The age old ACA vs ACCA question

Makkusu

I'm in the process of deciding what to study at the moment, I'd like a bit of knowledge/perception on the two qualifications if possible. One major benefit for me is the AAT to ACA fast-track course to get me qualified in 2 years.

I work in practice and they're ICAEW registered, however we have around 20 ACCA students and not a single ACA (ok, there may be one). Whilst my company are supportive of it's employees career/study paths the general consensus I get from colleagues is a bemused expression which basically says... 'Why would you even consider ACA when ACCA exists?'. -.-

To them, ACCA is:
More globally recognised (is it?)
Much easier than ACA, although nearly identical (...what? even if that did make sense ACA pass rates are higher)
More popular (is that a good thing?)

I like statistics and I read a lot about ACA members commanding higher salaries, making up over 50% of the FTSE 100 directors, being better for auditing, better if you want to work in practice whereas ACCA is better if you'd like to work in industry.

My question is, how much of this is actually true or the least bit meaningful once qualified? I know 1 person who is studying towards ACA and god knows how many ACCA students, do people shy away from the 2-3 year training contract commitment and want a more laid back, safer looking study experience?

Even on this forum I see lots of ACCA, what made you guys chose one over the other?

Please help, my mind is edging towards ACA - maybe it's that memory of admiring the qualification as a child - I just need a bit more knowledge to make my decision.

Regards,

Makkusu

NeilH

Hi

ACCA is often put forward as being globally recognised in that they have more students and members globally than the ICAEW, but that might only be of relevance if you want to work elsewhere in the world. Also, most countries have their own accountancy bodies anyway so even if you were to work abroad, having the ACCA wouldn’t necessarily put you in a better position. I work with ACCA and ACA qualified accountants and one qualification isn’t considered harder than the other. In terms of popularity, ACCA have more student and members (I believe there are more outside of the UK than in the UK). As for employer recognition, some employers may have preference for one qualification over the other but it’s a pretty even recognition for each.

As for ACA commanding higher salaries, it's there career path that has got them where they are/the salary they earn, they happened to take ACA as part of that career path. As an example; studying the ACA could be part of working for the big 4 and it's training/working in these big firms that can give people a route to the top.

You mention that ACA pass rates are higher. Practice training roles often give more in the way of study support (course, leave etc.) and put the pressure on to pass - pass or "leave". Virtually all ACA trainees work in practice whereas ACCA trainees work in practice (getting the study support) and industry (getting anywhere between no study support what so ever or all the courses and leave necessary), so it could be this varying study support that affects the ACCA pass rates.

ACCA is more flexible in that you can work anywhere, longer period to complete the exams, flexible study etc. As I mentioned, some employers may prefer one qualification over another but once qualified overall you shouln’t find that one gives an advantage over the other.

Neil

Aditi

You’ve made some excellent points about the global recognition, flexibility, and employer preferences for ACCA and ACA qualifications. Both have their merits, and it often comes down to the career path a person wants to pursue. I am at ATX level and cleared my ATX exam. Although it was a very difficult exam but I was able to clear it with the help of ATX mock exams videos.