Benefits of Combining CA & ACCA | Zell Education

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      Benefits Of Combining Your CA Qualification with ACCA Certification

      Last Update On 2nd December 2024
      Duration: 6 Mins Read

      Imagine CA and ACCA as two superpower qualifications. You have worked hard, pulling many late nights, to become a Chartered Accountant. Then why not go the extra mile? It’s more than an upgrade in your CA; it is like adding another layer to your career and unlocking a world of possibilities worldwide. You will master the numbers, but along with that, you can also earn a passport to international finance roles. So, let’s discuss how the ACCA+CA combo can be a game-changer in your future!

      ACCA and CA

      ACCA and CA

      What is ACCA?

      The Association of Chartered Certified Accountants is an international accounting qualification, which started in the UK, aiming to arm professionals with international accounting, finance, and management skills. It’s highly regarded in more than 180 countries around the world, making it perfect for professionals who want to pursue careers working around the globe with global finance.

      What is CA?

      Chartered Accountancy (CA) is one of the top qualifications in India, focusing on accounting, auditing, and taxation. One has to gain the CA qualification for high-level expertise in terms of careers in finance and accounting within India which is governed by the Institute of Chartered Accountants of India (ICAI).

      Is ACCA a Good Choice After CA?

      The following are some of the reasons why should you pursue ACCA after CA:

      Global Acceptance: ACCA is accepted in over 180 countries, and this allows you to transcend the country’s boundary with a potential professional network.

      More Job Opportunities: ACCA offers global opportunities that open doors to premium companies and high-paid work opportunities in India and abroad.

      Advanced Financial Knowledge: Though CA deals with only local accounting and auditing standards, ACCA introduces the international financial regulations and practices that make a well-rounded professional.

      Fast completion: The CA professional can complete the ACCA qualification within a period of 12-18 months with as many as 9 exemptions available.

      Higher Earning Potential: With dual qualifications, you have the possibility of acquiring better jobs with better payback prospects in the domestic as well as international markets.

      Power of Combining CA and ACCA Qualifications

      The following are some of the benefits of combining CA and ACCA qualifications: 

      More Versatility: With the combination of Indian accounting expertise because of your CA qualifications and international financial expertise through ACCA, you would be more versatile, a high-value competent professional.

      Dual Advantage: You have a dual advantage over competitors who are with only one qualification. You are fully equipped with the ability to understand the depth of Indian as well as international finance.

      Greater Professional Mobility: Whether you are working at present with multinational firms or you aspire to hold a global position, the combination readies you for career development in practically any industry.

      Expands Leadership Opportunity: ACCA provides you with specific knowledge in strategic management, corporate governance, and risk management, so it prepares you more for leading positions.

      Network: ACCA has indeed made strong relationships among professionals around the world, which creates both valuable contact and global opportunities for your work.

      Broadening Your Expertise and Global Recognition 

      CA in combination with ACCA increases expertise and global recognition, hence leading to an opening of many international job opportunities in financial hubs like London, Singapore, and the Middle East. This dual qualification not only facilitates the crossing of borders but also creates places for multinational companies and puts the individual one step forward in leading companies like PwC, EY, and Deloitte. 

      While CA focuses more on Indian laws, ACCA expands to the varied aspects of financial discipline, which naturally encompasses international taxation and reporting. This balance gives a fuller and more integrated understanding of global finance. Being the best combination, it enhances your career by providing you with the best of both worlds-local expertise and international insight for success in an interconnected financial world.

      Advantages for ACCA after CA

      The following are the advantages for CA professionals who are pursuing ACCA:

      By adding ACCA to your CA qualification, you acquire a wide range of job opportunities across global finance, consulting, and multinational corporations. Your skill set now becomes versatile due to the global appeal of ACCA. You are therefore well-prepared for accelerated development.

      Networking and Professional Connections

      ACCA forms part of a global network of 241,000 members across 180 countries. This will give you a wider professional network and interact with peers, seniors, and even potential employers all across the globe.

      Continuous Professional Development

      Continuous learning is believed in by ACCA. Your continuous professional development needs to keep you abreast of industry practice, skills and regulatory information so that you can remain competitive during your career as a working professional.

      Recognition Around the World

      Though CA is highly recognized in India, ACCA is globally accepted. Hence, it becomes easier to follow up career opportunities abroad. Your qualification is valued by top employers worldwide with ACCA making it easier to cross borders in your profession.

      Dual Qualification Earning Potential 

      Double qualification in CA and ACCA enhances one’s income-earning capability because employers value a candidate who is doubly qualified and equipped with diverse skills. Employers can pay more for the remuneration of such a diverse skill, especially where the job crosses the boundary of local and global finance.

      Journey to Expedited Learning

      If you are a CA professional than you receive significant exemptions when obtaining ACCA, which means you complete the qualification faster. That moves you to a world-recognised dual qualification even quicker, instead of having to start fresh.

      Developing Advanced Financial Skills and Strategic Vision

      The ACCA will equip you with specialized financial and strategic skills, which go well beyond the competency of an accounting professional. You will study international taxation, financial management, and corporate strategy, all the top skills for leadership positions in a globally expanding business world.

      ACCA After CA – Is it Worth it?

      Pursuing ACCA after becoming a Chartered Accountant happens to be a strategic career move for those who aspire to look forward beyond the Indian horizons. ACCA’s international reputation will complement CA’s strong foundations in Indian accounting and finance, opening doors for international exposure, access to a wide variety of financial disciplines, and eligibility to apply for multinational corporations. 

      With this dual qualification, one stands out in the competitive job market and would be a good reason for CA professionals to go for it to enhance their expertise and career prospects across the world.

      ACCA After CA – Pros of Pursuing

      Global Acceptance: International acceptance with mobility in the international markets, if offered by the ACCA is provided to the CA professional.

      Broader Skill Set: This allows one to be exposed to a wider range of skills, such as those concerning international finance topics like taxation, reporting, and strategic management.

      Career Development: The dual qualification makes an employee eligible for career advancement to senior positions, particularly within the best global firms and multinational companies.

      Increased Earning Ability: A dual qualification can lead to an increase in salary as it will add testimony to the depth of accounting and finance know-how of the candidate.

      Accelerated Route with Exemptions: CA members can exempt up to nine ACCA exams, which allows them to achieve this qualification much faster than other candidates.

      ACCA After CA – Cons of Pursuing

      The following are some of the cons of pursuing ACCA after CA:

      Time and Cost Investment: ACCA offers exemptions but still requires much time and resources for preparations, fees for the examinations, etc.

      Overlap in Knowledge: A CA professional might face a situation wherein the study content of ACCA is repetitive and redundant, primarily in core accounting areas.

      Additional Requirements: ACCA may not be enough to practice in certain countries; further local credentials are thus often required.

      No International Placement is Ensured: ACCA only opens doors; it all depends on your experience, skills, and networking.

      Do ACCA and CA Qualifications Go Well Together?

      Absolutely! CA and ACCA qualifications are complementary because both bring an in-depth understanding of Indian accounting principles together with global financial knowledge. 

      These two would ultimately combine all the experience enabling professionals to navigate both local and international financial landscapes. It would therefore make professionals highly adaptable towards multinational firms and highly valuable. 

      Put together, CA and ACCA qualifications offer a wide array of skills, hence ideal for any leading cross-border assignments in an interconnected economy.

      Conclusion 

      To pursue ACCA course after CA qualification is a real game-changer. This means getting the best of both worlds-strong expertise in Indian finance and a globally recognized skill set. Pursuing ACCA is an efficient means of expanding career horizons and boosting earning potential along with international opportunities for CA professionals especially due to the exemptions. For those seeking to thrive in a monetary landscape, the CA combined with ACCA can be the best way to succeed.

      FAQs

      How tough is ACCA compared to CA?

      CA is tougher than ACCA because of Indian-specific laws and the depth related to auditing and taxation.

      Does ACCA take a long time to complete?

      No, CA professionals can finish ACCA in as short a time as 9-12 months for which exemptions are available because of their prior knowledge.

      Is it better to take ACCA during CA or after CA?

      It is easier to take the ACCA course after the CA since one can make use of the knowledge obtained with the CA and focus on the topics of global finance while doing ACCA.

      Can ACCA be valued in Canada?

      ACCA is recognized in Canada, and its members receive recognition through agreements which the accounting bodies of Canada have formed with them.

       

      Partham Barot is an ACCA-certified professional. showcasing his expertise in finance and accountancy. he’s revolutionising education by focusing on practical, real-world skills. Partham’s achievements underscore his commitment to elevating educational standards and empowering the next generation of professionals.
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