Accounting professionals work in foreign countries after completing the globally accepted qualifications. Some countries value the Indian accounting qualification. The oil and gas industry, construction industry, real estate industry, residential and commercial real estate market, tourism industry, logistics industry, e-commerce sector, financial services industry, retail industry, and healthcare industry are the top industries in UAE. Abu Dhabi national oil Company is the market leader in the oil and gas sector. Shell, ExxonMobil, BP, Total SA Halliburton, and Schlumberger are the popular international companies invested in UAE. Abu Dhabi, Ras AI Khaimah, Ajman, Sharjah, Umm Alquwain, and fajairah form the UAE country. These seven emirates are together called UAE.
UAE has recently introduced a ten-year residency visa option. The country attracts foreign investors and long-term residents to sustain national development. Globally, the quality of higher education in the UAE stands at 12th place. There are eleven priority sectors in UAE. Industrial policies create quality infrastructure. The blog intrigues readers by digging deep into the demand and value in the Middle East region. The top five qualifications valued as per the job roles in UAE are chartered accountancy from India, cost accountancy from India, CMA from the USA, ACCA from the UK, and CIMA from the UK. These qualifications have their roots in different countries.
CA from ICAI:
Indian CA is valued and valid in UAE. The chartered accountancy course has two routes. The direct route and the foundation route. The students in the direct route entry should clear the intermediate and final levels. Before the CA final level, article ship training is compulsory. The students in the foundation route should pass the foundation, intermediate and final levels. Some jobs in UAE ask for knowledge of Arabic languages. The job roles also demand knowledge of MS Excel, Zoho accounting software, and QuickBooks. The international review world tax rankings say that Deloitte in the Middle East is the tier one tax advisor. The senior level positions require the knowledge of transfer pricing, VAT, interacting with internal auditors, withholding tax, corporate tax, calculating deferred tax and current tax, analysing risks associated with transfer pricing, analysing the trends and recommending a budget to control expenditure, maintain healthy relationships with international stakeholders and tax advisors. For the post of audit associate, an accounting qualification with relevant experience is enough. The junior-level posts require communication skills and team-building capacity.
CMA from ICAI:
Indian CMA is valued and valid in UAE. The students with qualifications of Indian CMA, US CMA, CPA and MBA compete for the post of cost accountant. The job of a cost accountant in UAE deal with production cost, inventory management, preparing reports of financial data, computing tax, complying with regulations, managing capital and operating expenses, checking the accounts receivables, and accounts payables, checking the branch accounts, understanding the business processes and controls and assisting management in the decision-making process.
CMA from USA:
Global CMA helps position jobs from the global job market. CMA USA requires two years of relevant job experience. Previous job experience and qualifications are valued during this course. Fresh graduates may join the course, and take up practical training during the learning. The two exams of USA CMA are allowed to perform at one time also. CMA graduates deal with financial accounting and management accounting. The students with USA CMA understand ethics, strategic management, data analysis, financial planning, and technological advancements. CMA in Dubai earns a salary of $111000 per year. Cost accountants understand investment opportunities, possess a high level of knowledge, and take the best decisions for the growth of the business. Cost accountants complete the projects assigned at the right time and cost. Cost accountants foster excellence in completing the process of compliance. The students with the USA CMA degree understand the pricing structure, costing structure, development of efficient accounting system, profitability analysis, and report on margin analysis, understand the periodic variances, and make decisions about new proposals and expenditure decisions.
ACCA from the UK:
In ACCA, three years of job experience is necessary. The course has fourteen examinations. The name of the two modules is the ethics and professional level subjects. Students write foundations, intermediate, diploma and certified accounting technician examinations in ACCA courses. The students should complete the applied knowledge, applied skills exam, professional exams, essentials, and options. After the completion of nine examinations out of fourteen examinations, the student gets a CAT qualification. The difficulty level of ACCA is similar to CA from India. ACCA is a global certification and the most sought-after certification. The professionals with ACCA qualification work in the following job roles: financial accountants, accounting advisers, investment advisory, taxation experts, corporate finance, budget managers, and internal auditor. The knowledge of a chartered accountant and ACCA professional differs when handling the core departments of the business. Digital technology, innovative strategies, leadership skills, risk management, business reporting, financial management, taxation knowledge, and audit consultancy knowledge differ according to the courses completed by the professionals. ACCA is a global certification and is recognised by more than 180 countries. ACCA qualification is necessary for managing diverse people and management techniques to manage everyday work.
CIMA from the UK:
The CIMA course requires three years of experience. It gives the option of learning when you learn. This course is suitable for working professionals. The course has two levels. The first level is the foundation and the second is the professional level. Students with prior professional qualifications can apply for the exemptions. The CIMA professionals are demanded high in UAE. The employers look for the following skills in a CIMA professional: SAP knowledge, PowerBI, data sets, PowerQuery, analytical skills, project management skills, providing regular reports to the regional and global teams, troubleshooting and managing cost centres, and supporting the ongoing financial processes. The CIMA graduate with less experience work with analysts and teams. The CIMA graduates with more experience work in a multinational environment. They work as business partners and commercial finance managers.
The tax laws and cost theories represent the country’s advancement in technology, and fluctuations in economic conditions. The professionals working in UAE understand the industrial revenue, economic condition, and technological challenges. Industries with huge revenues have to manage the competition and global demand. The above said qualifications are highly valued in UAE.