I am currently working in a small practice and have the opportunity to study either ACA or ACCA?
I have a Business degree 2:1, Ok ish Alevels.
My problem is which one? I have heard a lot of arguments for and against but I cannot decide?
I know this is a little Vague and that this area has been covered before but any help would be gratefully appreciated
Will Wood
Replies (5)
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It is up to you
I am ACA qualified, from a big 5 firm (previously). I now work in a smaller practice as the Training Co-ordinator, hence I advise on this regularly and at the end of the day the route is for you to decide.
I feel that it does depend on how you study and what type of exam you like to sit (off the wall questions vaguely related to your study - ACA, more predictable bitesize route ACCA). Different people find different exams easier.
The perception that ACA is better exists, and it is reflected in salary studies. ACA earns more and is better respected, and is snobbier. Furthermore the FTSE FDs is dominated by ACAs, although I suspect this is placement by big 5 rather than any other specific reason.
That said once qualified it is up to you to open the doors to utopia (if such a thing exists in the accounting profession), not your qualification. I have audited very big companies where the main financial accountant is ACCA, proving that if you have the get up and go, and can match it with talent, you take either qualification and go a long way.
Wrong way round?
ACCA - Associate member of the Chartered Association of Certified Accountants aka Certified
ACA - Associate member of the Institute of Chartered Accountants in England and Wales aka Chartered
Historically (and for no good reason other than perception and predjudice) the chartered qualification has been seen as more prestigious than the certified. Are you asking whether going for the certified qualification will hold you back? I can't answer that, nor can anyone else. I would argue that it shouldn't, but it might.
Both qualifications are highly regarded. The work experience won't be any different, so you are down to subtle differences in perception. Whatever these may be now, they might have changed by the time you're qualified.
Or you may decide to throw the whole lot in and become a roadie for a rock band.
Or the earth may have been demolished to make way for an interstellar bypass...
Substance over form?
There is a perception that the ACA is a superior qualification to the ACCA. Despite the fact that I am a chartered accountant, I don't hold with this. Never-the-less the perception persists.
Depending on how you intend to study and pay for the tuition, you may find the ACCA more flexible.
Both are very worthwhile qualifications. Oncew you've qualified, your skills, personality and experience will be more important than any differences in the qualification.