ACCA is recognized and respected worldwide, providing you with opportunities to work internationally. Employers in over 180 countries value ACCA qualifications, making it easier for you to secure roles in different parts of the world.
Broad Skillset:
ACCA equips you with a comprehensive skill set beyond just accounting, including strategic and management skills. This broader skill set enhances your employability and prepares you for higher-level roles in finance and business.
Career Progression:
ACCA opens doors to various career paths within the field of accounting and finance. Whether you aspire to become an auditor, tax consultant, financial analyst, or CFO, ACCA provides a solid foundation and demonstrates your commitment to professional development.
Flexibility:
ACCA offers flexibility in terms of study options, allowing you to pursue the qualification while working full-time. You can choose from a range of study modes, including self-study, online learning, or attending classes at approved learning providers.
Continuous Professional Development (CPD):
ACCA requires its members to engage in CPD activities to maintain their membership. This ensures that ACCA professionals stay updated with the latest industry trends, regulations, and best practices, enhancing their competency throughout their careers.
Networking Opportunities:
Through ACCA membership, you gain access to a vast network of professionals and organizations in the accounting and finance industry. Networking can open doors to job opportunities, partnerships, and valuable insights from experienced professionals.
Ethical Standards:
ACCA places a strong emphasis on ethics and professional conduct, which is highly valued by employers. Adhering to ethical principles enhances your reputation and credibility in the workplace, leading to greater trust from clients and colleagues.
Salary Potential:
ACCA qualifications are associated with higher earning potential compared to non-certified professionals. The combination of technical expertise, strategic thinking, and global recognition often translates into competitive salaries and benefits.
Overall, ACCA provides a pathway to a rewarding and successful career in accounting and finance, offering a blend of technical knowledge, practical skills, and professional credibility that can uplift your career prospects, intensifying your decent placements and higher earning potential.
For Further Information/Assistance, Contact Uplift Professionals, an Authorized Learning Partner of ACCA (UK) in India.
Additionally, we invite you to explore our other blogs covering various topics related to the ACCA. Feel free to delve into them at your leisure, tailored to your specific interests:
Although the competition in the finance job market is quite steep, certain globally reputed qualification like that of the Association of Chartered Certified Accountants (ACCA) provides several advantages in the career of a finance and accounting professional.
Global Recognition:ACCA is recognized and respected worldwide, making it a valuable qualification for those looking to work internationally.
Versatility: ACCA equips you with a wide range of skills, not just in accounting but also in finance, audit, and business management, making you a versatile professional.
Career Opportunities: It opens up diverse career opportunities in finance, accounting, and related fields, including roles like financial analyst, auditor, tax consultant, and more.
High Demand: ACCA professionals are in high demand, especially in businesses where financial expertise is essential.
Professional Ethics: ACCA emphasizes ethical and professional behavior, instilling integrity and responsibility in its members.
Flexibility: You can study ACCA at your own pace, making it accessible to those with busy schedules.
Exemptions: If you have prior relevant qualifications, you may be eligible for exemptions from certain ACCA exams, reducing the time it takes to complete the qualification.
Networking: ACCA membership provides access to a vast network of professionals, which can be invaluable for career growth.
Continuous Learning: ACCA requires its members to engage in ongoing professional development, ensuring that you stay updated in your field.
Competitive Salary: ACCA-qualified professionals often command higher salaries than their non-qualified peers.
These advantages make ACCA a well-regarded qualification for those pursuing a career in accounting and finance.
The Chartered Certified Accountant is an internationally recognized professional accounting credential offered by the Association of Chartered Certified Accountants (ACCA), a UK based body. Being a qualified ACCA, an accountant can find his place in various capacities in an organization like Financial Planner, Corporate Financial Planner and Expert, Management Consultant, Investment Banker, Chief Financial Officer, etc.
ACCA Course
The ACCA course has wide coverage of chartered accountancy having its span elaborated to Accounting, Business Finance, Financial Reporting, Auditing, Financial Management, Taxation, etc. The ACCA course has a duration of approximately 1-7 years covering a total of 13 online exams. The entire subjects are divided into 3 levels namely, Knowledge, Skills and Professional where certain exemptions are available at different entry levels.
ACCA Eligibility
The eligibility criteria for ACCA are 10+2 exam pass with minimum 65% as aggregate in Mathematics or Accounts and English while at least 50% in other subjects. Students without the aforesaid qualification must start with the ACCA diploma course for entering the main ACCA course. However, different entry points to the ACCA course are available from graduation also with certain exemptions.
ACCA Syllabus
The ACCA syllabus is divided into 3 parts like Knowledge, Skill and Professional sections which are discussed briefly below:
Knowledge Level
It includes the following topics.
F1: Business and Technology (BT)- It involves the overall knowledge on the structure, governance, and organizational management of the organization from the angle of an accountant in a team-based business scenario.
F2: Management Accounting (MA)- It includes various aspects of cost/management accounting and budgeting.
F3: Financial Accounting (FA)- This includes cost accounting and decision-making techniques, use of business mathematics, computer spreadsheets, etc.
Skill Level
This is an elevation of the Knowledge level that demand application of the knowledge learned with further application of practical financial acumen. It has 6 following papers.
F4: Corporate and Business Law (LW)- Classification of cost with application of cost and decision-making techniques.
F5: Performance Management (PM)- Budgeting, forecasting and performance measurement skills with variance analysis.
F6: Taxation (TX)- Budgeting, forecasting and cost accounting methods in taxation.
F7: Financial Reporting (FR)- Application knowledge of all above parameters and presentation.
F8: Audit and Assurance (AA)- Standard costing and analysis of variance.
F9: Financial Management (FM)- This includes evaluation of risk, capital management, investment, etc.
Strategic Professional Level
This imparts strategic leadership applied skills having 2 parts – compulsory and optional as mentioned below.
Compulsory Part:
P1: Strategic Business Leader (SBL)- Risk management, ethical structure, and value-base judgement, etc.
P2: Strategic Business Reporting (SBR)- Foresight of regulatory changes, reporting issues, evaluation, and application of current and upcoming developments, etc.
Optional Part: One has to select any 2 of the 4 sections mentioned below.
P3: Advanced Financial Management (AFM)
P4: Advanced Performance Management (APM)
P5: Advanced Taxation (ATX)
P6: Advanced Audit and Assurance (AAA)
ACCA Exemptions
Depending on the qualifications, ACCA aspirants can obtain exemptions at various levels of the ACCA exam as discussed below.
Class 12 Pass out: Exempted from Foundation/Diploma course.
Graduates and Post Graduates: Exempted for 4 papers (3 papers from Knowledge and 1 from Skill level. However, there is a recent development. Any B.Com pursuing students from ACCA affiliated Universities will get a 5 papers exemption from Knowledge and Skill levels.
CA Inter: They must write 8 exams out of 13.
CA Qualified: A total of 9 paper exemptions are available for a qualified CA. Thus, they need to sit for only 4 papers at the Professional level.
ACCA Salary
The salary of ACCA varies at different levels. For example, an entry level ACCA qualified accountant can get a salary of 3.5 lakhs on average which can go up to > 9.5 lakhs for an ACCA qualified finance manager.
It has been well established that ACCA is a highly rewarding accounting career for a hard-core finance professional. Since ACCA is a globally accepted, much coveted professional accounting credential, pursuing ACCA is highly worthwhile based on the high value return and the career scope.
ACCA stands for Association of Certified Chartered Accountant is a Chartered Accountant degree which is given by Association of Chartered Accountant with headquarters situated in London. The role of work is related to inspection of accounting services to the public, private entities. CMA stands for Certified Management Accountant and the degree is provided by the Institute of Management Accountants (IMA), USA. The field of work is related to management accounting services with strategic financial management decision making and planning for the companies like small and mid-size firms and MNCs including the big 4s. If the pertinent question arises which course, are you planning to do further, ACCA certification or CMA US exam? Will you be aiming to do both in the future? If you are confused about your plans just have a look in this article.
What is ACCA?
The ACCA or the Association of Chartered Certified Accountants is a body that recognizes the qualification of a CA. ACCA is a global body based in Glasgow UK which works in the interest of the public to ensure that the chartered accountants work according to the principles-based and ensures that the regulations set are properly followed. The ACCA offers the certification in chartered accountancy and the exam known as ACCA is most recognized in the commonwealth countries. The degree was given with the intention to give protection. The ACCA Exam consists of 14 papers and emphasis is given on the core values of integrity, accountability, diversity, and innovations, etc. The degree is accepted globally across 180 countries. The degree has its own reputation of one hundred years and the professionals have provided services to more than 7500 employers across a different field. The 3 important steps of ACCA are applied knowledge (Diploma), Applied Skills (Advance Diploma) and essentials. Both ACCA vs CPA are highly qualified accounting courses designed for professionals who are interested in making a career in Accounting, Taxation, Auditing, and Finance.
What is CMA US?
The US CMA course or certification is offered by IMA® (Institute of Management Accountants) of USA, which is the worldwide association of accountants and financial professionals in business. It was founded in 1919, having 90,000+ members and global reach of 140 countries through 300 professional and student chapters. CMA® (Certified Management Accountant) certification has been the global benchmark for management accountants and financial professionals.
You can now get a professional certification from the USA within 12 – 18 months. The CMA certification is well recognized by all the MNCs, Big 4 audit firms, US Banks, Consulting firms and other BFSI companies having offices in India. This certification from IMA® (Institute of Management Accountants) is on par with the Indian CMA by most employers. CMA certified professionals are observed to get a career and earnings premium. In the US, median total compensation is 28% higher for CMAs over non certified peers. Globally, it is 50% higher. The US CMA certification is more attentively focused in the area of management and cost accounting.
A CMA certification aspirant is more likely to investigate, analyze, risk management and performance management and can work in various capacities ranging from financial analyst to CFO, and very often necessitate formulating major financial decisions for an organization. CMA US is a 2-part online exam where graduation is the academic criterion to take the exam. With dedicated study and quality assistance, the 2-part exam can be cleared in approx. 9 months on average.
CMA US vs ACCA: Application & Qualification
The most significant differences between ACCA and CMA are in the qualifications and the application processes.
CMA US
Steps To Become A CMA USA:
1. Foundational knowledge of economics, basic statistics, and financial accounting
2. Pass both CMA exam parts
3. Bachelor’s degree from an accredited college or university
4. Any major, no course distribution requirements
5. Most CMA candidates hold a degree in accounting or finance
6. May be earned within 7 years of passing CMA exam parts
7. Two years of professional work experience
8. May be fulfilled within 7 years of passing CMA exam parts
9. Active membership in IMA
Requirements to maintain CMA certification:
1. 30 hours of CPE annually
2. CPE must include 2 hours of ethics training
3. Maintain active IMA membership
ACCA
The ACCA entry level is much lower than the CMA. Plus, the ACCA has two entry points depending on your education and experience. The ACCA labels these levels as “ACCA Foundations in Accountancy” and the “ACCA Qualification” level. The foundation level is for people who are new to accountancy and do not have an education threshold. It is also the best place to start for people working in finance but who don’t have adequate education levels or qualifications to apply for higher-level positions.
The exams at the Foundations level test your understanding of basic accounting principles. Basically, the ACCA feels that you should have mastered these topics before going for the ACCA Qualification exams. If you have more experience and/or education, you can start at the ACCA Qualification level. The ACCA’s exact requirements state that you can begin at this level “as long as you have 3 GCSEs and 2 A Levels in 5 separate subjects including Maths and English.” Basically, this means you need a bachelor’s or master’s degree.
However, if you only have a high school diploma, you can begin the ACCA Qualification exams if you pass the ACCA Advanced Placement Examination. This test analyses your proficiency in the material that appears in the ACCA Foundations of Accountancy program. In addition to passing all papers for the ACCA Qualification, candidates must also take the Ethics and Professional Skills module. Additionally, they need to gain 3 years of appropriate work experience before calling themselves ACCA-certified.
ACCA versus CMA US: Exam Content and Format
ACCA
The ACCA Qualification has several smaller exams to pass, called “papers.” The ACCA exam is divided into 13 papers as follows:
Applied Knowledge:
Accountant in Business
Management Accounting
Financial Accounting
Applied Skills:
Corporate and Business Law
Performance Management
Taxation
Financial Reporting
Audit and Assurance
Financial Management
Strategic Professional – Essentials
Strategic Business Leader
Strategic Business Reporting
Strategic Professional – Options (complete 2):
Advanced Financial Management
Advanced Performance Management
Advanced Taxation
Advanced Audit and Assurance
Candidates can apply to waive some papers based on their education levels. Or, they can take the “Certified Accounting Technician Qualification” assessment to waive some papers according to practical experience. However, please note that you can only receive a maximum of nine exemptions for the Applied Knowledge and Applied Skills papers. Plus, you cannot receive any exemptions for the Strategic Professional portions. So, all candidates must sit for those papers. If you think you might qualify for any exemptions, you can use this tool from ACCA Global to find out. Some—but not all—papers are computerized. Furthermore, the exam is offered four times a year at more than 500 testing centers worldwide.
CMA US
The IMA breaks it down like this:
Part 1: Financial Planning, Performance, and Analytics
15% External Financial Reporting Decisions
20% Planning, Budgeting, and Forecasting
20% Performance Management
15% Cost Management
15% Internal Controls
15% Technology and Analytics
Many candidates find Part 1 to be more difficult since it covers more topics and a wider array of subject matter. You can read more about CMA Exam Part 2 difficulty compared to Part 1 if you want to learn more. In general, Part 2 has fewer subjects and units, so many people do consider it easier. Personally, I was more frustrated with Part 2. It seems easier when you look at it, but the questions were not as straightforward as Part 1.
Part 2: Strategic Financial Management
20% Financial Statement Analysis
20% Corporate Finance
25% Decision Analysis
10% Risk Management
10% Investment Decisions
15% Professional Ethics
You will have an average of 12-18 months to complete each part, with 3 years to complete both. Many people sit for the exams in order, taking Part 1 first since it seems the most logical. However, some people think Part 2 will be easier for them, so they register to take it first and get it out of the way. The choice is yours. If you want to review the material a bit more and then decide, that is one option.
Each exam part is four hours in length
100 multiple choice questions, followed by two 30-minute essay scenarios
Exam administered at Prometric testing facilities across India
ACCA Vs CMA US: How Much Time You Need To Pass?
ACCA
Given the number of papers to pass, candidates generally need 3 to 4 years to complete all papers and become ACCA members. Candidates can sit for the papers during four exam sessions held each year. However, candidates can only take four exams per session and a max of eight papers in a year. So, in theory, you could pass all papers in 2 years. But because of logistics issues, most need 3-4 years. Plus, candidates need 3 years of work experience before receiving their ACCA credentials.
CMA US
Most candidates aim to pass the CMA exam within 6 to 9 months. Both the exam parts are independent, so one can take either the 1st or 2nd part as per will. After all, once candidates pass the first of their 2 CMA Exam sections, they must pass the other one within 3 years of registration with the IMA.
CMA US vs ACCA: Which is Easier?
What test is tougher – ACCA or CMA US? Honestly, that depends on what you consider to be tough. Is ACCA harder than the CMA? In some ways, yes. But in other ways, no. Deciding which one is tough – US CMA or ACCA – there are several factors to consider. First, the US CMA has fewer sections (2 exam sections vs 13 papers for the ACCA Qualification). However, the pass rate of both hovers around 50-55% on average.
Recognized in the US and anywhere with US regional offices
Recognized in about 144 countries globally including India
Middle entry barrier: Graduation
Exams offered in 4 windows annually
Maximum 1-2 years to complete
Exam sites in the US + multiple other countries including India
Summing up, Coming to that inherent question, ACCA vs CMA US… Which One Should I opt for? the US CMA is arguably the easier having less duration and being considered as a prestigious management accounting qualification. The CMA US Exam itself has fewer parts than the ACCA — only 2 exam parts compared to 14 papers for the ACCA. Comparatively, CMA US has wider acceptance globally while ACCA is although globally recognized, it is not as highly regarded outside the UK and Commonwealth countries. Cost wise, US CMA is cheaper than pursuing ACCA course.
Furthermore, in CMA US, for college students IMA has provision to offer scholarship which allow complete waiver in all IMA fees. If you want to work in the auditing domain relying on IFRS system, you can opt for ACCA but if your inclination is towards management accounting and want to a part of financial decision-making strategic business development, thus, want a job in MNCs on US GAAP system, US CMA should be your cup of tea.
Salient Features of the US CMA Course:
The US CMA course is a worldwide demanded qualification in Finance.
The US CMA course has just 2 parts.
US CMA exams can be cleared in 7 to 9 months’ time.
Exams are conducted online at the prometric centers.
Typically, the US CMA exams have 75% of the questions as MCQs (objective type) and the rest are Essay questions.
Pass percentage of US CMA courses is globally near-about 50%, Uplift Pro has a pass percentage of more than 70%. We are one the smartest US CMA institutes in India.
Along with providing CMA Study Support, we uplift the soft skills of our students, if required, and help them in getting placed in leading companies in and outside India.
The US CMA course helps professionals to build a career across the globe.
Uplift Pro is a valued CMA study center recognized by the IMA US and Gleim Accounting for training students for the US CMA course. Students of Uplift Pro enjoy special discounts in IMA fees.
A US CMA is respected worldwide to be the decision maker in the industry and formulate robust finance and accounting strategies.
Uplift Pro’s US CMA live online classes are scheduled and designed in such a way you can avail them from your home computer after your regular working hours.
Uplift Pro provides a “Till you pass” guarantee to every student which means once you become our student you may attend our live online classes at no extra cost until you pass.
In case you miss a class, you get the recording of it the very next morning.
You get 1:1 personal support from our experienced CMA certified faculties in class and out of the class in dedicated WhatsApp study groups.
ACCA stands for Association of Certified Chartered Accountant is a Chartered Accountant degree which is given by Association of Chartered Accountant with headquarters situated at London. The role of Work is related to inspection of accounting services to the public, private entities
CPA US course stands for Certified Public Accountant and the degree is provided by the American Institute of Certified Public Accountants (AICPA). The field of work is related to license to accounting services to the public. To maintain the law and procedure these specialized degree holders are required to guide individuals, Small and mid-size firms and MNCs. When pertinent question arises which course, are you planning to do further, ACCA certification or US CPA exam? Will you be aiming to do both in the future? If you are confused about your plans just have a look in this article.
1.What is ACCA?
The ACCA or the Association of Chartered Certified Accountants is a body that recognizes the qualification of a CA. ACCA is a global body based in Glasgow UK which works in the interest of the public to ensure that the chartered accountants work according to the principles-based and ensures that the regulations set are properly followed.
The ACCA offers the certification in chartered accountancy and the exam known as ACCA is most recognized in the commonwealth countries. The degree was given with the intention to give protection.
The ACCA Exam consists of 14 papers and emphasis is given on the core values of integrity, accountability, diversity, and innovations, etc. The degree is accepted globally across 180 countries. The Degree has its own reputation of one hundred years and the professionals have provided services to more than 7500 employers across a different field. The 3 important steps of ACCA are applied knowledge (Diploma), Applied Skills (Advance Diploma) and essentials.
Both ACCA and CPA US course are highly qualified Accounting courses designed for professionals who are interested in making a career in Accounting, Taxation, Auditing, and Finance.
2.What is CPA US course?
The American Institute of Certified Public Accountants (AICPA) holds the Certified Public Accountant (CPA US course) exam which is recognized across the globe for its competence. The AICPA is the largest accounting body in the world and anyone who wishes to work in the US or has to work with US-based clients requires taking the examination held by the AICPA. 55 states in the US have been granted the license to conduct the CPA certified exams. Each state has its own licensing requirements and pattern of the exam as none of them is controlled by any centralized body.
CPA US course can also choose any stream in Finance Field starting from Management Accounting, Financial Analyst, Auditing, Taxation, Finance Controlling, etc. The course itself includes Uniform Certified Public Accountant Examination organized by AICPA and after the exam is passed there are certain procedures which include certain ethics and the candidates have to abide by the regulatory framework guided by the respective governing body.
The professionals are entitled to Audit for Federal and State levels and can act as consultants who could guide several business houses and can act as consultants of several small and mid-size firms, for tax and audit purposes also.
Practical benefits of US CPA course – Becoming a CPA US in India is an aspiration for many finance professionals and accountants. Most CPAs agree that becoming a US CPA completely transformed their career. Please follow the link for further reading.
3. CPA US course vs ACCA: Application & Qualification
The most significant differences between ACCA and CPA are in the qualifications and the application processes.
3.1 CPA US course
For US CPA course candidates must have a minimum of a 4-year bachelor’s degree and preferably a master’s degree to get a US CPA license. Almost all jurisdictions require CPAs to have at least 150 credit hours of higher education, equivalent to 5 years of full-time study (or a US master’s degree).
Before you can even sign up to take the exam, your state board will review your educational background. Then, once you are approved for the exam and receive your Notice to Schedule (NTS), you are on your own to get prepared. It is to be noted that the US CPA exam is a “qualifying exam,” not a “program.” In programs such as the ACCA and CIMA, you can get textbooks from the exam administrator, follow a syllabus, and study accordingly. CPA State Boards do not provide any courses or study materials for the US CPA Exam. In addition to passing the US CPA Exam (and an ethics exam in some states), candidates must also have 150 hours of education and at least one year of qualified experience.
3.2 ACCA
The ACCA entry level is much lower than the CPA US course. Plus, the ACCA has two entry points depending on your education and experience. The ACCA labels these levels as “ACCA Foundations in Accountancy” and the “ACCA Qualification” level.
The foundation level is for people who are new to accountancy and don’t have an education threshold. It’s also the best place to start for people working in finance but who don’t have adequate education levels or qualifications to apply for higher-level positions. The exams at the Foundations level test your understanding of basic accounting principles. Basically, the ACCA feels that you should have mastered these topics before going for the ACCA Qualification exams.
If you’re passing the ACCA exam after CPA, you probably already have this level of knowledge. If you have more experience and/or education, you can start at the ACCA Qualification level.
The ACCA’s exact requirements state that you can begin at this level “as long as you have 3 GCSEs and 2 A Levels in 5 separate subjects including maths and English.” Basically, this means you need a bachelor’s or master’s degree. However, if you only have a high school diploma, you can begin the ACCA Qualification exams if you pass the ACCA Advanced Placement Examination. This test analyzes your proficiency in the material that appears in the ACCA Foundations of Accountancy program.
Unlike the US CPA, once candidates are registered, ACCA takes an active role in preparing you for the exam by providing study guides and sample exam papers. They also maintain a database of ACCA Approved Learning Partners. In addition to passing all papers for the ACCA Qualification, candidates must also take the Ethics and Professional Skills module. Additionally, they need to gain 3 years of appropriate work experience before calling themselves ACCA-certified.
4. CPA US course vs ACCA: Exam Content and Format
4.1 ACCA
The ACCA Qualification has several smaller exams to pass, called “papers.” The ACCA exam is divided into 13 papers as follows:
Applied Knowledge
1. Accountant in Business
2. Management Accounting
3. Financial Accounting
Applied Skills
1. Corporate and Business Law
2. Performance Management
3. Taxation
4. Financial Reporting
5. Audit and Assurance
6. Financial Management
7.Strategic Professional – Essentials
8. Strategic Business Leader
9.Strategic Business Reporting
Strategic Professional – Options (complete 2)
1. Advanced Financial Management
2. Advanced Performance Management
3. Advanced Taxation
4. Advanced Audit and Assurance
Candidates can apply to waive some papers based on their education levels. Or, they can take the “Certified Accounting Technician Qualification” assessment to waive some papers according to practical experience.
However, please note that you can only receive a maximum of nine exemptions for the Applied Knowledge and Applied Skills papers. Plus, you cannot receive any exemptions for the Strategic Professional portions. So, all candidates must sit for those papers. If you think you might qualify for any exemptions, you can use this tool from ACCA Global to find out. Some—but not all—papers are computerized. Furthermore, the exam is offered four times a year at more than 500 testing centres worldwide.
The exam is 100% computerized consisting of multiple-choice questions and task-based simulations (similar to case studies). BEC has an additional section for written responses or short essays called Written Communications.
Grading is mainly computerized, even for written communications. You can choose to take the 4 parts separately, 2 at a time, or even 4 at the same time. Although you had to wait for specific “CPA testing windows” in the past, you can now sit for the exam any time during the year. You take the exam at Prometric testing centres, which are located throughout the US and several other countries including India.
US CPA Exam 2021 – New Updates In 2020, the US CPA exam in India had few changes; the most prominent change was the introduction of the CARES Act to the REG section effective in Q4 2020. In 2021, the US CPA Exam will undergo additional changes, mainly to the AUD & BEC sections, with minor revisions to the remaining two sections – FAR & REG….continue reading
5. CPA US course vs ACCA: How Much Time You Need To Pass?
5.1 ACCA
Given the number of papers to pass, candidates generally need 3 to 4 years to complete all papers and become ACCA members. Candidates can sit for the papers during four exam sessions held each year.
However, candidates can only take four exams per session and a max of eight papers in a year. So, in theory, you could pass all papers in 2 years. But because of logistics issues, most need 3-4 years. Plus, candidates need 3 years of work experience before receiving their ACCA credentials.
5.2 CPA US course
Most candidates aim to pass the US CPA exam within 12 to 18 months. After all, once candidates pass the first of their 4 US CPA Exam sections, they must pass the other 3 within 18 months. Candidates who have the time and commitment to study can take all exam parts in one go.
In that case, you can complete the exams within 3 to 6 months. However, please note that this timeframe requires a substantial study commitment. If you might go this route, I suggest reading about how long it takes the pass the US CPA Exam.
How to surmount the US CPA exam – the integral steps |Uplift Pro :-The unified US CPA exam in India conducted by AICPA is the gateway to achieve the hallmark in public accounting in a global perspective. The strategic steps to pass the US CPA exam in India include…continue reading…..
6.CPA US course vs ACCA: Reciprocity and Exemptions
6.1 ACCA
If someone is already a CPA, can they become an ACCA member? Well, ACCA is more generous in this regard — ACCA grants exemptions to AICPA members for several of the papers. If you are a holder of the US CPA credential, you are subsequently a member of the AICPA. Moreover, AICPA members may be able to skip the Foundations of Accountancy papers. You can check out the exemptions CPAs will receive who are interested in becoming ACCA members.
6.2 CPA US course
The US has mutual recognition agreements with 8 accounting bodies in the world. To gain a US CPA license, their members can take a simplified version of the US CPA exam known as the IQEX. However, please note that the ACCA is not among these 8 accounting bodies. Therefore, there is not an MOU for CPA, and ACCA and ACCA members do not qualify for CPA exemptions. So, if you hold an ACCA certification, you are MUST complete the CPA requirements, including 150 hours of college education (5 years).
Many ACCA members have passed the US CPA exam. However, since ACCA does not have a recognition agreement with either the National State Boards of Accountancy (NASBA) or the AICPA, ACCA members with advanced degrees find it less challenging to qualify to sit for the US CPA Exam. ACCA members with master’s degrees or higher must also have a minimum number of accounting and business courses (this number will vary by jurisdiction, and there are 55 in the United States).ACCA members without advanced degrees will need to seek education from a degree-granting institution.
7. CPA US course vs ACCA: Which is Easier?
What test is tougher– ACCA or CPA? Honestly, that depends on what you consider to be tough. Is ACCA harder than the CPA? In some ways, yes. But in other ways, no. Deciding which one is tough – US CPA or ACCA – there are several factors to consider.
First, the CPA US course has fewer sections (4 exam sections vs 13 papers for the ACCA Qualification), but they are all hard. In fact, the US CPA pass rate hovers around 45-55%. Likewise, the ACCA estimates their mean pass rate is about 55%. However, CPA candidates can benefit from studying with a review course. Such review courses are now also available for ACCA.
1. Recognized in the US and anywhere with US regional offices
2. 55 jurisdictions with complex licensing requirements
3. High entry barrier: master’s level and/or 150 hours of higher education
4. Exam offered year-round
5. Exam sites in the US + multiple other countries
6. 4 parts
7. 12-18 months to complete exam, plus an additional 1+ years of work experience (more in some jurisdictions)
Conclusion
Coming to that inherent question, ACCA vs CPA… Which One Should I opt for ACCA vs CPA ? The US CPA is arguably the most prestigious accounting qualification.
The entry barrier is high with an equivalent of a master’s degree together with strict working experience requirements. Because of these stricter requirements, the CPA Exam itself has fewer parts than the ACCA — only 4 sections compared to 14 papers for the ACCA. Some jobs can only be performed by a CPA. For example, only CPAs can sign audit reports under the US GAAP standards. Besides, only CPAs can launch a CPA firm in the US. Therefore, the CPA title has distinct advantages if you are interested in public accounting in the United States or American firms.
For ACCA, the application process is much simpler, and the entry barrier is lower than the CPA. However, it takes years to complete the studies and obtain membership. While ACCA is globally recognized, it is not as highly regarded outside the UK and Commonwealth countries
About the top CPA US Course training institute in India, Africa, and Middle East – Uplift Pro
Uplift Pro is one of the top training institutes for the US CPA, US CMA, US CIA, Enrolled Agent US, ACCA UK courses in India, Africa, and Middle East. Our team consists of seasoned professionals and entrepreneurs from IIEST, IITs, London Business School, and ULCA who have decided to provide a strong backup to young ambitious students and professionals to reach their desired career destinations in an organized way.
Uplift Pro, is an authorized partner of Gleim in India, provides you with authentic Gleim materials, updates and Live Online Interactive Classes for CPA US by internationally experienced veteran mentors. All at an Indian Cost.
