ACCA Vs. EA - A Complete Comparison

ACCA is a prestigious finance course with a well-rounded appeal. It is often the top choice among students after completing 12th grade. Some students who are curious about consulting and tax planning frequently choose the career of an Enrolled Agent (EA), which is also a plausible career option. Both are globally acknowledged designations with several differences. Here is a complete ACCA vs. EA comparison to help you know. Read on.

Key Takeaways

• What is EA?

• What is ACCA?

• ACCA vs. EA: A Comparative Study 

• Career Options

What is EA?

The EA credential can prove crucial for students who want to join the Tax and Accounting domain. To get the EA licence, candidates have to take an exam that is conducted in 3 parts. It is a comprehensive exam that tax preparers need to pass to be an Indian Revenue Service (IRS) EA. Once all three exams are passed and the other requirements are completed, the EA designation is conferred on those who pass successfully. This is the highest credential that candidates can get from the IRS.

EA professionals get more tax preparation and representation rights than tax preparers who lack the designation. Those without EA can only represent those clients for whom they have prepared tax returns. However, EAs can represent clients in different matters before the IRS. These matters include:

• Excise Taxes
• Employment Taxes
• Estate and Gift Taxes
• Income Taxes

What is ACCA?

ACCA qualification is a professional accounting course that has great weightage in the global accounting and finance industry. ACCA students can venture into the accounting world with confidence. Is the increased demand for accountants globally in giant corporations luring you to take the ACCA program? ACCA is a globally recognised professional accounting qualification that many students pursue after 12th. Some students are pursuing the ACCA qualification with a B.Com degree to progress at a faster pace on the professional front.

The need for a well-rounded accountancy professional across different industries has made the ACCA course higher in demand. The curriculum and exams make a candidate knowledgeable in finance, and the knowledge-application acumen is tested variedly in the thirteen exams. An ACCA holder's technical knowledge and professional ethics can easily make them command a prestigious job title in audit firms or any industry. 

ACCA vs. EA: A Comparative Study

Both the ACCA and EA licence holders can dominate the finance and accounting domain in various job roles. Here is a detailed comparison to help you choose between ACCA and EA:

Exam Pattern

There are thirteen examinations broken down into 3 levels in ACCA, which students have to prepare for and crack to qualify. The three levels are divided into:

• Applied Knowledge
• Applied Skill
• Strategic Professional

These cover various subjects in accounting and finance- from management accounting and financial accounting to taxation, business law, audits, and more. Almost every avenue in the realm of finance is covered. Candidates can go for online exams at their convenience.

The EA exam is inclusive of three parts:

• Taxation And Individuals
• Taxation And Businesses
• Representation, Practices, And Procedure

This exam is called the Special Enrollment Examination, SEE.

 

Subjects Covered

ACCA is a professional accounting certification that covers different aspects of business management, finance management, taxation, auditing, and accounting. Candidates can get thorough knowledge of various financial practices and principles. When students prepare for 13 exams, it shows how broad and wholesome the knowledge-acquiring process is. From knowledge absorption and honing skill sets to strategic and analytical thinking, ACCA certification makes students job-ready at a young age if pursued after 12th grade. 

In the case of EA, there is a specific focus on representation before the IRS, tax preparation, and tax law. The first part of the exam deals with subjects that would make candidates prepare topics related to individual taxpayers, their income and asset evaluation, advising them, taking track of returns, and more. The second part of the exam focuses on businesses and lets one grasp taxation revolving around businesses. The third part of the exam is about the practical application of the knowledge to prepare and deal with tax filing, representation, and more. 

So, now you got to know about the subjects you need to learn when pursuing ACCA or EA. 

Career Options

ACCA professionals can find different career opportunities in the finance industry. They can pursue various roles, like:

Finance Manager Senior Accountant Financial Analyst Management Accountant Financial Controller Audit Manager Chief Financial Officer Senior Financial Analyst Accounting Manager Audit Associate

On the other hand, once you become an Enrolled Agent, you can work as:

• Tax Consultants
• Tax Advisors
• Tax Preparers

or can also represent clients before the IRS.

While analyzing the differences between EA and ACCA job roles, it is understandable that ACCA provides more job options.

Eligibility Criteria

• A candidate must have passed high school before obtaining the ACCA qualification. However, there may be exemptions based on prior professional qualifications. This means you can skip certain ACCA papers if you are a qualified CA or are in CA finals. ACCA is easier than CA.
   
• To become­ an enrolled agent, candidates need not fulfill specific educational or experience requirements. Howe­ver, a Preparer Tax Ide­ntification Number (PTIN) is a necessity.
  
  

Fees

The initial registration course fee for ACCA needs to be paid once and it is not inclusive of the annual membership fees. 

In the case of EA, the exam fee is divided part-wise and needs to be paid during appointment scheduling. PTIN fees are not a part of the exam fees, and candidates need to pay separately for the same. 

Criteria	ACCA	EA
Career Options	Auditor, Financial Analyst, Tax Consultant, Business Advisor etc.	Tax Consultant, Tax Advisor, Tax Preparer, Representation before the IRS etc.
Eligibility	High school diploma or equivalent (Exemptions based on prior qualifications)	There are no specific educational requirements. Candidates need a PTIN and must undergo a background check.
Fees	A student might incur approximately INR 4,00,000.	A student might incur INR 1,50,000 - INR 2,00,000 approximately.
Salary	ACCA freshers have a higher pay scale than EA freshers.	Though there is scope for extra compensation, the entry-level salary is lower than an ACCA.

Why Start Your ACCA/EA Journey with An Online Coaching Centre?

Online coaching centers like NorthStar Academy can easily help you get past the comprehensive ACCA or EA courses and pass the exam with flying colors. 

Your Study Time Gets Flexible 

The vastness of the syllabus, exams, and curriculum can often seem overwhelming. An online coaching center lets you plan your day and study hours while keeping in mind your preoccupations on the professional and personal fronts. You can study as per your schedule. The curriculum is always fine-tuned as per the latest updates and changes in the syllabus. 

Best Study Materials 

When candidates are offered the best course materials for studying, they get more motivated. Many difficult concepts, topics, and subject matter are broken down in such grasping manners with the help of supporting materials, real-life examples, and case studies that comprehension of the topics at hand never becomes an issue. The lectures, captured in videos and audio formats that can be accessed time and again, ensure a rich knowledge-acquisition session. Sample papers, previous year papers, mock tests, and revision kits all ensure that a candidate can easily track the progress graph. 

Quality Educators 

When you choose an online coaching center with certified instructors and mentors, you can help with your studies in every way. Whether fighting your anxieties, doing away with exam fear, or eagerly understanding subject matters that you once thought were not your cup of tea, you can just clear doubts instantly. There are online webinars, live chat sessions, and one-to-one personalized sessions—can you ask for more?

Conclusion

After comparing the Association of Chartered Certified Accountants and Enrolled Agent courses, both courses look promising. Deciding which course is better depends on your career aspirations. You must buckle up and devote long hours of study to crack the exam of your choice. Regardless of the course you opt for, getting proper exam guidance from a top-notch online coaching center such as NorthStar Academy is a good idea. The top mentors have rich field experience and have helped innumerable students crush the ACCA or the EA exam. Consult now and enroll to accelerate your career. Center