ACCA vs ACA

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21 Aug, 2024

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Difference Between ACCA and ACA

ACCA (Association of Certified Chartered Accountant) exam helps candidates gain expertise in management accounting, auditing, accounting, taxation, etc., whereas ACA (Associate Chartered Accountant) provides in-depth knowledge in financial management, tax compliance, and accounting and reporting.

Both ACA and ACCA are of international repute and provide multiple job opportunities. However, ACA is more suitable for people who want to pursue their career in Auditing and Accounting. In contrast, ACCA is more comprehensive, giving options for people who want to pursue a career in management accounting, financial management, and financial services.

While choosing between ACCA and ACA, many students get confused about what to pick and pursue. But there are things you should think about before deciding on these two excellent career options.

First of all, before going into detail about these two courses, you need to make sure that you know what your career goals are. So, if you don’t know, find it out. Start with your likes and dislikes. Finance is a huge domain, and there are many options. Just because your friends are doing one and not doing another cannot be the reason for choosing one course.

As these two need a lot of patience, perseverance, and hard work, you can’t just choose one in a fluke. Take your time. Read about each of them (we’ve given all the details below). And then decide what suits you best.

People have different opinions. They also have different biases. Instead of asking other people what they think is the best option, read this, do your research, find out what aligns with your career goals, and then go for the one that's right for you. There’s no right answer for everyone.

In this article, we will discuss the following –

Infographics
What is the Association of Chartered Certified Accountants?
What is an Associate Chartered Accountant?
Key differences
Why pursue ACCA?
Why pursue ACA?

ACCA vs ACA Infographics

Reading Time: 90 seconds

Difference Between ACCA and ACA - Infographics

ACCA vs ACA - Comparative Table

Section	ACCA	ACA
Certification Organised by	The Association of Chartered Certified Accountants (ACCA), UK, the exams are conducted.	The exams are organized by the Institute of Chartered Accountants in England and Wales (ICAEW), UK.
Pattern	The course is divided into three levels Applied Knowledge Applied Skills Strategic Professional (Essentials and Options)	The course is divided into three levels. Certificate Level Professional Level Advanced Level
Duration of Course	The candidates must complete all the exams within ten years from the first successful exam. However, candidates usually take 3 to 4 years to complete the course.	A candidate can complete all the levels within three years.
Syllabus	Some of the main subjects that are covered during the entire course are Financial Management Financial Reporting Accounting & Auditing Taxation Ethical & Professional Standards	Some of the main subjects that are covered during the entire course are Accounting Business & Finance Management Information Business Strategy Business Planning (Taxation) Audit and Assurance Financial Accounting & Reporting Corporate Reporting
Exam Fees	The overall cost of the course lies in the range of £1,200 to £2,000, which includes a registration fee of £89, an annual subscription of £112 and exam fees as well as exemption fees. The spread in the overall cost is due to the huge variation in exam fees depending on the time of registration.	The overall cost of ACA can be broken down Annual student fee – £180 +VAT Exam fees Certificate Level – £72 Professional Level – £103 Advanced Level – £175 Case Study – £267
Jobs	Some of the common profiles include Accountant Tax Manager Financial Consultant Internal Auditor Finance Manager	Some of the common profiles include Auditor Finance Manager Business Analyst Management Accountant Forensic Accountant
Difficulty	It is quite difficult as only ~30% of the candidates can clear the exams in some subjects. For example, during March 2020, the pass rates for the Strategic Professional (Options) exams were 32% to 44%, while that for Applied Knowledge exams were high in the range of 65% to 82%.	It is moderately difficult. In 2019, out of all the candidates who appeared for the Professional and the Advanced level exams, ~68% and ~73% passed all the exams.
Exam Date	The upcoming exam schedule for 2022 Mar 07-11 Jun 06-10	The upcoming exam schedule for 2022 Certificate Level: Any time Professional Level: Mar 07-09, Jun 06-08, Sep 05-07, and Dec 05-07 Advanced Level: Jul 18-20 and Nov 07-09

What is the Association of Chartered Certified Accountants?

ACCA (official website) is one of the most sought-after certifications you can choose to pursue. It is one of the fastest-growing accountancy professions in the world. Over 436,000 students have chosen to pursue ACCA, and they are from 180 countries in the world. The best part of ACCA is its flexibility, allowing its students to balance study and work very well. To study ACCA, you can choose not to do any class and do your self-study.

If you talk about comprehensiveness, ACCA fits the bill perfectly. It prepares the students for technical and management, both domains. Thus, once the students complete their certification, they’re ready to join any reputed company and handle its finance domain with ease.

With ACCA, you would get an excellent education within a short budget. Moreover, it has a huge global presence, and once you do it, you will be recognized as a world-class accountant. Even the top-notch companies prefer ACCA more than any other professionals from the finance domain.

What is an Associate Chartered Accountant?

ACA is also a recognized and sought-after accountancy course for students and professionals. It also has international recognition and many students who dream of joining Big 4 companies usually pursue ACA.

ACA also helps you create a delicate balance between your study and work so that you’re able to create a work-life balance and thrive as a professional. ACA doesn’t have only one entry route; rather, it has several and can do it even from Europe, the USA, and Asia.

ACA is also very cost-effective. Under a very small budget, you would be able to get a globally recognized degree, and as a result, you would be treated as an expert in the accounting field. The Institute of Chartered Accountants of England and Wales (ICAEW) has designed ACA to become a perfect blend of practical approach and technical knowledge. That’s the reason many students are getting interested in doing this. ACA is also available from Chartered Accountants Australia and New Zealand. But if you want to do ACA, do it from ICAEW as it’s the most recognized and globally accepted.

Why Pursue ACCA?

There are several reasons for which you should pursue ACCA. Here are some of them –

It is more globally recognized, and anywhere in the world, this qualification is valid. Thus, if you need to change the country, you can still carry your qualification with you and remain employable.
ACCA is of much shorter duration, just two years. ACCA is for you if you want to get a globally acclaimed qualification within a short stint of time.
The fee structure of ACCA is also very reasonable. You don’t need to put yourself into debt to afford this qualification. Thus many students can make a hard decision to join ACCA.
As ACCA is a more comprehensive course, it offers many job opportunities in different fields. You can choose to work in a financial services company, FMCG, Education Industry, or Accounting firm.
Students feel that ACCA is much easier than any other course in the finance domain. First of all, even if you need to have three years of experience, you can have experience in the finance domain of any company. So, there’s no strict regulation to follow.

Why Pursue ACA?

Even if it’s one of the toughest exams in the world, you should pursue this course because, in the end, it pays you so well that you don't regret working harder than ever. Suppose you compare per annum salary with any other professional compensation. In that case, you will find that you could get almost double or triple the salary other professionals are getting as an ACA.

ACA offers you a practical approach and technical knowledge, which many professional courses fail to offer. Thus, it is treated as one of the most relevant finance courses in the world.

ACA offers a lot of post-qualification support, which is not provided by any other institute or board of education. Thus students get to update themselves regularly and remain at the top of their profession all the time.

Conclusion

Suppose you look at both ACCA vs. ACA. Thus we cannot pinpoint the best option for you. Do your soul search and find out which aligns most with your career goals.