Are you looking to become a qualified accountant? If so, you may wonder which professional accreditation is right for you. CA or ACCA?
CA and ACCA are well-known and respected qualifications that will open many job opportunities. However, there are some key differences between the two that you’ll need to consider before making a decision.
To help you decide, we’ve compared the CA and ACCA qualifications side-by-side. We’ll highlight the key differences and similarities so you can choose the right qualification for your career goals.
What is a CA?
CA stands for Chartered Accountant. The Indian Institute of Chartered Accountants of India (ICAI) bestows this professional accreditation on accountants in India. To become a CA, candidates must pass three levels of examinations, complete a period of practical training, and meet certain other requirements.
What is an ACCA?
The Association of Chartered Certified Accountants is referred to as ACCA. This international professional accounting body offers the Chartered Certified Accountant (ACCA) credential. One of the most well-known accounting credentials in the world, the ACCA certificate is recognised in more than 180 nations.
What is the eligibility of CA vs ACCA?
Eligibility of ACCA
To become a Chartered Accountant in India, you must meet the following eligibility criteria:
- Minimum 65% in Mathematics, English and Accountancy
- Minimum 50% in all other subjects
Eligibility of CA
- Minimum aggregation of 50% in Class 12 subjects
How many papers are there in CA vs ACCA?
Number of papers in ACCA
To become a fully qualified ACCA member, you must pass all 13 papers and the Professional Ethics module. You will gain exemptions for up to 9 papers based on your qualification.
The ACCA examination courses are categorised into three parts – The Fundamental level, The Professional level and an Ethical and Professional Skill Module.
Each level has a different focus. You must complete all the levels to qualify as a chartered accountant.
Number of papers in CA
There are 3 levels of exams in CA foundation, intermediate, and final. Each level of the exam consists of 4 to 8 papers. Students should attend the exams in a group system.
Candidate should crack each level in a single attempt, failing which the whole group should be attempted again.
Salary of ACCA vs CA
Salary of an ACCA in Uk and in India`
- ACCA salary in the UK based on certifications – £16,181 per annum.
- According to a recent survey by the ACCA, the average salary for an ACCA in India in 2023 is around INR 12 lakhs per year. However, salaries can range from INR 5 lakhs to INR 20 lakhs per year, depending on your experience, skills, and location.
Salary of CA in India
Some clear salary details of CA in India for entry, mid, senior, and executive levels are given below:
- Entry-level: The salary of a CA just starting their career is typically around INR 5 lakhs per year.
- Mid-level: The salary of a CA with 5-10 years of experience is typically around INR 10 lakhs per year.
- Senior-level: The salary of a CA with 10-15 years of experience is typically around INR 15 lakhs per year.
- Executive-level: The salary of a CA with 15+ years of experience is typically around INR 20 lakhs per year.
These are merely averages; a CA’s pay will vary based on location, experience, skills, and other factors. However, CAs in India generally enjoy high salaries and have good job prospects.
Signing Authority of CA vs ACCA
- Chartered accountants (CAs) have signing authority in India, with the Institute of Chartered Accountants of India (ICAI) having the sole signing authority.
- ACCAs have signing authority in many countries, such as the United Kingdom, UAE, Switzerland, Australia, etc. But ACCA has no signing authority in India.
How many exemptions are there for ACCA vs CA?
Exemptions in ACCA
ACCA offers a range of exemptions for students who have completed relevant prior learning. If you have studied at the degree level or have relevant work experience, you may be eligible for exemptions of up to 9 papers.
Exemptions in CA
Students who meet the requirements can be exempted from the foundation level from ICAI.
- CMA – Inter-qualified students
- Commerce graduates UG/PG with 55%
- Any other graduates UG/PG with 60%
How difficult are ACCA and CA?
The pass rate of ACCA is comparatively higher than that of CA.
On average, 50% of the ACCA candidates passed the exams. At the same time, only 15% of the candidates cracked the CA exams.
Articleship/Internship of CA vs ACCA
Internship of CA
After a CA student passes the IPCC Group 1 exam, they must complete a 3-year articleship period before appearing for their Final CA exam. The articleship typically consists of working in a CA firm.
Internship of ACCA
ACCA students can start their 3-year work experience before, during, or after their exams. The start and end dates are at the discretion of the students. ACCA students are not required to work in a CA firm.
What is the Fee Structure of ACCA vs CA?
Total CA course fee in 2023
- Total CA Foundation Course Fees – ₹ 10,700
- Total CA Intermediate Course Fees – ₹ 36,600
- Total CA Final Course Fees – ₹ 39,800
Reattempting the examination increases the fee structure’s cost.
Total ACCA course fee in 2023
The total course fee of ACCA in 2023 varies depending on the country and the exam sitting. The average cost of the ACCA program is around INR 3 lakhs.
ACCA after CA qualification
Students who have already completed or are completing their CA (Chartered Accountancy) can save time by completing their ACCA (Association of Certified Chartered Accountants). ACCA offers a range of Exemptions for CA-qualified students. This would make it extremely easy for students to complete both programs simultaneously!
Quick recap of this blog
Summary
Our blog post compared the two most popular accounting certifications. We discussed the key differences between ACCA and CA, such as the curriculum, cost, and job prospects. It is up to you to select the right Certification that best fits your professional objectives and aspirations for the future.
We also offer exclusive guidance to assist you in selecting the best Certification for your professional aspirations. So whether you’re interested in working in public accounting, industry, or government, we can help you find the right path to success.
To learn more, contact us today. We’ll happily answer any questions and help you start your journey to becoming a certified accountant.
