Nowadays, due to the great diversity in the numerous fields, there are many degrees of accountancy which one can study according to his or her requirements and priorities. No degree can be called inferior to any other degree but it is the nature of job and the job market one wants to fit in, which are decisive factors to choose any degree.
Here I am going to tell you some of the facts about the two leading accountancy degrees so that if anyone among you wants to choose accountancy as his future career then he has the pertinent knowledge to decide.
10. ICAEW is an internationally recognized accountancy degree which is awarded by the Institute of Chartered Accountants in England & Wales
9. According to a survey, overall the ICAEW qualified Chartered Accountants earn more than other accountants.
8. The course of the ICAEW is broken down into two main stages and that is Professional stage, advanced stage.
7. There are generally two types of teaching methods available; classroom-based teaching and Distance learning for Certificate in Finance Accounting and Business only(CFAB).
6. Exemptions in ICAEW are available only to graduates, AAT qualified students and those who hold any professional accountancy degree.
5. After the completion of ICAEW, one can fit into many roles such as general practice, taxation, insolvency, assurance and management accountancy.
4. CPA stands for Certified Public Accountant and it is a American based accountancy degree. The core difference between CPA and ICAEW is that the latter is based on IFRSs’ and IASs’ whereas the former works on the GAAP( Generally Accepted Accounting Principles).
3. As CPA in particular holds significance in the countries that operate under the GAAPs, so holding a CPA degree and searching a job in countries which operate under IFRSs’ and IASs’ will not win you good post in an organization.
2. Bachelor degree is the minimum requirement for CPA but most of the states require more than 150 semester hours to be eligible for CPA program.
1. The coursework of CPA include intermediate accounting, cost accounting, tax accounting and auditing. The salary prospects for CPA’s are good and according to an estimate CPA’s earn around $60,000 annually.