ACCA (Association of Chartered Certified Accountants) and CA (Chartered Accountancy) are two very prestigious qualifications in the field of accounting and finance. These designations signify expertise in accounting; they have distinct features, requirements, and recognition. To decide amongst ACCA and CA, the aspirants can narrow it down as per their career aspirations, personal preferences, and also where they want to see themselves. So, if you’re planning to work in India and want a deeper understanding of Indian finance and taxation, CA is ideal. But if you dream of working abroad or in MNCs, ACCA might be a better choice. ACCA provides worldwide recognition, flexibility, and a curriculum designed for those seeking global prospects. Conversely, CA qualifications might be more valued in certain industries or areas because of their local focus and specialized regulatory expertise.
What is ACCA?
ACCA stands for Association of Chartered Certified Accountants and it is the oldest and world’s biggest accountancy body which was formed in the UK in the year 1904. ACCA is the most famous and fastest pathway to key positions in financial and management accounting. With a vast network of about 117 offices and over 500,000 members and students across nearly 180 countries, ACCA equips its members with the Chartered Certified Accountant designation upon completion of the qualification. This prepares you for any business’s financial and management challenges but also puts you in the position of being a qualified and respected professional to work anywhere in the world.
What is a Chartered Accounting?
A chartered accountant is a professionally trained financial service provider who may perform specific assignments in accounting. The title has international recognition because it is a title given outside the United States, just as the CPA holds a similar distinction within the country.
Chartered accountants work in these four primary areas: applied finance, financial accounting and reporting, management accounting, and taxation. Their usual activities include making audits of a firm’s statement of accounts, besides managing taxation returns.
Difference Between CA and ACCA
For those aspiring to become Chartered Accountants, either of these two distinguished courses can assist them in achieving the same, so that they can practice CA not only in India but also worldwide. These courses are not only very prestigious within the accounting fraternity but also present doors to fantastic career opportunities throughout the world. You would be given a warm welcome by the corporate world as a certified professional. It has various interesting job opportunities and good salary packages to offer. But you should understand the difference and the nuance between these two courses of accounting.
| Aspect | ACCA | CA |
|---|---|---|
| Recognition | Globally recognized | Recognized primarily within India |
| Scope | Offers international career opportunities | Primarily focused on the Indian market |
| Curriculum | Broad, covering international financial standards | In-depth focus on Indian laws, taxes, and regulations |
| Examination | Flexible scheduling, multiple exam windows | Fixed examination schedule, known for its rigor |
| Duration | Typically ranges from 2 to 4 years | The practical experience required can be obtained globally |
| Fees | Varies by location and institution, generally higher | Generally lower, consistent across locations in India |
| Career Paths | Diverse opportunities across global markets | Primarily tailored for careers within India |
| Specializations | Offers a range of specializations in accounting and finance | Focuses on specializations related to Indian financial contexts |
| Professional Body | Association of Chartered Certified Accountants | Institute of Chartered Accountants of India |
| Entry Requirements | More flexible, accepts candidates with various educational backgrounds. | More flexible and accepts candidates with various educational backgrounds. |
| Work Experience | The practical experience required is usually obtained in India. | Strict entry requirements typically require passing entrance exams like CPT. |
ACCA vs CA Which is Better?
The choice between ACCA and CA depends on your career goals and geographical preferences. Both provide excellent training and promising career prospects, but the best choice will depend on where you want to practice and the scope of opportunities you are looking for.
CA vs ACCA Salary
The salary potential for both the CA and ACCA-qualified members has a high potential to earn competitive salaries depending on their personal experience, job roles, qualifications, etc. People who have higher experience in areas of accounting and finance are entitled to earn a much higher salary quotient. In a few countries, CA’s are expected to be earning a six-figure salary or even more. For ACCA salary range is dependent on the region or country, but still, it has the potential to earn a very high salary with a global mobility option.
| Job Title | Average ACCA Salary in India (INR per annum) | Average CA Salary (INR per annum) |
|---|---|---|
| Accountant | 3-4 Lakhs | 25 Lakhs |
| Chartered Accountant | 9-10 Lakhs | 12 Lakhs |
| Auditor | 3-5 Lakhs | N/A |
| Financial Accountant | 3-7 Lakhs | N/A |
| Finance Officer | 3-5 Lakhs | 35 Lakhs |
| Financial Analyst | 4-5 Lakhs | 12 Lakhs |
| Account Executive | 3.5-6 Lakhs | 25 Lakhs |
| Account Manager | N/A | 10.5 Lakhs |
| Chief Financial Officer | 3.5-4 Lakhs | N/A |
| Business Analyst | 3.5-8.5 Lakhs | 4 Lakhs |
| Finance Controller | N/A | 24 Lakhs |
| Finance Manager | N/A | 13 Lakhs |
| Senior Account Executive | N/A | 6 Lakhs |
| Senior Accountant | N/A | 5.3 Lakhs |
| Account Assistant | N/A | 4.2 Lakhs |
ACCA vs CA: Duration and Structure
The duration and structure of ACCA vs CA qualifications differ greatly. Understanding these characteristics is critical for prospective candidates looking to successfully traverse their educational and career routes.
ACCA
The duration for completing the ACCA qualification ranges between 3 and 4 years. However, this varies depending on the prior academic experience of the student and how quickly he or she can take the exams. There are 13 exams in total, and they are split into three levels: Applied Knowledge, Applied Skills, and Strategic Professional. Other than passing these exams, students are required to complete an ethics module and also gain three years of relevant work experience.
CA
In India, there are three stages of CA qualification, named CA Foundation, CA Intermediate, and CA Final, and it normally takes 4-5 years to complete the full degree, which involves three years of articleship (practical training) subsequent to passing at the Intermediate level. Extensive preparation is needed for CA exams. The course curriculum encompasses accounting, auditing, taxation, financial management, and legislation, which means that applicants have a great foothold in finance and accounting.
ACCA vs CA Eligibility
The educational requirements for CA qualification vary with a country and particular institute offering qualification in CA. Candidates must first fulfill certain prerequisites prior to proceeding in their careers of becoming trained accountants.
ACCA
Normally, the minimum qualification to enter ACCA would be completion of secondary education with good grades in subjects such as Mathematics and English, which are similar to UK GCSEs. In addition, considering the background of qualification, ACCA has different entry points depending on your qualifications, for example, Foundation Level for students without the appropriate academic background.
CA
Entry requirements for CA differ from country to country. In India, students can start the CA course after completing their higher secondary education, i.e., Class 12, by joining the CA Foundation course. Graduates and postgraduates in commerce with a specific percentage can join the Intermediate course directly. The process of getting the CA qualification is very tough, as it involves a series of exams and practical training.
CA vs ACCA Fee
Comparing the financial investment required to obtain ACCA vs CA (Chartered Accountant) qualifications might help you plan your accounting and finance studies.
ACCA Fee
The fees for acquiring an ACCA qualification are very high based on the place and institution you opt to study. The students will have to pay an average of ₹1,60,000 to ₹ 2,00,000 towards ACCA Registration Fees, examination fees, and study materials. Tuition fees are extra, if you study in college or university classes. Despite all these fees, people feel that the value is justified by the world recognition of the ACCA qualification and the earning potential post qualification.
CA
CA qualifications are often less expensive than ACCA qualifications. In India, the overall cost of the CA course, including registration, study materials, and exam fees, is between INR 70,000 and 100,000 (about $1,000 to $1,400). This makes CA more affordable for many students.
ACCA vs CA Job Profile
Professionals working in both CA and ACCA work pretty much in the same field of functionality, that is, audit, financial accounting, and financial management. But the area of specialization is pretty much different for each of them, and the job role also varies with qualifications and professional background. If we compare CA with ACCA, CA has a focus on audit, taxation, and financial reporting, whereas ACCA professionals have wider scope in the areas of management accounting, business advisory, and also risk management.
CA vs ACCA Recognition
CA and ACCA can take up jobs as qualified accountants, but they differ in global recognition and mobility. ACCA is identified globally and also offers opportunities for them to take up jobs globally in the same domain. As far as CA is concerned, it is recognized in a few countries or regions and also in certain kinds of industries and sectors. The choice between CA and ACCA is purely dependent on an individual’s career choices and aspirations.
ACCA vs CA Which is Tough?
Comparing the level of difficulty between ACCA and CA requires several considerations. CA, generally, looks like a tougher course in light of its sheer volume of study material, the rigorous exam schedule, and its time-consuming preparation. All these aspects contribute to making it sound harder than the others. However, that doesn’t mean ACCA is something simple or not as challenging by comparison. Although ACCA boasts a higher pass rate and is recognized in 180 countries, which gives better career opportunities and entry into global markets, it still demands a good amount of effort and understanding.
These reasons account for why the CA course appears to be harder than others, such as the number of papers, structured levels of the course, and tight grouping of subjects, in which failing a single subject from the group requires one to retake all subjects from the same group. On the other hand, ACCA gives one an option to re-take subjects one fails, and at his/her convenience. While this flexibility may make ACCA easier to manage for some, the challenge each qualification presents can vary significantly from one individual to another, making this a subjective issue.
Conclusion
Both ACCA and CA qualifications offer pathways to rewarding careers in accounting and finance. ACCA provides global recognition, flexibility, and a comprehensive curriculum, making it suitable for candidates seeking international opportunities. On the other hand, CA qualifications may be preferred in certain jurisdictions or industries due to their local focus and specific regulatory knowledge. Ultimately, the choice between ACCA and CA depends on individual career goals, preferences, and the desired geographical scope of practice.
ACCA vs CA FAQs
Which qualification is more recognized internationally, ACCA or CA?
ACCA is generally more recognized internationally, with its qualification accepted in over 180 countries. It offers greater mobility and opportunities for global career progression.
What are the typical entry requirements for the ACCA and CA programs?
ACCA has flexible entry requirements, allowing candidates from various educational backgrounds to enroll in the program. CA programs may require specific academic qualifications or prerequisites, varying by country or region.
How long does it take to complete ACCA or CA qualifications?
The duration of both ACCA and CA qualifications varies depending on factors such as prior education, exam performance, and study pace. Generally, ACCA takes around three to four years to complete, while CA programs may vary in duration.
Are there any exemptions available for ACCA or CA exams?
ACCA offers exemptions from certain exams based on candidates’ prior qualifications or professional certifications. CA programs may also grant exemptions for relevant academic achievements or professional qualifications.
Which qualification is better for career advancement, ACCA or CA?
Both ACCA and CA qualifications can lead to successful careers in accounting and finance. ACCA offers global recognition and opportunities, while CA qualifications may be preferred in specific industries or regions. The choice depends on individual career goals and preferences.
ACCA vs CA which is easier?
The difficulty between ACCA (Association of Chartered Certified Accountants) and CA (Chartered Accountants) can vary based on individual strengths and preferences. ACCA tends to have a more global focus, covering international accounting standards, whereas CA qualifications may be more tailored to specific national regulations.
