ACCA or CA? If you’re considering a career in accounting, you’ve likely come across these two most popular designations. Both of these designations are highly respected and can lead to a rewarding career, but there are some differences between them that you should be aware of.
This blog will focus on ACCA and CA and check which option is better for you!
Global Recognition
The ACCA full form is Association of Chartered Certified Accountants. One of the most significant advantages of the ACCA is that it has a solid global presence as it is recognized over 179 countries worldwide, meaning you’ll have a broader range of job opportunities and the ability to work in various countries without having to requalify. If you aim to become a global voice, enrol at the best commerce institute in Kerala today.
On the other hand, the CA (Chartered Accountant) designation is primarily recognised in India, which means that your job opportunities may be limited to India and some other countries where the CA designation is recognised.
Flexibility
Another advantage of the ACCA course is its flexibility. The ACCA syllabus and exam pattern allows you to study independently, meaning you can work and learn simultaneously. Additionally, it consists of multiple exam sittings throughout the year, allowing you to retake them if necessary.
The CA program, on the other hand, has a strict timetable, and you must complete the program within a specific time frame. This can make balancing work and studies challenging to retake exams if necessary.
Focus on International Financial Reporting Standards (IFRS)
The ACCA course is known for its focus on International Financial Reporting Standards (IFRS). The qualification is designed to equip students with the knowledge and skills to understand and apply IFRS in their work. This is important because IFRS is becoming increasingly important in the global business world as a requirement in many countries.
The CA program, on the other hand, focuses on Indian Accounting Standards (Ind AS), which may not be as helpful if you’re planning to work in a global organisation.
Cost-effective
The ACCA program is also known for being cost-effective. The cost of the ACCA course is lower than the cost of the CA course, and the program is designed to be completed in a shorter period. This means you’ll be able to complete the program faster and at a lower cost, which can be beneficial if you’re on a tight budget.
Practical Experience
The ACCA program also requires students to complete three years of practical experience before qualifying as a member. This practical experience can be gained through internships or full-time employment, and it’s designed to give students hands-on experience in the accounting field.
The CA program also requires practical experience, but the requirements can be more rigid, and it may be more difficult to gain valuable experience while studying.
ACCA qualification is an excellent option for flexible, cost-effective, and globally recognised accounting designation. The program is designed to equip students with the knowledge and skills they need to succeed in the accounting field, and it has a robust global presence, which can lead to a broader range of job opportunities.
While the CA program is also a great option, it may be more limited in job opportunities. It may only be valid if helpful in planning to work in a global organisation. Choosing the ACCA and the CA ultimately depends on your personal goals and preferences. However, if you’re looking for a designation that will give you a global edge and allow you to work in various countries without having to requalify, then the ACCA may be the better option.