Choosing the correct professional course without jumping into a hasty decision is very important. CA and ACCA are very similar courses with respect to the field of major focus. Both CA and ACCA is crucially concentric in the field of accounting along with other subjects. Despite of the similarity in curriculum, it is imperative that you identify the differences between the 2 courses in order to decide what is best for your desired career prospects. Here are some of the points you can take for contemplation before signing up for it:
- Syllabus: Although ACCA is considered similar to CA qualification in India, ACCA provides additional knowledge of UK GAAP, Laws & IFRS, which directly puts you at advantage if you work for a Multi-National Firm or an Indian firm that works for clients abroad.
- Exam: One of the most impressive things of ACCA course is that it recognizes the other qualifications you have attained. It recognizes your graduation, post-graduation, CA Inter and CA Final Qualification also. For Example, out of the total of 13 papers in the ACCA course, a graduate or a CA Inter pass out has to appear in only 9 papers while after becoming CA you have to attempt just 4 professional level papers. Whereas the CA curriculum does not provide for any such concessions.
- Global Reach: ACCA qualifiers gets a global reach and recognition whereas the career of a CA is more or less restricted within the boundaries of Indian law, rules, practices and regulations.
- Cost: From the financial aspect, ACCA being an international course is more expensive as compared to CA, The high rate of fees are not applicable to ICAI members
- Level of Difficulty: With respect to the level of difficulty, it is common knowledge that CA is extremely tedious to crack and requires a lot more of dedication and hardwork as opposed to ACCA.
- Status: The responsibility and authority vested upon a CA heightens the societal value of the course as only a practising chartered accountant is qualified to sign the audit report in India. Nevertheless, ACCA counters this drawback by its global coverage.
- Exam Timing: Flexibility gives ACCA an edge over CA. The CA exams must be attempted as a group with no choice left to the examinee. ACCA is very flexible in this aspect as the exams can be attempted at the choice and option of the examinee, students can even attempt a single paper in each attempt.
Even though fundamentally both the courses revolve around accounting, the career paths they can lead you to are in 2 opposite directions. While CA mainly focuses on the betterment of local and national organisations, ACCA qualifiers aim at global roles and positions. The choice between the two professions is purely dependent on your desired career path.
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