ACCA vs CPA – Eligibility, Difficulty & 9 Other Differences
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Choosing the right accounting profession can have a significant impact on your career. If you want to pursue a global career in accounting, the Association of Chartered Accoutants (ACCA) and Certified Public Accountant (CPA) are the two globally recognised qualifications.
Who earns more ACCA or CPA? ACCA vs CPA – which is better? While ACCA makes you a global chartered accountant, US CPA is a cornerstone to become Chartered Accountant of the US. This blog will throw light on key differences between ACCA and CPA.
What is ACCA?
The Association of Chartered Certified Accountants (ACCA) is the world’s largest and oldest accounting association formed in UK in 1904. ACCA is a global accounting qualification recognised in more than 180 countries. ACCA is one of the prestigious qualifications in the field of international finance and accounting. An ACCA candidate is consummate in accounting skills like financial accounting, management accounting, business ethics, auditing and financial accounting.
After completing this course, the ACCA body offers you the Chartered Certified Accounting designation.
What is CPA?
CPA stands for Certified Public Accountant, another globally recognised accounting profession provided by the American Institute of Certified Public Accountants (AICPA). Anyone wishing to work in the US in the accounting field must acquire the CPA qualification.
CPAs are proficient in financial accounting and reporting, auditing and attestation, taxation, corporate governance, financial and operation management, and strategic planning. CPAs are also well-versed with Generally Accepted Accounting Principles, commonly known as GAAP. Students who have already completed US CPA can also pursue Canada CPA.
US CPA vs Canada CPA – Know the Differences
Also, in India, the CA designation is at par with the US CPA.
CA vs CPA – Know the Differences
13 Differences Between ACCA and CPA
Both ACCA and CPA are globally recognised qualifications in accounting. These accounting courses offer a ton of high-paying job opportunities and a great social status. Here are some differences between ACCA and CPA.
| Parameter | ACCA | CPA |
| Eligibility | HSC (10+2) examination with 65% in Maths/Accounts and English and a minimum of 50% in other subjects | One needs 120 credits to be eligible for the CPA exam. The CPA eligibility criteria in India means graduation + 1 year of post graduation.
Also, CS and CA-IPCC candidates are also eligible to appear for CPA exams. |
| Governing Body | Association of Chartered Certified Accountants, UK | American Institute of Certified Public Accountants, US |
| Examination Pattern | ACCA exam has 3 levels –
Based on a candidate’s prior qualifications, he/she may get ACCA exemptions. |
CPA has 4 papers.
Each paper is 4 hour long. CPA exam does not give any exemptions. |
| Exam Format | 3 type of questions:
|
50% MCQs and 50% test based simulations |
| Course Duration | Whether you are doing ACCA after 12th, ACCA after CA or ACCA after graduation, the completion of course depends on when you join it. However, it can be completed in 6-30 months. | You can complete all 4 papers in 12-18 months. |
| Recognition | ACCA is recognised in 180 countries. ACCA has mutual recognition agreements (MRAs) with plenty of global accounting bodies. | CPA is highly regarded in US, Canada and in countries with US-based companies. |
| Job Profiles | Here are some job profiles after ACCA:
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Here are some job profiles after CPA:
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| Focus on Accounting Standards | Emphasizes on International Financial Reporting Standards (IFRS) | Emphasizes on Generally Accepted Accounting Principles (GAAP) |
| Exam Dates | Knowledge level computer-based exams can be given online throughout the year.
Skill level and professional level exams are conducted in March, June, September and December. |
US CPA exams can be scheduled anytime in the month of January, February, April, May, July, August, October or November. |
| Average Salary | The average salary of ACCA in India ranges from 5-14 LPA depending on experience. | The average salary for a CPA professional working in the big 4 in India ranges from 6-15 LPA depending on experience. |
| Cost | In terms of Indian currency, the cost of ACCA in India can be in the range of INR 20,000 – INR 2,50,000. | The average total cost of a US CPA in India comes to INR 3.5-4 Lakh. |
| Passing rate | Knoweldge level – 60-75% pass rate
Skills level – 40-50% Professional level – 40-50% |
The overall pass rate for CPA is in the range of 50-60% for all 4 papers. |
| Study material | ACCA offers learning support through its approved learning programs. It also provides guidebooks and sample papers for students. | For CPA reference material, candidate can refer to Becker, Wiley and Roger CPA review. |
Which Course is Better – ACCA or US CPA?
Both ACCA and CPA are rewarding and high-paying careers in accounting and finance. Both these courses help you develop proficiency in taxation, audit, financial accounting, risk management, and forensic accounting – all these are key aspects of any business. Both qualifications offer significant advantages. However, the choice between the two depends on where you plan to live and work.
At Proschool, we can provide full-fledged coaching for US CPA and ACCA. For US CPA, we provide study material from Becker and live online classes by expert faculty having 25+ years of rich teaching working for US CPA.
Proschool offer both online and offline coaching for ACCA. We have 15+ ACCA coaching centres across India. We are an approved learning partner of ACCA. If you enrol with Proschool, you can get ACCA registration fee waiver. We offer unlimited classroom and doubt-solving session until you succeed.
FAQs
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Is it worth doing ACCA after CA?
Yes. Doing an ACCA after a CA holds tremendous value. ACCA after CA makes you a globally recognised, future-ready accountant. It gives you knowledge of IFRS accounting standards. Moreover, you can get a high-paying job anywhere in the world. ACCA after CA increases your earning potential significantly.
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Where can the candidates take CPA and ACCA exams in India?
You can take these exams from designated centres in various parts of the country.
ACCA centres in India:
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- Ahmedabad
- Cochin
- Calicut
- Chandigarh
- Ernakulam
- Hyderabad
- Jaipur
- Bangalore
- Chennai
- Mumbai
- Kolkatta
- Mangalore
- Pune
- Trivandrum
- Delhi
CPA centres in India:
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- Mumbai
- Ahmedabad
- Bangalore
- Chennai
- Hyderabad
- New Delhi
- Calcutta
- Trivandrum
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Can I hold both ACCA and CPA credentials?
Yes. You can hold both these qualifications.
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Do ACCA and CPA require continuous professional education (CPE)?
Yes, ACCA professionals have to complete 40 units of CPD (Continuous Professional Development) and CPA students have to complete 40-80 hours of CPE every year to renew their license. The exact number of hours vary fron state to state.
Dwij K
