Many students see themselves doing an ACCA certification in Pakistan from a very young age. A lot of them, however, end up changing their minds and opting out of this when the time comes for various reasons. Even though ACCA offers a lot of opportunities, due to a lack of career counseling people are not entirely sure of its potential and do not want to take a risk.
If you are a potential ACCA candidate and are on the brink of choosing this as your career but are confused when you look at the number of people who end up changing their minds, read ahead. This blog would make you aware of all the major reasons that cause people to rethink their career choice.
Lack Of Coaching Centers
To begin with, when it comes to pursuing an ACCA certification, Pakistan has a very limited number of options available for coaching students. This problem is not only specific to Pakistan but is present in most countries. Very few people who are experienced in ACCA examinations choose to become instructors. The rest just opt for working in the corporate sector assisting in the Accounting or Finance department of different companies.
We are one of Pakistan’s very few institutes that provide quality ACCA education and give students a platform to learn everything there is about the field of accounting. Being the best school of accountancy in Lahore, we know how to put students and their education before anything else. However, the lack in the number of institutes and coaching options available makes many students change their minds about doing ACCA.
Level Of Difficulty
Another factor that plays a major role in students changing their field is the level of difficulty of the ACCA syllabus and examinations. This certification has very challenging papers that test students’ skills. There is a total of 14 exams and their breakdown can be done by dividing them into applied knowledge, applied skills, and strategic professional. With time, the exams are becoming more application based which has increased their difficulty.
Moreover, these exams require students to put a lot of time, effort, and energy into studying. A high level of difficulty means you need to be more committed, and that would sometimes mean having to sacrifice sleep or other plans for it. This is why people are hesitant to go forward with it. However, if you are someone that enjoys challenges and has the drive that ACCA students require, then this certification should be easy for you.
Rules And Regulations
An ACCA qualification also has many rules that you need to keep in mind and plan your degree accordingly. Some people find it very complicated to keep up with these so choose another career way for themselves altogether. Apart from that, people find some of the regulations regarding examinations very stringent. An example is of the seven-year time period for you to pass all your exams. If you fail to do that, you will have to appear for all the exams you have already passed again.
More Demand For CA
The strongest reason why students change their minds about doing ACCA in Pakistan is that CA is more in demand. This is because the passing percentage for CA examinations is 4-5%, whereas that for ACCA is 40-50%. A result of this is that companies value the former degree more. When students realize this, they prefer pursuing CA, since they are both accounting related and require a lot of effort. The only difference is they find one to be more beneficial than the other.
An ACCA certification has a lot of benefits and can open many doors for students in the field of accounting. People have not been fully able to realize this because of the lack of counseling available. However, with the right guidance, ACCA might just be the very thing that advances your career.