What is ACCA?
ACCA stands for Association of Chartered Certified Accountants, a globally recognized qualification spreading over 180 countries, the world’s leading professional accounting body which set up in London 1904.
ACCA has more than 5,00,000 students throughout the world. It mainly focuses on the excellence of the Accounting and Finance profession giving their students an additional knowledge of UK GAAP, their Laws, and IFRS and this is the main advantage of doing ACCA.
After pursuing ACCA, one can start his career with some MNC or a local firm handling overseas and local clients. They can opt for various career options like Finance, Taxation, business consultants, Audits, Bankings and many more. Some countries which highly recognize the ACCA qualification are Australia, Ireland, the UK, Canada, and many others.
What is CA?
CA stands for Chartered Accountancy, one of the most sought and rewarding career options among the commerce students. Chartered Accountants mainly focus on Audit as their main profession.
They are treated as an expert in various domains starting from accounting, auditing to finance, taxation, corporate laws, etc. The career options after becoming a Chartered Accountant are countless. They can join an Audit firm, or Local or Multinational Company as an Internal Auditor, or can join some foreign or local banks to guide them in their financial and legal matters or start your own practice.
In Nepal, the profession of Chartered Accountancy is regulated by the Institute of Chartered Accountants of Nepal (ICAN) which was established by parliament under the Chartered Accountants Act, 1997. After completion of three levels of examination (CAP I, CAP II, and CAP III) with three years of articleship training under a qualified CA, one can get the membership of ICAN and with the Certificate of Practice (COP), one can practice as a professional accountant.
What is the difference between ACCA and CA?
Which one is better? Which is more flexible? If you are confused between ACCA and CA and the above questions are bothering you, then you should not miss reading this.
|Point of Difference||ACCA in Nepal||CA in Nepal|
|Recognition||Recognized in more than 180 countries||Recognized in Nepal and some other countries where ICAN has MOUs|
|Established year||1904, one of the oldest professional accounting bodies||1997|
|Regulating body||ACCA UK||ICAN|
|Demands||Equally demanded by govt & private organisations, MNCs, firms, etc||Equally demanded by govt & private organisations, MNCs, firms, etc|
|Practice in Nepal||Need to pass some ICAN papers and fulfill articleship requirements||ICAN members can directly go for practice in Nepal|
|Accounting standards||Focuses on IFRS (International Financial reporting standards). Gives additional knowledge internationally accepted accounting practices & GAAP (Generally accepted accounting practice)||Focuses on Nepal Accounting standards. Recently it has started to work on NFRS (Nepal financial reporting standards)|
|Flexible study options||Very flexible. one can attempt a single paper at a time||One has to attempt at least one group at a time.|
|Pass percentage||40% – 50%||4% – 5%|
|No. of papers||13 papers||20 papers|
|Entry requirements||+2, Bachelors, Masters||+2, Bachelors, Masters|
|Articleship required||3 years||3 years|
|Average Salary range||Similar||Similar|
Both ACCA and CA are popular choices in the market. Both courses are based on quality, learning approaches and highly respected. 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
You can even visit one of the leading colleges for ACCA in Nepal, Seed Financial Academy, to have the actual figure of these professional qualifications. Follow the website www.seedfinancial.com.np to get all the updates