The demand for qualified finance professionals is constantly increasing with the advancement of the global economy. These professionals manage all the financial and managerial aspects of the organization, including accounting, taxation, and auditing.
Moreover, organizations also require regulating authorities to manage the work of these professionals. In this article, we shall be talking about two major certification courses that are CA and ACCA to understand their meaning and what makes them different from each other.
The significant difference between CA and ACCA:
|Idea||CA offers in-depth knowledge of principles of accounting, taxation, auditing, and Indian Corporate law.||ACCA offers a robust platform in core principles of accounting and is mainly useful for finance and auditing profiles.|
|Certifying Authority||This course is certified by The Institute of Chartered Accountants of India (ICAI)||This course is certified by the Association of Chartered Certified Accountants – the UK|
|Examinations||CPT- 4 Papers
CA Inter- 8 Papers
CA Final- 8 Papers
Total of 20 Papers
|Knowledge Level- 3 papers
Skills Level- 6
Professional Level- 2 Compulsory+2 optional (Out of 4 Papers)
Total of 13 Papers
|Eligibility Criteria||Higher Education- 10+2||Higher Education- 10+2|
|Course Duration||Approximately 5-6 years||within 2-3 years|
|Reach||CA course is developed for India, hence valid in India Only||ACCA is a globally acclaimed course|
|Areas of Work||Local Generally Accepted Accounting Principles (GAAP)||International accounting standards and International Financial Reporting Standards (IFRS)|
|International Preference||Preferred only in India||Preferred in 181 countries including India.|
In Conclusion, both CA and ACCA are highly regarded in the professional sector. While the CA’s are mostly preferred as the audit signing authorities in the local market, the ACCA’s are given global preference. The selection of one qualification over the other totally depends on the personal choice and work preference of the individuals, that is whether they wish to work within the country or look forward to work abroad.