There are many different pathways that you can take to become a qualified accountant. The most popular options are the CA (Chartered Accountant) and ACCA (Association of Chartered Certified Accountants) qualifications. Both of these qualifications are well-known and highly respected and will open up many job opportunities for you. There is much debate surrounding which of these two professional accreditations is better. So, which is the better accreditation? CA or ACCA?
To help you decide, we’ve compared the CA and ACCA qualifications. We’ll be looking at the key differences between the two and the similarities to make an informed decision about which one is right for you.
What is the Eligibility Of CA vs ACCA?
Eligibility of ACCA
To become a Chartered Accountant in India, you must meet the following eligibility criteria:
Minimum 65% in Mathematics, English and Accountancy.
Minimum 50% in all other subjects
Eligibility of CA
Minimum aggregation of 50% in Class 12 subjects
How Many Papers are there in CA vs ACCA?
Number of Papers in ACCA
To become a fully qualified ACCA member, you must pass all 13 papers and the Professional Ethics module. You will gain exemptions for up to 9 papers based on your qualification.
The ACCA examination courses are categorised into three parts – The Fundamental level, The Professional level and an Ethical and Professional Skill Module.
Each level has a different focus, and you must complete all the levels to qualify as a chartered accountant.
Number of Papers in CA
There are 3 levels of exams in CA foundation, intermediate, and final. Each level of the exam consists of 4 to 8 papers. Students should attend the exams in a group system.
Candidate should crack each level in a single attempt, failing which the whole group should be attempted again.
Salary of ACCA vs CA
Salary of an ACCA
The average salary for an ACCA-qualified accountant is $130,000 annually. This salary can vary depending on location, experience, and industry.
For example, accountants in the United States earn more than those in other countries.
Those with more experience tend to make more as well. ACCA also offers many other benefits, such as lifelong learning opportunities and a global network of members.
Salary of CA
The average salary for an ACCA-qualified accountant in India is around 7-8 lakhs per annum. However, salaries can vary depending on experience, skillset, company size, etc. ACCA-qualified accountants with more experience and expertise can earn salaries upwards of 20 lakhs per annum.
Signing Authority of CA vs ACCA
Chartered accountants (CAs) have signing authority in India, with the Institute of Chartered Accountants of India (ICAI) having the sole signing authority.
ACCAs have signing authority in many countries, such as the United Kingdom, UAE, Switzerland, Australia, etc. But ACCA has no signing authority in India.
How many Exemptions are there for ACCA vs CA
Exemptions in ACCA
ACCA offers a range of exemptions for students who have completed relevant prior learning? If you have studied at the degree level or have relevant work experience, you may be eligible for exemptions of up to 9 papers.
Students who hold UG/PG Degree in Commerce with 55% or who hold UG/PG in any other field with 60% can bypass CA Foundation and go straight into CA Intermediate.
Exemptions in CA
ICAI will offer an exemption from the foundation level for students who fall under criteria
1. CMA – Inter-qualified students
2. Commerce graduates UG/PG with 55%
3. Any other graduates UG/PG with 60%
How Difficult are ACCA and CA?
The pass rate of ACCA is comparatively higher than that of CA.
On average, 50% of the ACCA candidates passed the exams. At the same time, only 15% of the candidates cracked the CA exams.
Articleship/Internship of CA vs ACCA
After a CA student passes the IPCC Group 1 exam; they must complete a 3-year articleship period before appearing for their Final CA exam. The articleship typically consists of working in a CA firm.
ACCA students have the opportunity to start their 3-year work experience before, during, or after their exams. The start and end dates are at the discretion of the students. ACCA students are not required to work in a CA firm.
What is the Fee Structure of ACCA vs CA
The cost of CA would be ₹ 50,000 throughout the course.
The cost of ACCA would be ₹1.75 – 2.00 lacs depending on the fluctuation in GBP rate and exemptions; this cost may vary.
ACCA after CA qualification
Students who have already completed or are completing their CA (Chartered Accountancy) can save time by completing their ACCA (Association of Certified Chartered Accountants). ACCA offers a range of Exemptions for CA-qualified students. This would make it extremely easy for students to complete both programs simultaneously!
ACCA is a globally recognised professional qualification in accountancy. The scope for ACCA-qualified accountants is vast, with high salaries and excellent prospects for career progression. If you are interested in a career in accountancy, ACCA is the perfect option. Feel free to be in touch with us for more information.