What the World Would Be Like if ACCA Didn’t Exist

Although many people may not consider ACCA to be as instrumental a field as medicine or other sciences, it’s highly paramount when it comes to the global economy and the business world. You could even call ACCA and other Chartered Accountancy certifications as the backbone of the world’s economy!

To imagine a world as we know it without ACCA is simply not possible. Without ACCA and organizations like ACCA, there would be no finance professionals and accountants. Here are the primary ways ACCA makes the world more helps us and makes the world more functional every day!

How ACCA Makes the World Better

Accountants are Essential

Accountants are essential to nearly every business; even if you’re a small business, at some point, granted your brand is growing, you’ll need an accountant to add professional input to your financial decisions.

So for example, you’re thinking of starting your own business. While it’s still small, you might manage by balancing the accounts and finances yourself. However, when it begins growing, more responsibility falls on your shoulders. This leaves you with less time to dedicate yourself to running so many departments all by yourself. For the financial side, you’ll need to hire an accountant.

The fact is, we need accountants; to add valuable, professional insight into financial matters. Without accountants, it would be up to people that aren’t trained for the skillset to manage finances; and it could take years for them to acquire the necessary training.

ACCA Brings Structure

ACCA and similar organizations bring structure to the world; they help run things smoothly, streamlining complicated processes. They do this by producing hundreds of financial and accounting professionals every month that go on to be instrumental members of the business community.

There would be no rules and regulations without such professionals, and it’s safe to assume the business world would be in utter disarray. And in today’s world, whatever happens in the corporate world affects every single one of us, whether we realize it or not.

Government Spending

Speaking of rules and regulations, let’s talk about government spending. Government spending is controlled and regulated by accountants in the country. ACCA brings functionality and discipline to the government’s finances, allocating funding with specific criteria in mind.

Without accountants, there would be no one to do the math and decide how much funding goes to education, healthcare, infrastructure, etc. The best institutes for ACCA and its certified professionals provide legitimacy to the decisions made by accountants, proving that government spending regulations are informed by trained professionals.

Tax Collection

Taxes are typically every taxpayer’s least favorite thing to do! Do you know anyone who enjoys doing their taxes? We bet you can’t think of anyone. With ACCA in the mix, you can pay someone to do your taxes for you! Not only that, since they are educated in the field, they’ll probably do them without errors that a layperson is likely to make.

In addition to being instrumental on an individual level, ACCA brings value to the national and international levels. Tax policies and regulations are dependent on accountants; they are mulled over and decided by ACCA professionals. Moreover, since they know the ins and outs of finance, they are the ones that can simplify the complexities of tax codes for taxpayers to do their part right.