Why Pursuing ACCA After CA can be a Game-Changer for Your Career
Last Update On 2nd December 2024
Duration: 7 Mins Read
You’ve just conquered the CA qualification. Now, what next? You have the skills, credibility, and recognition, but the international business arena is ever-evolving and demands more. That is where ACCA comes in. Kind of like the final piece of the puzzle that can take your career from local to global!
Pursuing ACCA after CA adds more value to your qualifications, opens doors to international opportunities across various lands, enhances your skill set, and positions you as a leader in the world of accounting and finance. So are you ready to take your career to the next level? Let’s dive in and learn why ACCA is probably that game-changer you have been looking for!
What is ACCA?
ACCA full form is Association of Chartered Certified Accountants. ACCA is a worldwide professional body for accountants. ACCA provides a qualification that is respected worldwide and pertains to financial and management accounting. ACCA India equips professionals with the appropriate skills, such as financial analysis, management consulting, and auditing, with a strong emphasis on international accounting standards.
What is CA?
Chartered Accountancy, or CA, is a prestigious accountancy designation given by the Institute of Chartered Accountants of India. CAs are well-regarded experts in accounting, auditing, taxation, and business law. This qualification enjoys high prestige in its country of origin. CA is commonly associated with top-ranking positions in finance and accounting.
Overview of ACCA after CAÂ
If you are wondering which courses after CA will be the perfect addition to your financial career then ACCA is the one qualification you need. Pursuing ACCA after your CA is worth it even more for people targeting multinational companies or abroad. For that matter, the ACCA course structure is tailored to complement and enhance the knowledge gained from the CA course. ACCA subjects are advanced performance management, taxation, and auditing, but from an international perspective.Â
Criteria | CA (Chartered Accountant) | ACCA (Association of Chartered Certified Accountants) |
Recognition | Primarily in India and a few other countries | Globally recognized in over 180 countries |
Focus Areas | Accounting, auditing, taxation | Broader focus: strategic planning, financial management, risk analysis |
Scope | India-centric, with knowledge of Indian GAAP and taxation laws | Globally recognized, focuses on IFRS, international taxation, and financial management |
Duration | 4-5 years (if cleared on the first attempt) | 3-4 years (if cleared on the first attempt) |
Exam Levels | 3 Levels (Foundation, Intermediate, Final) | 3 Levels (Applied Knowledge, Applied Skills, Strategic Professional) |
No. of Exams | 20 papers across 3 levels | 13 papers across 3 levels |
Pass Criteria | 40% in each paper, 50% aggregate in groups | 50% pass marks per paper |
Career Opportunities | Auditing, Taxation, Finance, Corporate Accounting | Finance, Accounting, Auditing, Consulting, Banking |
Eligibility | After the 12th or Graduation | After 10+2 or Graduation (with potential exemptions) |
Geographical Scope | Primarily India | Anywhere among the 180 countries |
What is ACCA and How Does it Work for an Indian Accountant?
The ACCA is a global professional qualification for accountants. It specializes in international financial reporting standards (IFRS), financial management, taxation, auditing, and business law. For an Indian accountant, it not only opens the door to global opportunities but also equips a person with skills highly valued in multinational companies.
How does ACCA work for an Indian Accountant:
Global Acceptance: ACCA has acceptance in more than 180 countries, which also enables Indian accountants to work outside India.
CA Exemptions: Indian CAs get 9 exemptions in the ACCA exams which results in a reduction of several papers to be attempted.
Diverse Career Options: The opportunities for ACCA certification holders are myriad; they can easily build careers in auditing, financial analysis, consulting, and even leadership roles in most diverse industries.
Higher Income Potential Elsewhere: Though CA holds the highest regard in India, ACCA offers better job prospects in foreign markets with higher-paid packages. A combination of both results in better pay and better opportunities as it works as a testimony of their qualifications.Â
Benefits of Choosing ACCA and after CA
A list of the top benefits of ACCA that a professional CA will receive after obtaining the certification is as follows:
Global Recognition: The main reason to do ACCA after CA is global recognition. 180+ countries recognize ACCA qualification, 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.
Combining ACCA and CA is a Good Option?
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 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.
The Complementary Nature of ACCA after CA
Obtaining the CA qualification demonstrates your proficiency in accounting, auditing, and taxation. However, the ACCA qualification further complements your existing knowledge and adds depth to your skillset. ACCA offers a comprehensive curriculum that covers areas such as financial management, business analysis, and strategic planning. By pursuing ACCA after CA, you can broaden your expertise and become a well-rounded professional capable of handling diverse accounting challenges.
Enhanced Career Prospects
ACCA Institute has a global presence, recognized and respected in over 180 countries. The qualification opens doors to a wide range of career opportunities across industries and geographical boundaries. Employers value the international recognition and rigorous training that ACCA provides, giving you a competitive edge in the job market. Whether you aspire to work in public accounting, finance, or consulting, ACCA can provide the necessary foundation for a successful career.
International Exposure and Mobility
ACCA’s global recognition not only expands your career options but also enables you to explore international opportunities. Many multinational companies require professionals with a strong understanding of international financial reporting standards (IFRS), and ACCA equips you with precisely that. With an ACCA qualification, you gain the flexibility to work in different countries, experience diverse business cultures, and develop a global mindset—an invaluable asset in today’s interconnected world.
Networking and Professional Development
ACCA offers a vast network of professionals worldwide. By pursuing the qualification, you gain access to a community of like-minded individuals, including ACCA members, affiliates, and students. Engaging with this network through conferences, seminars, and online forums can provide invaluable opportunities for knowledge-sharing, collaboration, and career growth. Furthermore, ACCA’s Continuing Professional Development (CPD) requirements ensure that you stay up-to-date with industry trends, further enhancing your professional competence.
Leadership and Business Skills
ACCA not only focuses on technical accounting knowledge but also emphasizes the development of leadership and business skills. The qualification equips you with essential competencies such as communication, critical thinking, and problem-solving. These skills are highly valued in the business world, enabling you to take on roles that require strategic decision-making, financial analysis, and effective communication with stakeholders. With ACCA, you not only become a proficient accountant but also a well-rounded business professional.
If you want to learn more about why pursuing ACCA after CA could be game changing for you, read our blog 5 Reasons Why You Should Do ACCA after CA.
ACCA Career Options after CA
Once you receive the CA qualification add ACCA to your resume. The world of finance opens exciting career opportunities. Combining deep experience in Indian accounting standards with global recognition, CA and ACCA certification can get you into top finance jobs. Here are some career options for you once you get the accreditation in both ACCA and CA:
Financial Analyst
Being a financial analyst would mean working with the data and its analysis. To prepare reports and help businesses make informed investment, budget, and expense-related decisions. You’re equipped to analyze complex financial data with your ACCA training in finance management and strategic planning and CA technical skillset.
Finance Manager
Financial managers handle the financial activities of an organization, ensuring that proper budgeting, forecasting, and adherence to regulatory standards are upheld. For a CA, this role becomes an ideal one as the extent of knowledge about local regulations. Along with, ACCA’s emphasis on global financial standards makes one suitable for such a leadership position.
Risk Manager
A risk manager identifies and mitigates financial risks in organizations. They ensure that firms do not fall under risky decisions while minimizing possible threats. ACCA covers risk management, and combining that with your CA experience means you can provide valuable insights about how potential risks could be minimized.
Internal Auditor
Internal auditors examine an organization’s internal controls and make recommendations to improve governance and business operations for better functionality.
Chief Financial Officer (CFO)
The CFO leads all the financial affairs of an organization. From planning all finances, managing risk, and supporting the CEO as a strategic partner. ACCA will develop strategic, leadership, and communication abilities; CA will add robust technical experience. All in all, you will become a strong candidate for the CFO role in any company.
Conclusion
Pursuing ACCA after CA is an intelligent move in the pursuit of further knowledge expansion and international career opportunities. You will benefit from the best of both worlds. From CA with deep knowledge of Indian standards to international recognition through ACCA. Contact Zell Education for guidance towards taking this transformative journey.
FAQs on ACCA After CA
Is ACCA tougher than CA?
Both have challenges, but CA appears to be tougher since it has been following Indian standards. ACCA covers global finance, with each differing from the other in areas of focus.
Can I shift from CA to ACCA?
Many CAs pursue ACCA for global recognition. CA holders get exemptions on exams, so completing ACCA is easier and faster.
Is ACCA better than CA?
It depends on your goals. CA is ideal for Indian standards, whereas ACCA benefits a candidate who wants to receive global exposure. A combination of both is powerful. Â
Which is highly paid CA or ACCA?
Salary will vary with location and role played. Normally, CAs get more money in India, while ACCAs can command higher pay in international markets.
Is CA and ACCA a good combination?
Yes! CA for domestic skills and ACCA for global skills open career avenues around the world.