Does ACCA Qualification Add Value To An Indian Chartered Accountant?
The Association of Chartered Certified Accountants (ACCA) is a globally recognized professional accounting body which offers a qualification in accounting and finance. On the other hand, Chartered Accountancy (CA) is a professional course offered by the Institute of Chartered Accountants of India (ICAI). The ICAI is the national accounting body of India, and the CA course is highly respected and recognized in the country. This blog post aims to explore the benefits of pursuing the ACCA qualification for Indian Chartered Accountants (CA) and whether it adds value to their career prospects.
ACCA and CA Qualifications
The ACCA and CA qualifications differ in many ways, such as course structure, syllabus, and examination patterns. The CA course is structured in three levels, consisting of a Foundation course, an Intermediate course, and the final course. Each level comprises multiple papers, and candidates are required to pass each paper to move to the next level. The CA syllabus covers various subjects such as Accounting, Auditing, Taxation, Corporate Laws, and Financial Management.
In contrast, the ACCA qualification is structured in two levels – Fundamentals and Professional. The Fundamentals level comprises two modules – Knowledge and Skills, and the Professional level consists of two modules – Essentials and Options. The ACCA syllabus covers various subjects such as Financial Accounting, Corporate and Business Law, Performance Management, Taxation, and Audit and Assurance.
ACCA Exemptions for CA Students
ACCA offers various exemptions to CA students, which means that CA students can become ACCA qualified by taking fewer papers. The exemptions are based on the similarity between the CA and ACCA syllabus. For example, CA students who have passed the final level of the CA course can avail of exemptions for nine papers at the ACCA level. This means that they only need to pass five papers to become ACCA qualified.
Must watch this video for more details :
Benefits of Pursuing ACCA with CA
International Recognition: One of the significant benefits of pursuing the ACCA qualification is its international recognition. ACCA is recognized and respected in more than 180 countries globally, making it an excellent choice for Indian CAs who wish to work overseas. The ACCA qualification offers them the opportunity to work in multinational companies and gain exposure to different accounting practices and cultures.
Better Career Prospects: ACCA qualification offers better career prospects and job opportunities to Indian CAs. ACCA qualified professionals are highly sought after by employers, especially in industries such as banking, finance, and consulting. ACCA qualified professionals also command higher salaries than their non-ACCA counterparts.
Greater Flexibility: Pursuing the ACCA qualification offers greater flexibility to Indian CAs. The ACCA qualification can be pursued alongside their CA course, which means that they can complete both qualifications concurrently. This provides them with an opportunity to expand their skillset and increase their employability.
Additional Knowledge and Skills: Pursuing the ACCA qualification provides Indian CAs with additional knowledge and skills in areas such as International Financial Reporting Standards (IFRS), taxation, and audit and assurance. This enhances their professional expertise and increases their value to employers.
Network and Community: Pursuing the ACCA qualification offers Indian CAs the opportunity to join a global network and community of professionals. This network provides them with access to job opportunities, training, and development programs, and a platform to exchange ideas and best practices with fellow professionals.
For more details, Read this blog 5 Reasons Why You Should Do ACCA after CA
In conclusion, both the Indian Chartered Accountancy and ACCA qualification have their unique advantages and limitations. However, pursuing an ACCA qualification can certainly add value to Indian Chartered Accountants by enhancing their knowledge, skills, and global perspective, and opening up new career opportunities in India and abroad. The ACCA qualification is recognized and respected worldwide, making it a valuable asset for anyone seeking a successful career in finance and accounting. So, if you are an Indian Chartered Accountant looking to enhance your professional development, pursuing an ACCA qualification could be a smart choice.If you want to know more about ACCA course details reach out to us at Zell Education, and we’d be happy to counsel you. You can also fill in the form on the right-hand side and someone from our team will contact you.
