Being one of the most respected professions in India, Chartered Accountancy is like a dream for many students. While many of them appear for exams, only a few are able to crack it. The passing percentage of CA final can be as low as 3 percent. That means only a small number of students are able to pass out of the thousands who appear for the exam.
If you are also one of those many students who were not able to pass it and now worried about your career, then you are in the right place.
There are a lot of students who even after completing their Articleship and 2nd level exam get stuck at the CA Finals. Some of them take multiple attempts and still cannot qualify since it is one of the most lengthy & difficult papers. If you also feel like you have wasted a good amount of time while preparing for CA Finals and think that you cannot fulfill your dream, then you are wrong.
What if I tell you that you can still become a Chartered Accountant without having to qualify ICAI's CA exams? The Association Of Chartered Certified Accountants (ACCA) is a UK based accounting body that was established in 1994. ACCA is the global qualification for Chartered Accountancy that is valued on par with the local qualification. Qualifying ACCA makes you a global CA. That means you will be able to work on different aspects of Business, Finance, and Management in 181 countries like UK, India, Singapore, UAE and many more.
But if you are still wondering why you should choose ACCA over CA, these are few of the major advantages of ACCA:
- NO AGGREGATION, NO GROUPING: The largest advantage according to me is the absence of the group system in ACCA. CA involves giving exams in groups, which means a minimum of 4 papers (except in IPCC Group 2). The toughest aspect of this system is that in case if you fail to pass even one paper, all four must be given again. Unless you have earned an exemption in one of those papers. While in ACCA, the examinations can be attempted as per your convenience. That means a student can attempt one or more papers at a time. And even if he fails to clear any single paper, the rest would still be considered.
- UPTO 9 EXEMPTIONS: Also, as a CA student, you can avail upto 9 exemptions out of total 13 papers in ACCA.On the basis of cleared IPCC level, you can get 5 exemptions out of Total 13 papers in ACCA. Additionally, if you are a B.Com(H) graduate and who got 40+ marks in CA Final level papers of SFM, Costing and FM, you can claim 4 additional paid exemptions.
- HIGH PASS %-Moreover, there is a higher passing percentage, averaging approximately 60% globally for the ACCA exams as opposed to the very poor pass rate in CA !
- CA ARTICLESHIP RECOGNISED- ACCA requires students to acquire 36 months of PracticalExperience Requirement (PER). However, this can be completed anytime during, before, or after ACCA exams. The good news is that CA Articleship is recognized as PER for ACCA.
- FLEXIBILITY-Student can appear for a single paper in an attempt and exams happen every Quarter.So, if you are an IPCC qualified with B.Com and 40+ marks in Costing,SFM,FR; appear for the remaining 4 papers 2 at a time and become a QUALIFIED ACCA IN 6 MONTHS TIME !!!
Now, that is certainly worth your effort and time making you at par with a Qualified CA or even better because now you are a GLOBAL CA !!!
For more information on ACCA, please feel free to reach out to the ACCA Team at VG Learning Destination at 9599983117/115/113 or email acca@vglearningdestination or click on link