What is ACCA course all about?
Association of Chartered Certified Accountants or in short ACCA, is a leading professional organization for individuals who are qualified as accountants. It’s a qualification which is widely recognized globally in several locations as a renowned knowledge oriented course.
The market of fresh graduates is very volatile. The need and skill gap is quite wide in the core finance industry with more and more people being inclined towards qualitative qualifications like Master of Business Administration. However, as any market reaches its saturation, so is the current market saturated with generalist MBA degree holders. The future is more demanding in terms of core skills and niche knowledge in specific sectors. An ACCA online training and qualification enables you to hone your skills and differentiate oneself in a saturated finance market.
It is essential to let employers know that you are an individual who has a holistic knowledge of business and strong in the financial aspect thanks to ACCA & CA coaching. Due to its lucrative offerings, this course is one of the fastest growing accounting careers across the globe and has over 500,000 + student network with growing numbers each day.
Confused between ACCA and CA?
We all invest loads in our education because after all “Investment in Learning” is the most rewarding investments of our lives. Our aim hence is to attain a good return of our initial investment in the form of a stable job which is enough to sustain us.
When we think of a successful career in India, CA is the first thought which hits our mind in the finance sector. For decades, there has been no other course similar to CA would give students the skills and knowledge in a different or better way in India. However, with Globalization opening doors of the economy to the outside world, there has been a surge in the demand of global knowledge and skills. Hence, the current market demand is not only to be locally qualified, but also be good enough to compete in the local market, which is going global, with necessary skills acquired in the due course of CA or ACCA training. Global awareness has increased and has introduced cross border qualifications like ACCA.
CA is certainly a highly envied degree in India; many contenders get discouraged and tired because of low passing and completion rates. It requires a lot of dedication, patience and competent coaching to clear all levels of CA with the ever increasing population and competition. CA is also known to have a limited recognition and acknowledgement in the global market. These are the major reasons why young students prefer Global ACCA degree over CA as an accounting qualification.
If you are still in a fix, read on to understand the fundamental differences between two sought after qualifications:
|Core concept behind the courses||Hones a very strong base of core accounting principles for tax and auditing profiles.||This provides in-depth knowledge of accounting principles, taxation and auditing along with Indian company law.|
|Professional supporting body-||It is regulated by Association of Chartered Certified Accountants (U.K).||This adheres to regulations of Institute of Chartered Accountants of India (ICAI)|
|Exams||Total 13 papers||Total 19 papers.|
|Duration||Approximately 2-3 years||Approximately 5-6 years|
|Levels||Knowledge, skills, Professional essentials, professional options.||Common Proficiency Test (CPT), integrated professional competence course (IPCC) and CA final.|
|Pattern of exam||Maximum exams are 2-3 hours based on subject.||Group wise subject allocation. Each is for 2-3 hours based on level.|
|Re-Exam Pattern||If you fail in a single paper, only that particular paper needs to be reattempted.||If you fail in a single subject, you are required to reappear for the entire group exam.|
|Fees||Training + Exam fees Rs.2 Lakh -Rs.3 Lakhs||Training + Exam fees below Rs.1 Lakh|
|Pass percentage||Approximately 30% – 40 %||Approximately 5% – 10 %|
|Accreditation||Globally accepted||Accepted only in India|
|Exemptions||You can be exempted up to a maximum of 9 papers.||No Exemptions|
|Salaries||If you are a fresher, you may expect Rs.5 LPA – Rs.6 LPA .You earn higher with learning and experience.||If you are a fresher, you may expect Rs.5 LPA – Rs.6 LPA .You earn higher with learning and experience.|
|Opportunities in India||It is considered as a globally respected degree for core accounting roles ,forensic accounting, valuation of business , tax and treasury management. Although, there is limited scope of ACCA professionals in tier-2 cities or remote locations in India, it is highly preferred by Multinational organizations.||It is a sought after and highly preferred degree in core accounting roles, taxation, financial analysis, company laws and business advisory or consulting. There is vast scope in national private organizations and the financial auditing space.|
|Professional Experience pre-requisite||A professional experience into any finance related job role is mandatory for 3 years, during or after your ACCA Course.||An Articleship of mandatory 3 years is taken as a part of your course. It needs to be completed while you pursue your degree.|
Considering ACCA after your CA?
With the current market, which is more of learning and applying, it is a challenge to stay ahead. However, you need not always bear an opportunity cost. If you are willing to put in the efforts and are determined to excel, you might be considering completing both your CA and ACCA certifications. You may consider ACCA online training to complete the degree post your CA coaching because you may enjoy a number of benefits like:
We have tried our best to educate you with the detailed differences and similarities between the two courses. Now you also know the prospects each of these degrees promise both nationally and globally. Hence we believe decision making might have become easier for you. Training for both these degrees are advantageous if you wish to exceed in the finance area and are highly in demand. However, a lot depends on your personal aspirations before you decide what you pick. We suggest you base your decisions on the following factors: