CA vs ACCA, Which is better?

CA and ACCA courses have their unique features that make them one of the most popular financial and business accounting courses. However, both courses can be placed at different levels when it comes to job opportunities in India and abroad.

 

What is CA and what is Eligibility for CA?

CA stands for Chartered Accountancy and is one of the most sought-after and rewarding career options among commerce students. Chartered Accountants are the only authorized professionals who can audit the financial statements of an organization in India and the demand for CA is increasing rapidly over time.

He is considered an expert in various domains ranging from accounting and auditing to finance, taxation and corporate law. Career opportunities after becoming a Chartered Accountant are countless. They can join an audit firm or a local or multinational company as an internal auditor, or join some foreign or local banks to guide them in their financial and legal affairs, or start their own practice.

But becoming a CA is not easy and it is considered the toughest course in India. CA course can be done any time after the 12th standard. There is no age limit to become a chartered account and ICAI does not bar students from any attempt to write this exam.

Even after being an Indian-recognized course, the best part of Chartered Accountancy is that it is not associated with any reservation system during the course of study or during placement.

 

Eligibility for CA:

  • Candidates must have completed 10+2 in any stream and
  • have a minimum of 50% marks in aggregate.

 

What is ACCA and what is Eligibility for ACCA?

ACCA stands for Association of Chartered Certified Accountants, a globally recognized qualification spanning 180 countries, the world’s largest accounting association founded in London in 1904.

ACCA has 4,00,000 students worldwide. It primarily focuses on the excellence of the accounting and finance profession, providing its students with additional knowledge of UK GAAP, their laws, and IFRS, which is a key benefit of doing ACCA.

After doing ACCA, one can start a career in a multinational company or an Indian firm dealing with foreign clients. Australia, Ireland, the UK, Canada, and many more are some of the countries that recognize the ACCA qualification.

Eligibility for ACCA:

  • The student should have 65% marks in English and Math
  • Or Accounts subject with 50% marks
  • Graduates or students who are doing any professional courses Like CA, CS, and CMA are also eligible.

 

Difference between CA and ACCA. What does ACCA stand for and what does CA stand for?

There are many comparisons between ACCA and CA. The most notable difference between them is that CA is a local(Indian) qualification while ACCA is a global professional degree. Here are some differences between the two courses

  • CA is a local(Indian) qualification while ACCA is a global professional degree and is recognized globally.
  • CA course mainly focuses on finance and financial accounting. Meanwhile, the ACCA course focuses on taxation, auditing, account management, management accounting, etc.
  • Depending on the level of complexity of the CA program and the qualifications of the applicants, it can be completed in three to five years with additional training. With ACCA, candidates are expected to complete the course in three years with two to three years of training.

 

Advantages of CA(Chartered Accountancy) over ACCA(Association of Chartered Certified Accountants).

  1. Recognition – Those who wish to practice as a Chartered Accountant in India or join any Indian firm as a partner should not go for CA. Because CA has the monopoly on examining and auditing financial statements in India. ACCA is a globally recognized qualification that allows you to work in over 180 countries.
  2. Course Structure – ACCA is primarily designed for the global market, whereas CA is meant for the Indian market. ACCA gives you knowledge of UK GAAP, law, and IFRS. So those who want to enhance their career in India should do a CA course instead and those who are looking for global opportunity should go for ACCA.
  3. High Demand – The value of Chartered Accountants still cannot be compared to ACCA. The pass percentage of CA is 4-5% and ACCA is 40-50% which makes Chartered Accountants more demanding than ACCA.
  4. Low fee structure – ACCA is UK based as CA is an Indian-recognized course. Hence, the fee structure of ACCA is much higher than CA (fee structure).
  5. Flexibility – The ACCA syllabus is flexible and one can attempt only one paper at a time. Whereas in CA, one needs to attempt to cover at least 4 papers in a group at a time.
  6. The short duration of the course – ACCA duration is relatively short compared to other similar courses. Out of 14 papers, one can attempt a maximum of 8 papers in a year so that the syllabus can be completed in 2 years.
  7. Exemption of Papers– ACCA recognized skills you have already acquired. So after completing B.com, M.com, CA Inter, or CA Final you will get relaxation from some papers. After completing the CA final, one needs to attempt only 4 papers to get an ACCA degree.
  8. Easier than CA – ACCA has a high pass percentage, the average result is seen as 40%-50% internationally.

 

CA vs ACCA, which is more difficult?

No wonder the CA syllabus is considered tougher than ACCA considering the number of years, number of papers, the standard of course, and specialization of both the courses. But, this is a purely subjective matter and results may vary from case to case.

One of the reasons why ACCA is a bit easier to tackle than CA is flexibility in terms of tests and papers. In CA subjects are grouped. So if you fail in any subject of that group then you have to rewrite all the subjects of that group. On the other hand, in ACCA, if you fail an exam and attempt it at your convenience, you have to retake the specific subject.