ACCA vs CA: The Difference Between ACCA and CA
The world of financing and accounting is vast, and when enrolling in these fields, you can choose from a wide range of courses. Among many such courses, two stand out among the rest. These courses are Chartered Accountants (CA) and Association of Chartered Certified Accountants (ACCA). Both qualifications open the door to promising careers in the field of accounting, and many seem a bit similar. However, they do differ in several key aspects, such as global recognition, course structure, and career opportunities. Taking this into consideration, you may want to ask the question - what is the difference between ACCA and CA?
In this blog, we discuss the key differences between CA and ACCA. But, before we go into details regarding the differences, let's first know what a CA and ACCA are.
These are the key differences between ACCA and CA. Now, as you may have noticed, the differences we mentioned here are based on Nepal. The specifics may vary depending on the nation.
What is ACCA?
The Association of Chartered Accountants (ACCA) is a globally recognized course that has over 233,000 fully qualified members and 536,000 students. This is a large number of qualified members and students; it is one of the most prestigious certifications in accounting. Therefore it is preferred by many students who want to build a successful career abroad. After graduating from ACCA, you can start your career at a multinational corporation or company or a local firm that handles overseas and local clients. You can choose various career options like finance, taxation, business consultants, audits, banking and more. Some of the nations that highly recognize ACCA qualifications include Australia, Ireland, the UK, and Canada.What is CA?
A Chartered Accountant (CA) is a professional designation in accounting and is recognized for its courses that delve into expertise in financial management, auditing, taxation, and business advisory. It is a highly sought-after career in the financial industry as a role that ensures high clarity in the legal-financial sectors. CA involves completing a rigorous curriculum, including exams and practical training. Furthermore, this course also plays an important role in ensuring financial accuracy, compliance, and strategic financial planning for a business. After graduating from CA, you can work in various sectors, including public accounting, corporate finance, and consulting. To further your career, you can join an audit firm, or local and multinational company as an internal auditor or engage in foreign or local banks to guide them in their financial and legal matters.CV vs ACCA: The Difference between ACCA and CA
Now that you know what a CA and ACCA are, let’s talk about the key differences between CA and ACCA. The key differences between these two courses in a tabular form are as follows:| Point of Difference | ACCA | CA |
| Recognition | ACCA is recognized in over 181 nations. | Although not as widely recognized, CA is recognized in various nations such as the UK, Canada, India, Nepal, South Africa, Sri Lanka, Bangladesh, and Pakistan. |
| Established Year | ACCA was established in 1904 AD. | CA was established in 1997 AD. |
| Regulating Body | It is regulated by ACCA Global based in the UK. | CA has various regulatory bodies depending on the nations it is based on. In Nepal, CA is regulated by the Institute of Chartered Accountants of Nepal (ICAN). |
| Course Syllabus | ACCA focuses on international accounting standards and global finance. | CA emphasizes national accounting laws, taxation, and auditing specific to the country of qualification. |
| Minimum Eligibility Criteria | Anyone can join ACCA as long as they have graduated from SEE. | The eligibility criteria for CA typically require completing higher secondary education (12th grade) in commerce or equivalent and passing the foundation-level entrance exam. |
| Demand | The demand for ACCA is higher in multinational corporations and globally oriented roles due to its international recognition. | CA is more sought after in countries with specific local regulations, particularly for national taxation and auditing. |
| Course Duration | Typically lasts for two to four years. | Generally lasts for three to five years. |
| Practice in Nepal | You need to pass some ICAN papers and fulfill articleship requirements. | As an ICAN member, you can directly go for practice in Nepal. |
| Accounting Standards | It focuses on IFRS (International Financial Reporting Standards), which gives additional knowledge of internationally accepted accounting practices, and GAAP (Generally Accepted Accounting Practice) | CA focuses on Nepal accounting standards, and recently, it has started to work in NFRS (Nepal Financial Reporting Standards) |
| Flexible Study Option | It is highly flexible as you can attempt a single paper at a time. | It's less flexible as you must attempt one group at a time. |
| Course Fee | ACCA costs are a bit higher when compared to CA | Is more affordable when compared to ACCA |
| Passing Percentage | The passing percentage of ACCA is between 40% to 50% | The passing percentage of CA is between 4% to 5%. |
| Articleship Required | ACCA mandates 3 years of relevant work experience, which can be completed before, during, or after exams. | CA requires a mandatory article of 3 years under a practicing chartered accountant. |
| Average Salary Range | ACCA professionals earn between NPR 5,00,000 to NPR 15,00,000 annually. | The average salary of a CA typically ranges between NPR 6,00,000 to NPR 20,00,000 annually. |
Benefits of Studying ACCA
After knowing the key differences between ACCA and CA in Nepal, let’s now talk about the key benefits of studying ACCA. Now, there are many benefits to studying this course. Some of the key benefits include:- Internationally recognized course that provides credibility and opportunities in over 181 countries around the world.
- The ACCA course allows for flexible study options and exam scheduling, accommodating different learning styles and schedules.
- The curriculum emphasizes international accounting standards, preparing students for global finance roles.
- Opens doors to a wide range of career paths in finance, accounting, and management across different industries and sectors.
- The qualification supports career progression to senior financial positions, including CFOs and financial directors.
- Joining ACCA provides access to a global network of finance professionals, which can be valuable for career growth and professional connections.
- ACCA is highly regarded by employers worldwide, often leading to better job prospects and career advancement.
- The ACCA program emphasizes ethical practices and professional integrity, which are crucial for maintaining high standards in the finance profession.
Benefits of Studying CA Course
Similar to ACCA, studying CA courses too has its own set of benefits. Some of the key benefits of studying CA courses include the following:- CA is highly esteemed within specific countries, such as Nepal, India, the UK, and Australia, offering significant local career opportunities and respect.
- It provides a deep understanding of national accounting standards, taxation, auditing, and business laws tailored to local regulations.
- The mandatory articles provide hands-on experience in real-world accounting practices, enhancing practical skills and industry knowledge.
- CA professionals often enjoy strong job security and high demand within their respective countries due to the rigorous training and qualification process.
- CA qualifications offer opportunities to specialize in areas like forensic accounting, financial advisory, or tax consultancy, depending on career interests.
- CA institutes provide access to a professional network and ongoing support, facilitating career growth and opportunities within the local industry.
- CA credentials are associated with high ethical standards and trustworthiness, making it a respected qualification among employers and clients.
Which Course is Better for Your Career: ACCA or CA?
After knowing the differences and benefits, you may wonder- which course is better for your career? The honest answer is, “It depends on your preferences and circumstances”. The following are the key factors to consider:- Global Career Aspirations: If you aim for a global finance career or work in multinational companies, ACCA's international recognition and flexible learning options may be more beneficial when compared to CA.
- Local Expertise: If you prefer to focus on a specific country’s accounting standards and regulations, particularly for roles in taxation, auditing, and local finance, CA might be more suitable, especially in countries where CA is highly regarded.
- Career Flexibility: ACCA offers broader global career opportunities and is well-suited for international roles, while CA provides deep specialization and high respect in local markets.
- Study and Work Preferences: ACCA allows for flexible study and work experience, whereas CA involves mandatory articles providing hands-on experience.
How to Study ACCA in Nepal?
After knowing the differences, benefits, and reasons to study ACCA courses, there may be many who want to learn about how to study ACCA in Nepal. The good news here is that you can study this course in Nepal with some simple steps by being associated with Seekshya Academy. We provide you with the best ACCA course in Nepal, both online and in-person. If you want to enroll in ACCA, do let us know by contacting us at the following details:- ACCA: +977 9800870038
- Email: seekshyaacca@gmail.com
- CA-ICAN: +977 9869413662
- Email: seekshyaacca@gmail.com
Why Seekshya Academy to Study ACCA in Nepal?
There are many reasons to choose Seekshya Academy to study ACCA in Nepal. Some of the key reasons include:- Seekshya Academy is officially accredited by ACCA, ensuring that you receive a globally recognized qualification.
- Our academy boasts a team of highly qualified instructors with a proven track record of success in ACCA exams.
- We offer extensive study materials, practice exams, and access to valuable online resources to support your preparation.
- Seekshya Academy provides various study formats, including online and in-person options, to fit different schedules and learning preferences.
- With strong reviews and a positive reputation among past students, Seekshya Academy is known for its quality education and student success.
- We provide competitive pricing and financial support options, making the course more accessible.
- Seekshya Academy offers a convenient option for students across multiple locations, including but not limited to Damak, Birtamode, and Birgunj.
Conclusion
Choosing between ACCA and CA is a significant decision that depends on individual career goals, geographical preferences, and personal circumstances. Both qualifications offer valuable opportunities in the field of accounting and finance but with distinct advantages. ACCA provides a globally recognized qualification, ideal for those seeking international career prospects and flexibility in their studies. It offers a broader perspective on global financial practices and is highly valued by multinational corporations. On the other hand, CA offers deep expertise in local accounting standards, taxation, and auditing, making it particularly valuable for those planning to work within specific countries where it is highly regarded. The mandatory articles in CA provide hands-on experience that can be advantageous in the local job market. Ultimately, the choice between ACCA and CA should align with your long-term career aspirations. In this blog, we discussed the differences between ACCA and CA, what they are, their benefits, and which courses are better for your career. We hope you found this helpful. If you seek further insights into the various aspects of ACCA, feel free to check out some of our other blogs. And if you want the best ACCA course in Nepal, look no further than Seekshya Academy. Thank you for reading till the end.FAQs on Difference Between ACCA and Ca
Are ACCA and CA the same?
ACCA and CA are distinct qualifications with different focuses. ACCA is internationally recognized and emphasizes global accounting standards, offering broad career opportunities worldwide. In contrast, CA typically focuses on national accounting practices and regulations specific to the country of qualification, often including a mandatory practical training period, and is generally more regionally recognized.Is ACCA harder than CA?
The difficulty of ACCA versus CA depends on various factors. Some of these factors include your strengths, educational background, focus of qualification, and career goals. ACCA's exams cover international accounting standards and offer flexibility, but they can be challenging due to the breadth of topics and the requirement for global knowledge. CA exams are often considered rigorous due to their deep focus on national accounting practices, specific local regulations, and the mandatory practical training or articles component.Which is the best ACCA college in Nepal?
Among many ACCA colleges in Nepal, Seekshya Academy is one of the best ACCA colleges in Nepal. There are many reasons why Seekshya Academy is considered one of the best. Some of these reasons include:- Seekshya Academy is ACCA-accredited, ensuring a globally recognized qualification.
- Our instructors are highly qualified with a proven track record in ACCA exams.
- We provide comprehensive study materials, practice exams, and online resources for effective preparation.
- Study options include both online and in-person formats to suit different schedules.
- The academy has a strong reputation and positive reviews for quality education and student success.
- Competitive pricing and financial support options are available to make the course accessible.
- We are conveniently located in multiple areas, including Damak, Birtamode, and Birgunj.