(Original post by andy_1989)
ACA because of the prestige.. those who do the ACCA cannot call themselves (although they probably do) chartered accountants. They are infact a certified chartered accountant.
These days they'll generally do the same sort of jobs. Your general accountants or auditor can do exactly the same job and be ACCA or ACA)
In the profession the chartered qualification is seen as more prestigious than the ACCA - it basically comes down to snobbish attitudes about the people who enter for the different qualifications. More graduates do the ACA than the ACCA, so there is a perceived difference in the caliber of students doing the two qualifications. Generally the Big 4 will enter you for either the CA or ACA exams, and if you fail them and they don't decide to kick you out, then they'll enter you for the ACCA instead.
There have been several attempts to merge the different accountancy bodies in the UK in the past, but they've all failed. ACA's don't want ACCA's to be able to use the same credentials as they do, and CA's don't want ACA's do be able to use their credential. It's pretty stupid really, but if you were to rank the 'prestige' of the various qualifications available in the UK it'd probably go something like: CA, ACA, ACCA, CIMA.
The thing is if you want to be an auditor, it makes little difference whether you have the CA, ACA or ACCA. You might just come across a partner or two who has snobbish opinions about the relative merits of certain qualifications.
Exactly, snobbery is rife in Accountancy, most of the partners will be conservative/upper class types and seen as all of them probably did ACA they're very quick to make opinions on other qualifications.
There is no actual difference between the two qualifications apart from the fact that the ICAEW is provincial in its scope (ie. England and Wales) whereas the ACCA is a global accountancy body. I have trained at KPMG on the ACCA scheme because I want an international career with a relocation to Australia in the not too distant future, but if you are happy living and working in Britain then the ACA qualification is highly regarded.
In terms of entry requirements you will find that for the big firms they will ask for similar academic achievements. For example, I have three good A levels (AAB) and a 2.1 degree in Accountancy and Finance from the London School of Economics. Whichever route you take expect to have to study hard in your spare time in order to qualify as all the CCAB qualifications are deemed to be equivalent to a masters degree.
Andy-1989 is incorrect to state that members of the ACCA are not entitled to refer to themselves as chartered accountants. The ACCA obtained permission from the Privy Council to use the chartered title back in 1996 to reflect the fact that this body had been awarded a royal charter. (Prior to this members of the ACCA were known as certified accountants.) However, the ACCA prefers its members to call themselves chartered certified accountants in order to set itself apart from the other chartered accountancy bodies.
Salary levels and career progression are exactly the same for all chartered accountancy bodies and will depend entirely on your ambition and personal ability.
The following link gives statistical analysis of the chartered accountancy bodies within the UK and has been prepared by the Financial Reporting Council:
i have been offered the acca by my employer but ive been told about the aca by other people. i am very confused after ready all the comments by different people as to which is the best qualification. I have currently just finished my aat and am looking to study further. Can someone please explain which is the better option. Can acca and aca offer the same job prosepcts/salary after qualifying?
should i take my employer up on the acca or look for a aat-acca fast track?????? HELP.