced Financial Management
Advanced Performance Management
Auditing
One of the most popular job opportunities in Pakistan for someone with an ACCA certification is becoming an auditor. An auditor is responsible for examining a company’s financial records and statements. Most auditors work in large well-known accounting firms. They see if all their client’s financial statements align with the relevant laws, helping companies comply with what is legally binding on them. Other than that, their job description is inclined towards helping reduce risk. Mostly, the duties of an auditor revolve around analyzing data on a spreadsheet for their client, checking all financial control systems, looking at financial risks involved, and ensuring all assets are safe. The top 5 auditing firms of Pakistan are:
PricewaterhouseCoopers
Deloitte
KPMG (Klynveld Peat Marwick Goerdeler)
EY (Ernst & Young)
PUSH Digits
Having an ACCA degree will bring you one step closer to working here.
To conclude, ACCA’s scope in Pakistan is unparalleled. You can break into the field of accounting and finance in any particular area you find interesting. However, the most significant benefit lies in the fact that these are not jobs you are limited to in Pakistan only. You can take them up worldwide because this certification is globally recognized, and ACCA’s partnership with top companies worldwide will ensure you get a good spot.
