Is ACCA Considered a Degree? Let’s Fact Check

When exploring career paths in finance and accountancy, many prospective students wonder if obtaining the ACCA qualification is equivalent to earning a degree. It’s essential to understand that while ACCA is highly respected globally, it is not technically considered a ‘degree’ in the academic sense. However, its recognition, value, and practical application often place it on par with or even above traditional degrees in certain professional contexts.

ACCA as a Professional Qualification

The ACCA (Association of Chartered Certified Accountants) is a globally recognized professional certification. Designed to equip candidates with in-depth knowledge and practical skills in accountancy, finance, and business management, the ACCA qualification is often regarded as a stepping stone for individuals aiming for senior roles in finance or even CFO positions. It consists of 13 exams spread across three levels, supplemented by the 20 hours Ethics and Professional Skills module, and 36 months of practical experience.

Unlike traditional academic degrees, which primarily focus on theoretical knowledge, ACCA emphasizes practical training. It’s tailored to meet the needs of the global accounting industry, preparing candidates for real-world scenarios they will face in their careers.

ACCA vs. Degrees: Key Differences

Subjects Studied

A traditional degree—whether a bachelor’s or master’s—covers a wide range of subjects, often extending beyond finance and accounting, especially in undergraduate programs. For instance, in a business management degree, you may study marketing, human resources, or organizational behavior alongside finance.

On the other hand, ACCA is highly specialized. From the start, ACCA students dive deep into accountancy topics, including financial reporting, tax, audit, ethics, and business leadership. The focus is on honing the skills necessary to become a qualified accountant or finance professional, making it more targeted than a general degree.

Practical Skills vs. Academic Knowledge

While degrees often prioritize theoretical frameworks, research, and academic knowledge, ACCA places a significant emphasis on practical application. ACCA-qualified professionals are expected to demonstrate hands-on proficiency through the Practical Experience Requirement (PER), which involves 36 months of verified work experience in relevant roles. This requirement ensures that students not only understand accounting principles but can also apply them in a professional setting.

Global Recognition

ACCA is widely recognized and respected across 180+ countries, making it an ideal qualification for those looking to pursue international careers. Degrees, while valuable, often have regional recognition and may need further evaluation or qualification when seeking work abroad.

Also Read – ACCA Course Duration: For Graduates, CA’s, MBA’s & more

Is ACCA Equivalent to a Degree?

While ACCA is not a degree, it is often regarded as a qualification equivalent to CA, making it highly valuable. Moreover, though the qualification itself does not confer an academic degree, the various exams you clear can earn you honorary degrees from different universities. For instance, you can gain a B.Sc (Hons) degree in Applied Accounting from Oxford Brookes University if you complete your ACCA exams, the ethics module, and submit a research and analysis project before 2026. This signifies the strength ACCA holds over a bachelor’s degree.

In some universities, students have the option to pursue a BSc or MSc in applied accounting alongside their ACCA studies through partnerships with institutions like Oxford Brookes University. This allows students to earn an academic degree while qualifying as an ACCA member, offering the best of both worlds.

When exploring career paths in finance and accountancy, many prospective students wonder if obtaining the ACCA qualification is equivalent to earning a degree. It’s essential to understand that while ACCA is highly respected globally, it is not technically considered a ‘degree’ in the academic sense. However, its recognition, value, and practical application often place it on par with or even above traditional degrees in certain professional contexts.

Also Read – ACCA Exemptions For B.Com/ BBA/ CA Foundation/CA Inter/ CA Final/ MBA & How to Get Them

Career Impact and Value

When it comes to career opportunities, ACCA is highly regarded by employers globally, especially in fields like audit, tax advisory, financial reporting, and consultancy. The practical experience and ethics training ACCA provides make it a strong alternative to traditional academic routes.

In terms of salary potential, an ACCA-qualified professional often commands competitive compensation. Freshers with an ACCA qualification offered higher salary packages than those with academic degrees and are assured senior-level roles in finance or accountancy. For example, a B.Com or BBA graduate earns around 2 – 3 Lakhs per annum at the beginning, while an ACCA earns 6 – 8 Lakhs per annum.

The reason behind it is that many employers value ACCA for its professional focus and the assurance that the candidate possesses not only theoretical knowledge but also the practical skills necessary to excel in the workplace.

Also Read – 10 Trending ACCA Job Profiles In India

Why Choose ACCA Over a Degree?

When choosing between ACCA and a traditional degree, it’s like deciding whether to take the express train or a scenic route. ACCA might not be a degree in the conventional sense, but it offers unique advantages that often outshine traditional academic qualifications:

• Flexibility in Exams

  • ACCA exams are structured to accommodate working professionals and students alike. You can take one paper at a time or multiple in a single sitting, making it easier to balance studies with other responsibilities. Plus, with four exam windows a year, you can progress at your own pace.
  • Example: Imagine working full-time at a Big 4 firm while slowly acing your ACCA exams—it’s a win-win.

• Global Relevance

  • ACCA is recognized in over 180 countries, making it ideal for those aiming for international careers. Whether you dream of working in Dubai’s wealth management firms or London’s financial hubs, ACCA credentials are your passport.
  • Stat: Over 7,000 ACCA-approved employers globally seek certified professionals.

• Specialized Curriculum

  • Unlike degrees that include general topics, ACCA dives straight into the nitty-gritty of finance, accountancy, and management. From IFRS to strategic business leadership, the syllabus is tailored to the needs of modern-day accountants.
  • Indian Relevance: As India aligns its accounting standards with IFRS, ACCA professionals are increasingly in demand.

ACCA vs Degree – Let’s Compare Their ROI

The ROI of any qualification boils down to three factors: cost, salary potential, and how quickly you can recoup your investment. Let’s break it down for ACCA vs traditional degrees:

Cost of Pursuing ACCA vs Degree

• ACCA: ₹2-3 lakhs (including tuition, exam fees, and study materials).
• Degree: ₹3-10 lakhs, depending on the institution.

Salary Comparison

• ACCA Professionals: Freshers can earn ₹6-8 LPA, while experienced professionals can command ₹10-25 LPA.
• Degree Holders (B.Com/BBA): Starting salaries average around ₹2-4 LPA, with slower growth trajectories.

Break-even Point

• An ACCA certification can pay for itself in 1-2 years post-completion, thanks to higher salaries and rapid career advancement.
• A traditional degree might take 3-5 years to break even, especially if followed by further studies like an MBA.

Also Read – What is the cost of doing ACCA in India? ACCA Fees structure

Proschool’s Role In Your ACCA Preparation

If you’re ready to choose ACCA, Proschool ensures that your journey is as smooth as it is successful. Here’s how Proschool stands out:

• Cost Savings: Save on registration fees and training costs.
• Comprehensive Study Resources: Access 600+ questions for each subject
• Unlimited Support: Exam pass commitment with unlimited classroom and doubt-solving sessions. And get dedicated revision classes to ensure exam readiness.
• Flexible Learning Options: Choose from classroom training in 10 cities or online sessions.
• Placement Assurance: At least 3 job shortlists for entry-level roles within 6 months of course completion.

Conclusion

To conclude, while ACCA is not an academic degree, it is a highly valuable and globally respected professional qualification that prepares candidates for successful careers in finance and accountancy. Its focus on practical application, global recognition, and the career opportunities it opens up often make it an appealing alternative to traditional degrees for those aiming for high-level finance roles.

FAQs

Which is better, ACCA or a degree?

It depends on your career goals. ACCA is highly specialized and prepares you for finance and accounting roles, while a degree provides a broader educational experience. Both have value, but ACCA offers more targeted practical skills in accountancy.

Is ACCA equivalent to a Master’s degree?

Yes, in many countries, ACCA is considered equivalent to a Master’s degree in terms of its level of difficulty and professional value. However, it does not confer a formal academic title like a Master’s degree.

Can I get a degree while studying ACCA?

Yes, through partnerships with institutions like Oxford Brookes University, ACCA students can earn a BSc in Applied Accounting or even pursue a Master’s degree alongside their ACCA studies.

Is ACCA better than an MBA?

ACCA and MBA serve different purposes. ACCA is more focused on finance and accountancy, while an MBA covers a broader range of business management skills. The choice depends on your career aspirations.

Is ACCA recognized by employers?

Yes, ACCA is recognized by employers worldwide. Its global presence and emphasis on practical experience make it highly respected in the fields of accounting and finance.