Chartered Accountant (CA) is one of those flagship qualifications that are very difficult to clear. It is like a dream for many students who work hard and sacrifice many years in order to become a CA.
After qualifying the Chartered Accountancy, you become eligible to hold the most prestigious positions in Big 4 and top multinational firms.
Although passing the ICAI's CA exam lands you in the most respected profiles in India but when it comes to recognition and opportunities on a global level, Chartered Accountancy has extremely limited career possibilities.
So if you are looking for global opportunities and eventually want to settle abroad then you need to step up your game.
'ACCA' or "Association of Chartered Certified Accountants" is a UK based global accounting body that is globally recognized (179 countries) and is valued at par as the ICAI's local qualification in India.
Being a CA, if you are seeking better career opportunities outside of India or looking to bridge your existing knowledge of Ind AS then you must look into ACCA as a comprehensive qualification based on IFRS.
With the implementation of Ind AS's in India, most of the international firms require an accountant with proper knowledge of International Financial Reporting Standards ( IFRS) and qualifying ACCA gives you the knowledge and opportunity to work with these companies.
Besides that, there are also many other benefits of qualifying ACCA after CA such as:
1. Multiple Exemptions: An Indian Chartered Accountant can get up to 9 exemptions out of 13 papers of ACCA (from F1 to F9). You can directly start your qualification at the professional level become an ACCA by only passing the 4 papers.
2. Global Recognition: Qualifying ACCA after CA helps the candidates by opening new doors of opportunities for them.
As a member of ACCA, you are eligible to work on various profiles in multinational firms. ACCA is recognized in nearly 180 countries worldwide as compared to CA which is only acknowledged in India. Henceforth, qualifying ACCA can gradually expand your career options.
3. Flexibility: ACCA is quite flexible when it comes to exemptions and work experience. As a qualified Chartered Accountant, you already get exemptions from 9 papers in ACCA. Not only that, your articleship after the IPCC group 1 also counts as the Practical Experience Requirement (PER) for ACCA.
Furthermore, there is NO GROUPING, NO AGGREGATION in ACCA exams that means you only need to reappear for those papers that are not cleared.
4. Exams: ACCA exams are held 4 times a year. That gives you sufficient time to prepare as per your convenience thus there is a higher chance of passing. Also, the passing percentage of ACCA averages around 60 percent that is considerably high in comparison to CA.
5. Global Opportunities: After qualifying the ACCA you get the knowledge of International accounting laws and standards that are required by the firms on a global level. ACCA qualified candidates are highly preferred in accounting roles, forensic accounting, business valuation, tax and treasury management and many more.
Conclusion:
Well taking the ACCA exam after qualifying the ICAI's Chartered Accountant totally depends upon your career preferences. If you are seeking career opportunities outside of India or looking to work for Big 4s and MNC's in India that need IFRS (IndAS) knowledge, then ACCA can be a very effective choice for you.
It will help you expand your wings and become a GLOBAL CA- an ACCA!
For further enquiries, please reach out to VG Learning Destination, a GOLD Approved Learning Partner of ACCA run under the guidance of Tax Guru CA Vinod Gupta Sir�at 9599983113/115/117
or email acca@vglearningdestination.com or click on link http://vglearningdestination.com/vgldlanding/acca/acca-enquiry?adspart=ca_club
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