What is the Difference Between CPA and ACCA?

The main differences between the CPA (Certified Public Accountant) and ACCA (Association of Chartered Certified Accountants) qualifications are their focus, geographical scope, and recognition. Here are the key differences between the two:

1. Geographical Focus: CPA is primarily recognized within the United States, while ACCA has a more extensive global reach, with recognition in numerous countries.
2. Recognition: ACCA is a globally recognized professional accounting qualification, renowned worldwide, and holds Mutual Recognition Agreements (MRAs) with several professional accounting bodies. CPA is a US-based license and is highly regarded within the United States, but its application outside of the US may vary depending on the country's regulations and requirements.
3. Course Structure: ACCA offers a series of exams divided into knowledge, skills, and professional levels, with computer-based exams that can be taken throughout the year. CPA has a uniform exam administered by the American Institute of Certified Public Accountants (AICPA).
4. Establishment: ACCA was established over 100 years ago in 1904, while CPA was established in 1974.
5. Entry Requirements: The application process for ACCA is simpler, with a lower entry barrier compared to CPA.

Ultimately, the choice between ACCA and CPA depends on your career goals, geographic location, and personal preferences. Factors to consider include course structure, duration, registration fees, eligibility requirements, job profiles, and recognition.

Comparative Table: CPA vs ACCA

The CPA (Certified Public Accountant) and ACCA (Association of Chartered Certified Accountants) are both prestigious certifications in the field of accounting. Here is a table highlighting the differences between the two:

Both certifications have their unique focus areas and requirements, catering to different aspects of the accounting profession. The CPA is primarily focused on US accounting standards, while the ACCA is more centered on international accounting standards and ethics. The choice between the two depends on your career goals and the specific area of accounting you wish to pursue.