ACCA vs. MBA, Which is Better For Your Career?
Admin 29 Dec, 2023 Introduction
Today’s working professionals in finance, accounting and commerce students are confused as to which courses to take when it comes to MBA & ACCA.Choosing one of the two can have a profound impact on your career. Thus, you must carefully analyze both options and decide which is better for your career goals.
If you are confused and cannot differentiate between the two programs, ACCA vs. MBA, Here is a detailed guide to help you understand the primary difference between the courses and decide which is better for you to pursue.
What is ACCA?
The ACCA is one of the most prestigious accountancy qualifications in the world. A UK-based professional accounting body, the Association of Chartered Certified Accountants or ACCA, offers this certification of the same name. It was founded in 1904 and helped many aspiring finance professionals build a career in accountancy.
The ACCA certification provides candidates with all the skills, knowledge, and values to have a successful career in accountancy. This certification program primarily focused on accountancy, taxation, and auditing.
The entire program can continue for over three years, and it's a maximum of 13 exams covering various aspects of accountancy.
The chances of ACCA in India have grown significantly, especially with the growing network of Big 4s and MNCs in the country.
Why Should One Prefer an ACCA Course?
Candidates should prefer pursuing the ACCA course for the reasons below:- Global Recognition: The ACCA qualification is regarded and demanded by international firms. It means that you can work in nearly any part of the world after you pass the ACCA exams and get certified.
Learn International Standard: The ACCA qualification is the world-leading accountancy qualification for aspiring financial professionals. It helps the student to learn international accounting and auditing standards. You can work as an accountant in any country where these accountancy standards are acceptable. It is named as a global CA for a reason.
Flexibility: The ACCA certification course is quite flexible. After your registration, you have ten years to pass all the exams. So, if you do not want to clear exams in one go, you can skip and appear for some exams next time.
Better Job Prospects: As an ACCA-certified professional, you can access many impactful job opportunities. ACCA body has partnered with many employers from all around the world to offer better job opportunities to the members and students of ACCA.
What is an MBA?
The Master of Business Administration (MBA) is one of the most popular postgraduate degrees offered by various govt and private business institutions. An MBA program is a two-year course, but if you are an experienced professional, you can pursue it in a year course.
The MBA program prepares the candidates for a broader business world. It offers you vast accounting, marketing, finance, and human resources knowledge. The full-time MBA course also provides a holistic environment for students to develop vital soft skills and leadership skills.
Why Should One Prefer an MBA Course?
Getting into a reputed business school and then going through the rigorous MBA course can be taxing, it is also worth the effort. You should prefer pursuing the ACCA course for the reasons written below- Business knowledge : One of the reasons why the MBA program is so popular is that people want to start or grow their businesses. The MBA is designed to teach you every aspect of beginning and managing a business. You will have enough knowledge to start your own company at the end of the MBA program.
- Network : An MBA course provides you with excellent networking opportunities. You also gain access to the extensive alumni network. These connections will provide you with an excellent overview of the business world.
- Vast job-ready knowledge : The MBA course provides you with the required skills and expertise to handle all the various aspects of a general business setup. Thus, making you industry ready for any job in the business world.
ACCA vs MBA: Which One to Choose?
Which one to pursue, ACCA vs. MBA? The better qualification for you may not be the best option for everyone else. One certification is not better than the other. Therefore, you must analyze both programs and decide which will work best for you.
Here are some key points to analyzing which is the better course that fits for you:
| Aspect | ACCA | MBA | |
| Career Focus | Accounting domain | Managerial positions in any business firm | |
| Eligibility | Can start after 12th standard exams | Require completion of bachelor's degree | |
| Course Duration | Typically Longer (3-3.5 years) | Shorter (2 years) | |
| Work Experience Requirement | None Required | None Required |
FAQs
1. Is it good to do ACCA after MBA?
Yes, it is great to have both the ACCA and MBA qualifications. Combining both courses creates a unique ability to manage people and various business organizations worldwide.
The MBA degree will also make your journey through the ACCA program much easier. You will get exemptions from many papers in the ACCA program.
2. Can I do ACCA and MBA together?
However, this hard work is well worth the effort. An MBA combined with professional ACCA credentials will push you towards a rewarding senior management role with a firm grip on accountancy skills and leadership expertise.
3. Is ACCA better than a master's in accounting?
4. Is ACCA better than BBA?
5. Is ACCA tougher than MBA?
ACCA is surely not easy, for sure. It is a professional accounting certification; it is not meant to be easy. But, it is not that difficult to pass the ACCA exams. The ACCA course might not seem difficult at all if you are motivated. However, many candidates fail to pass the ACCA qualification. More than half of the candidates cannot complete the ACCA course without failing.
On the other hand, most candidates who join the MBA program can pass it. However, if you want to attend top business schools, you must pass the extremely difficult entrance exams.
6. Which field of ACCA is best?
7. Is ACCA higher than a master's degree?
The ACCA qualification is considered to be equivalent to a master's degree in some countries like the United Kingdom. The ACCA program also provides you with a deeper knowledge of the world of accounting than the Masters degree. You can also get a high-paying job after completing the ACCA certification course. However, it is also quite an intense and tough course to complete. In short, there is no direct hierarchy between the ACCA vs. MBA programs; still, the ACCA program seems a tad better.
8. Which is harder, ACCA or degree?
9. Can I get a job directly after ACCA?
Conclusion
Both ACCA and MBA credentials have their pros and cons. You must decide which certification (ACCA vs. MBA) is better for your future career goals.Hopefully, our little guide on ACCA vs. MBA has helped you decide which one to pursue. If you want personalized guidance on the ACCA certification course, contact us at NorthStar Academy.
If you are someone who wants to pursue the ACCA, then it is highly recommended to join our ACCA prep course. The ACCA certification is not easy to crack and requires proper dedication and hard work from the candidates. However, with proper guidance and support from the top mentors, such as Mr. M Irfat, well-organized study material from BP Learning Media, mock exams, frequent doubt-clearing sessions, and a flexible study schedule in the NSAs ACCA certification course, you can easily grab your desired professional qualification.