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 in for an ACCA qualification. Here’s the spoiler: Of course, it is! If you combine CA with an ACCA qualification, that does not just turn you into a dual-qualified professional but a global finance expert. 

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. Here, in this article, we will discuss the advantages and some points to think about before doing ACCA after CA.

This blog explains not only why ACCA after CA can take your career to entirely new levels of success. What’s more? You get to learn about the most frequently asked questions like – What after CA? Is ACCA worth it? CA vs ACCA salary? 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?

The short answer is YES! Bringing the ACCA and the CA together is not merely another addition of qualification, but builds a formidable skill set in terms of local and global finance. While highly regarded locally, CA is just a credential in India and UAE, and the ACCA opens doors to the world and exposes one to international markets and opportunities. This powerful combination builds your skills in the domain of financial management, sharpens your strategic decision-making capabilities, and enhances your insights into global business practices. Thus, you will become a more flexible and highly demanded specialist in the financial sphere.

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 your 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 recognized in more than 180 countries, giving a person worldwide career opportunities.

Enhancement of Skills: The syllabus of the ACCA enables 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 as a CA, hence making it faster to complete.

Networking Opportunities: ACCA membership opens a door for you into the worldwide network of finance professionals.

Disadvantages of Doing ACCA After CA 

Cost: This additional qualification course of the ACCA comes with added costs that may matter to some.

Time Commitment: Even when you get exemptions, the remaining examinations take time and preparation, and this could be tough if you are already working.

Redundancy for Some Roles: In case you happen to stay in a purely Indian context, additional qualifications might not make much of a difference in your career.

Is ACCA Tougher Than CA?

The difficulty of ACCA (Association of Chartered Certified Accountants) compared to CA (Chartered Accountancy) often depends on individual perspectives and career goals.

With many CA professionals in India, the course is generally considered tougher in terms of its extensive coverage relating to accounting, auditing, and taxation.

On the other hand, ACCA certainly sees the matter from an international point of view and is very flexible for studying at the rate one finds most comfortable, with a great variance in electives.

Both the ACCA and the CA have their challenges. For instance, Indian CA students are burdened by the requirement of passing several levels of exams and getting lots of practical training done, which many of them find to be quite hectic. Though difficult, the ACCA, on the other hand, follows a different approach by focusing internationally and taking on more subjects as opposed to the CA.

Is It Possible To Pursue ACCA Along With Your CA Article ship In India?

Is ACCA possible with an Indian CA Article ship? This means you can get some work experience while working towards another qualification. Balancing the two commitments, however, is a matter of effective time management.

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

If you are already a CA, you hold a qualification that has a strong position in the world of Indian accounting and finance. ACCA opens the gates internationally, where IFRS becomes part of the practices, not to mention stronger insights into worldwide practices. This dual qualification is particularly valuable if you have the ambition of working in multinational companies or if you are seriously thinking of starting a career abroad. This will also make you more versatile and more attractive to leadership roles within companies since ACCA will equip you with the ability for strategic management.

ACCA Exemptions for CA

Probably the single biggest advantage for a qualified CA looking to pursue 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 ACCA; which is a big saving in time and effort. The 4 exams needed in order 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

CA vs ACCA Salary: Who Earns More?

In general, 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 recognized. 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 specialized 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 above table showcases the difference between ACCA and CA for you to make an informed choice on what to pursue or which is better CA or ACCA for your career goals. 

Summary of ACCA After CA

Doing an ACCA after CA can turn out to be very strategic on the part of professionals looking to broaden their career horizons across the globe. The completion period will not be long with exemptions applicable for CA-qualified professionals. The ACCA qualification adds a lot of value in terms of enhancing knowledge of international standards with a global perspective and is thus ideal for those targeting roles in multinational companies or working abroad.

FAQ’s on Does the ACCA qualification add value to a 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 deeper understanding, though it might delay progress.

Is a qualified CA required to undergo practical training of ACCA?

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

Who earns more ACCA or CA?

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

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.

Afshan Zia

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