The primary benefit of having an ACCA degree over a CPA degree is the fact that the ACCA degree opens you up to a variety of roles and responsibilities in the financial industry globally.
Not just that, having an ACCA degree also gives you a chance of becoming a member of the Royal Charter Committee. With a pass percentage of 30%, cracking the ACCA exam is a forever achievement in one’s financial career.
The CPA exam on the other hand, has a pass percentage of 50%. This degree allows you opportunities only in American MNCs and companies within the USA.
Both certifications can improve your salary package at your current job and even open doors for your business.
However, a CPA certificate holder is restricted from certain job responsibilities, like signing audit forms, etc. Additionally, the CPA issued by the AICPA is not as widespread as the ACCA, even though the quality and value of the degree are almost the same as an ACCA.
As a young student, it can be daunting and confusing when choosing between the two certifications!
So, which one is better?
ACCA or CPA.
Researching and drawing a conclusion on your own for this can be a tiresome task.
Allow us to lessen your burden.
What is ACCA?
The acca is an acronym for ‘the Association of Chartered Certified Accountants’. The ACCA is established and accepted as the global financial expertise standard. The acca headquarters is based in the UK since 1904.
What happens when you get an ACCA certification in finance?
Whether you are fresh out of college or a working professional; the ACCA certificate will always be a gateway to new opportunities.
Employers prefer candidates with an ACCA degree while recruiting for their accounting departments and key roles in the finance industry.
If you own an ACCA degree, you are:
- Granted membership into the reputed body of the ACCA, with over 20,000 industry experts on board. The minimum years required to complete the ACCA exam is three years.
- Your accounting certificate from the ACCA will be valid across the globe in 180 countries. The ACCA has 110 offices in over 51 countries with an impressive 346 approved learning partners (or institutes).
- Massive employment opportunities are available worldwide for an ACCA certificate holder. The association offers over 7600 approved employers worldwide.
What is the CPA?
The CPA stands for Certified Public Accountant. This certificate is considered the most prestigious credential and is from the – American Institute of Certified Public Accountants (AICPA). The AICPA is a prestigious organization established in the USA. The body has a membership of over 428000 worldwide. The course duration for the CPA exam is 18 months.
Why must I choose ACCA over CPA?
- ACCA is accepted as the accountancy standard across the world. The CPA is accepted only within American MNCs and companies within the USA.
- The ACCA has its courses updated annually with the latest modules as per the financial industry standards, making it a better choice.
- The CPA allows you opportunities to work only within the USA. In contrast, the ACCA is accepted as a global standard and opens doors for job roles across the globe.
Depending on where you want to work, settle down, and start a career you can make an informed decision now, between these two certifications. Don’t forget to sign up for academic aid and support through a structured ACCA course. This is to ensure you crack the exam in one go!