ACCA and CA are both great choices for building an accounting career, but ACCA has more to offer when you do ACCA after CA. You can do ACCA after CA due to the Mutual Recognition Agreement (MRA) signed by ACCA, the accounting body of the UK, with the ICAI, the accounting body of India. It allows Indian CAs to be recognized internationally after completing the ACCA course while enhancing many of the professional spheres of work for CAs. Here's a list of the top 5 reasons for you to do ACCA after CA.
Global Recognition
ACCA is an internationally recognized accounting and finance certification, while CA is limited only to India. It gives candidates an edge when they want to do ACCA after CA. Being a globally recognized certification, the ACCA enables certified candidates to be eligible to work at the Big 4s and most of the multinational companies and organizations in the world requiring financial and accounting services. CA-certified candidates can only work within India in firms and organizations which hire Indian CAs. ACCA's international credential in over 180 countries allows ACCA-certified professionals to find relevant job roles in many developed and developing nations like the UK, UAE, Singapore, and many more.
Exemptions
When it comes to the exams when you do ACCA after CA, ACCA recognizes the skills and knowledge which you have already accumulated thus far in your years of education. Therefore, candidates need to clear fewer papers out of the total 13 papers due to the exemptions that can be availed if candidates do ACCA after CA. CA IPCC students (Foundation and Intermediate) are exempted from appearing in 5 ACCA exam papers, while CA Final students can avail of exemption for up to 9 papers. It makes it easier and faster for candidates to clear the ACCA certification exam after CA.
Duration
Normally ACCA allows candidates to clear all the levels of the ACCA certification exam within ten years of registration, although it takes around 2 to 3 years to clear all three levels of the ACCA exam. However, when you opt to do ACCA after CA, the option to avail exemptions reduces the amount of time required to clear the ACCA exam by several months. You can then clear the ACCA exam well within just 18 months. If you enroll yourself in an ACCA coaching institute, you can have a holistic preparation for the exam and pass the ACCA exam within 12 months.
Job Opportunities
As already discussed, the ACCA is a globally recognized certification that allows ACCA-certified professionals to work in the Accountancy domain in over 180 countries around the globe. ACCA-certified professionals are hired by the Big Fours and many of the leading accounting firms like EY, PWC, KPMG, Deloitte, Grant Thornton, etc. Many multinational companies like Accenture, IBM, Oracle, UBS, Barclays, etc. also have a higher tendency to hire ACCA accounting professionals, giving Indian Chartered Accountants the ability to work at an international level, which was nearly impossible with CA alone. There are several Indian companies that continue to hire certified ACCA professionals, including TATA Group, Hindustan Unilever, WNS, etc.
Salary Benefits
The earning potential of individuals who do ACCA after CA increases manifold. As ACCA-certified professionals are hired by the Big 4s and the top MNCs and organizations worldwide, the demand for ACCAs and the salary packages offered to ACCAs are high. The demand for ACCA has skyrocketed over the past decades, giving students all the more reason to do ACCA after CA. On average, the annual salary of ACCA in Indian valuation is around INR 8 lakhs to INR 9 lakhs. On average, candidates with only CA credentials can earn up to INR 6 lakhs to INR 7 lakhs per annum. tel:+918147470707
