ACCA vs CA

[Pracs]

Well, it is rather interesting to read what both sides have to say, it may sound like crap but I guess we must respect each other’s point of view and in order to respect that one must have the strength of tolerance.

Lets bring about a moderate stand here, I guess I am qualified to do that since I am both an ACA and an ACCA. Yeah I am one of those fellows who got through on the easy turf, some of my colleagues referred to my qualifying as a CA via Bhatinda. Suffice to say I have sat the maximum number of papers to pass my CA (since it includes the ACCA stuff too.)

Degrees or Qualifications have a basic ‘cap’ say if you are a B.com you can definitely be an accounts clerk, that is a Universal truth but if you have the brains and the opportunities you may end up as a financial controller. Similarly just because you are a CA does not make you or your kind for that matter superior to an ACCA or an ACMA etc. The ground realities at this point of time in Pakistan are that the finance professional hierarchy is something like this CA, ACCA, ACMA. There are socio economic reasons behind it and has nothing to do with which qualification is smarter! Since ICAP has been around for more than any one else, has the legal backing (the only professionals to be able to practice) and have the logistics (most finance big wigs in Pakistan are members of ICAP), it may have to do with the quantity factor too there are only 3,337 approx. CA’s (ICAP) out of these around 584 are overseas, you do the math. Lets compare it with India where ICAI has over 100,000 CA’s of these around 2,000-3,000 alone work in the UAE. Ok the Indians are 8 times our number, lets do some more math we should still have 12,500 CAs, you’d say they are more economically advanced than us, OK even if I reduce this figure by 25% we still need 9,000 CAs. If ICAP doesn’t produce them ACCA will, give ACCA another decade, let WTO role in and I am pretty sure that the powers to be will allow ACCAs to practice ! ACCA’s already got the Pakistani variants right.

I have worked with ACCAs, CPAs (Americans), CAs from India, UK, South Africa, Canada and ofcourse Pakistani CA’s. I know ICAEW CAs who cannot consolidate, cannot prepare a mildly complicated cash flows, Indian CAs who need major writing skills, American CPA’s who need to be trained and thought accounting all together. Then of course you meet and work with people and they amaze you. What is important is how you were TRAINED and WHERE you were trained, how did you actually pass the exam? did you actually develop any skills and do you know how to apply knowledge a combination of all this makes you what you are !

Of course brands are very important, I was hired by a Big 4 in the Gulf based on my ACCA (my CA result was still in the offing and my employer was least concerned. All they cared was that I was Big 4 trained and an ACCA).

I’d say CA may be tough to pass, but ACCA has a more comprehensive syllabus. Then again its important who you want to be. The day you say I know every thing, you know nothing.

Regards