If you are interested in accounting and want to pursue a course in the same field, you must have heard about ACCA and CPA. The CPA and ACCA courses are growing in popularity, and despite their differences, both provide excellent employment prospects. Anyone interested in taking one of these courses hopes to succeed in the field of accounting.

If you’re confused between ACCA and CPA,  we are here to help you solve your dilemma. Let us compare both the courses so that you can decide wisely which course to pursue.

What exactly are ACCA and CPA courses?- An Introduction

 Both ACCA (Association of Chartered Certified Accountants) and CPA (Certified Public Accountant) provide highly certified credentials for anyone interested in pursuing a career in accounting. The fundamental distinction between the two courses is that  CPA is US based, focusing on the accounting standards known as US GAAP and ACCA is UK based focusing on accounting standards known as IFRS. Both focus on all aspects of accounting

The Association of Chartered Certified Accountants degree is a wise way to start a career in accounting and finance since it is an internationally recognized course with updated/industry-relevant information. Certified Public Accountants monitor a company’s financial planning, examine financial data, audit financial reports, and offer strategic, data-driven suggestions about strategic planning, budgeting, and fraud protection depending on the company’s financial situation. A Certified Public Accountant might work for a company as an individual or as part of a public accounting firm.

The ACCA and the CPA are highly qualified accounting courses created for individuals who want to work in accounting, taxation, auditing, or finance.

ACCA or CPA- A Comparison

How is the eligibility criteria for both the courses different from each other?

To pursue the ACCA course, you need to fulfil any of the below-given requirements:

  • Completion of class 10th from a recognized board
  • 60% aggregate in English and Mathematics in class 12th
  • Graduation from a recognized university

A CA final year student is also eligible to pursue the course. To become a CPA-certified professional, you must have the necessary education and experience, preferably with accounting credentials. The following are some mandatory requirements:

  • Bachelor’s degree or its equivalent from a recognised university
  • 150 credit hours

Which course will provide a better future scope?

The Association of Chartered Certified Accountants (ACCA) qualification requires a professional work experience of 3 years after which ACCAs can either continue with their previous jobs or pursue corporate careers, private consultancy, and other opportunities. Companies are becoming aware of the ACCA course, its reputation, and its importance as a global standard. After completing the ACCA course, you can get a job at some of the top MNCs like Tata, Barclay’s, Standard Chartered, Grant Thornton, and many others. With a solid academic background and relevant work experience, you may expect to receive rewarding job offers as soon as you finish the course. Your skills also determine the number of job offers.

The future career scope after getting the CPA designation is quite promising. CPAs have no trouble with international and financial accounting and corporate governance. Different subsidiaries of multinational corporations in India are known to engage CPAs. Certified Public Accountants are employed by Indian enterprises that have raised funding from the US financial markets. CPAs have also been known to work for financial services firms. They are employed for various positions like Financial Analysts, Staff Accountants, and CFOs in finance-based companies and other businesses.

Field of Work

The field of work for CPAs is licensing to provide Public Accounting Services. These specialist degree holders assist people, small and mid-size businesses, and multinational corporations to preserve the law and manage the finances of the company. A CPA can pursue additional fields of finance, such as financial control, accounting, and financial analysis, in addition to auditing and taxes.

Job responsibilities of an ACCA include inspection and accounting services for the public and commercial sectors, among other things. Before the inspection, they must pass the certifications, apart from auditing, taxation, and so forth. ACCA may establish a global footprint in financial control, accounting, and financial analysis, among others. 

Keeping in mind the features mentioned above of the course and the differentiation between them, you need to decide wisely which course suits your skills and interests and can provide you with a great career boost. You can contact industry professionals if you are interested in pursuing any of these courses. Platforms like Zell Education can provide you with the necessary assistance in determining which course is ideal for you.

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 advance your portfolio and build professional skills, try Zell Education’s interactive courses that offer flexible training timings. Get in touch at +91 7208885600 or email us at reachus@zelleducation.com.

How much does a CPA earn in India?

On average, a Certified Public Accountant earns INR 6.93 lpa. The salary of a Certified Public Accountant increases with the advancement of skillset and work experience.

What is the pass rate for the CPA exam?

The average pass percentage for the Accountant test is roughly 50%. The four components of the CPA test have pass rates ranging from 45% to 63%.

Is ACCA tough to crack for average students?

ACCA, just like any other credible certification, requires some effort to crack. However, if you’re genuinely interested in the subjects it takes you through, it’ll be fairly easy for you to clear, considering you make time to revise the concepts on a regular basis. It is recommended that you take support from your seniors and faculty through different online forums.

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