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

There comes a point in every finance or commerce student’s life when you have to pick a speciality. As a budding finance or accounting professional, this moment can be overwhelming. The finance industry can seem like a vast sea of endless possibilities and professions. From the outside, it is difficult to decide which area of specialisation works best for you. Sometimes, it is difficult to choose between two fields as both seem like a good fit.

If you are a student mentally debating on ACCA vs FRM, or you want more details about either certification, then this is the right page for you.

Find out more about the specifics of each course. We take a closer look at the relevance of each qualification, course details, job opportunities and many more.

Once the details are clear, you can make an informed decision about your future.

What is ACCA?

The ACCA stands for the Association of Chartered Certified Accountants. The organisation has established one of the world’s leading accounting certifications, setting the benchmark for management and financial accountants. In 1904, the ACCA board was set up to create an elite community of professionals and create a uniform international standard in accounting. Today, the ACCA organisation has nearly 250,000 members, and over 500,000 students worldwide are studying hard to join this prestigious group.

Highlights of the ACCA course 

• It is a globally recognised course that offers job opportunities in over 180 countries.
• The syllabus contains a comprehensive mix of technical knowledge, relevant industry developments and practical skills.
• The passing rate is over 40 per cent, while the CA is only 4 per cent.
• The Big 4 firms, leading banks and all major finance institutions hire ACCA-certified professionals.
• ACCA members get insider access to deluxe resources such as exclusive job openings, industry happenings, networking opportunities, and more.
• Job profiles include management accountant, tax expert, forensic accountant, financial accountant, internal auditor, credit controller and finance manager.

Also Read – 10 Trending ACCA Job Profiles In India

What is FRM?

Designed by the Global Association of Risk Professionals 25 years ago, the FRM is an internationally acclaimed certification for risk management. Over 100,000 people are working as FRM professionals in almost 190 countries.

This niche certification is for those finance professionals who want to work in assessing and mitigating risk factors in financial institutions. The FRM, also known as the Finance Risk Manager course, sets the standard for excellence in risk management. The syllabus contains strong, technical knowledge about various types of risks, such as credit, liquidity and market risks.

Highlights of the FRM course:

• Globally recognised as the best qualification for risk management services.
• The program gives students an in-depth study of how financial markets work.
• The FRM course teaches skills that are applied to several professions in the finance field.
• These skills include knowledge and application of statistics, valuation and risk modelling.
• FRM professionals can work in banks, asset management companies, insurance firms and accounting agencies.

FRM vs ACCA – a comparison table 

FRM vs ACCA — how to choose what’s best for you?

Finance experts consider the ACCA and FRM certifications as two of the best courses in the industry.

ACCA teaches you how to be an accounting expert who can write financial reports, create business forecasts, budget funds and help make important decisions for the organisation. The program is perfect for professionals who want to play a vital role in the financial operations of a company.

The FRM course is ideal for students with analytical minds and an affinity for risk management. If you know this is your chosen field right away, then it makes sense to do this program.

However, if you want a clear overview of the finance and accounting industry, with the option of gaining expertise in several fields, then ACCA is your best bet.

In the battle of FRM vs ACCA, it all comes down to your aptitude and interest.

Also Read – How to get ACCA jobs in the Big 4?

Why you should study ACCA with Proschool

The ACCA exams can be quite challenging to clear. You have three levels and 13 exams standing between you and your certification. If you don’t want to take any chances, then enrol with Proschool, one of India’s top coaching institutes and an ACCA-approved partner. Proschool has created a unique program called the Global Professional Accountant. It is a holistic course that offers students a complete study of the ACCA syllabus, soft skill development and the financial modelling method. The GPA program has two specially designed options for undergraduates and graduates.

Proschool teachers are respected industry gurus who use innovative learning methods and practical training approaches to help students master the course. The focus is on grasping concepts, not memorising notes.

Highlights of learning with Proschool:

• 15+ coaching centers are available in cities such as Mumbai, Delhi, Kochi, Kolkata, Bangalore and Pune.
• You can also register for online classes.
• If you enroll with Proschool, your ACCA registration Fees get refunded.
• You get over 600 practice questions per subject to help you get ready for each exam.
• Our ACCA Faculty also helps students with doubt-clearing sessions and personalized learning support.
• The placement team offers recruitment assistance with interview and resume writing tips.
• Certified students can access Proschool’s exclusive placement portal, which has thousands of job openings.

FAQs

ACCA vs FRM – Which is the tougher course?

While both courses are challenging and rigorous, the ACCA program has more subjects and course levels to complete. The syllabus has a wide range of finance topics for students to master compared to FRM, which is focused on risk management.

Most students take 3 to 4 years to complete the ACCA course. So the ACCA course might be considered tougher than the FRM, but the career rewards are also higher.

Which course increases my chances of working abroad — ACCA vs FRM?

Both are internationally recognised certifications, so you can choose either if your main goal is to work overseas.

Does it make sense to do both courses — ACCA and FRM?

While it is perfectly fine to do both courses, it is essential to note that the ACCA syllabus also covers risk management.

Conclusion 

FRM vs ACCA is not an easy debate to win. Both courses have merits, yet only one may be right for you. If you’re interested in mitigating financial risks and working in the risk management sector, choose the FRM course.

If you plan to become a financial or management accountant with a global perspective and cutting-edge skills, then ACCA is for you.