Many young professionals in India face the impediment of choosing between CA and ACCA when they embark on their journey of becoming a chartered accountant. This is because of the dire fact that the level of difference between the two is quite less and almost overlapping and that’s what makes taking one of the two choices a big hurdle to cross.
So, to help you grasp the varying shades of both CA and ACCA, we must first understand what CA and ACCA really are.
- CA degree in India is given by The Institute of Chartered Accountants of India. CA works with the Government as well as private
- ACCA stands for the Association of Chartered Certified Accountants. The Candidates primarily deal with the rules and regulations and implementations of policies within a company and compile with the Finance, Auditing and Taxation part.
|ELIGIBILITY||CLASS 12||CLASS 10/12|
|COURSE DURATION||4.5 to 5 years||1.5 to 3 years|
|COURSE FORMAT||3 Levels
● KNOWLEDGE LEVEL
● SKILLS LEVEL
● PROFESSIONAL LEVEL
|EXEMPTION||Graduates get direct entry to Intermediate level (exemption for foundation)||Graduates get direct entry to Skills level (exemption for knowledge level)|
|FIELD OF WORK||Primary inspection in govt. and private sectors||Works across various finance positions, taxation and accounting|
- CA is mainly India based course hence students get a study base of Indian Laws and Standards.
- ACCA has a global coverage and therefore it is based on UK tax laws and standards.
- In CA a student has to attempt at least a group at a time.
- ACCA is considered flexible as here students can attempt a single paper in each attempt.
- Indian Companies prefer CA’s as they are aware of Indian Laws and related terms.
- Multinational companies who are handling the work of overseas clients or companies outside India prefer ACCA.
ACCA vs CA, which is Tough?
ACCA and CA have an almost identical course layout with almost the same number of subjects, but the basic and the main difference between the two is the passing percentage.
As per May 2020 data, the passing percentage in CA is around 17.84% whereas in ACCA this passing percentage is as high as 40-50%.
As you can see above, ACCA has a much better passing percentage than CA.
- It is just because of this humongous difference in the passing percentage that ACCA is considered to be a bit easy as compared to CA.
- Also, there is no grouping of subjects in ACCA as there is in CA. So unlike CA, if you do not pass a subject in ACCA, you have to rewrite only that particular subject and not every subject in that particular group.
- Also, in ACCA you can attempt exams as per your convenience. So you can give 1, 2, 3 or even 4 exams at a time.
- If you are an ACCA aspirant, you can also complete your articleship anytime (before, during or after the course).
- All these small details and refinements in the ACCA course make it slightly easier to tackle than the CA exams.
After reading this article, you have been cleared if you want to grow in India or set up your own practice, then you should go with Chartered Accountancy but if you plan to set up outside India, then ACCA will be a better option. But as far as today’s scenario is considered ACCA is better than CA in every perspective whether it is demand in Industry, scope, reputation, earnings etc.