Difference between CA and ACCA

Answer 1

Logically the both study the same courses and subjects but with the difference of name and code of subjects, as both qualifications follow IAS, IFRSs issued by IASB.

The only difference is the name and the rest are rumours to make ACCA flop in competition with CA

For attaining CA qualification it is a must that you should intern at a accountancy practice while you are studying. But for ACCA you can gain your practical experience as you like.

And other thing is that ACCA has somewhat wider acceptance globally. But CA is considered more "prestigious"

Answer 2

CAT is more of a preliminary or basic qualification which is useful if working in more basic areas of bookkeeping, or hoping to gain exemptions from ACCA exams. However ACCA is a professional qualification and those who are ACCA members are qualified Accountants unlike CAT holders who, although will be experienced and have some technical knowhow, will not have the detailed level of understanding that is involved through studying ACCA. CAT holders should be able to compile balance sheets and P&L's from trial balances, as well as explain/implement the more basic accounting standards, and also be familiar with costing and basic management accounting. ACCA builds on this and involves much more detailed technical knowledge, application of standards and the more tricky areas of accounting such as forwards contracts, financial instruments etc. Hope this helps - should all be accurate as I am a recent CAT passed finalist and have now moved onto ACCA!