ACCA vs CPA: What is course right for you?

Two well-known professional accounting credentials that are accepted everywhere are CPA (Certified Public Accountant) and ACCA (Association of Chartered Certified Accountants). Despite the fact that both certifications are centered on accounting and finance, there are some significant variations between CPA and ACCA. Here is a comparison between the two:

1.Geographical Focus

CPA: The United States is where the CPA qualification is primarily recognized and governed. State boards of accountancy are responsible for administering it, and each state has its own set of standards for CPA license.

ACCA: The ACCA certification is available in more than 180 nations and is widely recognized. It offers a worldwide viewpoint and is especially well-liked in Europe, Asia, and other regions of the world.

2.Educational prerequisites

CPA :Candidates for the CPA designation normally need a bachelor's degree or higher in accounting or a closely related profession. Additionally, they must fulfil particular credit hour demands for business and accounting courses.

ACCA: Candidates for the ACCA qualification are not required to have a specific degree, but they are expected to have a certain level of education. It gives exemptions for some academic credentials and permits flexibility in terms of educational background.

3.Focus on the Work:

CPA: The Generally Accepted Accounting Principles (GAAP) and U.S. tax regulations are the main topics of the CPA certification. It equips accountants with the skills necessary for careers in public accounting, auditing, taxation, financial reporting, and related industries under American law.

ACCA: The ACCA certification covers a wide range of topics, including International Financial Reporting Standards (IFRS), and has a more global viewpoint. It equips accountants for professions in a variety of fields such worldwide accounting, auditing, taxation, financial management, and consulting.

4.Examination Design:

CPA: There are four areas of the CPA exam: Regulation (REG), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Auditing and Attestation (AUD). These tests evaluate a candidate's knowledge and abilities in various accounting-related fields.

ACCA :Multiple papers grouped into fundamental and professional levels make up the ACCA test. The professional level concentrates on advanced themes and offers alternatives to specialize in fields like taxation, while the fundamental level covers crucial accounting and financial issues.