Well, we should not compare both the courses as both have their own place in Industry. But seeing countless queries of students on this topic, we have prepared this post about ACCA vs CA which is better in Nepal, the difficulty, and everything else you need to know about these courses. And why not, everyone wants to go with the best choice and when it is about career, then nothing could be more important.
Before going to the ACCA vs CA discussion, let’s have an introduction about ACCA and CA.
What is an ACCA course?
The Association of Chartered Certified Accountants (ACCA) institute, formed in 1904, is the global professional accounting body offering the “Chartered Certified Accountant” qualification. ACCA is a fast growing international accountancy organization with more than 2,00,000 members and more than 500,000 students in 180 countries.
As a globally recognized course and updated/Industry relevant content, ACCA qualification is a great way to build a career in Accounts and finance. Students can pursue this along with their graduation. Its flexible examination scheme makes this qualification more attractive.
What is a CA course?
Chartered Accountancy is a rewarding career in various fields of business and finance, including financial reporting, audit, taxation, financial and general management. Chartered Accountants are largely engaged in public practice and the private sector. They are also extremely successful entrepreneurs. To become a Chartered Accountant, one needs to be motivated, possess analytical skills, numerical ability and intense cognizance of the world of business and finance. More specifically, it requires study of accountancy, auditing, taxation, corporate laws, corporate finance, economics and management and information systems.
Difference between CA and ACCA
The difference between CA and ACCA courses are as follows:
|Base||CA in Nepal||ACCA in Nepal|
|Professional Body||Institute of Chartered Accountants of Nepal (ICAN)||Association of Chartered Certified Accountants (ACCA)|
|Recognition||Recognized in Nepal and some other countries where ICAN has MOUs||Recognized in more than 180 countries|
|Exam Structure||Three Levels –
CAP-I (3 Papers)
CAP-II (7 Papers)
CAP-III (3 years of articleship training) (8 Papers)
|Two Levels –
Fundamentals (9 Papers)
Professionals (4 Papers)
|Signing Authority||Only Practising Chartered Accountants are qualified to sign the audit report in Nepal.||ACCA is not qualified to sign the audit report in Nepal.|
|Focus||CA courses focus on Accounting, Auditing, Taxation, Finance, company law etc. results in expertise in multiple domains.||ACCA courses mainly focus on accounting and finance.|
|Established year||1997||1904, one of the oldest professional accounting bodies|
|Toughness||CA is considered the toughest course in Nepal.||ACCA is not easy but not as hard as CA.|
|Practical Training||3 years of articleship training||3 years|
|Prefer||Nepalese Companies prefer CA’s as they are aware of Nepalese Laws and related terms.||Multinational companies who are handling the work of overseas clients or companies outside Nepal prefer ACCA.|
|Flexibility||CA is not flexible. Here a student has to attempt at least a group at a time.||ACCA is considered flexible as here students can attempt a single paper in each attempt.|
|Course||CA is mainly Nepal based course hence students get a study base of Nepalese Laws and Standards.||ACCA has global coverage and therefore it is based on UK tax laws and standards.|
|Pass percentage||4%-5%||40% – 50%|
|Accounting standards||Focuses on Nepal Accounting standards. Recently it has started to work on NFRS (Nepal financial reporting standards)||Focuses on IFRS (International Financial reporting standards). Gives additional knowledge internationally accepted accounting practices & GAAP (Generally accepted accounting practice)|
|Demand||Rapidly Increasing with the implementation of new laws in the country.||The scope is limited but expected to grow in the future.|
After reading this article, you have been cleared if you want to grow in Nepal or set up your own practice, then you should go with Chartered Accountancy but if you plan to set up outside Nepal, then ACCA will be a better option.
To decide which qualification fits more, one can visit local offices and colleges or go through the official website of ACCA and ICAN.
Official website of ACCA: www.accaglobal.com
Official website of ICAN: www.ican.org.np