In the contemporary world, accounting has been one of the most preferred professions, especially in the financial sector. Due to its excellent career prospects and chances of career progression, the global demand for accountancy programmes keeps growing. There are several professional certifications and courses provided by universities across the globe, such as ACCA and CA that cater to different purposes and academic backgrounds.
While there are many similarities between the two, they are still different from one another. So, to choose the right one for yourself, you first need to understand your academic interest, aptitude, and passion. Both courses have a complex curriculum structure and training period for which you need to inculcate in yourself a lot of patience. Before you opt for one between the two, let’s look at the courses in detail.
What is CA?
A Chartered Accountant or CA is a professional accountant who is responsible for filing tax returns, auditing financial statements, and providing advisory services to the client. Chartered Accountants are hired by an individual or a company. In simpler terms, they help with all financial requirements for a company. Their job is to assist and advice shareholders and investors on their financial needs.
Notably, regular CA qualification holders can practice accounting in their home country only. In most countries, there are different sets of rules and regulations to complete the CA qualification.
What is ACCA?
The full form of ACCA is the Association of Certified Chartered Accountants. ACCA is a global accounting body whose certification is widely renowned. The prime focus of an ACCA programme is taxation, auditing, account handling, and management accounting.
Additionally, ACCA is not restricted to aspirants holding a finance background, as students with a non-finance background can also take this examination.
ACCA vs. CA
ACCA is an international organization and has members across the world. Pursing ACCA can open doors for employability in several countries, while CA holders can enhance their career in a limited number of areas.
A student should be 18 or above and have qualified intermediate with an aggregate 65 percent in Mathematics or Accounts/English and scored a minimum of 50 percent in other subjects to appear for ACCA. The ACCA examinations are organized worldwide twice a year, i.e., in June and December. The prime focus of ACCA course Singapore to confidently pass your ACCA examinations with the help of highly experienced tutors and exam-based study materials.
On the other hand, candidates who have completed intermediate with math or graduation degree in Commerce stream are eligible to appear for CA examinations.
You must qualify only two-course levels to crack ACCA – Fundamentals and Professionals, while in CA, you must qualify for three-course levels – CA Foundation (CPT), CA Intermediate (IPCC), and CA Final (FC).
ACCA is more flexible than the CA course as students are allowed to attempt a single paper each time they appear, whereas students with CA are required to attempt a minimum of one set of papers at a time.
Apart from these, there are manifold reasons which make ACCA more popular than CA. Before you opt for any of these courses, you must decide which one is suitable for your personality.