Difference between CA and ACCA
The ACCA (Association of Chartered Certified Accountants) is an international professional accounting body that offers a globally recognized qualification. It is possible for an Indian Chartered Accountant (CA) or CA student to pursue the ACCA qualification. ACCA Course for CA students is best in every aspect and career point of view.
Indian CAs or CA students who pursue the ACCA qualification will gain a deeper understanding of international financial reporting standards, global taxation principles, and corporate governance.
This knowledge can help them to become more competitive in the global job market and open up new career opportunities. In total, there are 13 exams for ACCA but as a CA or a CA student you are also eligible for certain exemptions and hence the number of exams that you need to give to complete ACCA is less. There are 5 subjects/exams exempted for CA IPCC-qualified students and for qualified CA’s there are 9 subjects/exams exempted, so you essentially just have to appear for the ACCA Professional level exams.
There are several reasons why an Indian Chartered Accountant (CA) or CA student may want to pursue the ACCA Qualification:
- International Recognition: ACCA is an internationally recognized qualification for accounting professionals, and it is recognized in over 180 countries. By pursuing the ACCA qualification, Indian CAs or CA students can gain global recognition for their skills and knowledge.
- Career Opportunities: ACCA is a highly respected qualification in the finance industry, and it can open up new career opportunities for Indian CAs. They can work in global organizations, multinational corporations, and international accounting firms. The qualification can also help them to advance their careers and increase their earning potential.
- Global Exposure: Pursuing the ACCA qualification can give Indian CAs exposure to international financial reporting standards, global taxation principles, and corporate governance. This knowledge can help them to become more competitive in the global job market and work effectively in international business environments.
- Continuing Professional Development: ACCA requires its members to undertake continuous professional development (CPD) to keep their skills and knowledge up-to-date. This can help Indian CAs to stay current with the latest developments in the finance industry and remain relevant in their careers.
- Flexibility: ACCA offers a flexible learning structure, allowing students to study at their own pace and balance their studies with work and personal commitments. This flexibility can make it easier for an Indian CA to pursue the qualification while working.
- Networking Opportunities: ACCA provides networking opportunities with other professionals in the finance industry, which can help one build valuable professional relationships and enhance career prospects.
Difference between CA and ACCA
|Recognition||Global Recognition||Recognized in India only|
|Levels||3 Levels-Knowledge, Skill & Professional||3 levels-CA Foundation, IPCC& CA Final|
|Time||2-3 years depending on your entry point (current education)||4 to 8 years|
|Group System||No Group System- Appear for individual exams as per your convenience. If a student fails an exam, they just need to appear for that particular exam||Minimum 4 exams per group to appear for. If a student fails an exam, they need to appear for all exams in that group|
|Syllabus||Follows IFRS (International Financial Reporting Standards)- applicable in India as well as overseas||Follows Ind-As (Indian Accounting Standards)- applicable only in India|
|Work Experience Requirement||36 months of work experience in any field of Accounts and Finance-related roles to become an ACCA Member (However you still become an ACCA Affiliate after completion of the course)||36 Months of Articleship experience in the field of accountancy|
|Signing Authority||Signing authority in countries such as the UK, Dubai, Singapore, etc||Signing authority in India only|
Passing rate of 40%
|the Passing rate of 3-5%|
|Cost||Rs 3.5-4 lac including training. Exam and registration fees||Rs 3-3.5 lac including training. Exam and registration fees|
|Expected Salary||4-8 Lacs INR pa||4-8 Lacs INR pa|
Overall, pursuing the ACCA qualification can be a valuable addition to the qualifications of an Indian CA or CA student and can enhance their professional skills and knowledge. ACCA Course for CA students gives wings to go Global. With the right learning, a partner like Fintram Global your journey to complete ACCA can be efficient and cost-effective.