Detailed Comparison On ACCA vs CA vs CPA | Which Is Best For You? Understand From Accounting Experts

Accountants are the backbone of a business, playing a critical role in shaping its financial health and guiding strategic decisions. Their responsibilities are not constrained to keeping track of a company’s financial transactions, it also includes ensuring their financial records are compliant with the country’s legal requirements, making informed judgments regarding growth strategies, analysing risks related to both current or future financial position and much more.

Accountancy is one of the most lucrative jobs in finance and those with the authority to sign financial audits are held in high regard. If you’re aiming to build credibility and accelerate your career, obtaining a professional accountancy certificate is a pivotal step.

The next step is choosing which of the three qualifications — ACCA (Association of Chartered Certified Accountant),  CA (Chartered Accountant), CPA (Certified Public Accountant), best suits your needs.

In this blog, we’ll first provide a comprehensive overview of each certification before conducting a detailed comparison to help you choose the path that best fits your ambitions.

What Is ACCA – Association of Chartered Certified Accountant

ACCA is a globally recognized professional accountancy body, with recognition in over 180 countries. They have a reputation of producing over 250,000 skilled accounting experts, equipped in international accounting and finance. Their comprehensive framework covers a wide array of topics, including financial reporting, taxation, audit, and business law.

ACCA members are known for their versatility, able to operate across jurisdictions thanks to its focus on global standards. Highly valued by employers worldwide, this qualification is ideal for those seeking international career opportunities and a broad understanding of finance.

Also Read – Becoming an ACCA – Essential Steps & Tips By Experts

Understanding CA – Chartered Accountant

The CA designation, administered by the Institute of Chartered Accountants of India (ICAI), is highly respected in India. They are experts in financial reporting, auditing, taxation, and business advisory.

The CA course is rigorous and often more region-specific, focusing on local laws and regulations. However, CAs hold significant authority in the auditing domain, and their certification grants them the legal right to conduct statutory audits. This makes the CA qualification an excellent choice for individuals looking to specialise deeply in accountancy and taxation

Confused between ACCA vs CA vs CPA? Want Proschool Expert’s Advice?

Overview Of The US CPA – Certified Public Accountant

The US CPA is one of the most sought-after qualifications in the United States, administered by the American Institute of Certified Public Accountants (AICPA). CPAs are experts in U.S. Generally Accepted Accounting Principles (GAAP) and taxation, and they possess the legal authority to audit and attest financial statements in the U.S.

The CPA credential is also recognized globally, particularly in multinational companies and firms dealing with U.S. based entities. While it focuses on U.S. regulations, CPAs are increasingly valued internationally for their expertise in complex financial reporting and tax matters. This makes the CPA an ideal choice for those aiming for a career in the U.S.

Technically, all three of these qualifications make you an accountancy professional who has the authority to sign financial audits. A key distinction lies in the jurisdiction where your audit authority is recognized. An Indian CA is authorised to sign audits within India, an ACCA is recognized in the UK and over 180 countries globally, including Singapore and Dubai, while a CPA holds audit authority in the USA.

For students, while these distinctions are important, they are not the only factors to consider. Below are other core comparisons between the three.

Also Read – How to Become a US CPA in India?

ACCA vs CA vs CPA – Let’s Compare Them

In terms of career, all three will help realise your ambitions of holding a position of authority, starting your own business/ consulting firm with the slight distinction of the region where you practise.

ACCA members, noticeable, quickly take on managerial positions promptly after earning their membership. If your goal is to work in the Big 4 or enter the global financial sector, ACCA is the ideal choice. Their flexible structure accommodates personal commitments and consideration of entrant’s prior qualifications considerably reduces the completion time. Costlier in comparison to the other two, ACCA membership provides significant returns on investment.

CA is a sound decision for those seeking authoritative positions and substantial earnings within the Indian market. It’s considered one of the hardest examinations and recommended for those who can commit to pursuing it full time. It costs the least but takes the longest to complete due to its vast syllabus. The journey to become a CA is gruelling but the rewards are highly worthwhile.

CPA takes the shortest time to complete but is equally challenging. Like the other two, the time and money invested in becoming a CPA yield significant financial returns. Suitable if you have sights on moving to the U.S. or working in U.S. focused firms. Although similar in cost to ACCA, CPA’s shorter duration requires upfront payment, unlike ACCA, where costs can be spread out over a longer period.

Also Read – Top 5 Foreign Accounting Courses That Can Make You Rich and Respectable!

Skills Acquired In ACCA vs CA vs US CPA

Let’s break down the skills you’ll need to excel in these qualifications because, let’s be honest, passing the exams is only half the battle. The real game is in mastering the skills that make you stand out in the finance world.

Skills Acquired In ACCA Qualification

• Technical Expertise:
  • Proficiency in IFRS (International Financial Reporting Standards), global tax laws, and business law.
  • Ability to handle financial reporting, risk management, and investment appraisal.
• Soft Skills:
  • Strong communication to manage global clients.
  • Multitasking and problem-solving in dynamic international environments.
• Unique Skill Set:
  • Versatility in working across 180+ countries, making ACCAs the globetrotters of the accounting world.

Skills Acquired In CA Qualification

• Technical Expertise:
  • In-depth knowledge of Indian tax laws, auditing, and financial management.
  • Mastery in statutory compliance under Indian regulations like GST, Income Tax, and Company Law.
• Soft Skills:
  • Precision and attention to detail (because even one wrong zero can cost crores).
  • High stress tolerance for long working hours and audit deadlines.
• Unique Skill Set:
  • Legal authority to sign statutory audits in India.

Skills Acquired In US CPA

• Technical Expertise:
  • Expertise in US GAAP (Generally Accepted Accounting Principles) and US tax laws.
  • Advanced skills in auditing, financial planning, and analysis of multinational corporations.
• Soft Skills:
  • Strategic thinking to solve complex accounting problems.
  • Ability to adapt to global finance standards while focusing on U.S. regulations.
• Unique Skill Set:
  • High demand in Big 4 firms and MNCs dealing with U.S. clients or subsidiaries.

Let’s Quickly Compare Each Of Their Skills

Also Read – The Value of ACCA After CA – Unlock Global Opportunities

Challenges Faced by ACCAs, CAs, and US CPAs

Challenges for ACCAs

• High Costs: With fees ranging from ₹3–5 lakhs, the investment can feel steep for many Indian students.
• Global Competition: While ACCA opens international doors, competing in global markets can be daunting.
• Limited Recognition in India: ACCAs don’t have the same authority as CAs when it comes to Indian statutory audits.

Challenges for CAs

• Tough Exam Structure: Let’s face it, the CA exam is a beast. The pass rate is around 10-15% for all levels combined, making it one of the hardest qualifications.
• Time Commitment: With articleship and exam prep, the process takes around 4-5 years (or more, depending on how many attempts it takes).
• Work Pressure: CAs often face long hours and high stress, especially during audit and tax seasons.

Challenges for US CPAs

• Geographical Constraints: The U.S.-focused curriculum limits opportunities in regions where GAAP isn’t applicable.
• High Upfront Costs: Fees for CPA exams and related training can go up to ₹4 lakhs.
• Eligibility Hurdles: Indian students must meet the 120-150 credit hours requirement, which often necessitates additional qualifications like an M.Com.

Let’s Quickly Compare Challenges Of Each Of The Qualifications

Also Read – 5 ways an ACCA qualification can lead to global opportunities

Career Progression of Each Qualification In India

Career Progression for ACCA

• Entry-Level Roles (₹4-8 LPA):
  • Financial Analyst
  • Audit Associate
• Mid-Level Roles (₹8-15 LPA):
  • Management Accountant
  • Finance Manager
• Top-Level Roles (₹30-50 LPA):
  • Chief Financial Officer (CFO) in global companies
  • Senior Partner in Big 4 firms

Career Progression for CA

• Entry-Level Roles (₹6-10 LPA):
  • Tax Consultant
  • Internal Auditor
• Mid-Level Roles (₹12-25 LPA):
  • Financial Controller
  • Risk Manager
• Top-Level Roles (₹40-70 LPA):
  • CFO or Finance Head in Indian conglomerates
  • Partner in CA firms

Career Progression for US CPA

• Entry-Level Roles (₹7-12 LPA):
  • Auditor in Big 4 firms
  • Tax Associate in MNCs
• Mid-Level Roles (₹15-25 LPA):
  • Financial Auditor
  • Forensic Accountant
• Top-Level Roles (₹50-80 LPA):
  • Global Finance Director
  • Vice President of Finance

A Quick Recap Of Career Progression In India

Also Read – How Much Does a CPA Earn in the US, India & Big 4?

Which qualification is best for you?

• CA is best suited for students aiming to set up their own CA practice in India or work in top positions within Indian firms. The qualification’s in-depth focus on Indian laws and financial regulations makes it a valuable asset for those seeking expertise in the local market.

• ACCA is ideal for students who want a career in accounting but prefer not to pursue CA. It’s especially advantageous for those looking to work in international markets, such as the UK, Dubai, Australia, or Singapore, or for those who prefer not to set up their own practice in India. With its recognition in over 180 countries, ACCA offers global mobility and flexibility.

• CPA is designed for individuals planning to pursue an accounting career in the U.S. or within the U.S. focused firms. The CPA credential is highly regarded in the U.S. market, and for those intending to work in U.S. accounting, tax, and audit, it’s the most appropriate choice.

The certification you choose should align with your career goals and the geographical focus of your ambitions. While factors such as cost, study time, duration, and difficulty are important, they should be secondary considerations.

Remember, your decision should primarily be driven by where you see yourself thriving professionally. Ultimately, your personal strengths can be enhanced through the support of learning programs and coaching classes, helping you overcome any challenges along the way.

How can Proschool help with your journey in ACCA and CPA

If you are concerned about clearing ACCA or CPA exams it is most recommended to take help from learning providers like Proschool. Their programs are specifically designed to offer a comprehensive study of the ACCA/CPA syllabus, while also building your soft skills and expertise in financial modelling.

With industry-leading instructors who prioritise deep understanding over rote learning, you can be assured you have all the help you need in getting your certification and be prepared for your future.

Here’s what you’ll gain with Proschool

• Access to 15+ coaching centres in major cities like Mumbai, Delhi, Kochi, Kolkata, Bangalore, and Pune, along with the option for online classes.
• A refund on your ACCA registration fees when you enrol with us.
• Over 600 practice questions per subject, ensuring you’re fully prepared for every exam.
• Personalised support through doubt-clearing sessions and focused guidance from experienced faculty.
• Recruitment assistance from our placement team, including interview preparation and resume writing tips.
• Exclusive access to Proschool’s placement portal with thousands of job opportunities waiting for you.

Conclusion

Deciding between ACCA, CA, and CPA comes down to your career goals, where you want to work, and the level of flexibility you seek. CA is your go-to option if you want to specialise in Indian financial laws and practice locally, while ACCA and CPA are perfect for those eyeing global opportunities. No matter which path you choose, the investment in these qualifications will pay off, with rewarding careers awaiting you in top firms around the world.

FAQ

1. What is the difference between ACCA, CA & CPA?

ACCA is an international qualification recognized in over 180 countries, focusing on global accounting standards. CA is an India-specific qualification focusing on Indian tax, law, and financial practices. CPA is a U.S. focused qualification covering U.S. GAAP and tax laws.

2. Which qualification is more globally recognized: ACCA, CA or CPA?

ACCA is the most globally recognized, accepted in more than 180 countries. CPA is well-recognized in the U.S. and its subsidiaries, while CA holds recognition predominantly within India.

3. Which is harder – ACCA, CA or CPA?

CA is widely regarded as the toughest due to its extensive syllabus and multiple levels of exams. ACCA and CPA are also challenging but more flexible in terms of exam structure and completion timelines.

4. Is it possible to pursue both CA and ACCA?

Yes, many students pursue both qualifications. CA Inter pass candidates and those with sufficient marks in the final CA exams can apply for ACCA exemptions, streamlining the path for CA professionals to earn ACCA certification. If you plan to pursue both qualifications simultaneously, some subjects may overlap, and you might be able to count your CA articleship towards ACCA work experience. However, be prepared for a significant increase in workload.

5. Can I pursue ACCA after completing CPA or CA?

Yes, you can pursue ACCA after completing CPA or CA. Furthermore, they can help you apply for exemptions, reducing the time and exams required to complete ACCA.