CA and ACCA are two of the very popular courses in the modern field of business. It is related to finance and accounting and has a common field.
However, choosing between the two is a very important decision to make. It is not about which course is popular. Rather, it is about which suits our career choices and qualifications well.
To succeed in the respective fields, one must have a clear idea of these two courses individually. Also, knowing their exact differences will help to sort out the path much better.
In this article, we shall study these two career options individually and chalk out their basic differences as well.
Key Takeaways
- CA (Chartered Accountant) is a country-specific accounting qualification, while ACCA (Association of Chartered Certified Accountants) is a globally recognized accounting designation.
- CA courses focus on taxation, auditing, and financial accounting, while ACCA covers a broader range of subjects, including management and business.
- CA qualifications require a longer study and experience, while ACCA can be completed more quickly and with more flexible study options.
CA vs ACCA
Chartered Accountancy (CA) is a country-specific qualification and focuses on local accounting practices and tax laws. The Association of Chartered Certified Accountants (ACCA) is an international-specific qualification, has no requirements and provides a global perspective on accounting and finance.
CA is the short form of Chartered Accountant. It is related to finance and offers a specialization in financial accounting. This course is particularly available in India.
Hence, the degree is certified by the Indian Institute of Chartered Accountants. To apply for this course, the minimum criteria required for eligibility is passing the Matriculation.
On the other hand, ACCA is the short form of the Association of Certified Chartered Accountants. It is accepted globally. Thus it has a long reach as well as a network over the world.
After the completion of the main course, it includes training for a few years. This course is mainly related to accounting and taxation. To apply for it, the minimum criteria required for a candidate is three years of experience with graduation.
Comparison Table
| Parameters of Difference | CA | ACCA |
|---|---|---|
| Abbreviation | CA is the short form of Chartered Accountant | ACCA is the short form of the Association of Certified Chartered Accountants. |
| Eligibility | A candidate needs to pass Matriculation. | A candidate needs three years of experience along with graduation. |
| Field | It is related to finance and financial accounting. | It is related to accounting as well as taxation. |
| Tenure | It is a course of five years. After the completion, one year of experience is required. | The main course is for three years. After the completion, two to three years of training is mandatory. |
| Position | The duty includes working with both private and governmental organizations. | The duty includes dealing with policies and implementing them and also rules and regulations. |
What is CA?
CA is a very challenging course to clear. Also, its tenure is very long. If one is dedicated to passing the examination on the first attempt, it will take five years.
In addition to that, one year of experience is mandatory after the completion of the main course. The qualification comprises three levels.
While opting for CA, it is necessary to do the articles under Chartered Accountant. It falls under one of their restriction. It is valid only in India but has a strong hand in the country.
CA might be a good option for those who prefer to stay in India. If proper efforts are put in, and the candidate is dedicated, this course has a really developed network.
Compared to ACCA, it is a lot more tough and competitive. The course structure and tenure are long. It does not have global recognization.
However, it is an uprising career in India. The course deals with finances. The studies are mainly based on the tax and laws of India.
As mentioned earlier, the exam comprises levels. They are fundamental and professional types, respectively. In the former, candidates are tested on their knowledge of fundamental skills.
It includes accounting and managing. In the latter one, candidates are required to pass three different examinations.
What is ACCA?
The best fact about ACCA is that it is recognized across the globe. It is valid in a large number of countries. Hence the reach is not limited. It is a very popular career option in the modern world.
Moreover, the course is very flexible, along with its structure. It has computer-based examinations and has a passing percentage of 50%.
Hence, it is quite scoring if one is able to put in real effort. Also, the exams are considered easy as compared to CA exams.
The standards of ACCA are mainly fixed with respect to the UK. It is an easy process to complete ACCA after CA. However, vice versa is almost impossible. ACCA is indeed a very reputed course over the world.
However, before choosing it for the future, we must consider our goals. It does not have good opportunities in India. Hence, if one is dedicated to moving abroad and putting in the effort, this might definitely be a great option for them.
Main Differences Between CA and ACCA
- The main difference between CA and ACCA is their area of scope. CA is only restricted to India, whereas ACCA is accepted globally.
- CA is the full form of Chartered Accountant, whereas ACCA is the full form of the Association of Certified Chartered Accountants.
- Next, coming to their field of interests. CA deals with finances, whereas ACCA deals with accounting respectively.
- Their eligibility is an important factor for the candidates to apply. A candidate needs to pass Matriculation to apply for CA. On the other hand, a candidate needs three years of experience along with graduation to apply for ACCA.
- In CA, the main course is of five years. After the completion, one year of experience is required. In the case of ACCA, the main course is for three years. After the completion, two to three years of training is mandatory.
- https://www.jstor.org/stable/4393795
- https://www.sciencedirect.com/science/article/pii/002197979090011C
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