CA and ACCA are two of the most honoured qualifications that are both very difficult to clear. Both ACCA and CA have similar value in India and can land you in one of the most respected and well-paid profiles. But since CA is a local qualification, it is well-recognized in India and offers relatively more when it comes to the local career opportunities. However, when it comes to global recognition and career opportunities, ACCA has the upper hand in comparison to CA.
As advantageous ACCA might be when it comes to career opportunities and recognition, a significant part of the population is still unaware of its perks and know only a little about ACCA.
If you are one of those students who are getting confused between CA and ACCA and don't know which one is better then this post is for you.
Why is ACCA Better than CA?
There are many perks of doing ACCA over CA such as:
- Globally Recognized - ACCA is a globally recognized qualification that enables you to work with giant multinational corporations and Big 4 in around180 nations where ACCA is recognized such as UK ,UAE, Singapore and many more. In comparison to ICAI's CA, qualifying ACCA can significantly broaden your career options from just one country to 180 foreign nations on respected profiles.
- International Laws and IFRS - The course is much similar to Chartered Accountancy but it gives you additional knowledge of globally accepted International Financial Reporting Standards (IFRS). Since most of the firms and corporates are seeking professionals who are aware of the International Financial Standards and laws, it is very beneficial to qualify ACCA if you are aiming to build a career and settle abroad.
- Flexibility - When it comes to examinations, ACCA is quite flexible in comparison to CA. There is no grouping system in exams so one can also attempt a single paper at a time. In contrast, ICAI's CA has a grouping system that consists of 4 papers and to pass the group, you need to qualify all 4 papers.So, there is NO AGGREGATION, NO GROUPING in ACCA making it completely flexible option.
- Less Duration of the Course - The duration of completing ACCA is relatively less when compared to CA. Out of 13 papers in ACCA, one can attempt a maximum 4 papers in a single attempt and exams happen every Quarter. Thus, the whole course can be completed within 2 years.
- Exemption of Papers - ACCA recognizes the skills you already have. So you can get exemptions from the papers based on your level of qualification. For example, if you are a qualified CA, you can claim up to a maximum of 9 exemptions and complete your ACCA qualification within 6 months.
Even a part Qualified CA, after IPCC can avail upto 9 exemptions in ACCA making the qualification a life saver for CA dropouts or students who have been struggling to clear their CA even after multiple attempts.
- Higher Pass Rates - ACCA has higher qualification rate in comparison to CA. While the global pass rate of ACCA can be as much as 60 percent, the passing rate of ICAI's CA usually lies around 10 percent.
Conclusion
Because of the huge career push and wider in-depth knowledge (of IFRS) which ACCA can give to you, a lot many qualified CA's are also now pursuing the ACCA Qualification even after qualifying CA.
Choosing between ICAI's CA and ACCA totally depends upon your career preferences.
If you are planning to settle abroad and seeking career opportunities outside of India, then ACCA can be a very effective choice for you. Also, if you are seeking to work in Big 4's and MNC's like BDO, Cipla, Intel, Grant Thornton, American express, Citibank etc; then ACCA is definitely a better choice for you.
For more information on ACCA, please feel free to reach out to the ACCA Team at VG Learning Destination at 9599983117/115/113 or email acca@vglearningdestination or click on link
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