5 Reasons Why You Should Do ACCA after CA
Last Update On 4th September 2024
Duration: 7 Mins Read
The Association of Chartered Certified Accountants is an international Chartered Accountancy course governed by the UK body. The completion of this course makes you a global Chartered Accountant. In India, the Chartered Accountant course is supposed to be the most prestigious course. Due to its difficulty level, those who manage to clear the CA exams are considered highly skilled students who can ace any accounting challenges in the professional world. However, the only problem with a CA degree is that it doesn’t prepare you for global accounting challenges and that’s where an ACCA degree steps in and gains preference.Â
Chartered Accountant is not just a qualification; it epitomizes hard work, dedication, and expertise over the years. But let me ask you this: what if I told you there’s a way to take your career to the very top? The Association of Chartered Certified Accountants, or ACCA, may just turn out to be that next step in your career that you never knew you needed.Â
With global recognition and a vast curriculum, the ACCA complements your CA qualification, opening up new avenues for career growth. Want to know why ACCA’s worth it? ACCA benefits, CA vs ACCA salary comparison, whether ACCA is tougher than CA or not, eligibility for ACCA in India, ACCA exemptions for CA, and which one is better CA or ACCA? Let us explore five reasons why pursuing an ACCA after attaining a CA would be an amazing addition to your financial future.
If you’re curious to know more about ACCA after CA, here are some of the top reasons why this dual degree can be highly beneficial for you.
ACCA After CA: Is it Worth it?
You will highly benefit from pursuing the ACCA after CA because it eventually relates to having one strong career option within the local and international accounting domain, which even opens up better opportunities. ACCA enhances professional credentials worldwide and is often followed by a raise in pay. ACCA is an additional qualification that ensures a well-rounded financial career with a proper understanding of international standards.
Benefits of Pursuing ACCA After CA
Global Recognition: ACCA has a presence in more than 180 countries, thereby offering you international career opportunities that you would not readily have with a CA qualification. This can prove extremely helpful especially if you want to work abroad or migrate.
Comprehensive Knowledge: As ACCA covers a much more significant number of international accounting standards and practices, this would complement the deep understanding of Indian regulations you gathered through CA, therefore making you much more versatile and well-rounded as a finance professional.
Faster Qualification: Being a CA, you get 9 exemptions in the ACCA program, typically requiring the passing of only 4 more papers. This enables you to add a very prestigious international qualification to your resume rather quickly.
Increased Employability: This course will bring an increase in your employability since having both qualifications—CA and ACCA—altogether increases your value before employers, especially in multi-national companies working in multiple jurisdictions with requirements for global financial reporting standards.
Better Earning Potential: You get better job opportunities and remuneration by combining CA and ACCA, and you are equipped to deal with complex issues of finance at a global level.
Networking Opportunities: The membership allows you to be a part of a global fraternity of finance professionals. The association aids in expanding the network and opening international job opportunities and collaboration.
Extensive Career Paths: With an ACCA certification, you will open doors to some of the prestige careers that exist outside the realm of traditional accounting, such as financial analysis, strategic business leadership, consulting, and senior management positions that require a broad skill set in financial management, business strategy, and leadership.
Disadvantages of Pursuing ACCA After CA
Extra Time and Effort: Though you get exemptions, pursuing an ACCA still requires time and effort to be invested which could be grueling, more so if you are working full time. Studying with professional responsibilities can be challenging to manage.
Financial Investment: Even with exemptions, studying ACCA will be a costly affair: examination fees, study materials, and tuition all combined can be colossal. However, this needs to be looked upon as an investment into one’s future. Since you have already invested in your CA qualification, adding ACCA to your credential will go a long way in boosting your career prospects-earnings that will make the financial commitment a very strategic step toward long-term success.
Limited Additional Value in India: While ACCA has international recognition, the added value it would bring to the Indian job market might not be that huge if you work only within the country. Many employers may attach more importance to just the CA qualification for local positions.
Pressure for Multiple Qualifications: If one already possesses dual qualifications, like CA and ACCA, then this would require one to update himself or herself with the CPD requirements for both, which may add to workload and stress levels.
Possible Redundancy: If you’re already established in your career and don’t intend to move overseas for work, this qualification will not make much difference to career prospects, so choosing it will be a redundant investment.
Goal misalignment: If your career goals are more towards specialization in any area of Indian finance or law, then some other qualification like CFA, CPA, or even a specialized MBA would be more worthwhile compared to ACCA.
Is ACCA with CA a Good Combination?
Yes, ACCA with CA is an awesome combination to gain a unique mixture of local and global methodic accounting knowledge. Not only does this dual qualification enhance numerous career prospects in several areas, but it also boosts a professional’s credibility and opens the doors to an array of unique opportunities, ranging across domestic and international markets. It is one powerful combination that sets you apart in the competitive finance field.
ACCA After CA: Things to Consider
Are You Planning to Work in India?
If you plan to work primarily in India, a CA qualification alone is highly respected and can open many doors. However, adding ACCA can provide an edge, especially if you’re looking to work with multinational companies or in roles that require knowledge of international accounting standards.
Are You Planning to Go Out of India?
If you’re considering working abroad, ACCA is a globally recognized qualification that can significantly boost your career prospects. It aligns well with international financial reporting standards, making it valuable if you’re planning to work outside India.
How Committed Are You to ACCA With CA?
Pursuing ACCA after CA requires commitment, as it involves additional exams and study. However, if you’re dedicated to expanding your knowledge and enhancing your credentials, the benefits can be substantial in terms of career growth and opportunities.
Other Courses that You Can Consider Instead of Doing the ACCA?
Instead of ACCA, you might consider other globally recognized qualifications such as CFA (Chartered Financial Analyst), CPA (Certified Public Accountant), or an MBA with a focus on finance. These courses also offer strong international career prospects and specialized knowledge.
Reasons to do ACCA With CA
Utilize the CA Brand
Use your background as a CA to excel in ACCA, increase your awareness of international accounting standards, and become one of the most in-demand professionals out there.
International Opportunities
ACCA qualification gives access to such global opportunities that provide versatile job roles and work in big MNCs and multinational companies.
Two Prestigious Memberships
Being a member of two prestigious bodies, namely CA and ACCA, increases your professional authenticity and also job opportunities in higher profiles and international avenues.
Focus and Skill Building
ACCA’s focused curriculum complements CA skills by moving to advanced areas such as strategic management and global financial reporting.
Application Oriented Program
The main focus in ACCA lies in the practical application of the principles embedded in accounting; therefore, all knowledge gained can be directly applied to real tasks to help develop increased problem-solving skills.
One Year, One Degree
With huge exemptions from ACCA papers, it is often possible within one year—to efficiently add a prestigious qualification to your resume.Â
Continuous Learning
 ACCA works for continuous professional development, hence assisting you to be current with the latest industry trends and continuously improving your skills.
Better Compensation
The combination of CA and ACCA often results in better compensation coupled with better prospects in a job because of employers’ recognition and value accorded to the expertise that this dual qualification brings.
ACCA Exemption for CA
Having already done your CA, you will get an exemption in many ACCA papers, therefore reducing the number of exams you are required to take and you could complete ACCA in less time.
How many papers do you need to take for ACCA after CA?
After completing CA, you are typically exempted from up to 9 of the 13 ACCA papers, leaving you with only 4 papers to complete. These are generally the Strategic Professional level exams, which focus on advanced topics like strategic business leadership and advanced financial management.
Summary of ACCA With CA
An ACCA immediately after a CA makes great strategic sense, for it combines international accounting standards-based knowledge with your existing expertise. This potent combination enhances career opportunities globally, improves earning potential, and offers a comprehensive skill set.
Is it Possible to Do ACCA During Your CA Articleship?
Yes, you can start your ACCA during your CA articleship. Students are managing both by aligning study schedules and availing of the flexible study options of ACCA. This can be quite advantageous to one in attaining both qualifications simultaneously.
Conclusion
Doing ACCA after CA is a valuable investment in terms of career horizon expansion, enhancement of expertise, and a global employability boost. This type of combination does not merely complement the existing skill set; it also opens up doors for varied opportunities within the international finance and accounting sectors
FAQ’s Why You Should Do ACCA after CA
Who earns more CA or ACCA?
Usually, CAs and ACCAs are offered competitive monetary gains; it might depend upon the location, experience, and job role. Generally, in India, a CA might have a higher entry-level salary, while ACCA can offer much better potential internationally.
ACCA course is tougher than CA, isn’t it?
The relative difficulty of ACCA compared to CA is based on individual strengths and study routines. ACCA is more based on international standards; CA is the other way around, comparing a broader range of local regulations, so ACCA and CA are a bit hard to compare directly. Although, CA is said to be more difficult than ACCA.
Why do people choose ACCA over CA?
People might get into ACCA because it is globally recognized, flexible, and provides international accounting standards; moreover, it proves to be a plus point if one goes for multinational firms or out of India for work.
Is the ACCA course the right choice for you?
If you are up for an international career and if you are prepared to keep learning throughout life, then ACCA is the answer you’ve been seeking. It is very compatible with a CA qualification, particularly if you are looking to work abroad.
