ACA
ICAEW vs. ACCA: which accounting qualification to choose?
23 Oct 2024
Both leading to competitive careers in finance and accounting, it can be difficult to figure out the difference between ICAEW vs ACCA - especially when ICAEW’s ACA qualification has just one letter missing! In this blog, Kaplan will highlight the differences between the two accreditations, covering structure, taught skills and what you can do with an ACCA or ICAEW designation at the end of your course.
Looking to develop your career as an accountancy or finance professional? Explore Kaplan’s prestigious ACCA online courses to become ACCA-certified, or find out more about our flexible ways to complete your ICAEW qualification online today.
ICAEW vs. ACCA: key differences
Knowing the difference between ACCA and ICAEW can help determine which certification best aligns with your career interests. Below is a brief overview of the key differences between the two qualifications:
| ICAEW/ACA | ACCA | |
|---|---|---|
| Structure | The ACA qualification is made up of three levels: ACA Certificate, ACA Professional and ACA Advanced. The programme is known for its structured training, which typically includes a minimum 36 month training agreement and at least 450 days practical work experience. | The ACCA qualification consists of three levels: ACCA Applied Knowledge, ACCA Applied Skills and ACCA Strategic Professional. There is also a Practical Experience Requirement (PER) of 36 months for the ACCA qualification. |
| Skills covered | ICAEW’s ACA qualification is recognised for its rigorous training in technical accounting and auditing skills. | ACCA courses offer a broader scope covering both financial and management accounting, with a strong emphasis on technical skills and financial reporting. |
| Final exams | There are 15 exams across the three levels that make up the ACA qualification. You can take your Certificate level exams at any time of the year, while there are frequent exam sittings for the other two qualification levels. | There are 13 exams in the complete ACCA qualification. There are no specific sittings for the Applied Knowledge exams and they can be sat at any point during the year. For Applied Skills and Strategic Professional, ACCA runs four sittings every year so you can sit two exams per sitting, twice a year or one ACCA exam per sitting, four times a year. |
| Course duration | The ICAEW qualification takes 3 - 5 years on average to complete. While there is no time limit on completing your ACA qualification, you can sit each Professional Level knowledge and application module a maximum of four times. | It takes on average 3 - 5 years to complete the ACCA qualification. For some learners, this qualification can be quicker than ICAEW based on the reduced practical work experience required. There is a seven year deadline for the Strategic Professional level exams. |
| Job prospects | The broader business and financial management focus means ACCA designation holders can apply for a number of varied finance roles. | The broader business and financial management focus means ACCA designation holders can apply for a number of varied finance roles. |
Structure
The ICAEW qualification is made up of three levels that focus on different aspects of accountancy, finance and business:
To become an ICAEW Chartered Accountant, you must also complete at least 450 days of practical work experience. This typically takes the form of a 36 month training agreement which takes between three to five years to complete. You also need to demonstrate a commitment to ethical behaviour and professional standards recognised by the ICAEW.
Similarly, the ACCA qualification is made up of three levels that help you develop a comprehensive understanding of accounting in business:
There is also a Practical Experience Requirement (PER) of 36 months for the ACCA qualification, as well as a compulsory Ethics and Professional Skills module that must be completed to become ACCA-certified.
Skills
ICAEW’s ACA qualification is considered one of the most advanced accounting qualifications, and entry requirements are known to be more stringent. As such, the ACA qualification is a valuable asset for those pursuing careers in auditing, corporate finance, and other accounting roles. The ACA programme is also known for its structured training contract with an approved employer, which allows you to develop your skills through on-the-job training.
Comparatively, the ACCA qualification offers a broader scope of business and financial management skills beyond traditional accounting. This makes those completing an ACCA course suitable for various roles like accounting, finance, taxation, audit and consulting.
Exams
There are 15 exams across the three levels that make up the complete ACA qualification by the ICAEW: six exams at Certificate and Professional level, and three in the final Advanced level. One benefit of ICAEW is that you can take your Certificate level exams at any time of the year. There are also frequent exam sittings for the other two levels, with ACA Professional exams taking place in March, June, September and December, and Advanced level exams in July and November. To find out more about ACA exams, we recommend looking at the ICAEW exam timetable online.
The ACCA qualification has 13 exams in total. To become ACCA qualified, you need to pass three Applied Knowledge exams, six Applied Skills exams and four exams at the Strategic Professional level - or else have relevant exemptions for the subjects not sat. At this final level, you will sit two compulsory module exams and two of four optional module examinations. This allows learners to specialise in an area of their choice.
The ACCA Applied Knowledge exams are on-demand and can be sat at any point during the year. There are no specific exam sittings for this level. For Applied Skills and Strategic Professional, ACCA runs four sittings every year in March, June, September and December. This means you can sit two exams per sitting, twice a year or one ACCA exam per sitting, four times a year. For more information on ACCA exam dates, take a look at the ACCA exam timetable online.
Course duration
Both the ICAEW and ACCA qualifications take on average 3 - 5 years to complete. While the actual time it takes you to complete your ICAEW or ACCA course can vary depending on how many hours you can dedicate to your studies, the ACCA qualification can be shorter for some learners. This is because you need three years of hands-on experience as opposed to a minimum of 450 days and a 36 month training agreement by the ICAEW which can take between three to five years.
There is no time limit on completing the ACCA qualification, however, the Strategic Professional level exams have a seven year deadline so employers can be confident learners have relevant and up-to-date knowledge. This means you must complete all ACCA exams at this level after you pass your first Strategic Professional assessment. There is no time limit on completing your ICAEW exams, however, you are allowed a maximum of four attempts for each Professional Level knowledge and application module.
Job prospects
An ICAEW or ACCA designation can open doors in your career. Not only are both qualifications recognised globally, but they demonstrate to potential employers you have the skills and knowledge to become a successful financial professional.
The ACA qualification is often seen as a gateway to competitive careers in accounting and finance, particularly for those who want to work in practice. Becoming ACA certified allows you to specialise in specific areas or work broadly across multiple industries. There is even an exclusive jobs board for ICAEW members online with international and remote working positions listed.
The variety of ACCA careers available after completing the qualification is similarly impressive, especially for those more suited to working in industry. Since the ACCA qualification focuses on broader business and financial management skills in addition to accounting, ACCA designation holders can work in a number of related finance fields. We recommend exploring the list of ACCA careers online today.
ACCA vs ICAEW: which accounting qualification is right for you?
When choosing between ACCA or ICAEW, it’s important to consider what you want your future career to look like. You can do this by asking yourself the following questions:
- What are your career aspirations?
- Which industry do you want to work in?
- Which skills do you want to develop?
Both qualifications have different strengths so the best way to select the right course is to choose the one which most aligns with your professional goals.
Studying with Kaplan
Our award-winning online accountancy courses have been designed with flexibility in mind, so you can study for your ICAEW or ACCA qualification alongside current commitments and responsibilities. Explore our ACA courses and online ACCA programmes today and see why Kaplan is the preferred learning provider for professionals.
ACA
ICAEW vs. ACCA: which accounting qualification to choose?
23 Oct 2024
Both leading to competitive careers in finance and accounting, it can be difficult to figure out the difference between ICAEW vs ACCA - especially when ICAEW’s ACA qualification has just one letter missing! In this blog, Kaplan will highlight the differences between the two accreditations, covering structure, taught skills and what you can do with an ACCA or ICAEW designation at the end of your course.
Looking to develop your career as an accountancy or finance professional? Explore Kaplan’s prestigious ACCA online courses to become ACCA-certified, or find out more about our flexible ways to complete your ICAEW qualification online today.
ICAEW vs. ACCA: key differences
Knowing the difference between ACCA and ICAEW can help determine which certification best aligns with your career interests. Below is a brief overview of the key differences between the two qualifications:
| ICAEW/ACA | ACCA | |
|---|---|---|
| Structure | The ACA qualification is made up of three levels: ACA Certificate, ACA Professional and ACA Advanced. The programme is known for its structured training, which typically includes a minimum 36 month training agreement and at least 450 days practical work experience. | The ACCA qualification consists of three levels: ACCA Applied Knowledge, ACCA Applied Skills and ACCA Strategic Professional. There is also a Practical Experience Requirement (PER) of 36 months for the ACCA qualification. |
| Skills covered | ICAEW’s ACA qualification is recognised for its rigorous training in technical accounting and auditing skills. | ACCA courses offer a broader scope covering both financial and management accounting, with a strong emphasis on technical skills and financial reporting. |
| Final exams | There are 15 exams across the three levels that make up the ACA qualification. You can take your Certificate level exams at any time of the year, while there are frequent exam sittings for the other two qualification levels. | There are 13 exams in the complete ACCA qualification. There are no specific sittings for the Applied Knowledge exams and they can be sat at any point during the year. For Applied Skills and Strategic Professional, ACCA runs four sittings every year so you can sit two exams per sitting, twice a year or one ACCA exam per sitting, four times a year. |
| Course duration | The ICAEW qualification takes 3 - 5 years on average to complete. While there is no time limit on completing your ACA qualification, you can sit each Professional Level knowledge and application module a maximum of four times. | It takes on average 3 - 5 years to complete the ACCA qualification. For some learners, this qualification can be quicker than ICAEW based on the reduced practical work experience required. There is a seven year deadline for the Strategic Professional level exams. |
| Job prospects | The broader business and financial management focus means ACCA designation holders can apply for a number of varied finance roles. | The broader business and financial management focus means ACCA designation holders can apply for a number of varied finance roles. |
Structure
The ICAEW qualification is made up of three levels that focus on different aspects of accountancy, finance and business:
To become an ICAEW Chartered Accountant, you must also complete at least 450 days of practical work experience. This typically takes the form of a 36 month training agreement which takes between three to five years to complete. You also need to demonstrate a commitment to ethical behaviour and professional standards recognised by the ICAEW.
Similarly, the ACCA qualification is made up of three levels that help you develop a comprehensive understanding of accounting in business:
There is also a Practical Experience Requirement (PER) of 36 months for the ACCA qualification, as well as a compulsory Ethics and Professional Skills module that must be completed to become ACCA-certified.
Skills
ICAEW’s ACA qualification is considered one of the most advanced accounting qualifications, and entry requirements are known to be more stringent. As such, the ACA qualification is a valuable asset for those pursuing careers in auditing, corporate finance, and other accounting roles. The ACA programme is also known for its structured training contract with an approved employer, which allows you to develop your skills through on-the-job training.
Comparatively, the ACCA qualification offers a broader scope of business and financial management skills beyond traditional accounting. This makes those completing an ACCA course suitable for various roles like accounting, finance, taxation, audit and consulting.
Exams
There are 15 exams across the three levels that make up the complete ACA qualification by the ICAEW: six exams at Certificate and Professional level, and three in the final Advanced level. One benefit of ICAEW is that you can take your Certificate level exams at any time of the year. There are also frequent exam sittings for the other two levels, with ACA Professional exams taking place in March, June, September and December, and Advanced level exams in July and November. To find out more about ACA exams, we recommend looking at the ICAEW exam timetable online.
The ACCA qualification has 13 exams in total. To become ACCA qualified, you need to pass three Applied Knowledge exams, six Applied Skills exams and four exams at the Strategic Professional level - or else have relevant exemptions for the subjects not sat. At this final level, you will sit two compulsory module exams and two of four optional module examinations. This allows learners to specialise in an area of their choice.
The ACCA Applied Knowledge exams are on-demand and can be sat at any point during the year. There are no specific exam sittings for this level. For Applied Skills and Strategic Professional, ACCA runs four sittings every year in March, June, September and December. This means you can sit two exams per sitting, twice a year or one ACCA exam per sitting, four times a year. For more information on ACCA exam dates, take a look at the ACCA exam timetable online.
Course duration
Both the ICAEW and ACCA qualifications take on average 3 - 5 years to complete. While the actual time it takes you to complete your ICAEW or ACCA course can vary depending on how many hours you can dedicate to your studies, the ACCA qualification can be shorter for some learners. This is because you need three years of hands-on experience as opposed to a minimum of 450 days and a 36 month training agreement by the ICAEW which can take between three to five years.
There is no time limit on completing the ACCA qualification, however, the Strategic Professional level exams have a seven year deadline so employers can be confident learners have relevant and up-to-date knowledge. This means you must complete all ACCA exams at this level after you pass your first Strategic Professional assessment. There is no time limit on completing your ICAEW exams, however, you are allowed a maximum of four attempts for each Professional Level knowledge and application module.
Job prospects
An ICAEW or ACCA designation can open doors in your career. Not only are both qualifications recognised globally, but they demonstrate to potential employers you have the skills and knowledge to become a successful financial professional.
The ACA qualification is often seen as a gateway to competitive careers in accounting and finance, particularly for those who want to work in practice. Becoming ACA certified allows you to specialise in specific areas or work broadly across multiple industries. There is even an exclusive jobs board for ICAEW members online with international and remote working positions listed.
The variety of ACCA careers available after completing the qualification is similarly impressive, especially for those more suited to working in industry. Since the ACCA qualification focuses on broader business and financial management skills in addition to accounting, ACCA designation holders can work in a number of related finance fields. We recommend exploring the list of ACCA careers online today.
ACCA vs ICAEW: which accounting qualification is right for you?
When choosing between ACCA or ICAEW, it’s important to consider what you want your future career to look like. You can do this by asking yourself the following questions:
- What are your career aspirations?
- Which industry do you want to work in?
- Which skills do you want to develop?
Both qualifications have different strengths so the best way to select the right course is to choose the one which most aligns with your professional goals.
Studying with Kaplan
Our award-winning online accountancy courses have been designed with flexibility in mind, so you can study for your ICAEW or ACCA qualification alongside current commitments and responsibilities. Explore our ACA courses and online ACCA programmes today and see why Kaplan is the preferred learning provider for professionals.
