CPA vs. ACCA: Which Qualification Suits Your Career?
For a person looking forward to pursuing an accounting and finance career path, it is very important to opt for the Certified Public Accountant (CPA) and Association of Chartered Certified Accountants (ACCA) qualifications because they possess two strong professional benefits for their receivers, but differ in being best suited to different careers paths, geographies, and industrial practices.
The CPA qualification is primarily recognised in the United States and focuses on U.S. Generally Accepted Accounting Principles, taxation, and auditing standards. It is most suitable for working in public accounting, corporate finance, taxation, and US-based multinational firms. On the other hand, the ACCA qualification is globally recognised and has a presence in Europe, Asia, Africa, and the Middle East. It provides a more international orientation of accounting, auditing, financial management, and business law, perfect for those passionate about working internationally.
To know which is apt for your career path, learn the differences between CPA vs. ACCA regarding eligibility, examination structure, job prospects, and remuneration. This article is a comparative analysis to help you decide which fits your needs best out of the CPA & ACCA program.
[ Read About: Certification Exam ]
What is CPA?
The CPA qualification is issued by individual state boards in the United States. It is regulated by the American Institute of Certified Public Accountants (AICPA). It is considered very expert in U.S. GAAP, taxation, financial reporting, and auditing. It is known for its effectiveness in working roles in public accounting firms, economic consulting, and corporate finance in the United States.
It is not an easy feat to become a CPA since one must pass a four-part CPA exam and fulfil some education requirements, usually a bachelor’s degree with 150 credit hours, along with work experience. CPAs are in great demand by companies in the U.S., international accounting firms, and multinational companies conducting business in the U.S. financial system.
What is ACCA?
It is a globally recognised professional accounting body from the UK. The body provides a wider view of the International scope regarding accountancy, finance, taxation, and business management. It boasts a wide acceptance across Europe, Asia, Africa, and the Middle East. ACCA suits professionals seeking global mobility best.
To get the ACCA qualification, one must pass 13 exams and take a compulsory module for Ethics and Professional Skills. More than that, three years of relevant working experience are gathered. ACCA professionals work across many countries through various audit firms, multinational companies, financial institutions, and governments.
CPA vs. ACCA: Key Differences
While both qualifications give excellent career prospects, differences in exam structure, recognition, and career opportunities make each one more suitable for certain career goals. Below is a detailed comparison of CPA vs. ACCA in various aspects.
| Criteria | CPA (Certified Public Accountant) | ACCA (Association of Chartered Certified Accountants) |
| Governing Body | AICPA (American Institute of Certified Public Accountants) | ACCA (Association of Chartered Certified Accountants) |
| Global Recognition | Mainly in the United States, also recognised in Canada and Australia | Recognised in 180+ countries, including the UK, Europe, and Asia |
| Exam Structure | 4 exams (AUD, BEC, FAR, REG) must be completed within 18 months | 13 exams across three levels (Applied Knowledge, Applied Skills, Strategic Professional) |
| Completion Time | 12-18 months | 2-3 years |
| Eligibility | Requires bachelor’s degree + 150 credit hours | Can start after high school or bachelor’s degree |
| Cost | $3,000 – $4,000 (₹2,50,000 – ₹3,30,000) | $2,000 – $3,000 (₹1,60,000 – ₹2,50,000) |
Eligibility Requirements
The CPA qualification is strictly academic and experiential. Before sitting for the exam, candidates must have a bachelor’s degree in accounting or a related field and complete 150 credit hours, leading some to acquire a master’s degree equivalent. Each U.S. state has specific CPA licensing requirements; some may entail one to two years of work experience under a licensed CPA.
The eligibility criteria for the ACCA qualification are relatively flexible. One can join after high school. It is easier to begin than the CPA, which requires a bachelor’s degree; however, one must undergo three years of relevant work experience to become fully qualified. Therefore, it makes ACCA popular among students who wish to begin their accounting career early.
Exam Structure
The CPA exam comprises four sections covering different areas of accounting, auditing, taxation, and business law. The test is patterned and also time-bound. A candidate needs to clear all four sections within 18 months. It is four hours long, a test that takes technical knowledge and applies it practically in a rather tight framework. The four sections in CPA syllabus include the following:
- Auditing and Attestation (AUD) – Deals with auditing techniques, attestation engagements, and ethics.
- Business Environment and Concepts (BEC) – Tests business activities, financial management, and corporate governance.
- Financial Accounting and Reporting (FAR) – Focuses on U.S. GAAP, presentation and preparation of financial statements, and reporting requirements.
- Regulation (REG) – Covered U.S. taxation, business law, and professional responsibilities.
The ACCA exam, however, consists of 13 papers divided into three levels :
- Applied Knowledge (3 papers)– Applied knowledge in business and finance
- Applied Skills (6 papers)– Advanced accounting and taxation
- Strategic Professional (4 papers)- Core and elective subjects, which include advanced financial management, audit, etc.
Whereas CPA has strict time constraints for clearing the exams, ACCA doesn’t have time constraints. However, it must be done in 2-3 years under ACCA as opposed to12-18 months in CPA if the pit is pursued full-time.
Acceptance and International Recognition
The CPA qualification is mainly accepted in the United States, Canada, Australia, and some multinational companies worldwide. It is perfect for those seeking a career with firms in the United States, Big Four accounting firms, and multinational companies under U.S. financial regulations.
This means the ACCA qualification is recognised in over 180 countries and is among the most widely accepted accounting qualifications globally. This makes it especially valuable for working in Europe, Asia, Africa, and the Middle East. ACCA holders have wider international mobility opportunities, especially within global finance, consulting, and corporate accounts.
Cost of Certification
The CPA is slightly costlier than obtaining the ACCA qualification. CPA Exam fees, application fees, and study materials will range between $3,000 and $4,000 (₹2,50,000 – ₹3,30,000) based on state boards and review courses. To meet the 150-credit-hour requirement, one has to achieve a master’s degree for the desired candidates.
ACCA is less expensive because the ACCA exam fees and study materials range between $2,000-$3,000 (₹1,60,000-₹2,50,000). One can begin the ACCA qualification directly after high school, saving on education costs compared to a CPA.
Conclusion: Which Qualification is Best for You?
The CPA qualification is better if you want to work in the United States and specialise in U.S. GAAP, taxation, and auditing. However, the ACCA qualification provides a broader international reach if you seek global opportunities and flexibility in various accounting roles worldwide. Both credentials are valuable, but selecting the right one depends on your career goals.
