CA vs ACCA: Key Differences, Career Paths, and Salary Comparison
Published on: January 15, 2025
A Chartered Accountant is a professional certification by the Institute of Chartered Accountants of India (ICAI). They work in the fields of accounting, auditing, taxation, and finance. It is one of the toughest courses in India, is highly regarded, and offers substantial prestige in society.
ACCA is (the Association of Chartered Certified Accountants) the Chartered Accountants of the UK who are recognised globally and work in the filed of accounting, auditing, and taxation.
CHARTERED ACCOUNTANCY COURSE – AN OVERVIEW
A chartered Accountant is a professional who is known for their expertise in Accounts, Auditing, Taxation, and Financial Management. They are administered by the Institute of Chartered Accountants of India (ICAI). It is one of the toughest courses in India and has gained global recognition and reputation. After becoming a Chartered Accountant, one can choose between practice, employment or even teaching.
· Eligibility
There are two ways to approach this course:
- Foundation Route
Under this route, a Class X passed student may register with the Board of Studies (BoS) of the Institute for the Foundation Course, but they can attend the exams only after clearing Class XII board exams. - Direct Entry Route
The ICAI allows the following candidates to enter directly into its Intermediate Course:- Commerce Graduates/Postgraduates with a minimum of 55% marks.
- Other Graduates/Postgraduates with a minimum of 60% marks.
- Intermediate-level passed candidates of the Institute of Company Secretaries of India and the Institute of Cost Accountants of India.
Candidates pursuing their Final Year Graduation/Postgraduation Course are eligible for provisional registration for the Intermediate Course, which shall be confirmed only upon submission of satisfactory proof of having passed the graduation/postgraduation examination with the minimum marks mentioned above, before applying for admission to the Intermediate Examination.
· Course structure
CA course is divided into three structures namely – Foundation, Intermediate, Articleship (internship), and Final.
· How can I become a CA?
One can pursue a CA either after the 12th board or getting a degree. Having a degree with 55% helps a candidate to start the CA journey from the intermediate level without the need for a foundation.
· Syllabus & Curriculum
*Students must pass the papers individually as well as obtain 50% of the aggregate in order to clear each level.
*Students must also undergo a mandatory internship (known as articleship) for a period of 2 years after clearing both the groups of CA Intermediate to be able to appear for the CA Final exams which can be done under a CA firm or an industry.
* While Foundation and Intermediate exams are conducted thrice a year (January, May, September), Final exams are conducted twice a year (May and November).
Duration – 4.5-5 years
Responsibilities of a CA
The responsibilities of a CA include :
(a) Financial advice
(b) Auditing
(c) Tax consultancy
(d) Investigations
(e) Reconciling of statements and so on
Job positions of a CA
CAs take up job positions such as :
(i) Chief Financial Officer
(ii) Chief Executive Officer
(iii) Audit and Accounts Manager
(iv) Financial Analyst and so on
What is the cost of Doing CA?
The estimated cost of doing CA is approximately Rs. 80,000. This can vary according to the coaching institutes one prefers to join.
What is the salary of a CA in India?
The initial average salary of a CA is Rs. 8 LPA which can rise up to Rs. 75 LPA depending upon one’s knowledge, experience, and specialisation he has opted for.
Global recognition
The Indian Chartered Accountancy course has global recognition and is not just limited to India. However, some countries will need Indian CAs to have additional qualifications to work for them.
ACCA COURSE – AN OVERVIEW
The Association of Chartered Certified Accountants (ACCA) is a prestigious global professional accounting body for accountants in the fields of accounting, audit, tax, and finance.
Course structure
Candidates must pass 14 exams to qualify for ACCA membership. The initial 4 exams can be exempted if one holds a degree. The course also requires candidates to have practical experience for a minimum of 36 months and achieve specific performance objectives during that time.
ACCA course eligibility
After class 10th
Students can also apply after completing Class 10, but they must first complete a Diploma course in ACCA
Foundation before starting the main ACCA subjects.
After Class 12
Students must have completed their higher secondary education (10+2) with:\
A minimum of 65% in Mathematics or Accounting and English.
An overall aggregate of at least 50% in other subjects
Eligibility for Graduates
Graduates from commerce-related fields (e.g., B.Com, BBA) can pursue ACCA from the Skill Level. The
number of paper exemptions available to them depends on the university from which one graduates. Graduates
from other disciplines (e.g., BA, B.Sc.) can also apply but must first obtain the ACCA Foundation Diploma
Syllabus & Curriculum
Ethics and Professional Skills Module
This module supplements your technical knowledge by helping you develop the ethical and professional behaviors you’ll need to complete your Strategic Professional exams as well as preparing you for a successful career as a trusted and confident professional accountant. It should be started after the Applied Knowledge exams have been completed and before commencing the Strategic Professional exams.
To qualify for ACCA membership, candidates need to complete a minimum of 36 months of relevant work experience and achieve specific performance objectives which is called the Practical Experience Requirement. Students are eligible to start their practical training after qualifying the skill level.
Duration : 3 to 4 years (depends upon the pace of clearing the exams and the paper exemptions on prior qualifications)
Responsibilities of ACCA
1. Financial Reporting
2. Management Accounting
3. Audit and Assurance
4. taxation
5. Consultancy
Job positions of ACCA
1. Auditor
2. Chief Financial Auditor
3. Tax Consultant
4. Financial analyst
Course Fees
The course fee for ACCA is approximately Rs. 2.5 lakhs (excluding coaching fees), but this can change according to the change in the foreign exchange rate and the number of attempts.
Global recognition of ACCA
ACCA professionals are globally accepted in over 180+ countries including established financial centers like the UK, Singapore, and emerging markets in Africa and the Middle East.
DIFFERENCE BETWEEN ACCA AND CA
The CA and ACCA are both globally recognised prestigious professional courses pursued by a large number of students with the core subjects lying in accounts, finance, tax, and audit. However, there are a few differences between them:
ACCA OR CA WHICH IS BETTER IN INDIA
Both CA and ACCA are leading professional commerce courses with each of the course having its attractive side. The decision as to which is a better one is purely subjective and based on an individual’s interest.
However, some of the factors that can guide an individual decision include:
Place of work
If an individual wants to work abroad and sees their future there, it is better to pursue ACCA since it has recognition in over 180 countries. CA being an Indian course, though has global recognition, might require additional qualifications to work abroad.
Ease of clearing papers
A student who wants to become a professional within a short period can go with ACCA since the papers of ACCA can be cleared individually unlike CA where the papers have to be attended together as a group. This makes the passing of the papers much easier.
Cost of the course
ACCA being an international course is much more expensive than CA and depends upon the foreign exchange rate.
Salary package in India
In India, a Chartered Accountant earns more than an ACCA
CA V/S ACCA SALARY
The initial average salary of a CA is Rs. 8 LPA which can rise up to Rs. 75 LPA depending upon one’s knowledge, experience, and specialisation he has opted for.
The salary of an ACCA – is Rs. 7 LPA which can rise up to Rs. 32 LPA depending on experience and knowledge. The high Initial Average Salary – Rs. 15 LPA
CA V/S ACCA SALARY ABROAD
FAQs
1. CA or ACCA which is a better course?
The answer as to which is a better course depends purely on an individual’s interest, career goals, preferred geographical location for a job, economic condition to afford the course, and salary expectations.
2. Which is more difficult to pass – CA or ACCA?
CA is considered more difficult to pass because of its rigorous exams and low pass rates.
3. Which is more expensive – CA or ACCA?
The ACCA being an international course is more expensive when compared to CA.
4. Which of the two – CA or ACCA has more global recognition?
Both CA and ACCA are globally recognised courses. However, ACCA has more global recognition expanding over 180 countries.
5. Can I pursue ACCA after the CA course?
Yes, ACCA can be pursued after the CA course. ACCA recognises the CA course, therefore the student has to mandatorily clear the last 4 papers and is exempted from the remaining papers.
5. Can I pursue a CA after the ACCA course?
Yes, but the student will have to start from the Foundation level without any paper exemption. However, if he has a degree then he can commence from the Intermediate level.
