The Dilemma of choosing CA or ACCA Course
CA or ACCA – There is always a dilemma what to choose between CA and ACCA when it comes to a career in accounting and finance, says an indiastudychannel.com report.
Chartered Accountancy Course
The Indian Chartered Accountancy Course (CA) is provided by ICAI (The Institute of Chartered Accountants of India). ICAI is established under the Chartered Accountants Act, 1949. CA is a professional qualification which is very much valid in India and considered valid in many other countries too. It is the qualification required for you to practice as a Chartered Accountant in India. If you are planning to stay in India and work for an Indian firm, then CA is a must.
Any candidate who has passed Grade X can register for CPT (Common Proficiency Test) exam. But in order to appear for CPT, you need to pass Grade XII or at least waiting for the Grade XII results. There is no restriction on the percentage of mark to be scored in Grade XII to appear for CPT. ICAI introduced a direct entry scheme in 2012 through which students who have completed their graduation with a certain percentage of marks are exempted from CPT.
Commerce graduates with 50% marks, non-commerce graduates who have taken subjects other than Mathematics with 55% marks and those non-commerce graduates with Maths subject who have scored an aggregate of 60% marks are exempted from the CPT. Such students can register for Integrated Professional Competence Course (IPCC) directly, which is the intermediate level.
Association of Chartered Certified Accountants
The Association of Chartered Certified Accountants is a UK based Chartered Accountancy qualification which has a more global value. It can be called as a global professional degree. ACCA is recognized as the world’s largest association of accountants. In India, however, preference is given to CA holders. But that does not mean that ACCA qualification will not fetch you a job in India. MNCs are recruiting candidates with ACCA qualification.
In order to be eligible for ACCA, you need to have at least two A Levels and three GCSEs (including English and Mathematics). ACCA offers exemptions too for students with higher qualifications. If you hold an Indian bachelors degree or Masters Degree (if relevant), you are exempted from the first four papers. On the other hand, if you hold a UK degree, you are expected from nine papers. Exemptions provided depends upon the other relevant qualifications you have. If you have plans of doing ACCA, you can start after completing Grade XII. If you wait for completing your graduation, then you will be eligible for exemptions.
Which course is best?
Both are professional qualifications and both are equally good. You need to consider various factors before arriving at a conclusion. A good homework has to be done before finalizing the course.