ACCA vs. CPA — What's the Difference?
Edited by Tayyaba Rehman — By Fiza Rafique — Updated on April 17, 2024
ACCA is globally recognized with a focus on international accounting standards, while CPA is highly regarded in the USA, emphasizing US GAAP and tax regulations.
Difference Between ACCA and CPA
Table of Contents
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Key Differences
ACCA (Association of Chartered Certified Accountants) is a global body for professional accountants, offering the ACCA qualification which is recognized in many countries around the world. Whereas, CPA (Certified Public Accountant) is a designation meant for accounting professionals in the United States, recognized by the American Institute of Certified Public Accountants (AICPA).
ACCA's curriculum covers a broad range of topics in accounting, finance, and management, making it suitable for careers in various sectors. On the other hand, the CPA curriculum is more focused on American accounting practices, US GAAP, US federal taxation, and business laws, making it ideal for those looking to practice in the US.
To become an ACCA member, one needs to pass exams that are structured in a flexible manner, allowing up to 10 years to complete them. In contrast, CPA candidates must pass all four sections of the CPA exam within an 18-month window, demonstrating a more stringent timeline.
The ACCA qualification is often seen as more accessible to international students due to its global recognition and the availability of exams in many countries. Conversely, the CPA designation often requires a specific educational background from an American institution or equivalent, which can be a barrier for non-US candidates.
ACCA provides a more strategic and comprehensive understanding of global financial systems, which is beneficial for professionals looking to work internationally. Whereas CPAs have a deep knowledge of US-specific financial practices, making them highly specialized in the American market.
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Comparison Chart
Global Recognition
Highly recognized internationally
Primarily recognized in the USA
Focus
International financial reporting standards
US GAAP, US taxation, and business laws
Exam Requirement
13 exams with flexible scheduling
4 exams within 18 months
Educational Requirement
More flexible, varies by country
Requires US equivalent education
Professional Scope
Broad, suitable for global finance roles
Specialized, ideal for US-specific accounting roles
Compare with Definitions
Acca
Offers a broad curriculum in finance and management.
The ACCA curriculum includes comprehensive studies in corporate law and taxation.
Cpa
Focuses on American accounting standards.
He specialized in US GAAP after earning his CPA designation.
Acca
A global body for professional accountants.
She enhanced her career prospects globally by becoming an ACCA member.
Cpa
Requires passing a stringent set of exams.
She studied extensively to pass all four sections of the CPA exam within the 18-month period.
Acca
Suitable for diverse career paths in finance.
With an ACCA certification, she could explore opportunities in both public and corporate accounting.
Cpa
Ideal for careers in US taxation and law.
As a CPA, he provided expert advice on US federal tax regulations.
Acca
Recognized in over 180 countries.
He could work in various countries because his ACCA qualification was widely recognized.
Cpa
A designation for accounting professionals in the USA.
Becoming a CPA enabled him to advance rapidly in his US accounting career.
Acca
Provides flexibility in exam completion.
She appreciated the ACCA's flexibility, which allowed her to balance studies with work.
Cpa
Requires specific US educational criteria.
She had to evaluate her foreign credentials to meet the CPA educational requirements.
Acca
(slang) An accumulator bet.
Cpa
A certified public accountant; an accountant certified by the state.
Cpa
An accountant who has passed certain examinations and met all other statutory and licensing requirements of a United States state to be certified by that state;
In addition to accounting and auditing, CPAs also prepare tax returns for individuals and corporations
Common Curiosities
What is the primary difference between ACCA and CPA?
ACCA is globally recognized and covers international accounting standards, while CPA focuses on US GAAP and taxation.
What are the exam requirements for both qualifications?
ACCA requires passing 13 exams over potentially 10 years, while CPA requires 4 exams passed within 18 months.
Is work experience required for either qualification?
Both ACCA and CPA require relevant work experience to obtain full certification.
Can ACCA and CPA qualifications be used interchangeably?
While both are highly respected, they are not interchangeable due to their focus on different accounting standards.
Are there specific industries where a CPA or ACCA would have an advantage?
CPAs have an advantage in US-specific industries like US corporate finance and public accounting, while ACCAs have advantages in global finance roles.
Which qualification is more rigorous?
CPA is considered more rigorous due to the shorter time frame and depth of focus on US practices.
Which qualification is better for working internationally?
ACCA is generally better for international work due to its global recognition and broader curriculum.
What are the benefits of being a CPA in the US?
CPAs often command higher salaries and hold key positions in US accounting firms and corporations.
What are the educational requirements for taking the CPA exam?
The CPA requires a minimum of a US bachelor's degree in accounting or an equivalent field.
What is the cost difference between obtaining ACCA and CPA qualifications?
Costs vary by region and requirements but generally, CPA can be more costly due to educational and exam fees in the US.
How do the roles of ACCAs and CPAs differ in corporate finance?
ACCAs may handle more diverse global finance tasks, while CPAs often focus on compliance and reporting in the US.
How does one maintain an ACCA or CPA license?
Both require continuing professional education to maintain licensure.
Can a CPA work internationally?
Yes, but they may need additional qualifications depending on the country.
How is the professional scope different between ACCA and CPA?
ACCA offers a broader global scope, while CPA is specialized for the US market.
Which qualification takes longer to complete?
ACCA can take longer due to the flexible timeline up to 10 years, whereas CPA is more concentrated within 18 months.
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Fiza RafiqueFiza Rafique is a skilled content writer at AskDifference.com, where she meticulously refines and enhances written pieces. Drawing from her vast editorial expertise, Fiza ensures clarity, accuracy, and precision in every article. Passionate about language, she continually seeks to elevate the quality of content for readers worldwide.
Edited by
Tayyaba RehmanTayyaba Rehman is a distinguished writer, currently serving as a primary contributor to askdifference.com. As a researcher in semantics and etymology, Tayyaba's passion for the complexity of languages and their distinctions has found a perfect home on the platform. Tayyaba delves into the intricacies of language, distinguishing between commonly confused words and phrases, thereby providing clarity for readers worldwide.
