When you think of the best accounting course, CA is probably the first thing that pops into your mind. But there are so many other certifications that are valued in the accounting industry.

Here are some of the most prestigious accounting certifications for a stellar career in the industry.

1) Chartered Accountant (CA)

Let’s start with the most popular one, which is also the most valued accounting certification in India. 

Who offers it?

The Institute of Chartered Accountants of India is the professional body that offers this certification.

Eligibility:

You should have completed your plus two.

How can you get certified?

Getting a CA certification can be a long and hard journey. You will need to fulfil the following requirements.

• Register with the ICAI: You can register with the ICAI and enrol in the CA foundation course after completing your plus two.
• Three Levels of Examination: There are three levels you need to pass in order to get a CA certification. First, the foundation exam; next, the intermediate exam; and lastly, the final exam.
• Complete Articleship Training: You will need to complete three years of training under a registered chartered accountant. You will only be allowed to appear for the CA final exam after a minimum of two years of training. Completing the three year period is necessary to become a registered chartered accountant.
• Finish the CGMS course: The CGMS, or complete general managerial skills course, teaches you everything about management and communication. You need to complete this course to qualify for the CA certification.
• Apply for CA registration: Once you’ve completed all of this, you can finally apply to the ICAI to become a registered chartered accountant.

How difficult is it to qualify?

It takes about five years of dedicated study to pass the CA. You will need to complete the foundation and intermediate courses and clear the exams. After which, you need to complete articleship training and appear for the final exam. The hardest part about qualifying for the CA is the long duration and being able to manage your training alongside your studies.

What are the job opportunities?

There are several job opportunities for chartered accountants in the fields of auditing, banking, and financial services, as well as in the corporate sector.

2) Certified Management Accountant (CMA)

A CMA certification is useful for accountants looking for a career in finance consulting and management.

Who offers it?

The Institute of Management Accountants (IMA) offers this certification.

Eligibility:

You should have completed your bachelor’s.

How can you get certified?

You will need to complete the following requirements to receive an IMA certification.

• Register with the IMA: You will need to become an IMA member, which involves paying a membership fee, adhering to IMA ethics, and meeting CPE, or continuing professional education.
• Clear the CMA Exam: After you obtain membership, you will need to clear the two parts of the CMA exam within the stipulated time.
• Professional Experience: In addition to qualifying for the exam, you will need to complete two years of training in a relevant field.
• CMA Certification: Once you have cleared the exam and have completed the mandatory training period, you will receive your CMA certification.

How difficult is it to qualify?

The CMA exam covers an expansive range of topics in its two parts. However, students have three years to finish qualifying for both parts, which gives sufficient time for preparation. Around 45% of those who write the exam are able to clear it.

What are the job opportunities?

CMAs can get jobs as financial managers or management accountants in the corporate sector. 

3) Certified Financial Analyst (CFA)

If you love finance and marketing, then you should consider the CFA certification.

Who offers it?

This certification is provided by the CFA Institute.

Eligibility

Bachelor’s degree with accounting and business-related courses.

How can you get certified?

These are the steps you need to take to get a CPA certification.

• Enrol in the CFA programme: Enrol in the CFA programme with the CFA Institute.
• Pass the examinations. There are three levels of exams you need to pass.
• Work Experience: You need to complete four years of work experience.
• Register with the CFA Institute: After you have cleared all three levels of CFA, you need to apply for membership with the CFA Institute.
• Apply for a CFA charter: Once you have cleared all of your exams and have completed 4 years of work experience, you can apply for a CFA charter.

How difficult is it to qualify?

Passing all three levels of the CFA exam is a challenge. The additional four years of experience required for receiving a charter makes the certification even more difficult. According to the latest reports from the CFA Institute, the pass percentage for the Level 3 exam was around 44%.

What are the job opportunities?

Once you’ve obtained a CFA charter, you can get jobs in portfolio management, research and analysis, venture capitalism, and investment banking.

4) Association of Chartered Certified Accountants (ACCA)

ACCA  is a globally recognised accounting certification that is ideal for accountants looking to go abroad.

Who offers it?

The ACCA. provides this certification.

Eligibility

There aren’t any fixed educational requirements for the ACCA.

How can you get certified?

These are the requirements to get an ACCA certification.

• Modules and Exams: You need to complete these four modules and their exams: Applied Knowledge Module, Applied Skills Module, and Strategic Professional Module
• Practical Experience: A minimum of 36 months of practical work experience is required.
• Ethics and Professional Skills Module: In addition to clearing the three levels of exams and completing practical experience, you will need to complete the ethics and professional skills module.

How difficult is it to qualify?

Getting an ACCA certification can be a long process and requires a significant time commitment from candidates. The overall pass percentage is 35–40%.

What are the job opportunities?

With an ACCA certification, you can get jobs in a wide range of areas, such as auditing, consulting, and risk management with MNCs.

5)  Certified Financial Planner (CFP)

Who offers it?

This course is offered by the CFP Board.

Eligibility

You should have completed your bachelor’s.

How can you get certified?

You will need to go through the following steps to get certified.

• Register for the CFP programme: You will need to register for and complete the CFP education programme.
• Clear the Exam: The examination covers all topics related to personal financial planning.
• Experience: You will have to complete 6,000 hours of professional experience.
• Ethics: You will need to comply with the CFP Board’s ethical requirements.

How difficult is it to qualify?

CFP is relatively easy compared to other certifications, such as CA. The pass percentage is 63%.

What are the job opportunities?

CFPs can get jobs as financial planners, cost analysts, and wealth advisors.

Launch Your Career

Enrolling in accounting courses and getting a professional certification will bring many advantages to your career. Find your area of interest, whether it be auditing, financial management, risk analysis, or consulting, and pursue the relevant accounting course.