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Career success in accounting, finance

Career success in accounting, finance

Interview with Mr Mustafa Mirchawala — Director and CEO of Mirchawala Hub of Accountancy


Mr Mustafa Mirchawala is Director and CEO of Mirchawala Hub of Accountancy. He is a global trainer of IFRs and taxation. He is also a tremendous content creator.

Pakistan & Gulf Economist had an exclusive conversation with Mr Mustafa Mirchawala about Accounting in Pakistan: ACCA scope in Pakistan, jobs and salary. Following are the excerpts of the conversation:

The professions of accounting and finance have a lot of potential in Pakistan and present a wide range of employment options in both the public and private sectors. This following will provide extensive knowledge about accounting, its significance in Pakistan, the popular accounting course – ACCA, its career potential, ACCA salaries, and more.

The Significance of accounting in Pakistan:

There has been a growing trend in recent years of students applying to work in the accounting sector and receiving formal training in it. Regardless of size, accounting is one of the most vital components of any organisation. It is imperative to acknowledge the significance of accounting in the context of business decision-making, particularly in the current day. It is a process for recording, classifying, and summarizing financial transactions to help companies make informed decisions.

As the corporate world grows more ruthless, you must have the necessary accounting expertise to ensure that your business remains competitive. That will help you advance in your profession and improve your talents as an employee in the corporate sector. Pakistan places a high importance on accounting, and businesses there nearly always seek out employees holding a CA, ACCA, or other accounting credentials. If you want to keep ahead of all your competition, you have a number of possibilities in Pakistan to hone your accounting abilities.

Accounting in Pakistan: 

The International Accounting Standards Committee (IASC) serves as the foundation for Pakistan’s accounting standards. Pakistan complies with 38 out of 41 international accounting standards; IAS 15, IAS 29, and IAS 41 are not yet in use. With the exception of IFRS 1 and IFRS 14, Pakistan has embraced all current IFRS standards.

Association of Chartered Certified Accountants (ACCA):

The international accounting education offered by the Association of Chartered Certified Accountants, or ACCA, consists of 13 tests, three years of real-world experience, and a module on professional ethics and skills. Since it is the path to the accounting profession that is expanding the fastest, it is the ideal option for students in Pakistan who wish to pursue a career in accounting. ACAD Scope, Salary, Jobs, Subjects, Duration, Requirements, and other information are provided in Pakistan. In Pakistan, there is a wide range of opportunities for accountants, as they can work for both government and private companies. This is one of the greatest accounting degrees in Pakistan, so students interested in accounting should give it serious consideration.

ACCA career scope worldwide:

There are more than 100,000 positions available every month throughout the world, so you can find worthwhile opportunities to advance your career. Here is where top companies worldwide, spanning all industries, are actively seeking candidates who possess talent and drive. Your prospects of landing a job abroad are higher. Following the completion of ACCA, around 80 global accounting partnerships and over 7,000 recognised employers are available. The finest aspect of ACCA is that it offers a variety of opportunities for candidates through its portal.

Why should you pursue ACCA in Pakistan? The key advantages:

As the country’s security situation improves, so do the business opportunities. As a result, major corporations like Microsoft, Mercedes, and Audi are establishing operations in Pakistan. Thus, there is a high level of desire among young Pakistani talent to work for these companies.

Here are some of the key advantages of pursuing ACCA in Pakistan:

ACCA career scope in Pakistan:

A recent survey conducted by ACCA, the largest accounting body in terms of student enrollment, revealed that partially certified ACCA students can make between Rs. 80,000 and Rs. 100,000. Achieving a higher income while studying is a possibility for ACCA students and affiliates in Pakistan, as indicated by published wages. Specifically, students with more than five years of experience earn three times as much as those with fewer than two years of experience.

In Pakistan, students take on a range of responsibilities while concentrating on gaining the experience required to become members. Although salaries vary widely, part-qualified accountants in top professions can make up to PKR 80,000 or 100,000 per month. Students are optimistic about their opportunities for future employment. Sixty-seven percent of respondents anticipate receiving a pay increase in the upcoming year, with 65 per cent of them expecting an increase of at least 11%. Many anticipate that completing exams and becoming an ACCA member would lead to a pay increase or promotion.

Top job options for ACCA in Pakistan:

What type of job can an ACCA-qualified person in Pakistan do? This is a question that many students have. The short answer to this is that there are many job opportunities for recent ACCA graduates, both in Pakistan and around the world. Below are some of the highest-paying positions in Pakistan for ACCA-qualified individuals.

An ACCA-qualified person can obtain work in the designations mentioned above with ease because they grasp business and risks.

ACCA salary in Pakistan:

Many students are curious about what an ACCA in Pakistan might make if they just received their qualification. The answer to the question would be that it depends on a number of things, including IQ, exam record, organisation, and communication abilities. A recent ACCA graduate in Pakistan is typically paid between PKR 60,000 and PKR 120,000 by most organisations. Since ACCA demands three years of experience before the start of the course, each company’s ACCA-qualified package may differ. The statistics table that follows displays the experience-based salaries of ACCA-qualified individuals in Pakistan.

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