ACCA vs CA, which one is better?? After the 12th grade, both the ACCA and CA programmes are well-liked and have excellent career prospects and pay. Whom should I pick, though?
The seven key distinctions between the ACCA and CA programmes will be discussed in this post to assist you in choosing which is best for you. Here, we’ll contrast the two programmes in terms of pay, curriculum, industry of employment, degree of difficulty, costs, tenure, and other factors. With years of expertise and understanding in the field of accounting, the Global Vsmart team wrote and reviewed the essay. As a result, the professionals will provide you with all the pertinent facts. Let’s begin right away.
Difference Between ACCA vs CA
Key Takeaway of ACCA vs CA:-
In the discipline of accounts and finance, the CA is a national-level degree, whereas the ACCA is a global-level degree. An ACCA handles tax work for the UK, Hong Kong, and other countries, while a CA handles tax work for India. Both courses’ accounting and finance syllabi are remarkably similar.
Major differences between ACCA and CA are:
- Salary – In India, the typical CA salary is between 8 and 9 lakhs per year. However, the average annual income for an ACCA is 6-7 lakhs.
- Course – Three exams—the Foundation, Inter, and Final—are offered for the CA course. The Inter and Final Exam consists of 8 papers, while the Foundation Course has 4 papers. The Fundamentals (9 tests) and Professionals (5 papers) exams are the only ones offered by ACCA.
- Audited Balance Sheet – The audited balance sheet may be signed by a Chartered Accountant but not by an ACCA.
- Fees – The overall cost of the CA course is about 2-3 lakhs per year, whereas the total cost of the ACCA programme is between 3 and 4 lakhs.
- Scope – Both programmes are well-suited for both India and the rest of the world.
Overview of the CA Course
Chartered Accountants unquestionably have a respected and accountable position in society. They are the only qualified specialists allowed to audit an organisation’s financial statements in India. The Institute of Chartered Accountants of India (ICAI), which organised the CA programme, guarantees them a rewarding future and limitless job options.
A person must have exceptional analytical abilities to become a chartered accountant because the job requires working with numbers. The CA Course takes about 5 years to complete. The entire cost of the CA Course during these five years will be close to Rs. 87,000. The course has also been created to approach Indian laws and norms because, as far as we are aware, Chartered Accountancy is only recognised in India.
For several local, national, transnational, and worldwide businesses, Chartered Accountancy opens the door. The recent implementation of new regulations in our nation has significantly raised the need for Chartered Accountants, and it is anticipated that over the next five to ten years, newly qualified CAs will have innumerable golden possibilities. In India, a newly hired CA can expect to earn between 8 and 9 lakhs annually. And it will expand as you gain expertise, knowledge, and experience in a given field.
Contrary to doctors, engineers, lawyers, and other professionals, the ICAI has the full authority to revoke a CA’s degree if they are discovered to have violated its ethics and principles.
Overview of the ACCA Course
The Association of Chartered Certified Accountants, which was founded in London and primarily focuses on Accounting and Finance, is the full name of the organisation. 180 countries around the world, primarily in the UK and other European nations, have recognised this course. As a result, after earning your ACCA in these nations, you can join a Chartered Firm or successfully launch a career as a finance professional. However, CA is your only choice if you want to perform audit and attestation services in India.
The UK GAAP, laws, and IFRS are covered by ACCA as part of its mission to advance excellence in accounting and finance globally. This knowledge opens openings for many national and international businesses that serve clients from other countries.
CA Scope in India
CAs can also find employment as financial reporters, strategists, and advisors. In addition, several ministries require CAs. Additionally, as government banks need specialists, a CA can operate as a specialised officer in public sector banks and regional rural banks.
It is common knowledge that before beginning any career, a person must consider their potential and prospects. Chartered Accountancy is a popular career choice for students because it is one of the most prestigious professions, both in India and internationally.
Which is Tougher Between ACCA and CA?
When you take into account the passing rate, curriculum, subjects, and adaptability, the CA course is harder than the ACCA course. The CA Course is the hardest in the nation due to its extremely low passing percentage. As a result, passing the tests requires numerous attempts from the students. Additionally, this lengthens the CA course’s duration.
This does not, however, make it any simpler to pass the ACCA course. To pass the tests, students must dedicate themselves fully to their studies. The ACCA course is simpler since you will receive an exemption based on your academic background. Additionally, if you don’t pass a subject, you can try again on that particular subject. As opposed to the CA Course, where you must retake all of the subject-specific tests.
Additionally, the top CA Firms in India will give you preference if you complete ACCA with CA, increasing your chances of being chosen.
Conclusion:
The ACCA and CA courses are so different from one another in several ways. Students should enrol in the CA programme if they want to work in India. However, we can suggest that students complete the ACCA course if they want to work abroad.
Additionally, students can enrol in both CA and ACCA courses. Here, becoming a CA first will be the wiser course of action. After passing the CA, you will only need to submit 5 essays as opposed to 14 essays.