ACCA vs. CPA

If you want to mark your career in the Global Accounting profession, you will be thinking of ACCA (Association of Chartered Certified Accountants) or Certified Public Accountant. Both of them offer professional certification on Global Accountancy as the ACCA is more in the lines with the UK’s rules and regulations while CPA is of the USA. 

 ACCA, founded in 1904, in the United Kingdom, ACCA, is the oldest global professional accounting body offering the Chartered Certified Accountant qualification. For CPA Exams, there is no centralized body. The license is granted by the 55 states of the United States. Because of the same, each state has a slightly different exam pattern.

 Both professions are highly respected but come with certain differences. Here are the top 5 distinguishing factors of both the courses.

 1. Eligibility:

 CPA: Minimum 4-year bachelor’s degree and a master’s degree to fulfill the 150 credit hours. It is equivalent to 5 Years in higher education. 

 ACCA: You should have 3 GCSEs and 2 A-Levels in 5 separate subjects, including Math and English. Most of the high school graduates find it easy to qualify. Also, if you have a bachelor’s degree in relevant subjects, you can avail the exemption benefit on part or all the papers at the fundamental level.

2. Study Material Support

 CPA: The state board provides no study material. Candidate has to take the commercial review of the course and prepare for the exam on their own.

ACCA: Once you’re registered for the exam, ACCA helps the candidate with the study guides and sample paper. Along with it, they also authorize the ACCA Approved Learning Partners.


4. Exam Syllabus

CPA: It is a computer-based online exam comprised of MCQs. The exam has four parts:

  1. Financial Accounting & Reporting (FAR)
  2. Audit & Attestation (AUD),
  3. Regulation (REG)
  4. Business Environment & Concepts (BEC)

ACCA

There are total of 14 subjects available at three different levels:

Knowledge LevelSkills LevelProfessional Level
Accountant in Business  Corporate and Business Law  Strategic Business Reporting  
Management Accounting  Performance Management  Strategic Business Leader.
Financial Accounting  Taxation  Advanced Financial Management
 Financial Reporting  Advanced Performance Management
 Audit and Assurance  Advances Taxation
 Financial Management.  Advance Audit and Assurance


An individual can also avail certain exemptions on the basis of their graduation level.


 5. Time Required to Pass

CPA:

Mostly candidates aim to clear the exam within 12 to 18 months. 

ACCA:

It requires 3 to 4 years for the candidates to complete all papers and become an ACCA member.

 Below is a summary of the few differences that’ll help you to decide which course you should opt for as per your requirements.

Basis of DifferenceACCACPA
RecognitionRecognized in US and anywhere with US regional offices  Recognized in UK and commonwealth countries  
Body55 jurisdictions; complicatedOne single entity; simple application  
EntryHigh entry barrier: master’s level  Low entry barrier: post-secondary  
Time to appearExam offered in 10 months  Exam offered 4 times a year only  
Exam Test CentersUS + 6 countries  170+ countries  
Exam Modules4 parts  14 papers  
Time to Complete12-18 months3-4 years

There are various Chartered Accountant Degrees across the globe, and comparing them on the same level would be not an accurate measure.

 Both the professional degrees are based out of different countries, and in general, the chartered accountant degree is more country-specific. Hence, you need to look after your requirements and decide which field you should choose.

Related Stories

Innovation as Soft Power

Unarguably, we are living in innovatively the most exceptional time of human development. The mechanical turns of events, particularly that occurred in...

How To Record a Vehicle Purchase In Quickbooks

If you have purchased any vehicle for your office use. Then you need to specify in your accounting books. Quickbooks allows an...

Guidelines to choose the best sports betting website

Online betting is the most convenient form of betting, and that is why more and more people are moving from land-based casinos...

How do you set up Wedding String Lights?

String lights are an ultra-sentimental, yet reasonable stylistic layout detail that can change a space. Likewise called sparkle or bistro lights, they...

5 Things That Can Help In Fighting With Obesity

During the past few decades the rate of obesity has increased significantly. There is no stopping it as people get more busy...

How much does Joe Rogan make from a podcast

Rogan may only earn $ 4 million or more per month on YouTube. In this case, Joe Rogan's estimated net worth of...

Resolve pdf and printing Errors with QuickBooks Desktop

In the event that you showed up at this pamphlet to find approaches to fix issues with printing, messaging, or sparing as...

You might also likeRELATED
Recommended to you

Innovation as Soft Power

Unarguably, we are living in innovatively the...

How To Record a Vehicle Purchase In Quickbooks

If you have purchased any vehicle for...

Guidelines to choose the best sports betting website

Online betting is the most convenient form...