Chartered accountancy is increasingly becoming one of the most popular professions in the world owing to the rapid advancements in global trade and commerce and increasing complexities in international taxation systems. The domain is generating hundreds of new career roles which are in need of qualified chartered accountants who aspire for a successful financial career.
There are plenty of career paths available for becoming a chartered accountant. Hundreds of reputed universities offer chartered accountancy courses that provide practical insights into the domain. There are international accountancy bodies like the Association of Chartered Certified Accountants or ACCA who provide accountancy qualifications. One major advantage of an ACCA qualification over a CA course is its worldwide applicability.
If you are interested in a financial career and are confused about choosing between an ACCA qualification and a CA course, this blog is for you. It illustrates the important advantages provided by an ACCA qualification over a chartered accountancy degree.
How is ACCA better than a CA programme?
While both the ACCA and a CA qualification can provide you with the skills needed for a successful accountancy career, pursuing ACCA can have distinctive advantages as compared to a chartered accountancy qualification. Here are the significant advantages ACCA has over a CA course.
- ACCA is globally recognised: ACCA is an illustrious global organisation comprising of more than 2 million members and students spread across 170 countries. An ACCA qualification is internationally recognised by thousands of employers and can help you establish a career in any country of your choice. On the other hand, CA qualifications are restricted to the origin country and might pose as a problem if you wish to have a global career.
- You get familiar with international financial and taxation laws: An ACCA qualification helps you get acquainted with the financial and taxation laws of the UK, US and many other countries. You also get a much wider exposure in terms of subjects in the ACCA syllabus. However, CA qualifications tend to focus more on the financial rules and regulations of the origin country and might be restrictive in their syllabi.
- An ACCA qualification takes less time: You can achieve an ACCA qualification in relatively less time as compared to CA. This is because, out of the total 18 papers, you can attempt 8 in a single year. On the other hand, it may take years to pass CA exams and become a certified chartered accountant.
- ACCA has a better pass percentage: Even if you are not well-versed with some accountancy subjects, you can easily clear ACCA exams as it has a much higher pass percentage than CA. The average pass percentage of ACCA is around 40-50% whereas the pass percentage of CA is around 4-5%.
Choosing an ACCA course over CA is the best career choice for people interested in pursuing accountancy abroad. Although easier than pursuing CA, gaining an ACCA qualification can be difficult without external resources like online materials or a preparatory course. You should enrol in a preparatory course today to successfully pass ACCA exams and establish a career in accountancy.