ACCA vs. CA: Which is better?

If you’re growing up in an Indian household, then one of the careers that parents want you to pursue is finance. And why not? It’s a lucrative industry with a lot of growth prospects. When you think about what financial courses after 12th to look into, one of the options that is always at the top of everyone’s mind is CA and more recently, the ACCA course that has gained prominence. Both CA as well as ACCA can also be pursued as courses after graduation.

 

If we were to compare CA vs. ACCA, then both have qualities that make them the most lucrative course to be perused. Let’s look at them in detail:

 

What is ACCA?

 

ACCA (Association of Chartered Certified Accountants), UK, is an international body of professional accountants and is acknowledged as the globe’s biggest and most influential accountants association, extending to more than 170 countries and training over 3,70,000 students across the world. The portability of the ACCA qualification is what makes it lucrative during the global economic era.

 

What is CA?

 

When it comes to perusing professional courses after BCOM or after the 12th, CA is one of the most lucrative ones. Indian households are proud to have a CA in their family. A CA is a professional who controls and deals with the accounts and finances of people as well as organizations. CAs would have to get into auditing, investments, budgeting as well as financial planning, banking and risk management.

 

ACCA Course

 

Planning on settling down overseas? Then an ACCA certification would be ideal. As far as course details are concerned, the curriculum comprises three ACCA levels: fundamental knowledge, basic skills and professional requirements. The ACCA course duration lasts 2 years. It has two exam sessions annually and students can sit for a maximum of 4 papers in a session. An individual can finish all the exams in 2 years and be qualified to receive ACCA certification.

 

A student has to compulsorily sit for the 14 papers to become a qualified member. But if one has specific qualifications in accounting from earlier, then they can request to be exempted from appearing for certain papers. The exemption can be claimed only if they have obtained the qualification recently. If they have worked in a different sector other than accountancy or got the qualification several years ago, then the student will not be granted any exemptions.

 

CA Course

 

Individuals are eligible to pursue CA after their 12th grade. They can also opt for the qualification after graduation or after they complete their post-graduation. The course is split into three main levels, namely: CPT (Common Proficiency Test), IPCC (Integrated Professional Competence Course) and CA Final Course. The minimum duration for a person joining CA course after their 12th grade (i.e. Via CPT) is 4.5 years but if you join after graduation, you can acquire certification in 3 years.

 

Both CA and ACCA are lucrative options for a career. If you wish to strongly pursue a job in finance then there are other interesting options such as banking courses after graduation that can you can enroll into.