When it comes to choosing a qualification, two factors dominate our reasoning: salary and scope
In the modern world, from mobile phones to clothes we want everything upgraded but when it comes to education, most people prefer to go with the crowd.
As a commerce student, we have a myth in our mind that in India, CA is the only and best qualification. While there is no doubt that CA is one of the best qualifications in India, but there are other qualifications too which are highly sought after and preferred by employers in India and globally like ACCA.
Now the question is which one to choose ACCA or CA. Here we are going to give a brief idea about both the courses so that you can decide which course will be most suitable and beneficial for you.
ACCA stands for Association of Chartered Certified Accountants (UK) supporting 6,86,000 students and members across 183+ countries. CA course has been organized by ICAI (Institute of Chartered Accountants of India). Both the courses are highly desirable and designed for the accounts and finance professionals.
A Comparative Analysis between ACCA and CA
| PARAMETERS | ACCA | CA |
| The main idea behind the course | Provides a solid foundation in Core Accounting Principles. Mainly useful for International Taxation, Finance, Risk Management, Internal control, and Auditing Profile. Helps in developing strategic decision-making skill also. | Provides knowledge of Accounting Principles, Taxation, auditing & Indian Company Law |
| Professional body | Association of Chartered Certified Accountants | Institute of Chartered Accountant of India |
| No. of papers | 13 Papers | 19 Papers |
| Exemption | Max 9 Papers | None |
| Eligibility | Straight after class 10 | 10+2 |
| Exam Window | March, June, Sept, and Dec | May-June and Nov-Dec |
| Pass Rate | 50-60% | 5-10% |
| Duration | Minimum 6 months -Maximum 2.5 Years (Depends on Individual’s existing Qualification) | Approximately 5-7 Years |
| Practical Training Required | 36 Months | 36 Months |
| Total Cost | 2-3 Lacs | 2-3 Lacs |
| Salary | Fresher: INR 5 Lacks – 6 Lacks p.a (part qualified) INR 8 Lacks-10 Lacks (Fully qualified) | Fresher: INR 3-5 Lacks p.a |
| Recognition | 181+ Countries | Only in India |
| Signing Authority | More than 78+ Countries | Only in India |
After reading the above comparison, we are sure that you got a clear idea about ACCA and CA. CA is more difficult to crack because of its complex exam pattern and bookish approach where ACCA is easier to clear compared to CA because of its flexible exam pattern and practical approach. Also, ACCA is less time consuming than CA which is preferred by students and professionals.
ACCA after or along with CA
You can also pursue ACCA along with CA as one the basis of your CA you will get numerous benefits and exemptions.
Here are few of many pros of doing ACCA after CA:
Recommendation:
if you want to grow only in India or set up your own practice in India, you should go with Chartered Accountancy but if you planning to set up outside India, or MNC’s in India or in different types of organizations who have clients in abroad, then ACCA will be a better option. As far as today’s scenario is considered ACCA is better than CA in every perspective whether it is demand in Industry, scope, reputation, earnings, etc.
Editor’s recommendation: ACCA for CA 9 Papers Exemption for CA
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