CA VS ACCA

Understanding CA and ACCA

In the following we have compared these two degree, from introduction to duration and career opportunities everything has been provided on this page:

What is CA? 

CA (Chartered Accountancy) is a prestigious qualification offered by numerous universities and Institutes across Pakistan. It is highly valued degree for Pakistanis students and it is also a globally recognized degree for producing expert accountants, auditors and financial consultants. CA focuses on in-depth accounting and auditing knowledge. It also includes rigorous theoretical and practical training through mandatory internships with ICAP approved firms. It offers high recognition in Pakistan's corporate and governmental sectors.

What is ACCA? 

ACCA (Association of Chartered Certified Accountants) is a globally recognized qualification and also really famous in Pakistan. It provides extensive knowledge of finance, accounting, and business management with an international perspective. ACCA is designed for students seeking global career opportunities, it is more flexible in terms of study patterns and exemptions. It is internationally recognized degree, accepted in over 180 countries, making it ideal for students aiming to work abroad.

Duration and Structure

Both, CA and ACCA programs have different duration and study structure, with different training periods too. Following is the comparison of both:

CA (Chartered Accountancy):

• CA typically takes 4 to 5 years to complete in Pakistan. 

• It consists of 4 stages; CAF, AFC, CFAP, and MSA. 

• It also includes a mandatory 3.5 year training period with an audit firm. 

ACCA (Association of Chartered Certified Accountants): 

• In Pakistan, ACCA can be completed usually in 2 to 3 years. 

• Comprises 13 exams across three levels; Knowledge, Skills and Strategic Professional. 

• Practical Experience Requirement (PER) is 36 months but can be completed in any relevant job. 

Recognition and Career Opportunities 

CA: 

• Highly regarded in Pakistan and considered as the ideal degree for accounting and finance roles. 

• Preferred for high level positions in Pakistani organizations, particularly in auditing and taxation.

ACCA: 

• Offers international recognition and job flexibility. 

• It is highly sought after in multinational corporations, financial institutions and consultancy firms globally.

Cost of Education

Chartered Accountancy:

• In Pakistan Relatively affordable, especially for Pakistani students. 

• The total CA fee in Pakistan range from Rs. 400,000 to Rs. 500,000, excluding living expenses during training. 

Association of Chartered Certified Accountants:

• Slightly more expensive due to its authorization with the international organization. 

• ACCA fee in Pakistan typically range from PKR 600,000 to PKR 900,000, including registration, exam fees, and study materials.

 Flexibility in Study 

CA: 

• Requires students to follow a rigid training and exam schedule.

• Best suited for those who can dedicate themselves full-time to studies. 

ACCA: 

• Offers more flexibility; students can study at their own pace. 

• Ideal for those who can manage studies with part-time jobs.

Exemptions for Pakistani Students 

Students who have completed certain qualifications, like a B.Com or MBA, may be eligible for exemptions: 

• CA: Limited exemptions based on prior qualifications. 

• ACCA: Offers more generous exemptions, particularly for students with relevant degrees. 

Who Authorizes CA & ACCA in Pakistan?

In Pakistan, CA (Chartered Accountancy) programs are authorized and regulated by the Institute of Chartered Accountants of Pakistan (ICAP). ICAP is the sole professional body responsible for authorizing chartered accountancy in Pakistan. 

ACCA (Association of Chartered Certified Accountants) programs in Pakistan are authorized and regulated by the global ACCA organization with headquarter in the United Kingdom. This international body sets standards for training, ensuring alignment with global professional requirements. 

How Pakistani Students Can Benefit from CA and ACCA

Advantages of CA:

1. Local Demand: CA is more valued in Pakistan’s local job market for high level positions in top firms. 

2. Practical Training: The mandatory training period provides hands-on experience and networking opportunities to the students. 

3. Affordable Option: CA fee is relatively low in Pakistan as compared to other countries, making it easily affordable for wishful students.

Advantages of ACCA:

1. Global Recognition: ACCA is perfect for students planning to work abroad or with multinational companies in Pakistan. 

2. Flexibility: Suitable for students who can balance work and studies together. 

3. Specialized Career Paths: Provides expertise in international finance and business management with hands-on experience and trainings.

Which One Should You Choose?

Both programs, CA and ACCA are excellent choices for Pakistani students, offering rewarding careers in accounting and finance. The decision depends on your career ambitions, financial considerations and flexibility needs. Whether you aim to grow your career locally or pursue job opportunities abroad, both pathways provide the tools for success in the dynamic world of finance and accounting. Following are the aspects to consider while choosing your professional accounting and finance degree:

Choose CA If: 

• You aim for a career in auditing, taxation or finance field in Pakistan. 

• You are willing to commit to a focused and well-thought-out program. 

• You prefer an affordable, locally recognized degree to pursue your dreams. 

Choose ACCA If: 

• You seek to work in accounting and finance filed, internationally or with multinational firms in Pakistan. 

• You need a flexible study schedule. 

• You value a globally recognized qualification with a diverse career scope and possibilities.