ACCA vs CPA: Similarities to Differences for Accountancy Aspirants

Are you aggressively searching for answers to CPA or ACCA which is better? Or maybe want to know CPA or ACCA which is easy to complete?

If this is the case hold on for a minute as this article brings a stop to all your queries, and together we delve into the differences and similarities between ACCA vs CPA ensuring that you are equipped with every bit of detail for you to confidently choose your path.

What is ACCA?

AACA is a globally recognized accounting body in the UK, offering a comprehensive course in accounting and finance covering areas like financial accounting, management accounting, taxation, audit, and business ethics.

Aligned with international standards, this course provides flexibility in study options and allows career choices based on existing qualifications. ACCA certification enhances career prospects in diverse sectors, including accounting firms and multinational corporations, as it signifies high professional expertise.

What is CPA?

CPA, or Certified Public Accountant, is a designation for professionals specializing in accounting and finance, primarily in the United States. To attain CPA status, candidates must successfully pass the CPA examination, evaluating their knowledge of US Generally Accepted Accounting Principles (GAAP), auditing standards, taxation, and business laws.

CPA is a highly esteemed profession in the US, requiring extensive expertise in accounting. Obtaining a CPA degree is crucial for pursuing careers in public accounting, corporate finance, government agencies, and other related fields.

ACCA or CPA Which is Better?

ACCA and CPA have distinct examination structures. ACCA features computer-based exams divided into knowledge, skills, and professional levels, available year-round.

In contrast, CPA has a uniform exam administered by the AICPA. Choosing between them should involve assessing which format and structure better suit your learning style and preferences.

ACCA vs CPA Scope

ACCA enjoys widespread acknowledgment across the globe, especially in Europe, Asia, and Africa. While CPAs hold more prestige in the United States, other regions accepting CPAs can also offer significant opportunities.

ACCA vs CPA Course Duration

The average duration to complete all exams is approximately 4 years. In contrast, becoming a CPA professional typically takes between 1 to 2 years.

ACCA vs CPA Syllabus

ACCA covers diverse topics like financial accounting, management accounting, taxation, etc. In contrast, CPA exams focus on jurisdiction-specific areas, encompassing business concepts and ethics.

ACCA vs CPA - Exam Pattern

ACCA conducts online exams lasting 2-3 hours, featuring a mix of objective-type questions and case studies. ACCA requires candidates to complete 13 exams within 5 years

Similarly, CPA exams are online, lasting 4 hours, and consist of multiple-choice questions and task-based simulations, and obtaining a CPA degree involves passing all 4 exams.

ACCA vs CPA Exam Frequency

ACCA exams take place four times a year, scheduled in March, June, September, or December. The Continuous Testing model of CPA provides candidates with greater flexibility as there is no fixed exam date.

ACCA vs CPA Exemptions

USA CPA does not have flexibility exemptions for students, whereas ACCA offers exemptions based on academic backgrounds:

• Graduation: Qualifies for 4 exemptions out of the 13 ACCA exams.
• IPCC passed + Graduate: Qualifies for 6 exemptions out of the 13 ACCA exams.
• CA qualified: Qualifies for 9 exemptions out of the 13 ACCA exams.

ACCA vs CPA - International Recognition

One of the major considerations when choosing acca and cpa which is better, is the recognition the certification brings along.

Based on its approach to International Financial Reporting Standards (IFRS) for ACCA, fostering a solid understanding of global accounting practices. In contrast, it centers on Generally Accepted Accounting Principles (GAAP) for CPA and incorporates International Accounting Standards.

CPA vs ACCA Salary & Prospects

Wondering which is better in the CPA vs ACCA salary aspect? Both certifications offer excellent career prospects and global recognition. On average, an ACCA professional earns between INR 5 lakh to 16 lakh annually, while a US CPA in the United States typically earns between $38,000 to $90,000.

Job roles for ACCA include financial accountant, management accountant, corporate treasurer, financial controller, and finance manager. On the other hand, CPA job roles encompass corporate controller, public accounting, tax examiner, business system analyst, and forensic services.

ACCA vs CPA USA Eligibility Requirements

Having gained insights into job opportunities, scope, salary, and other aspects of ACCA and CPA, it's essential to assess the difficulty in pursuing these courses.

This involves understanding the ACCA eligibility criteria, which outlines the requirements you must meet to qualify as a professional in ACCA or US CPA.

Seek GetGIS Guidance to Choose Your Right Fit, ACCA versus CPA

For personalized advice on choosing between ACCA or Certified Public Accountant (CPA), turn to GetGIS Guidance. We offer tailored insights to help you make the right decision, considering your aspirations and career goals.

Whether leaning towards expertise in the US Financial System with a CPA or exploring the global opportunities of ACCA, our assistance team provides the guidance needed for your professional journey.

Book Your Free Consultation

Useful Links: For Further Reads

• A Guide To Canada PR for Indian Chartered Accountants
• Accounting Jobs in Canada: Scope, Eligibility and Salary