CA vs ACCA are both reputed courses opted by commerce students. What’s the best? ACCA or CA, which is easy? What’s the difference between the two courses? These are some of the issues that might be troublesome. But don’t worry, we’re here for all your questions.
Furthermore, To Become CA in India and for an ACCA degree, the student must be interested in playing with numbers.
However, in the article below, CA Wizard team have mentioned all the essential details of ACCA and CA and their meanings. Moreover, this article will help guide the best career option out of the two.
Let’s take a look at the basic details of both courses.
What is (CA) Chartered Accountancy?
CA or Chartered Accountancy is the course which is opted for by most commerce students. The CA course is administered by the Institute of Chartered Accountants of India. However, the Chartered Accountants are the only authorized person who can audit the organization’s Financial Statement.
Moreover, chartered accountants are experts in accounting, tax, law, and audit. They know all the aspects of finance.
In addition, the Chartered Accounting course includes three stages: CA Foundation, CA Intermediate, and CA Final. Also, to become a CA in India, the candidate must pass all three stages with an aggregate of 50%. However, it is also mandatory to complete 3 years of articleship training.
Qualities of CA
After knowing about what CA is. Let’s take a look at some of the key qualities of a CA:
- High moral Values
- Updated with amendments, laws and policies
There are various career opportunities for a CA. Let’s take a look at some of them:
- Internal Auditor
- Banking and Insurance
- Handling Accounts
- System Audit
- Handling the company’s legal matters
- Advisor in Direct and Indirect tax
- Handling Transfer pricing
- Auditing Financial Statement
The total time of the CA course after the 12th is 5 years, and after graduation is 4.5 years. However, every single attempt will increase the duration by 6 Months.
What is ACCA?
The ACCA full form for Association of Chartered Certified Accountants. ACCA is a world-renowned qualification accepted in more than 180 countries. However, ACCA set up the world’s largest accounting association in London in 1904.
ACCA is most widely recognized in Europe and UK. However, ACCA focuses primarily on financial accounting and the financial profession, giving their students additional knowledge of British laws, GAAP, IFRS.
Moreover, after pursuing ACCA, candidates can start their career in MNC or Indian firm handling overseas clients.
Qualities of ACCA
After knowing what ACCA is? Let’s review some of the qualities of ACCA:
- Honesty and Integrity
- Professional Image
- Tax Manager
- Internal Auditor
- Financial Manager
- Financial Consultant
The ACCA Course duration is 2 years. However, as the ACCA exams are conducted 4 times a year, every single attempt will increase the course duration by 3 Months.
Which is better ACCA or CA?
Now it’s time to figure out what’s best. What’s the difference between ACCA and CA?
|Degree||Only Recognized in India||Equivalent to International CA|
|Time Duration||5 Years||2 Years|
|Salary||CA Salary in India is 7-8 Lakhs||ACCA Salary is 8-9 Lakhs|
|Additional Certificate||No additional certificate||1. Bsc Hons. in applied accounting
2. Advanced Diploma in Accounting and Business
|Pass Percentage||The passing percentage of CA is 5%||The passing percentage of ACCA is 40%|
|Papers||Students must clear all three levels, which are divided in groups.||Students must clear 14 papers Individually.|
|No. of Attempts||Students can give 2 attempts in a year||Students can give 4 attempts in a year|
|Exam Structure||Three Levels:
CA Foundation – 4 Papers
CA Intermediate – 8 Papers
CA Final – 8 Papers
Fundamentals – 9 Papers
Professionals – 5 Papers
|Demand||The demand for CA is rising day by day||The demand for ACCA is low but expected to increase in the Future.|
|Total Fee||Less than 1 Lakh||Between 2-3 Lakh|
These were some primary differences; after reading this table, you will understand which is the best fit for you.
After reading the above article, you might have been clear about which is the best for you. However, we have come up with some points which might make it easier to choose between ACCA and CA.
- If a candidate wants to start a career in India, then it is suggested to choose CA; however, if you want to work outside India, then you should go for ACCA.
- Moreover, in the present scenario, CA has more advantages than ACCA.
- As a result, both the courses cover all the aspects of Financial studies.
Furthermore, between ACCA and CA, choose the best career option per your needs and abilities, and work hard to earn your degree.