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List of Accounting Qualifications to Boost Your Career in UAE

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Accounting professionals in the UAE who have received certification from a professional body are the highest paid in the UAE, says a survey conducted by the Institute of Management Accountants (IMA) in 2019.

Responses say that professionals who have advanced degrees earn 95% higher than those with only bachelor’s degrees, while those in top management get 88% more than those in senior management positions.

Keeping that in mind, we have collected a list of qualifications you can work on to boost your career.

Accounting Qualifications to Boost Your Career in UAE

1. Chartered Accountant

Institute of Chartered Accountants of India (ICAI)

Obtaining a chartered accountant qualification may appear time-consuming and difficult, but it will provide you with a significant and long-term professional boost if you live in the UAE. The ICAI has chapters in the UAE, allowing qualified members to practice effectively in the country. The more relevant experience you have, the better your income and possibilities for growth are.

Steps

Chartered Accountancy takes 3-5 years to complete which includes exams as well as necessary experience. Common Proficiency Test (CPT) is a primary qualification test that evaluates your commerce and accounting skills. Once you graduate from school (grade 12), you can attempt CPT exams that are conducted twice a year. Graduates are exempted from CPT and can directly enter the intermediate program.

CA's intermediate program – Integrated Professional Course Certification (IPCC), is divided into two topic divisions. Exams for the IPCC are held twice a year. Candidates must complete three years of on-the-job training as article or audit assistants (articleship) after clearing the first group. After completing both IPCC exam groups, candidates can take the final exam in the last six months of articleship.

2. Certified Management Accountant (CMA)

CMA – Association of Accountants and Financial Professionals in Business (US)

Obtaining certification as a certified management accountant is generally to boost one's accounting career, and hence is highly valued by those in mid-level jobs. The course study and exam formats are designed to cater to the working professionals that enhance its appeal to those who don’t want to quit their jobs to pursue a degree. For Indian expats who obtain a CMA outside of India, the Institute of Cost Accountants of India (ICAI), earlier known as ICWAI, offers membership.

Steps

Any graduate can enroll for the CMA course, which consists of two sections and requires two years of relevant experience. You can apply and begin the CMA course as a fresh graduate. Meanwhile, fulfil the experience criteria by working in a related accounting position.

Furthermore, if you have more than two years of experience and are currently employed, you can use that experience to apply as your relevant CMA experience. This means you can become certified within a year. The two parts of the exam can be either be taken jointly or separately. The exams are conducted three times a year over three different testing windows.

3. Chartered Certified Accountant

ACCA – Association of Chartered Certified Accountants (UK)

ACCA can be compared to the Indian CA when it comes to subjects covered and the difficulty levels. The situation is also quite similar even in terms of professional scope and job opportunities in the Middle East. Nevertheless, unlike CA, this allows you more scope to study part-time making it a good choice for working professionals.

Steps

A foundation level needs to be passed before ACCA qualification. A candidate who has recently graduated from high school or who has taken a long gap from studies should begin with the foundation level that covers the fundamentals of accounting. Once you complete this level, you are qualified to work in junior-level positions before moving on to the ACCA qualification. You can earn a Certified Accounting Technician (CAT) after passing three additional specialist tests and gaining a year of relevant experience. The actual ACCA qualification consists of up to 14 exams (as per the exemptions based on courses taken earlier) and a three-year experience as a prerequisite.

4. Chartered Global Management Accountant

CIMA – Chartered Institute of Management Accountants (UK)

The Chartered Global Management Accountant (CGMA) is a renowned accounting course that focuses on management and cost accounting. CIMA, like IMA, offers online learning and self-study assistance to applicants who desire to learn while they work.

Steps

There are two levels for becoming a CGMA, as well as a three-year experience that can be completed before, during, or after the CGMA exam. People who have little or no accounting expertise must enter the first level i.e. a foundational level. At this level, relevant degrees or experience can earn you exemptions. After that, you'll be able to go to the CIMA professional qualification level where you can get exemptions if you have the necessary qualifications or experience.

5. Master of Business Administration (Finance)

MBA is now a basic qualification for employees in the accounting and financial industries. In fact, mid-level executives and managers with bachelor's degrees in commerce are pursuing MBA to give themselves a professional touch.

There are many distance and correspondence MBA programs available currently. However, make sure your degree is from an accredited university. You can also take a year off to pursue an executive MBA from a reputable university that focuses on working professionals and offers them a one-year intense curriculum.

Steps

Any graduate can enroll in an MBA program. You can join correspondence courses that will include online or weekend classes with annual exams. A qualifying test, such as the Common Admission Test (CAT) in India or a university-specific admission test, is mandatory for traditional MBA programs.

Others

Another course that financial professionals can learn to enhance their career is the Chartered Financial Analyst (CFA). It's more investment-oriented bridging the gap between financial planning and corporate finance coverage.