CA and ACCA: A Complete Comparison for Aspiring Accountants

Therefore, for anyone who wishes to form a career in accounting and finance sectors, CA or ACCA sometimes becomes a vital choice. Both qualifications are highly respected worldwide and open their doors to an array of wealth-generating career opportunities. However, there is a difference between the two based on approach, requirements, global recognition, and kinds of roles they prepare for.

If you are considering becoming one of these qualified professionals, a point of differentiation between the two – CA Chartered Accountant course and the ACCA qualification – is something to be aware of. We delve deeper into the comparison of the two options for you to make the right career choice.

We specialize in preparing students for various professional qualifications, including CA and ACCA, and walk you through the important aspects of the courses to help you make informed decisions

What is CA?

CA, or Chartered Accountant, is a professional qualification provided by various institutes in more than 180 countries across the globe. One institute is the Institute of Chartered Accountants of India. The CA Chartered Accountant course is more or less based on accounting, auditing, taxation, and business law. The courses are designed to equip students with knowledge in auditing, taxation, financial reporting, and management accounting.

The Chartered Accountant course, in general, is divided into three tiers:

• CA Foundation
• CA Intermediate, or CA Inter
• CA Final

Each level will build on the previous level; the most rigorous is CA Intermediate, which does a wide area of topics that include accounting, auditing, corporate laws, taxation, and cost accounting.

What is ACCA?

The ACCA qualification is provided by the Association of Chartered Certified Accountants, and it is one of the most recognized accounting qualifications globally. It is designed to equip students with know-how and practical skills for a wide range of financial roles such as financial accounting, management accounting, taxation, audit, and financial management.

It then describes the ACCA course details, which involves passing of 13 exams categorized into three levels: Applied Knowledge, Applied Skills and Strategic Professional. These include mainly financial reporting, management accounting, taxation, auditing and also business analysis. An ACCA qualification recognized around the world lets the accountants work for other countries as no extra documentation or exam is needed.

Dissimilarity Between CA and ACCA

Now let’s compare the main dissimilarities between these two qualifications.

1. Global Acceptability

• CA : The CA qualification enjoys the highest acceptability worldwide, majorly in India, UK, Canada, Australia, and South Africa. However, acceptance or professional career opportunities are relatively place-specific. For example, a CA from India should prepare him or herself for additional requirements in countries abroad for practicing.
• ACCA :  qualification is profoundly global and accredited in more than 180 countries. This implies that if your work is most likely to extend into international areas, learning opportunities in ACCA are considered more flexible since ACCA qualifications gain recognition in several countries and can be opened without extra certification.

2. Syllabus and Focus Areas

• CA: The course is more about having in-depth knowledge of taxation, accounting, auditing, and Indian company law. More preferably for the students interested in pursuing their career in taxation, audit, and corporate finance, especially in India.
• ACCA: The modules of ACCA range from financial accounting to management accounting, audit, taxation, law, and strategic business management. This will give the student a better global view of business so that they may work in multinational corporations or be given international exposure.

3. Duration and Flexibility

• CA: This course of CA generally requires 3-5 years of time, depending on how fast one is at clearing the exams. One must have done a mandatory article-ship or practical training for a minimum of 3 years to be eligible.
• ACCA: The ACCA qualification is taken over 3 to 4 years, and it has many more flexible examination dates. Students can sit for exams at any convenient time and complete their qualification at a pace they wish; therefore, it is ideal for those who prefer a flexible learning path.

4. Entry Requirements

• CA: After plus two/12th grade, one needs to pass the CA Foundation exam to join the CA Chartered Accountant course. If you are already doing the B. Com degree, you can skip the foundation and jump into the CA Intermediate exam.
• ACCA: Students can join the ACCA course after B. Com or after the completion of some such qualification in Commerce or Business. ACCA allows students with different kinds of academic background to enter the qualification also, if you are an alumnus, you can find some exemption in specific ACCA modules.

5. Career Prospects

• CA: Career Advancement: The several steps of a Chartered Account are very promising in terms of career advancement, at the various firms and institutions such as audit firms, financial institutions, government organizations, corporate finance and taxation. The ‘CA’ role is well bedded within the Indian corporate world with a succinct career ladder.
• ACCA: International employability profile: With an ACCA qualification, you get a wider and broader employment scope across the globe. You can search for the following jobs: jobs in multinational firms, global auditing agencies, investment banks, and finance departments in diversified sectors like healthcare, energy, or technology.

Can one do ACCA after doing CA or after CA Inter?

And if you have already completed CA Intermediate (or CA Inter), then probably you would be wondering whether you can pursue the ACCA course after CA. The positive answer is that pursuing ACCA after CA inter is possible and many professionals opt to do so for enhancing their prospects in a globalized world. If you have already completed CA Inter, then you might be eligible to avail some exemption in modules of ACCA.

Similarly, for those who have done CA Final, ACCA after CA would present an excellent option to increase your professional qualifications, particularly if you want to work either in multinational organizations or outside the home country. What about ACCA after B.Com?

Immediately after a B.Com or its equivalent, ACCA is one of the most popular second degrees. After a B.Com, the ACCA course, therefore, happens to be a very great specialisation opportunity in accounting and finance if one is interested in working with international firms. Since the ACCA qualification is internationally recognized, more career opportunities for B.Com graduates occur upon recognition at a higher level of practice of accounting.

Can I do CA after ACCA?

“Can I do CA after ACCA?” is a common question asked by many students. The reply is yes. You can do the CA Chartered Accountant course if you have completed your ACCA qualification. However, you have to fulfill additional requirements set by the respective CA body in this route. Some students merge the two qualifications to open more career windows since, in some nations, for instance, India, the CA qualification is held in much higher esteem compared to ACCA.

Colleges in Kerala that Offer ACCA

For ACCA colleges in Kerala, Occassio Academy, Pattambi is the best coaching institute that offers excellent learning with top-quality ACCA coaching. We give thorough-going coaching for the ACCA qualification. The expert guidance will be available on all modules-including ACCA subjects like financial accounting, audit, taxation, and management accounting. Our approach to learning will be specifically customized so that you get the very best out of your ACCA studies and are then well prepared for success in your accounting and finance career.

Conclusion: CA vs ACCA – Which One Would You Prefer to Pursue?

These, CA and ACCA, two of the most recognized certifications to make long and successful careers in accounting and finance. If you are looking to work in India and have an interest in tax, auditing, and corporate law, then CA Chartered Accountant course could be the way forward for you. If you seek international recognition and versatility, ACCA learning promises much more exposure towards internationalization and career scope.

It depends on the individual’s career and the environment in which the individual wants to work, local or international, the accounting practices. Occassio Academy offers great coaching and guidance for CA and ACCA courses and with our support, you can be one step ahead in achieving your accounting dream career.

Still, if you do not yet determine which option to choose, come and speak with one of our experts today. We can help you explore these options and guide you towards the best choice for your future.