Will ACCA course takeover CA in terms of popularity and employability?

Accounting has been one of the most popular professions in the financial domain for a long time owing to its excellent career prospects and chances of career progression. There are numerous courses and professional qualifications in the subject like CPA or ACCA that cater to different purposes and academic backgrounds.

Choosing an appropriate qualification like ACCA or CA from the wide variety of accounting courses and certifications can be a challenging task. Debates on ACCA vs CA can stretch for long if you are unaware of the critical differences between these certifications.

If you want an aspiring accountant who is unable to choose between ACCA and CA, you can read this blog to explore several good reasons to choose an ACCA qualification over a regular CA qualification.

What is CA?

Standard chartered accountancy or CA credential allows accountants file tax returns, audit financial statements and provide advisory services to clients on behalf of a company. Almost every country has different rules and regulations for completing the CA qualification.

For instance, New Zealand mandates aspiring chartered accountants to complete a bachelor’s degree, an accredited master’s degree covering accounting, a practical experience program and an advanced CA program to achieve the qualification formally.

Owing to the difference in rules and regulations governing chartered accountants in different countries, regular CA qualification holders set up their accountancy practices in their home country.

What is ACCA?

ACCA is short for Association of Certified Chartered Accountants and refers to a global accounting body with more than 2 lakh members across 76 countries. The ACCA certification is hugely reputed and is recognised by countless employers and organisations worldwide.

The qualification consists of 14 papers that can be completed within a long duration of 10 years. ACCA requirements are not that stringent, and students with the non-finance background can also appear for the exam.

Why is ACCA better than any CA qualification?

A regular chartered accountancy degree can enhance your career in a limited region. Furthermore, your knowledge would be incredibly topical, which can leave you at a disadvantage when you apply for international jobs.

Since ACCA is an international organisation, its members can work in any part of the world. ACCA covers the taxation and accounting systems of significant countries. Opting for an ACCA qualification can ensure that your employability can be expanded to most developed countries like the UK or the USA.

Another vital advantage of ACCA over any national CA qualification is the standardisation of the ACCA curriculum. ACCA has an extremely competitive curriculum consisting of 14 papers that students can efficiently complete within 2 to 3 years. This curriculum remains constant for candidates hailing from different countries.

On the other hand, CA curriculums and their stringency vary from country to country, and there is no specific time frame for qualifying, which can limit the chances of your working as a CA abroad.

An ACCA qualification has better applicability than a regular CA certification throughout the world across any domain. Hence, you should choose ACCA course over CA to enhance your career prospects in the accountancy domain.