Difference Between CA vs ACCA
The requirement of finance professionals is increasing day by day in modern businesses. Thus the role of Chartered Accountants is evolving across various parts of the worlds as business requires professionals to manage. Professionals who are qualified in Finance and have knowledge in Taxation, Auditing, Legal, and Management are in huge demand as the scope across each field is expanding.
Thus there lies requirement of governing bodies who would certify these professionals. ACCA and ICAI are the two governing bodies which grant Certified Chartered Accountant degree to professionals. ACCA stands for Association of Certified Chartered Accountant and they grant Chartered Accountant degree with collaboration with the Association of Chartered Accountant and situated at London. CA degree in India is given by The Institute of Chartered Accountants of India. Both CA vs ACCA are highly qualified Finance courses designed for the Accounts and Finance professionals who are passionate about making a career in Accounting, Taxation, Auditing, and Finance.
ACCA has more or less same kinds of opportunities and the term charter in ACCA stands for Royal Charter which is referred as Royal Charter granted in 1974. CA course was first granted in the year 1944 and the governing body was ICAI. The group of professionals is needed in every aspect of Business, non-business and other segments.
ACCA degree was introduced with the intention to give protection to the SMEs and individuals. The Exam of ACCA consists of 14 papers and the course structure prioritizes on the core values of integrity, accountability, diversity, and logic etc. The degree is accepted across the globe within 180 countries. The Degree has its own reputation of one hundred years and the professionals have provided services to more than 7500 employers across a different field. The 3 important steps of ACCA are applied knowledge (Diploma), Applied Skills (Advance Diploma) and essentials.
Chartered Accountant degree which is issued by ICAI are well competent with ACCA but it has a certain difference in terms of contents. As the Legal and corporate laws along with Accounting standards are based out of India so the content is mainly focused on the Indian constitution. To enroll for the course, one has to pass the matriculation and can opt for enrolling of the course. No work experience is required to enroll in the course. However, the course itself has a one-year Internship which should be done under a firm or a company.
CA vs ACCA Infographics
Below is the top 5 difference between CA and ACCA
Key Differences Between CA vs ACCA
Both CA vs ACCA are popular choices in the market; let us discuss some of the major Difference Between CA vs ACCA:
- ACCA is an international degree and accepted across the globe; more than 180 countries. CA is only valid in India as the course is designed for India only. The Institute of Chartered Accountants is the authorized entity for the course.
- ACCA is more than 100 years old course and is accepted in more or less every country. CA is applicable only in India and was commenced in the year 1944.
- The course content has a difference – ACCA is very advance and covers all the regulations which are accepted internationally. Whereas the course is updated on the basis of the requirement of Indian constitutions and taxation policies only. However, the subjects are more or less similar to each other.
- Work experience required enrolling for the course of ACCA is two-three years experience in Accounting along with Graduation degree. However, any Indian citizen who has passed the Matriculation level can opt for the course of Chartered Accountant.
Head To Head Comparisons Between CA vs ACCA
Let’s have a look at the Comparison between CA vs ACCA:
|The basis Of Comparison Between CA vs ACCA||
|Related to||Full form of ACCA is Association of Certified Chartered Accountant which is certified by the Association of Chartered Accountant. Candidates successfully passing the course are eligible for Auditing, taxation, Management Accounting, Handling accounts etc for public firms as well as private Organizations.||CA stands for Chartered Accountant which specializes in Financial Accounting and Finance and caters to all the fields of Finance. The degree is given by ‘The Institute of Chartered Accountants of India’. After passing the exam, the candidates are entrusted with several fields within finance and Accounts.|
|Field of Work||The primary Work is related to inspection across Taxation & accounting to the public, private entities etc. The candidates required passing the Exam and acquire the certificates before the inspection of Public and Private entities. Other than Auditing; taxation etc ACCA can work globally across any Field of finance like Finance Controlling, Accounting, and Financial Analysis etc. A certified ACCA deals with International Accounting Standards.||Chartered Accountants work across various Finance positions primarily in Government Concerns and Private entity. They can work under their own firm with the help of their own registration number. The certificates are primarily valid across India as the degree is given by Indian Institute of Chartered Accountants. The Degree is not valid outside India. The Accounting Standard which they deal with is primarily GAAP and IAS.|
|Tenure||The time frame required to complete the course is three years plus training of 2-3 years.||The tenure of the three to five years depending upon the capability of the candidate and with additional experience of one year.|
|Position||The Candidates primarily deals with the rules and regulations and implementations of policies within a company and compile with the Auditing and Taxation part.||CA works with Government and as well as a private organization at the level of Gazette Officer. The power of attorney is given by the ICAI.|
|Experience required||The Minimum requirement of enrolling the course is three years of work experience with graduation or equivalent degree and complete three stages.||Minimum criteria required are Passing of Matriculation.|
CA vs ACCA – Final Thoughts
In this CA vs ACCA article, we have seen the legal aspect along with the implementation of different policies within the business is very necessary. Thus the bunch of Finance professionals is so important in modern business. Both CA vs ACCA are very in-depth courses and include almost everything which is required by finance professionals. The professionals can cater to the retail public, Individual, Government bodies, non-profit making organizations, and business houses. The fields across which they cater are taxation, accounting, auditing, finance, financial analysis etc. Thus to make sure the organization works smoothly CA vs ACCA courses come into the picture.
This has a been a guide to the top difference between CA vs ACCA. Here we also discuss the CA vs ACCA key differences with infographics and comparison table. You may also have a look at the following articles to learn more –