Singapore is a thriving financial hub, attracting professionals from all over the world, including a significant number of Indian accountants. While many professionals pursue a degree in accounting or finance, the Association of Chartered Certified Accountants (ACCA) qualification is increasingly becoming the key to success in Singapore’s competitive job market.
For Indian accountants working or aspiring to work in Singapore, obtaining an ACCA certification can open doors to better job opportunities, higher salaries, and career advancement. In this article, we explore why the ACCA qualification matters more than a degree and how it can impact your career in Singapore.
Indian accountants form a crucial part of Singapore’s finance and accounting workforce. Many professionals move to Singapore for better career prospects, higher salaries, and an opportunity to work in one of the world’s leading financial centers.
While having a degree in accounting or finance is an advantage, it is not always enough to secure top-tier accounting jobs in Singapore. The industry values practical knowledge, international expertise, and professional qualifications—this is where ACCA becomes essential.
The Association of Chartered Certified Accountants (ACCA) is a globally recognized professional qualification for accountants. It equips candidates with the knowledge, skills, and ethical framework needed to excel in the accounting profession. The ACCA qualification is accepted in more than 180 countries, including Singapore, making it one of the most sought-after certifications for accounting professionals.
To become ACCA-certified, candidates must:
A degree in accounting is often limited to specific countries or institutions, while ACCA is recognized internationally. For Indian accountants in Singapore, this means greater career mobility, as ACCA allows them to work in various multinational companies, banks, and financial institutions across the world.
Having an ACCA qualification also increases job opportunities in other financial hubs such as London, Dubai, and Hong Kong. Employers see it as a benchmark of excellence, making ACCA holders more competitive than degree holders without professional certifications.
Professionals with ACCA qualifications tend to earn higher salaries compared to those with only a degree. Employers in Singapore value the specialized knowledge and global standards that ACCA-certified accountants bring to the table.
According to salary reports, an accountant with an ACCA qualification can earn 20% to 40% more than someone with just a degree. This salary gap increases with experience, as ACCA holders often advance faster to managerial and leadership roles.
Many top employers in Singapore, including PwC, Deloitte, KPMG, and EY, prefer hiring accountants with ACCA qualifications for senior positions. While a degree provides foundational knowledge, ACCA training ensures that professionals are well-versed in international accounting standards, IFRS, taxation laws, and auditing practices.
For Indian accountants aiming for roles such as Financial Controller, Chief Financial Officer (CFO), or Audit Manager, ACCA is often a prerequisite. Companies trust ACCA-certified professionals to handle complex financial reporting, risk management, and regulatory compliance.
A degree in accounting is largely theory-based, focusing on principles, formulas, and financial concepts. However, ACCA emphasizes practical skills such as:
Employers in Singapore prefer accountants who can apply these skills to real-world scenarios, making ACCA holders more valuable in the job market.
Unlike a degree, ACCA allows professionals to study while working, making it a convenient choice for Indian accountants already employed in Singapore. Many professionals complete their ACCA exams while gaining relevant work experience, which helps them earn promotions and salary increments faster.
With multiple exam sittings per year, candidates can complete ACCA at their own pace, balancing work and studies effectively.
Indian accountants with a background in commerce, finance, or accounting may be eligible for exemptions in some ACCA exams. If you have a bachelor’s degree in accounting, you may skip some foundational exams and start at a higher level.
Visit the official ACCA website and register as a student. The registration process involves submitting academic documents, paying a registration fee, and choosing a study plan.
Candidates can prepare for ACCA through:
Many professionals prefer online courses due to their flexibility and affordability.
ACCA exams are held multiple times a year. While studying, candidates must also gain three years of relevant work experience to qualify for full ACCA membership.
This module helps candidates develop ethical decision-making skills, which are crucial for senior accounting roles.
While ACCA offers significant career benefits, it is also challenging. Here are some common difficulties and how to tackle them:
ACCA exams are tough, with pass rates ranging from 35% to 50% for many subjects. To improve your chances of success:
Many professionals struggle to balance their jobs with ACCA preparation. To manage time effectively:
ACCA requires an initial registration fee, annual subscription fee, and exam fees. However, it is still cheaper than an MBA and offers better career returns. Many employers in Singapore also offer sponsorships for ACCA candidates.
For Indian accountants in Singapore, ACCA is more valuable than a degree when it comes to career growth, salary potential, and international opportunities. While a degree provides foundational knowledge, ACCA offers practical skills, global recognition, and employer preference, making it a crucial step for those aiming to excel in the field of accounting.
If you are an Indian accountant looking to build a successful career in Singapore, investing in ACCA could be the best decision you make.
This article is for informational purposes only and does not constitute professional financial or career advice. ACCA qualification benefits vary by individual experience and job market conditions. Please consult with a career advisor or ACCA representatives before making any decisions.
Taylor
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2025.04.02
