Most of the students after 12th choose for
CA as their career option. But there are made declined for it saying about why we shouldn't do it or why we should go for it. But student should not think that this is the only option for accountancy students. One of the other option is ACCA. Let's check which one would be better option for you, i.e. CA or ACCA ?
Major differences
1. Professional Associations :
• Indian Institute of Chartered Accountants or ICAI is the professional association for CA course, which conducts exams for the same and provides you degree to practice.
• ASSOCIATION of Certified Accountants or ACA conducts exams and is regulator, degree provider of ACCA course.
2. Earnings :
• The average salary/pays of both professions is competing.
• But according to experience, an ACCA makes more money than a CA.
• A fresher can earn 7-8 lakhs per annum averagely in both of the professions.
3. Where can he/she work:
• A CA uses Indian Accounting Standards and can work only in India, and has exclusive rights over an ACCA in boundaries of India.
• On contrary, an ACCA is recognized worldwide. He/she can work in most lucrative MNCs or foreign countries. He/she can not practice in India.
4. Cost for the course:
• A student is needed around ₹ 60,000 - 80,000 for fees to ICAI while doing CA course. Additionally coaching charges are to be paid, which can be 2 -3 times than this fees. Although coaching is not compulsory for a student.
• While in ACCA, fees is very high around ₹2,20,000- 2,50,000. And coaching charges are also there.
5. Harder/Easier:
• While CA has passing chances of approximately 6-15%; ACCA has 25 - 45 %.
• CA is slightly harder than ACCA.
• ACCA is more inclined to candidate's personality, communication skills, decision making, and conceptual understanding.
6. Procedure - convenience :
• the procedure of conducting exams and articleship is relatively easier in ACCA than CA.
• In ACCA, the articleship is up to our convenience, we can do it after the course or in mediation. But it is not the case in CA.
• ACCA gives more flexibility to the candidate. As the candidate passes his/her skill level ( there are three stages of exams in ACCA , viz. Knowledge level, Skill level and Professional level ) , he can work for small firms and make reasonable money. Secondly, he can do graduation along with ACCA, and get a lucrative opportunity of getting high paid placements.
7. Duration:
• While CA takes 4-5 years; ACCA takes comparatively lesser time which is 2-3 years.
• So ACCA has time benefit.
8. Communication skills and English Fluency :
• An ACCA requires effective communication skills and English fluency.
• While a CA is needed sufficient of the above.
9. Focus:
• CA courses focus on Accounting, Auditing, Taxation, Finance, company law etc. results in expertise in multiple domains.
• ACCA courses mainly focus on accounting and finance.
Conclusion
1. Cost :
CA √
ACCA ×
2. Convenience :
CA ×
ACCA √
3. Earnings :
CA √
ACCA √
4. Acceptance in Indian firms or Companies :
CA √
ACCA ×
5. Chance of roaming around the world :
CA ×
ACCA √
6. Easier To pass :
CA ×
ACCA √
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