The Optimum Choice!!

Help!! Help!! There is a volcano out there, erupting constantly, spitting out a multitude of choices for individuals to choose their career path from and thus, you have to be limited by choice. Owing to this dynamic and rapidly evolving world, flexibility is becoming a decisive factor in opting for a qualification and the area of work. You have to accept drastic changes and mould yourself accordingly.

ACCA, acknowledging this flexibility factor, allows its students to gain their practical experiences in any sector they choose and has given them the advantage to move between employers and sectors of their own choice. Thus, it has given them the freedom to choose and direct their career paths themselves, converging on the qualification itself. Therefore, the students have liberty to decide how to get to their destination, which is qualifying for ACCA membership. The opportunities are limitless as individuals can exploit their potential in any sector, ranging from Corporate to Public Sectors and Public Practice, each having its own merits and demerits (this being most probably due to individuals' own lack of interest).

Corporate sector, as the name suggests, includes businesses and enterprises, which are involved in construction, energy, utilities, retail, manufacturing, IT, pharmaceuticals, transport and even the leisure industry, and any other industry one can think of. It has a vast, fast-paced business environment, enabling ACCA qualified accountants to fit themselves in valuable roles it offers. It offers exciting opportunities for ACCA accountants as most of the organizations are global multinationals. Work areas may include financial and asset management, business analysis, tax assessments or even formulating business strategies and developing IT infrastructures, but still the list goes on as this sector is in continuous growth. People succeed, in this sector in particular, because of their strong interpersonal and communication skills and their ability to work in teams.

In contrast, the Public sector delivers tangible and direct public benefits and includes not-for-profit organizations, charities and governmental organizations. Such organizations may involve vast workforces and huge budgets, finance functions and large-scale operations. Treasury management and capital accounting are key aspects and competence areas may range from financial and management accounting to tax and internal audit. Job rotations and secondment opportunities enable students to widen their scope of knowledge and expertise. There is formal training and development and also scope for flexible working hours, study and other work/life balance commitments.

Dominated by the 'Big Four' (PwC, KPMG, Ernst & Young and Deloitte), Public Practice is sure to attract many ACCA students, including me. It provides ACCA trainees to work in several exciting areas such as audit testing, value for money analysis, advising clients on tax efficient structures, arranging finance for projects and new ventures and developing and implementing improvements within businesses, or even getting a Registered Auditor status. The role in this sector, as it seems, would really be fast-paced and demanding.

As far as the selection of a particular sector is concerned, it is on the discretion of the student itself, in which sector he/she is interested, and in what areas does he/she like best to work? In my honest opinion, my strategy would be to work in Public Practice for quite some time possibly in a Big Four firm, until I complete the Practical Experience Requirement for ACCA membership. I would do so, owing to the fact that this shall surely expose me to a wide range of work environments, each with different valuable roles and therefore, enable me to discern the right role and the right area for me to work in. The areas of financial management, financial or management accounting, audit, tax attract me and even forensic accounting, which in today's era is gaining popularity, luring individuals with its unexplored riches. After gaining sufficient, relevant work experience and most probably, after securing ACCA membership, I might test my competences by moving to the Corporate sector or the Public sector. Each new arena will bring with it its own challenges which one must try to face positively.

No matter what sector you choose to work in, the opportunities, once you qualify, are endless. There would be an ocean of choices available to you, it is only that you would need to explore, which one is as per your interest. Each individual is different and so are the roles that work life offers. One may be effective in one role but not as much as in another. There is no one best area or sector to work in and only a contingency approach would be appropriate, adapting oneself according to the circumstances. However, one can certainly test himself/herself in different areas and that it's just like exploring a world of choices. The fact of the matter is that YOU need to make the optimum choice. Remember, the power to prove yourself only lies within YOU.

Comments

[Murtaza J. Bhatti]

I would like to agree with you, and comfortably say that ACCA is one of the best choice one can opt for. ACCA with its global standing among diversified practice sectors whether public or private, equips a student with up to the mark academic competence and also with necessary practical exposure required for membership. One must evaluate all the available options, but if finance and accounting is to be persued, ACCA proves to be one of the finest move.