Finance and accounting are some of the fields on this planet, that have survived several calamities and still continue to grow at a fast pace. With a lot of new options emerging every year in the field of accountancy and finance, it is hard for young students to decide what they want to study. With courses like Chartered Financial Analyst (CFA), one can work with investments, financial markets (equity, derivatives, and debts), and portfolio management. ACCA, on the other hand, enables you to work in the field of accounting, auditing, financial management, taxation, etc.
To find out in detail about the differences between ACCA Vs. CFA and ACCA Vs. CA, continue to read more.
ACCA Vs. CFA: Which Course Is the Right One For You
To clear up the confusion and make an informed decision, one has to look into the difference and the similarities in ACCA vs CFA While they are both excellent courses – recognized internationally, they differ in the scope and work profiles. ACCA is the internationally recognizable alternative to completing CA in India. Both ACCA and CFA have similar course lengths i. e. 24 to 36 months, and similar fresher salaries i. e. 4 to 6 lacs per annum.
After completing an ACCA course in Mumbai, one can work in the future in sectors such as Risk Advisory, Accounting Advisory (IFRS), Valuations, Internal Audit, Mergers & Acquisitions, International Taxation, Transfer Pricing, Assurance, Forensic Auditing, Financial Reporting, etc. completing ACCA course means one learns about accounting, taxation, costing, auditing, and financial management. The majority of candidates take ACCA courses due to their flexibility in duration, the high exposure and value addition in India.
If one completes a course similar to CFA, they are equipped to work in the finance sector at profiles such as financial portfolio management, investments, and equity, debts, wealth management, derivatives, etc. As a CFA, one can make a comfortable living for themselves as a Portfolio Manager, Wealth Manager, Hedge Fund Manager, Trader or Dealer in Derivatives, Investment Banker, Equity Research Analyst, and through the currency Markets, etc.
To know more about ACCA Vs. CFA, read our detailed article on ACCA vs CFA: Which Should You Study?
ACCA Vs. CA: Which Course Is the Right One For You
Completing an ACCA course in Delhi or Mumbai will get you a huge advantage over CA. After the inclusion of a very strong business paper, the students completing ACCA have a huge benefit. The great thing about this course is that you can join the course right after high school. You can start preparing for the papers right after the 11th standard. Even if you feel confused about which track you want to pursue, you can start with the ACCA during your bachelor’s, and after completing it, if you change your mind, you can start working on your CFA papers.
The companies such as the Big 4, namely KPMG, Deloitte, PwC, EY, and other MNCs such as Grant Thornton, BDO, etc., are all hiring workers with successful ACCA certificate holders. Most of these companies consider ACCA as equivalent to CA in terms of profile, salary, designation, work format, etc. Recognized worldwide and highly sought after, the CFA candidates are recruited by the time they complete the Level 1 examination. Big international companies such as JP Morgan, Goldman Sachs, Morgan Stanley, Citibank, and Indian firms such as Motilal Oswal, Anand Rathi, etc., hire CFAs at all profiles and all levels
The ACCA qualification is recognized in over 180 countries including Canada, Singapore, and Australia. If you’ve made the decision to become a global CA and are contemplating your next move, we can help you take a step forward. Check out our Association of Chartered Certified Accountants (ACCA) course to learn more.
To know more about ACCA Vs. CA, read our detailed article on CA vs ACCA – Which Course is Better? Detailed Comparison
Is ACCA equivalent to CA?
Yes, ACCA is equivalent to CA in terms of learning format. However, in terms of ACCA has a wider scope and is accepted in 180+ countries while Indian CA is valid in Australia, Bahrain, Canada, Djibouti, Dubai, Ireland, U.K.
ACCA Vs CFA, which course pays better?
The starting salary of a CFA is than that of an ACCA with a of 15 to 18 LPA. However this largely depends on the profession, location and the company you choose to work in.
ACCA Vs CA, which course is popular globally?
ACCA is more popular globally since it’s accepted in multiple countries.