The dilemma of choosing between ACCA or CA is something that is faced by many students. Both the courses are highly respected and recognised in the accountancy sector, yet they have major differences especially in terms of job opportunities. In order to draw a comparative study between the two degrees, one must understand them individually and then draw parallels. Subsequently, you will be able to understand why work roles with CA and ACCA both differ remarkably.
Scope of ACCA Degree and CA
ACCA or Association of Certified Chartered Accountant is a degree that is given after an applicant has cleared 14 papers that have their core in accountability, diversity, integrity and logic. The degree was launched in partnership with the Association of Chartered Accountant and is accepted in almost 180 countries. ACCA has become increasingly popular with students due to its global significance and they take suitable training to prep for the exams. ACCA courses in Singapore are among such suitable and well-structured programs.
CA is only recognised by the professional body Institute of Chartered Accountants of India (ICAI). The course focuses on areas such as finance, taxation, auditing, company law and more. This degree, while valuable is only limited to India and can help one find excellent opportunities within the country.
The difference in work sphere
An ACCA basically deals with tasks that are connected to inspection in the field of taxation and accounting. They are employed by the public as well as private companies. Many multinational companies that deal with clients across the border prefer to work with ACCA qualified individuals. Such professionals can choose to work in any field of finance such as finance controlling accounting and financial analysis.
A chartered accountant, on the other hand, occupies prominent financial profiles in government and private companies. Practising CAs are the first option of Indian companies as they have knowledge of Indian Laws and terms. Practising CA has the right to sign audit reports in the country as well.
Advantages that ACCA degree holder
Global recognition- In terms of finding a suitable job role, an ACCA offers a lot more choices as it is accepted and recognised all over the world. With a CA, you will get a great position but only in India. International laws- While CA offers a thorough understanding of local laws, with ACCA you will get acquainted with UK GAAP, Laws and IFRS. This means you will be well-trained to take up work related to international issues and laws.
While it would be unsuitable to compare the two degrees, it is evident that both cater to very different platforms. The CA which is considered highly reputable has limitations, while ACCA is fast widening its reach across the world. Both the industries promise great stability and monetary benefits, though if you are seeking to work in foreign shores then ACCA is more suited. Therefore, many CAs are also enrolling for this degree to add to their knowledge and make it big in the international arena.