ACCA vs ACA

In the field of accounting and finance, the ACCA vs ACA are professional designations that differ in scope and recognition and are provided by distinct accounting bodies. The ACCA vs ACA debate can look daunting, but this blog will help you decide between the two, and explain the ACA certification in detail.

While the ACA certification is renowned for its demanding training in technical accounting and auditing capabilities, the ACCA course is known for emphasizing a wider range of business and financial management abilities in addition to accounting.

What is the difference between ACCA and ACA?

ACA provides in-depth knowledge of accounting, financial management, reporting, and tax compliance. On the other hand, ACCA helps applicants build competence in worldwide accounting, auditing, and taxation, among other things. The table given below will further let you understand the differences between the two:

 

Feature	ACCA	ACA
Offered by	Association of Chartered Certified Accountants	Institute of Chartered Accountants in England and Wales (ICAEW)
Focus	The broader range of business and financial management skills	Technical accounting and auditing
Recognition	Globally recognized	More recognized in the UK and some Commonwealth countries
Structure	Four levels: Applied Knowledge, Applied Skills, Essentials, Options	Three levels: Certificate, Professional, Advanced
Course Duration	3-4 years	3 years
Eligibility	Completed HSC (10+2) with a minimum of 65% in English and Accounts or Maths and 50% in other subjects or a Bachelor's degree in any discipline	Bachelor's degree from an accredited university in the UK or Ireland or a recognized accounting degree
Salary (INR)	Starting salary: ₹5-7 Lakhs p.a.	Starting salary: ₹7-10 Lakhs p.a.

 

Explore more on related ACCA topics by checking out these additional resources; 

• ACCA vs CA
• ACCA vs CPA
• ACCA vs CIMA 
• ACCA salary in Dubai

Both the ACCA and the ACA are respected degrees that offer promising career options and are highly valued by businesses. That being stated, students must grasp the differences between the two to select the choice that would allow them to pursue their career goals.

Candidates must do their homework to ensure that the path they choose is the best fit for their goals, from comprehending the course structure to deciding whether they want to pursue a future career in business or practice.

What is ACA?

ACA's full form is Associate Chartered Accountant. ACA course is offered by the Institute of Chartered Accountants in England and Wales (ICAEW) - one of the world's oldest and most famous accounting groups. It is frequently connected with positions in auditing, corporate finance, and other areas of accounting firms and organizations. The ACA program is notable for its structured training program, which usually involves a training contract with an approved business. In addition to the testing procedure, this contract requires on-the-job training.

What are the key components of ACA?

The ACA course has four components that prepare you for a profession in accounting:

• Practical job experience:

Unlike other certificates, the ACA requires candidates to complete 450 days of accounting-related work. Once they have completed the certification procedure, they will be better prepared for their careers and more employable.

• ACA Exams:

Students pursuing the ACA certification must complete a series of tests to demonstrate their mastery of accounting practices. Students study a total of 15 courses divided into three levels, with an exam for each.

• Professional development:

Before earning the ACA credential, students undergo a lengthy development and training process that prepares them for the challenges they might face as an accountant.

• Ethics and professional skepticism:

Accountants are subject to very strict ethical rules in their work, and ACA provides ethics training to prepare students for scrutiny in their careers.

Everything about the ACA Qualification Process

Earning the ACA qualification entails taking many important steps over the course of three to five years. This includes completing needed work hours and taking exams to evaluate and certify one's understanding of business and accounting. Here are the key processes that students take to become qualified accountants:

Choosing a Career Path

Unlike some other certification programs, obtaining the ACA qualification does not require a college degree. Once pupils have completed their high school education, they can begin working toward certification. The ICAEW offers numerous career paths for students, including:

• ICAEW Apprenticeships
• Joint programs with other professional accounting organizations
• ICAEW certification in finance, accounting, and business
• Undergraduate accounting degrees
• Postgraduate degrees

Completing Work Experience

The ICAEW requires ACA candidates to complete 450 days of accounting work. Candidates must complete their work experience with an ICAEW-approved training employer. This gives candidates the real-world experience they need to find future employment. The ICAEW recognizes about 5,000 approved training employers (ATEs) in nations worldwide. To discover an ATE near you, go to the ICAEW website.

Registering as a Student

The ICAEW demands that all ACA candidates register as students with their organization. They can choose to do this stage before or after finding a training employer. After submitting their applications and receiving permission, students can begin preparing for the ACCA exam series with the assistance of the ICAEW. If a student has previously taken accounting courses, they may ask for a CPL or credit for prior learning. If they earn a CPL, they may be excluded from some exam components.

Completing Study and Exam Courses

Students who want to become certified accountants must qualify for a series of ACA exams to demonstrate their knowledge of accounting practices. The ACA qualification is made up of 15 courses organized into three levels: certificate, professional, and advanced level.

• The certificate level focuses on fundamental accounting principles and their application in business and management.

• The professional level emphasizes accounting fundamentals relevant to corporate strategy and planning. ACA exams are administered four times per year, and candidates may retake them up to four times.

• The advanced level emphasizes decision-making skills and includes two tests and a case study. Candidates may retake examinations as many times as necessary until they pass.

What is ACCA?

The Association of Chartered Certified Accountants is an accounting body based in London, United Kingdom. It authorizes professional accountants all over the world and grants one of the leading accountancy credentials to finance professionals.

 

Discover everything you need to know about ACCA course- syllabus, eligibility criteria, exam details and more. 

Students with the ACCA credential gain comprehensive accounting skills and knowledge; from financial accounting, management accounting, and taxation to business ethics and auditing. Passing the professional examinations and concluding the ACCA program, authorizes one to be a Chartered Certified Accountant. 

Frequently Asked Questions: FAQs

What is the difference between ACA and ACCA?

ACA provides in-depth knowledge of financial management, tax compliance, accounting, and reporting. On the other hand, ACCA helps applicants build competence in worldwide accounting, auditing, and taxation, among other things.

Can I pursue both ACCA and ACA?

Yes. You can seek both of these qualifications because there are multiple entrance points for each.

Is ACA more difficult than CA?

It is impossible to make comparisons on which is more difficult. However, an ACA qualification can be obtained in three years, whereas most people require many years to complete a CA.

Is ACA tough?

The ACA exam is undeniably hard. It is among India's top ten most difficult exams.