ACCA vs CA: Which is the right Course for you?

ACCA vs CA: Which is the right Course for you?

ACCA and CA are two different ways of pursuing accounting and finance as careers, each with its pros and cons. While both courses attract a large number of students, the most frequently asked questions when deciding on qualification are: 'Which is better CA or ACCA?' What sets ACCA apart from CA? Which is superior: ACCA or CA? To determine which course is better in this war between CA vs ACCA, let’s first understand what ACCA and CA are.

ACCA is a qualification that is globally acknowledged for individuals who want to develop accounting, financial, and management skills on an international level. In India, a CA or Chartered Accountant stands as the golden standard of professional excellence in the field of finance, accounting, and auditing. The title of a CA is conferred on candidates who have undergone rigorous training, education, and examination processes conducted by the Institute of Chartered Accountants of India (ICAI) which is the regulatory body overseeing the exams and training related to the accountancy profession in India. The importance of the Chartered Accountancy qualification in the Indian finance sector cannot be overstated.

What is the difference between ACCA and CA?

If becoming a Chartered Accountant is what you’ve been aiming for, with these two courses you can fulfill your dream, as they both allow you to practice Chartered Accountancy in India and overseas. Additionally, these two courses hold immense prestige in the world of accountancy. Professionals with this degree are welcomed into the corporate world with interesting job opportunities and impressive salary packages. However, to know more about the differences between these two accounting courses, here’s a detailed differentiation of ACCA vs CA.

Aspect	ACCA	CA (ICAI)
Recognition	Globally recognized	Recognized within India
Scope	International career opportunities	Primarily focused on the Indian market
Curriculum	Broad, covering global standards	In-depth knowledge of Indian laws, taxes, and regulations
Examination	Multiple exams, flexible scheduling	Rigorous examination process with a fixed schedule
Duration	Variable, typically 2-4 years	Typically 3-5 years
Fees	Varies depending on location and institution	Typically lower compared to ACCA
Career Paths	Diverse opportunities globally	Focused on roles within India
Specializations	Offers various specializations	Specializations within Indian laws, taxes, and regulations
Professional Body	Association of Chartered Certified Accountants	Institute of Chartered Accountants of India

ACCA vs CA: Salary after Qualification

While ACCA has a wider global reach as compared to CA, the salary one can achieve as an ACCA has more growth. CA, on the other hand, has a great demand in India. Here is a glimpse into the average CA and ACCA salary in India.

 

ACCA salary in India:

ACCA Jobs	Average Salary
Accountant	INR 3-4 LPA
Chartered Accountant	INR 9-10 LPA
Auditor	INR 3-5 LPA
Financial Accountant	INR 3-7 LPA
Finance Officer	INR 3-5 LPA
Financial Analyst	INR 4-5 LPA
Account Executive	INR 3.5-6 LPA
Account Manager	INR 5.5-8 LPA
Chief Financial Officer	INR 3.5-4 LPA
Business Analyst	INR 3.5-8.5 LPA

 

CA Salary in India:

Jobs profile	CA Salary per annum (Avg)
Finance officer	35 lakh
Account executive	25 lakh
Accountant	25 lakh
Finance controller	24 lakh
Finance manager	13 lakhs
Chartered accountant	12 lakh
Financial analyst	12 lakh
Assistant account manager	10.5 lakh
Senior account executive	6 lakh
Senior Accountant*	5.3 lakh
Business analyst	4 lakh
Account Assistant	4.2 lakh

ACCA vs CA: Tough or Easy?

ACCA or CA which is tough? If You consider the number of papers and the time taken to prepare for the exam CA seems like a tough option but that doesn’t mean that ACCA is easy and can be done easily. Just based on passing percentage ACCA has a better passing rate than CA. The main difference between CA and ACCA is that ACCA is recognized in 180 Countries, which gives you a wider and better career prospect and helps you get global job opportunities.

It is no surprise that the CA course is commonly considered to be harder than ACCA, considering the number of years, the number of papers, course levels, and the versatility of both courses. But, this is a completely subjective topic, and the results can differ from case to case.

The flexibility in terms of tests and papers is one of the reasons why ACCA is slightly easier to handle than CA. Subjects are grouped in CA. So, you will have to rewrite all the subjects in that group again if you fail a subject in that group. On the other hand, in ACCA, you will only have to retake the specific subject if you fail an exam and attempt it at your convenience.

Which course is better for your career - ACCA or CA?

Both the courses have their characteristics that make them one of the most sought-after professional courses in the arena of finance & accounting. However, they differ in opportunities in terms of careers in India or abroad. CA is well-suited for India as it makes you well-versed in India's accounting system. However, ACCA is globally recognized and hence it is for someone willing to settle abroad.

CA v/s ACCA - Which course has more advantages?

1. For ACCA, you can pursue practical work experience known as the Practical Experience Requirement (PER) while simultaneously appearing for exams, which facilitates completing the course in 3-4 years. Conversely, in the case of CA, you can pursue the Practical Experience Requirement only after completing both groups of IPCC (Integrated Professional Competence Course).
2. The average starting salary for CA is Rs.8 Lakhs per annum. and for ACCA it is approximately Rs.5.6 Lakhs per annum.
3. The ACCA course takes a shorter span to complete CA.
4. ACCA is a globally certified degree whereas CA holds an Indian monopoly as it specializes in the Indian Tax & Accounting system.

Both CA and ACCA are esteemed qualifications with distinct focuses and benefits. While CA is a perfect fit for those interested in accounting and auditing in India, ACCA is meant for finance enthusiasts with a global perspective. Remember, whichever course you choose between ACCA vs. CA, it should align with your career goals, aspirations, and interest areas for long-term professional success.

 

 

Read More:

• What is ACCA?
• What is CFA?
• How to Become an Auditor?
• How to Become an Investment Banker after CA?
• What is Capital Budgeting and its Process?
• What is Financial Modelling?

Frequently Asked Questions (FAQs)

• Is ACCA harder than CA?

On a general note, CA is considered to be more difficult than ACCA due to the number of years, number of papers, course levels, and flexibility in the curricula. Passing ACCA exams has been made easier by Finplan ACCA institute with over 1000+ students clearing their exams with distinction.

• Is ACCA more popular than CA?

However, we cannot compare them with chartered accountants whose demand is higher compared to that of ACCA. More so, while the passing percentage for ACCA stands at 40-50%, this ratio falls as low as 4-5% for CA making the latter more sought-after as far as chartered accountants are concerned.

• Does the curriculum for ACCA vary a lot from that of CA?

Both training courses include subjects such as financial accounting, management accounting, audit and assurance, taxation, financial management, and business law among others. However, these subjects have different depths and complexities between ACCA and CA.

• Who earns a better salary – CA or ACCA?

The average salary of a CA ranges from 8-9 lakhs per annum. The average salary of an acca student is 6-7 lakhs per annum. Indian Companies prefer a person who completed ICWA / CA / ACS / MBAs because they are aware of Indian Laws and its terms and conditions.MNCs that are handling work related to overseas clients/outside India prefer a person who completed his/her degree from abroad under a global professional body like ACCA (UK).