Does the ACCA qualification add value to a CA

In today’s fast-paced finance world, having one qualification alone may not necessarily help you stand out. So if you are a Chartered Accountant in India, you would be thinking about whether it’s really worth your time to go for an ACCA after a CA. 

Comprehensive Summary of ACCA After CA:

• Advantage of CA + ACCA: If you hold both ACCA and CA credentials, you have an unmatched level of expertise in India, as well as an array of career possibilities available to you globally. 
• Is it Useful to Get into ACCA after CA?: If you are interested in working for a multinational company (MNC), having knowledge about IFRS and IFRS standards, and want to gain exposure to international regulations, then pursuing 
• Difficulty in ACCA vs CA: With regard to the degree of difficulty, the majority of people find ACCA, compared to CA, to be relatively easy and present far more flexibility than does CA.
• Exceptions & Timeframe: When you pursue the ACCA designation after becoming a qualified CA, your time to completion is shortened by as much as 9 months and allows you to complete your certifications in as little as 6-18 months depending on your individual circumstances.
• Career & Salary Advancement: Individuals with both ACCA and CA generally have better positions and greater access to international opportunities and, therefore, are likely to have significantly higher pay. 
• Should I Get into ACCA?: Choose to pursue ACCA after CA if your desire is to grow internationally; CA is sufficient for the domestic Indian market and your continued growth within the Indian economy.

The Association of Chartered Certified Accountants (ACCA) is one of the most recognised ACCA accounting professional bodies worldwide. However, Chartered Accountancy (CA) is a challenging professional course governed by the Institute of Chartered Accountants of India (ICAI). In India, a CA qualification is prestigious, while choosing an ACCA qualification can broaden the career prospects of Indian Chartered Accountants. 

In this article, we will discuss the advantages and some points to consider before pursuing ACCA after CA. This blog explains not only why ACCA after CA can take your career to entirely new levels of success, but also, what’s more? You get to learn about the most frequently asked questions, like “What after CA?” Is ACCA worth it? ACCA vs CA? Is ACCA tougher than CA? ACCA exemptions for CA? List of ACCA benefits and much more.

Is an ACCA Qualification and CA a Good Combination?

If you were to combine ACCA and CA, this would make you one of the strongest qualified professionals within finance/accounting.

While completing CA provides a strong foundation on Indian standards of Accounting, Taxation and Auditing, completing ACCA sets you up with an international knowledge base which covers things such as International Financial Reporting Standards (IFRS), Global Finance, and Multinational Business Practices.

Together, these two designations will allow you to:

• Be employed by companies around the world
• Be considered by multinational companies
• Create many opportunities for your future career.

In summary, completing ACCA after completing CA will create a global finance professional.

ACCA After CA: Is It Worth It?

If you are wondering what after CA will be the perfect addition to your financial career, then ACCA is the one qualification you need. It’s definitely worth doing an ACCA after CA, more so for people targeting multinationals or seeking to travel outside for work. For that matter, the ACCA course structure is tailored to supplement and enhance the knowledge gained from the CA course in subjects like advanced performance management, taxation, and auditing, but from an international perspective.

Benefits of Doing ACCA After CA 

A list of top benefits of ACCA that a professional CA will receive after obtaining the certification is as follows:

• Global Recognition: The first and foremost reason to do ACCA after CA is global recognition; it is recognised in more than 180 countries, giving a person worldwide career opportunities.
• Enhancement of Skills: The ACCA course subjects enable one to further add to the knowledge that was gained while doing CA. It also concentrates on the strategic and global aspects of finance.
• Career Flexibility: This certification gives entry to many different roles, including financial management, consultancy, and leadership.
• Exemptions: You can get up to 9 paper exemptions in ACCA after CA, hence making it faster to complete.
• Networking Opportunities: ACCA membership opens a door for you into the worldwide network of finance professionals.

Is ACCA More Difficult Than CA?

Generally, ACCA is thought to be easier than CA.

Comparison Between 2 Courses 

• CA – Lower pass rates; more exams
• ACCA – Flexible, High pass rates, Modular
• ACCCA has a high level of real-world applications and global concepts

Ultimately, how hard you find either program depends on the amount and the effectiveness of your study, as well as your understanding. Therefore, since CA & ACCA overlap in many ways, if you have already studied for a CA, then you will likely find ACCA much easier.

Can an Indian CA Do ACCA?

Indian Chartered Accountants (CAs) find it simple to complete the Association of Chartered Certified Accountants (ACCA) programme, including the possibility of receiving up to nine exemptions from the 13 exams.

This allows ACCA to be the following:

• Quicker
• More effective
• Much more pragmatic

Can I start my ACCA exams while working on my CA Articleship?

It is feasible for several people to start their ACCA tests before getting their CA Credentials.

The positive aspects of doing this include:

• Many people will be able to take advantage of increased CAD and be placed with international companies.
• More efficient use of your time.
• Reduced need for studying following the completion of CA.   

Nonetheless, to manage your time and develop good discipline, you must be disciplined and organised.

How is ACCA Likely to Add Value if You are Already A Qualified CA?

ACCA provides value as follows:

• By teaching global accounting knowledge (IFRS)
• By helping you work with global clients and companies
• By enhancing your job prospects with large accounting firms
• By making you eligible for international job opportunities

Thus, CA and ACCA can both be used to improve your career.

ACCA Course Structure after CA

The ACCA qualification is composed of 3 levels:

• Applied Knowledge
• Applied Skills
• Strategic Professional

When you are completing your CA qualification (the same as your ACCA), you will likely receive exemptions from completing the following:

• Level 1 (Applied Knowledge)
• Level 2 (Applied Skills)

Thus, you will only need to complete the Strategic Professional level.

What is the Duration of ACCA After CA?

The duration is significantly reduced due to exemptions.

• Typical duration: 6 months to 1.5 years
• Depends on the exam attempt strategy

This makes ACCA after CA a quick and efficient qualification.

ACCA Exemptions for CA

Probably the single biggest advantage for a qualified CA looking to pursue the ACCA qualification is the benefit of exemptions. Being a qualified CA, you get exemptions for 9 papers out of the regular 13 papers of ACCA. This implies that you only need to pass 4 additional exams to qualify as an ACCA, which is a big saving in time and effort. The 4 exams needed to get ACCA certification are mentioned below:

• 1. Strategic Business Leader
• 2. Strategic Business Reporting

Optional Paper (any 2 out of 4)

• 1. Advanced Financial Management
• 2. Advanced Taxation
• 3. Advanced Audit & Assurance
• 4. Advanced Performance Management

ACCA Fees After CA

The cost of ACCA after CA includes the following:

• Registration fees
• Exemption fees
• Exam fees
• Coaching (optional)

Estimated total cost: ₹1.5 lakhs to ₹3 lakhs, depending on exemptions and coaching.

Career Opportunities After ACCA and CA

By combining these two qualifications, you have the opportunity to explore the wider scope of employment available. This allows you to enter into fields such as:

• Financial Analyst
• IFRS Professional
• Auditing Manager
• Risk Consultant
• Finance Manager

Major recruiters would include:

• All four of the largest firms (Big 4)
• Multi-national corporations (MNC)
• Worldwide Consulting Firms

This combination will greatly enhance your professional growth.

CA vs ACCA Salary: Who Earns More?

In general, a CA commands a better salary than an ACCA in India, where the title of CA carries a lot of weight. This is attributed to the fact that a CA undergoes very intensive training and, in the process, gains a lot of experience.

ACCA professionals are also paid competitive salaries, especially across global markets where ACCA is highly recognised. Due to its strong international recognition and the vast number of job opportunities in almost all diversified fields, it can result in relatively high salaries. 

Their ability to earn much can be significant, especially in transnational companies or specialised industries. However, the salary difference may depend on factors like location, experience, and industry. 

ACCA & CA Differences: Things to Consider Before Pursuing ACCA After CA

The table showcases the difference between ACCA vs CA for you to make an informed choice on what to pursue, either CA or ACCA, for your career goals. 

Conclusion 

For someone seeking employment in India, having achieved a CA designation is sufficient, as it is an established qualification. However, individuals who wish to pursue employment with multinational corporations, audit to multi-nationals globally, or specialise in international accounting standards will find that studying ACCA offers them an even greater competitive advantage.

• Determining whether to pursue ACCA or CA is not about which one has more merit; it is about what your ultimate career path entails. 
• A CA qualification provides opportunities to advance one’s career within India, while an ACCA qualification will enable opportunities for you to develop a career on a global scale. 
• When combined, both qualifications enhance your overall career development, earning potential, and professional 

FAQs on ACCA After CA

Will it be better to take ACCA during CA or after CA?

During CA: Pursuing ACCA can leverage overlapping content but may increase workload and stress. After CA: Completing CA first allows focused ACCA study and a deeper understanding, though it might delay progress.

Is a qualified CA required to undergo practical training for the ACCA?

A qualified CA is usually exempted from practical training for the ACCA if their CA work experience is adequate.

Who earns more, ACCA or CA?

As a result of their rigorous qualifications, CAs generally command better salaries in India, but ACCA professionals also earn good money, more so in international markets and specialised roles.

Is ACCA easy for CA students?

It could be a little easier for CA students compared to others because of the similarity in basic accounting principles and financial concepts. The syllabus of CA makes the student very comfortable in the areas of Financial reporting, Management accounting, and Taxation, which, to a certain extent, helps in understanding the subjects of ACCA better.

Current Role

Co-Founder & CEO at Zell Education

Education

• ACCA – Association of Chartered Certified Accountants, Finance (2011 – 2014)
• Bachelor of Commerce (BCom), Financial Markets from H.R. College Of Commerce & Economics (2010 – 2013)

Location

Mumbai, India

Expertise

ACCA Certified