Unlike the old times, the career options for accounting, auditing, taxation are not limited to just a few courses. The horizon has broadened and opened a lot of avenues today. For example CPA,CFA , ACCA .
What is CA?
Chartered Accountancy (CA) has been one of the most sought after courses and a popular choice of profession in India.One of the reasons why people respect Chartered Accountants is not because of the designation or pay, it is mainly because it is not easy to become one. The course is governed by the Institute of Chartered Accountants of India, a body set up by the Act of Parliament.
What is ACCA?
ACCA stands for the Association of Certified Chartered Accountants established in 1904 in the UK which is certified by Association of Chartered Certified Accountants. ACCA is a globally accepted degree.
Let us see the differences between CA and ACCA
|
Point of Difference |
CA |
ACCA |
|
Governed by Institute of Chartered Accountants of India. |
Governed by Association of Chartered Certified Accountants. |
|
The main scope is auditing, taxation accounting but not restricted to only public and private entities also includes the Government sectors. |
The main scope is directed towards taxation and accounting restricted to private and public sector. |
|
The tenure depends on the capability of the candidate with compulsory 3 year internship (Article ship) |
3 Years of study and 2-3 years of training period. |
|
Recognised only in India. ICAI has also signed MOUs with countries like UAE, UK, Australia to name a few. |
Globally recognised |
|
Not Expensive |
Expensive |
|
To be eligible to register for a CA course candidates should have qualified a minimum of 10+2 examinations. |
To be eligible to register under ACCA candidates should have qualified 10+2 examinations with an aggregate of 65% in mathematics or accountancy with a minimum of 50% in other subjects. |
|
No work experience required to enroll. |
The Minimum requirement of enrolling the course is three years of work experience with graduation of 4 years. |
|
Only CA can Attest the Financials |
An ACCA cannot Attest the Financials in India. |
|
Examination comprises of three levels :
|
Examination comprises of two levels :
|
|
20 papers |
13 papers |
Advantage of CA over ACCA
- An ACCA cannot practice in India unlike a CA. ACCA is limited only for employment.
- AN ACCA cannot attest the Financials.
- In India the recognition of ACCA is limited.
Advantage of ACCA over CA
- ACCA is globally recognised.
- The course is less tougher than CA.
Is there any exemption for a CA candidate in ACCA?
- A qualified CA is exempted from 9 papers out of 13 papers from ACCA.
- An Inter qualified CA candidate is exempted from 6 papers out of 13 papers.
Conclusion
Both CA and ACCA are very in-depth and dynamic courses that include almost everything required by finance professionals. The scope of these professionals are in demand both in India and overseas.
Also Read:
CAclubindia
