CA vs ACCA
CA vs ACCA is a very confusing question for students who want to jain accountacy profession. In this article we will share everything about both fields. This will help you to determine which is better for you.
CA and ACCA both are honorable and professional Accountancy degrees but many students don’t know the basic difference between CA and ACCA. Many students have confusions that which degree is better for them. So in this article, we will discuss the difference between these two and try to resolve all your doubts and confusions about these two professional degrees on which basis you will be able to choose which degree is better for you.
- Basic difference between CA and ACCA
- Number of papers / Stages
- Difficulty level / Duration
Basic difference between CA and ACCA
CA and ACCA both are accountancy degrees and the subjects are also same in both i.e Financial Accounting and Reporting, Audit, Taxation, Corporate and Business Law, and Business Management. But the basic difference is that ACCA is a UK-based degree while CA is a Pakistan-based degree.
Number of papers / Stages
There are a total of 21 papers in CA that are completed in 4 stages. The exams of CA are held by ICAP in Pakistan.
Assessment of fundamental competencies (AFC) (4 Papers)
- AFC-1 Functional English (50 marks MCQs paper)
- AFC-2 Business Communication (50 marks MCQs paper)
- AFC-3 Quantitative Methods (100 marks MCQs paper)
- AFC-4 Introduction to Information Technology (50 marks MCQs paper)
Certificate in Accounting and Finance (CAF) (9 Papers)
- CAF-1 Introduction to Accounting
- CAF-2 Introduction to Economics and Finance
- CAF-3 Business Law
- CAF-4 Business Management and Behavioral Studies
- CAF-5 Financial Accounting and Reporting 1
- CAF-6 Principal of Taxation
- CaF-7 Financial Accounting and Reporting 2
- CAF-8 Cost and Management Accounting
- CAF-9 Audit and Assurance
Certified Finance and Accounting Professional (CFAP)
- CFAP-1 Advance Accounting and Financial Reporting
- CFAP-2 Corporate Law
- CFAP-3 Business Management and Strategies
- CFAP-4 Business Finance Decisions
- CFAP-5 Advance Taxation
- CFAP-6 Audit, Assurance, and related Services
Multi-Subject Assessment (MSA)
- Financial Reporting Professional Competence
- Audit Professional Competence
There are a total of 13 pages in ACCA that are completed in 3 stages
APPLIED KNOWLEDGE PAPERS
- Business and Technology (BT)
- Management Accounting (MA)
- Financial Accounting (FA)
APPLIED SKILL PAPERS
- Corporate and Business Law (LW)
- Performance Management (PM)
- Taxation (TX)
- Financial Reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
STRATEGIC PROFESSIONAL PAPERS
- Strategic Business Leader (SBL)
- Strategic Business Reporting (SBR)
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
- Advanced Audit and Assurance (AAA)
*Students will have to choose 2 papers from options.
Difficulty level / Duration
CA is difficult as compared to ACCA and CA students will have to do very hard work as compare to ACCA students to qualify. In CA Finals, the average passing results in a single paper in a single attempt vary between 5%-25%. Whereas, in ACCA Professional Papers exam results vary between 30%-50% in one sitting. ACCA can be completed in a minimum of 2 years while the normal/minimum duration to qualify CA is 5 to 5.5 years.
Scope of CA vs ACCA.
As CA is a Pakistan-based degree so it has very good scope as compared to ACCA and job opportunities are more for CA students as compared to ACCA students. Accountancy firms also give more preference to CA students as compared to ACCA students. The salary of CA is also high as compared to ACCA in Pakistan but it doesn’t mean that ACCA doesn’t have scope in Pakistan and there are no job opportunities for ACCA students. The scope of ACCA is very good in Pakistan and ACCA can earn a high income in Pakistan as compared to CA but it depends on circumstances.
Out of Pakistan
As ACCA is a UK-Based degree so it has a very good scope out of Pakistan in many countries as compared to CA. The job opportunities and salary of ACCA is high as compared to CA out of Pakistan. But it doesn’t mean that CA doesn’t have scope and job opportunities out of Pakistan it has but less than ACCA and it depends on circumstances.