ACCA VS CA | Which course is right for you?

Deciding between ACCA (Association of Chartered Certified Accountants) and CA (Chartered Accountant) can be a very critical decision for students who want to pursue a career in finance and be successful. Both courses offer monumental opportunities, though, and the ideal one depends on which field you could see yourself promoting global or purely local finance. Below is a breakdown of each course with comparisons of different factors to enable you to make the right choice.

Recognized in the entire world, ACCA was developed back in the United Kingdom in 1904 to equip professionals with a broad spectrum of skills in finance, management, and strategic decision-making. The ACCA qualification is extremely valuable across a number of sectors; as such, it opens up many avenues where you can work in any sector around the world. With ACCA, one could be an accounting specialists or, even more broadly, a financial manager-auditor-business consultant.

India and several countries consider the Chartered Accountant qualification to be one of the highest honors. A CA course includes accounting, auditing, taxation, and compliance with local financial laws of the region. The graduates are quite in demand due to their knowledge of the intricate handling of finance, tax rules and regulations, and auditing. In India, CA certification is considered as an accolade, especially the disparate plains of finance, governance, and corporate strategies.

Benefits of ACCA

Recognized globally: ACCA is recognized in more than 180 countries which makes it ideal for job search globally.
Flexibility: ACCA provides flexibility as well due to its examination schedule. It provides flexibility to the student to find a proper balance between studies according to work or any other commitment.
Diverse Profession: ACCA professionals can opt for a wide variety of jobs in finance, consultancy, business management or auditing.

Benefits of CA

High Demand in India: CA professionals are in huge demand in India and, more importantly, in top-notch organizations, corporate houses, and even government roles.
Extensive Specialization: The CA course provides extensive specializations in taxation, auditing, and compliance that are particularly critical for top management places in financial firms.
Local Specialization: The CA course emphasis is on the local financial regulations and Acts. This is what makes CA the qualification for professionals seeking to rise within the Indian market.

It is very much a function of experience, industry, and location in the case of salary due to ACCA and CA.

ACCA: The ACCA professionals are paid at much higher scales in the international markets. For example, a fresh ACCA practitioner could expect ₹5-8 lakhs per annum in India. For someone who is experienced, one might expect ₹15-20 lakhs a year.

CA: Opportunities for Chartered Accountants in India are great. The starting salary for a CA is between ₹ 7-10 lakhs per year, and on average ₹20 lakhs per year is the salary for experienced individuals. Senior CAs working in multinational companies or large conglomerates can be paid even more money.

ACCA is very advantageous because it grants exemption for students holding existing qualifications. For example:

Graduates: You can get up to 9 exemptions out of 13 exams.
CA professionals: You can get an exemption from most of the exams if you are an already qualified CA, thus helping you gain the qualification of ACCA even faster.
Comparison: Recognition of ACCA vs CA
ACCA: It is recognized worldwide in more than 180 countries, making it a very good opportunity for people considering job opportunities internationally. Members can be employed in the UK, Canada, Australia, and the Middle East, for it is widely accepted by multinational companies and financial institutions.

CA: CA is very much respected in India but not at the international level to the scale of recognition that ACCA enjoys. Still, a CA can work globally by pursuing additional qualifications or certifications where that recognized within other nations.

ACCA: The ACCA has 13 exams divided into three levels which are:

Applied Knowledge
Applied Skills
Strategic Professional
The ACCA examination system is quite flexible, and you can choose at which point you want to sit for the exams. These exams can be taken at your own time and pace, based on your convenience.
CA: The CA course is further split into three streams, which are as follows,
CA Foundation
CA Intermediate
CA Final

CA exams are conducted in such a structured time frame that dates for every level of exam are predecided. The course is more structured and voluminous because of its rigid framework and vast syllabus.

ACCA: Here, for ACCA, the duration all depends on the working pace of a student. Most students complete ACCA in 3 to 4 years. In case you have exemptions, it cuts down this period by a big margin.

CA: For a CA course, it takes much longer where most students take up about 4 to 5 years to complete all the levels and undergo the statutory articles

ACCA: ACCA is more about strategic business management along with accounting and finance. It also offers ethics, professional skills, and global financial reporting standards.

CA: CA is very much specific towards accounting, auditing, taxation, and Indian law-based studies. It is an expert at managing local financial services and is recommended for experts who have expertise in the Indian market.

ACCA: Global Career Scope Through ACCA. 

ACCA professionals can work in multinational companies, financial services, consulting firms, governmental organizations, and many more. They are a financial analyst, auditor, business consultant, management accountant, or many other different ones.

CA: There is a big demand for CA professionals in India because they can aim at the top jobs available in a country like India, including auditing, taxation, and corporate finance. Many of them hold senior positions as financial advisors, auditors, and tax consultants. CAs can even start their own practice or join leading organizations like the Big Four Firms, which includes Deloitte, EY, KPMG, and PwC.

Both ACCA and CA are very prestigious and respected qualifications with excellent opportunities for careers. This again varies from person to person according to the career path he or she would like to pursue. If you want to work in the global world and still want to have a wide, flexible career with expertise in the finance field, then ACCA would help. If you are really targeting a fantastic career in India and deep learning in accounting audit and taxation, then you should choose CA. It doesn’t matter which one you decide because both qualification paths provide enormous prospects for development and career success.

At Unique Global Education, we will walk you hand in hand through our broad portfolio of courses to ensure you are successful in your ACCA or CA journey. Contact us today to begin the process of changing your career!