||With ACCA or CPA status you will be qualified to engage in accounting in a professional manner. But that’s where the similarity ends. Read on to see just how the two differ.
|License granted by body in:
||US, by any of the 55 states or jurisdiction. There is no centralized body; each state has slightly different exam and licensing requirements.
||Online or directly through the Board of Accountancy with which you are pursuing your licence
||Online at accaglobal.com
|Minimum entry requirements
||4-year bachelor degree and preferably a master’s degree in order to fulfill the 150 credit hours, equivalent to 5 years in higher education.
||Accessible to all
|Experience required to license
||Varies from one jurisdiction to another (generally ranges from 12 to 24 months on average )
|In existence since
|Number of bodies
|Number of exams
||1 in four parts
||14 papers (Fundamental level 9 papers, Professional level 5 papers)
- Auditing & Attestation
- Business Environment and Concepts
- Financial Accounting and Reporting
|Fundamental section has two modules: Knowledge and Skills. The professional section has two modules: Essentials and Options.Knowledge section:
- Accountant in Business Management Accounting Financial Accounting
- Corporate and Business Law Performance Management Taxation
- Financial Reporting
- Audit and Assurance
- Financial Management
- Governance, Risk & Ethics
- Corporate Reporting
- Business Analysis
- Advanced Financial Management
- Advanced Performance Management
- Advanced Taxation
- Advanced Audit and Assurance
|Types of questions
||Multiple choice + task-based simulations (i.e. intense case studies) + written communications
||Objective + longer type + case studies
||You can choose to take the 4 parts one at a time, 2 at a time or even 4 at the same time. You can sit for the exam any time (Monday to Saturday) during the first 2 months of each quarter.
||Exams are offered in June and December each year
|Average timeframe to complete
||Minimum six months, more likely one year.
||Most likely 3 to 4 years.
||AICPA (the US accounting body) members can choose to take a simplified version of the CPA exam known as IQEX.
||If you have a bachelor degree in relevant subjects, you can apply for exemption on part or all of the papers at the Fundamental Level. Also, AICPA members can receive exemptions on a number of papers.
|Where in the world can you take the exams?
||US, Bahrain, Kuwait, Lebanon, the UAE, Japan, and Brazil.
||170+ countries around the world.