If you are approaching CA in Pakistan after completing your ACCA, you may get an advantage with the exemption of a few papers.
That’s because the ACCA and CA both are accounting and finance-based qualifications and have some common subjects. So, if you want to pursue CA after ACCA, you don’t have to repeat those subjects.
In this regard, we have gathered some details for you that you can check to see how many exemptions you can get in CA after cracking ACCA.
Papers To Be Exempted From CA After ACCA
There are eight papers to be exempted from CA after doing ACCA. However, they are not entirely exempted but replaced with advanced levels of each exempted paper. Here’s the list of exempted papers from two groups of CA after ACCA in 2021.
1- Assessment of Fundamental Competencies (AFC)
1- AFC-1 Functional English
2- AFC-3 Quantitative Methods
2- Certificate in Accounting and Finance
1- CAF-1 Introduction to Accounting
2- CAF-5 Finance Accounting and Reporting-I
3- CAF-6 Principle of Taxation
4- CAF-7 Financial Accounting and Reporting-II
5- CAF-8 Cost and Management Accounting
6- CAF-9 Audit and Assurance
In the case of exemption of “CAF-6 Principle of Taxation” from CA papers, those who have qualified Taxation-Pakistan variant in ACCA can be availed. Additionally, another exemption of “CAF-9 Audit and Assurance” paper is exempted only if the candidates have cracked an Advanced Audit and Assurance paper in ACCA.
What Should You Do First, ACCA or CA in Pakistan?
To decide what you should pursue first, let’s evaluate each factor associated with both and weigh up accordingly.
Scope
Generally, if we look into the scope of both careers in Pakistan, CA may overpass ACCA. That’s because ACCA has a greater degree if you intend to set a job in UK or elsewhere. However, CA can be proved lucrative for those pursuing an accounting and finance-oriented career in Pakistan.
What’s more Difficult?
While comparing the difficulty level, it can be said that CA leads this as well. When you opt for CA, you will have to dedicate your time and effort to crack the examination. The average passing rate of CA in Pakistan is around 5%-25% in each paper on the first attempt.
In contrast, ACCA is comparatively easy, with an average passing rate of 30%-50%. One of the reasons for this would be that CA is equivalent to a master’s and ACCA to a bachelor’s, so the difficulty level is set accordingly. However, if you pursue CA after ACCA, the difficulty level may come down with exemption in papers.
Period
The duration of both certifications also varies. Usually, it requires five years to pass a CA examination, but the time may vary. On the other hand, you can crack ACCA in two years. However, both qualifications are dependent on your preparation if you can complete your selected certification within the defined period or extend it.
Syllabus
ACCA comprises a total of thirteen papers divided into three levels. In comparison, CA is an altogether certification of twenty-one papers paired in four groups.
Association of Certified Chartered Accountants (ACCA) Levels:
1- Assessment of Fundamental Competencies (AFC)
2- Certificate in Accounting and Finance (CAF)
3- Certified Finance and Accounting Professional (CFAP)
4- Multi-subject Assement (MSA)
