ACA vs. ACCA

ACCA
#1

Okay, it’s another ACA vs ACCA thread!

I have the option to do either, but I wanted to know which qualification would give me more opportunities outside of accountancy/finance roles. Or would they both be pigeonholing me into that sort of industry?

Thanks!

#2

Outside of finance and accounting? why do ACA or ACCA then? Both of these qualification would open doors for you, but only in accounting or finance.

#3

You get either and you’ll in finance/accounting for a long time, unless you want a massive pay cut compared to what you could be getting. I assume that you could go into managerial work or project management work.

In terms of ACA vs ACCA, go for ACA. For more detail as to why see here http://www.ion.icaew.com/talkaccountancyforum/22442

In terms of numbers, ACA clearly wins:
More than 84% of FTSE 100 companies have at least one ACA on their board. Of the 20 professional accountants on the ‘2009 Financial Power list’, 75% are ACA qualfied. 55 FDs in the FTSE 100 are ACA qualified vs 5 who are ACCA qualifed (from Accountancy Age April 2009)

Basically, ACA is better respected and more recognised. Hope this helps

#4

Well as mentioned above there is no doubt ACA is a well respected body since it is one of the oldest accountancy bodies out there. However, I would like to point out that ACA requires a training contract from companies listed as approved by ICAEW and in this economy it is very difficult to get one. You multiply that by 2 if you’re not living in the UK.

One of the things mentioned in the article is that ICAEW has a better passing rate and 80% of its student pass their qualification in three years or less. The reason for this is because in ACCA you have a lot of people who are self studying the qualification without going to an institute. This is not the case with ICAEW. One thing more most of the companies have a clause where if you fail your ICAEW exam once or twice they cancel your training contract.

ACCA gives you 10 years to complete your qualification. ICAEW has a clause where if you fail an exam 4 times you start over again from scratch.