ACCA – Association of Chartered Certified Accountants (2024)

FAQs

Is ACCA chartered or certified accountant? ›

ACCA is the Association of Chartered Certified Accountants.

We support 241,000 members and 542,000 future members throughout their careers.

The ACCA curriculum has no scope for such education in reference to the US system of accounting. That's why ACCA professionals do not have the signing authority or even the working expertise in the USA. Working in the USA as an Accountant requires a License, obtained through another certification known as the US CPA.

Both ACCA and CPA are prestigious accounting certifications that offer excellent career prospects. While ACCA provides a broader global perspective and is recognized in numerous countries, CPA focuses on U.S. accounting principles and regulations, making it ideal for those interested in working within the U.S. market.

Commonly the CA course is considered to be harder than ACCA, considering the number of years, the number of papers, course levels and versatility of both courses. Finplan ACCA institute makes it easier to clear ACCA examination, over 1000+ ACCA students clear their examination with good marks.

There are various factors to consider when it comes to understanding the difficulty levels of ACCA vs CPA. Both examinations are challenging and need hard work and diligence to clear. While the average pass rate for ACCA is around 55%, for CPA, the percentage is around 40-50%.

The ACCA Qualification is broadly equivalent to degree standard when you take the first nine papers (the Fundamentals level). When you take the Professionals level, it is equivalent to a masters degree.

Unfortunately, there is no quick route for ACCA members to obtain the US CPA. In order to obtain your US CPA qualification, you will need to sit for the CPA exam and pass the four-part exam.

A CPA stands for Certified Public Accountant. A CPA is a statutory designation for qualified accountants in the United States who have passed the Uniformed Certified Public Accountant Examination and have met additional state education and experience requirements.

ACCA has a reputation for excellence globally. With ACCA certification, you can expect to work in different parts of the world as an accounting and finance specialist or in related roles. The certification is accredited globally and accepted by almost 170+ countries worldwide.

Absolutely, ACCA is recognized in over 180 countries, making it one of the most globally recognized accountancy qualifications.

How long does it take to complete ACCA? ›

You could therefore complete all of the exams in two years. However, as you also need three years practical experience before you can become an ACCA member and be considered a qualified accountant, the qualification takes a minimum of three years to complete.

ACCA is challenging due to its comprehensive syllabus and rigorous exams. It's considered slightly less difficult than the CA qualification but on par with CPA and CIMA in terms of challenge.

So what are some of the reasons leading to a low ACCA pass percentage? The first reason is the amount of study hours that are necessary to understand and remember all the course content. The more knowledge you possess of each subject, the higher your chances are of passing.

Through ACCA's UK and Irish framework recognition the ACCA Qualification Strategic Professional is recognised as Masters degree level throughout the European Union.

The term 'chartered certified' is legally protected and to become a chartered certified accountant you must have successfully completed the ACCA Qualification and become an ACCA member. You'll also need three years' relevant work experience, which can be done while you're studying for the qualification.”

Members of ACCA may be either members or fellows, and both are entitled to use the professional designation 'Chartered Certified Accountant' or 'Certified Accountant'. They may also use the designatory letters 'ACCA' or 'FCCA' respectively on business stationery.

Test of Relevant Expertise (TRE) route

ACCA members who have at least seven years of continuous membership post-qualification of ACCA can become a CA through completion of a competency-based self-assessment consisting of five questions that use a holistic, attribute-based model set as outcomes.

The ACCA Qualification is the world leading accountancy qualification for aspiring financial professionals - providing students with the skills, knowledge and values to have successful careers and lead the organisations they work with into the future.