#CareerBytes: Should you pursue ACCA certification course after completing CA?
Chartered Accountancy (CA) is one of the most sought-after and toughest professional courses in India. While CA is a respected and rewarding career option, one can go for additional certifications/professional qualifications after CA to have an edge over others. Many candidates pursue the ACCA course after CA in order to boost their career. Here are some advantages of obtaining ACCA certification after CA.
About the ACCA certification course
ACCA certification is a global professional qualification that is well-acknowledged in almost all countries. It is awarded by the UK's Association of Chartered Certified Accountants (ACCA). ACCA is available in 180 countries, including India. It comprises two levels: Fundamentals (9 papers) and Professionals (5 papers). It involves subjects like financial accounting, management accounting, financial reporting, taxation, company law, audit, assurance & financial management, etc.
The ACCA course offers global recognition
The CA program covers accounting, auditing, taxation, finance, company law, etc., offering expertise in multiple domains. However, CA focuses more on Indian standards and business laws and is not much recognized globally. So, the ACCA course is great for CA candidates looking to build a career at the global level as it offers knowledge of the global standards, practices, and exposure.
Pursuing ACCA certification broadens CAs' career options
Another reason for CA candidates to obtain the ACCA professional qualification is that it broadens their career options. With the ACCA certification, they will be able to assume more diverse roles and work in various industries too. They can also work at multinational organizations as many companies abroad require qualified finance professionals trained with global standards who can work in their finance departments.
There are a number of exemptions available for CAs
Those who have completed the CA program can also avail a number of exemptions in the ACCA certification course. ACCA course has a total of 14 papers that the candidates are required to clear. However, qualified CAs (who've completed CA program after May 2003) are entitled to exemptions in nine of the 14 papers. Also, candidates who've cleared CA Intermediate can get five exemptions.
#4: Flexibility and duration of the ACCA course
The duration of the ACCA course generally is 2-3 years. But since qualified Chartered Accountants are eligible for exemptions, they can complete the course sooner. Also, the exam pattern is flexible compared to CA as ACCA exams are not held in groups.
ACCA is one of the most in-demand professional certifications
The ACCA program is one of the most in-demand professional certifications in the field of accounting. It is a great option for CA candidates as it not only provides in-depth knowledge of core accounting and finance but also offers global acceptance. The CA and ACCA combination will add more value to the candidate's profile, giving them an advantage over their peers.