ACCA vs CA Which is better?

0
282

What is ACCA:

ACCA stands for the Association of Chartered Certified Accountants, was set up in London in 1904 to promote excellence in accountancy and finance.

The ACCA Qualification improves accounting knowledge and skills as well as professional standards. You can build a successful career as a finance professional in any sector or you can open you Chartered Firm after successfully qualified ACCA.

ACCA exams are held twice per year, June and December, and can be sat all around the world.

When a person passed ACCA examinations and having gathered enough of practical experience (Article ship usually for 3.5 years) and gained Professional Ethics module, a candidate may (but does not have to) apply for a membership in the Association.

You may also like to Read:

ACCA Exam:

The ACCA exams are divided into two levels: Fundamentals and Professional.

The Fundamentals level is divided into two modules Knowledge and Skills.

FUNDAMENTALS (NINE PAPERS IN TOTAL)

Knowledge   

F1        Accountant in Business
F2        Management Accounting
F3        Financial Accounting

Skills  

F4        Corporate and Business Law
F5        Performance Management
F6        Taxation
F7        Financial Reporting
F8        Audit and Assurance
F9        Financial Management

The Professional level is divided into two modules: Essentials and Options. All students have to pass the three papers in the Essentials module and two from four available in the Options module.

PROFESSIONAL (FIVE PAPERS IN TOTAL)

Essentials     

P1        Governance, Risk and Ethics
P2        Corporate Reporting
P3        Business Analysis

Options (two to be completed)

P4        Advanced Financial Management
P5        Advanced Performance Management
P6        Advanced Taxation
P7        Advanced Audit and Assurance

What is CA:

Chartered Accountancy is a rewarding career and there are excellent prospects for employment in audit firms as well as in local companies, multi-nationals, and local and foreign banks. The profession has stood the test of time, and career opportunities for Chartered Accountants are relating as corporations increasingly realize the importance of professional values, ethics and good governance.

To become a Chartered Accountant:

Chartered Accountant you need to be motivated, possess analytical skills, numerical ability, a keen sense of what is going on in the world of business and finance, and personal qualities such as reliability and decision making. You will be required to study business and corporate finance, economics, auditing, taxation, management and information systems. 

CA Exam:

FOUNDATION

Module A

Paper A1 Functional English
Paper A 2 Quantitative Methods

Module B

Paper B 3 Introduction to Economics and Finance
Paper B 4 Introduction to Financial Accounting
Paper B 5 Mercantile Law

INTERMEDIATE

Module C

Paper C 6 Financial Accounting
Paper C 7 Taxation
Paper C 8 Business Communication and Behavioral Studies

Module D

Paper D 9 Company Law
Paper D 10 Cost Accounting
Paper D 11 Auditing
Paper D 12 Information Technology

FINAL

Module E

Paper E 13 Information Technology Management, Audit and Control
Paper E 14 Advanced Accounting & Financial Reporting
Paper E 15 Corporate Laws
Paper E 16 Business Management

Module F

Paper F 17 Management Accounting
Paper F 18 Business Finance Decision
Paper F 19 Advanced Taxation
Paper F 20 Advanced Auditing

ACCA vs CA

The following key points are discuss below 

Basis of DifferenceACCACA
Entry Requirements2nd year Fsc/I.com/D.com after Matric O’level2nd year Fsc/I.com/D.com after Matric O’level
TimeACCA exams can be completed in just two years, along with three years of article ship experience.Normally, it takes between three to four years to qualify as CA,
ExpensiveACCA is more Expensive you have to pay fee in pounds.CA is Cheaper than ACCA, you have to pay fee in your local currency.
Fee£80 per paper examination fee, excluding your university/college/institute fee.PKR 8000 per paper fee, excluding your university/college/institute fee.
ExemptionIf you have M.com/MBA finance and some other degree you may apply for exemption of first 2 to 3 paper.If you have M.com/MBA finance and some other degree you may apply for exemption of first 2 papers.
DegreeYou will get UK degree,You will get local chartered accountant institution degree. Eg. ICAP from Pakistan, ICAI from India and many more.
Recognition

 

ACCA UK MemberICAP, Pakistan,  ICAI India, Member
Toughness ACCA is by no means easy to pass. Students will definitely have to switch from the rote learning methods to one based on understanding. CA being regarded as one of the toughest qualification to pass has its own value and standing.
ArticleshipACCA qualifications require 3 years practical experience in any CA firm.CA  qualifications also require 3 years practical experience in any CA firm.
Earning/Income Depends on the personDepends on the person

Conclusion :

Many people want me to advise which qualification is better, if there was one such answer, only one would have existed. So you have to make that decision based on what you want to do in your life and where you want to be in your future and not depend on anyone else to suggest the best plan.