Which is Better – ACCA or MBA?
This question confuses most of the students whilst contemplating higher studies. The job prospects of the courses are considered as the yardstick for decision-making. Even then, it may be complicated to pinpoint MBA or ACCA and stride forward believing that this is the right course for me. The ambiguity will be lurking inside the student’s mind during and after the course.
This blog post is intended to throw some light into the various factors of both the courses. So that the students and their parents can identify, where will they fit better and fix that course.
What is ACCA?
The Association of Chartered Certified Accountant (ACCA) is an international professional accounting body, established in 1904. The Chartered Accountancy course offered by the organization has worldwide repute and value.
The professional accountancy course covers a comprehensive curriculum. It covers financial management, financial reporting, business laws, taxation, audit, business performance analysis, business strategy, and accounting. The course will instill your in-depth knowledge about the world of business. Hence, elite firms and multinational companies prefer ACCA qualified professionals to non-qualified professionals.
The ACCA course has 03 modules, viz. Knowledge Module, Skill Module, and Essential Module. In addition to this, the candidate can opt for 02 additional papers from the 04 papers offered. You can get more information about the course from the official website www.accaglobal.com.
What is an MBA?
MBA or Master in Business Administration is a popular course, which has been glamourized due to the unparalleled pay and benefits given to graduates from IIMs. It is normally a 2-year course. However, practicing professionals can opt for a 1-year course too. The course will teach you business management aspects. It has subjects related to accounting, marketing, finance, and human resources.
Although you read great stories of MBA holders from IIMs, it’s not that colorful out there.
The MBA courses have been losing its charm for the past several years. The glam and glitter are limited to a few in the top lot. Those who obtain MBA certification from institutions other than IIMs are not paid well. The dwindling value of the MBA course has forced students and parents to think otherwise.
ACCA or MBA – Which Course is Better?
The MBA course doesn’t have international recognition unless you have the qualification from reputed colleges or IIMs. On the other hand, an international association organizes the ACCA course. Hence, the ACCA course has recognition across the globe and the candidate can join firms located anywhere in the world.
Let’s see the comparison between MBA and ACCA.
|Internationally recognized course||International recognition limited to certain colleges only|
|Association of Chartered Certified Accountants is the only body authorized to conduct the course||Any university/ college can conduct the course. Affecting the value of the course adversely|
|A thorough analysis of students, to bring them to the required standard. Subsequently, accountancy training for about 03 years to enable them to face challenges and impart business management and tactical skill. Therefore, the course is lengthier than MBA||The course can be completed in 01 to 02 years. The student will not be a thorough professional after the course compared to ACCA.|
|An exhaustive study including practical training, aiming to provide expertise in the field||Superficial training, involving case studies, group activities, and projects.|
|A plethora of job opportunities of varying nature||Commonly mid-level managerial positions only|
|It is necessary for you to join a reputed institution that has well-experienced tutors to qualify the course. As the syllabus is vast a formulated coaching methodology is compulsory for enabling the students to qualify the course without much difficulty. The placement is assured, once you qualify the course||A student can get the qualification from any college/ university. However, the placement is not assured. You need to be from elite institutions to ensure placement at the earliest|
The Tail End
From the analysis, we could conclude that ACCA has more to offer to aspiring students. With changing scenarios across the world, fast-changing business trends, the necessity of well-qualified professionals to plan the moves and manage efficiently, and the capability to perform multiple tasks simultaneously, ACCA qualified candidates are preferred more.
If you need to qualify the ACCA exam you need the best ACCA coaching. Logic School of Management in Kerala provides the best ACCA coaching in Kerala and other major cities in India. The ACCA courses will necessitate you to work hard to get qualified. However, the qualification will open up a sea of opportunities for the candidates. The entry-level pay of an ACCA itself is higher than most of the other professionals. You can also consider turning a freelancer if you are not interested in joining an organization.
You need to be at the forefront of changes and adapt those changes to gain the most from it. We believe that the glory of the MBA is diminishing at a faster rate. This has resulted in numerous jobless MBA graduates. In case you are pondering upon joining either MBA or ACCA, think wisely and choose the course that can change your life in a positive manner.