For any business to prosper and grow, they need good accountants in their financial department. They provide the stability and the impetus to the financial policies so that the company can find the best path forward for profit and growth.
Understanding the need for the qualified accountant in the company, we seek further qualifications. We do this for the sake of choosing the best-qualified person for the job. In doing this, we come across the Chartered Accountants. When we check the Chartered Accountants vs. accountants at first glance there does not seem to be many significant differences.
In truth, anyone can become an accountant. They will be able to handle the accounts of the firm with a good deal of dexterity and give advice on matters of the fiscal policy. This is what we expect the Chartered Accountant to do too. So, what is the difference between the two? The Chartered Accountant has undergone three years of in-depth training and has passed rigorous examinations to earn the Associate Chartered Accountant (ACA) degree. After this, the accountant must have put in at least five years of service in some recognised institution. Then, they become eligible for Fellow Chartered Accountant (FCA) in the US or Chartered Certified Accountant (CCA) in the UK.
The Chartered Accountants have the degree after his or her name. This tells you how qualified he or she is. The ordinary accountant does not need the experience or any extra studies. You have seen the comparison done for Chartered Accountants vs. accountants on their work and qualifications. You too can become a Chartered Accountant by joining a prestigious institution that teaches the course in Chartered Accountancy. You need to study from a recognized institute otherwise there is
no value in the degree you get.
You can get the ICAEW Certificate in Finance, Accounting, and Business (ICAEW CFAB) and complete the course independently of the ACA course. This qualification remains recognized globally and everyone is eligible to study. You can complete the course through self-study or by taking the services of a tuition provider. The exam module has six tests that the candidate needs to take in any order they choose. The assessment takes place at local exam centres with the help of a computer. As you pass each module, ICAEW will send you the certificate of achievement.
Alternatively, you apply for a graduate scheme in a larger Chartered Accountants company. In Scotland, we can recommend Campbell Dallas that provides business advisory, tax, corporate finance and accountancy services in Glasgow, Perth, Stirling, Aberdeen and Kilmarnock. They are also the best accountancy firm in Scotland 3 years in a row according to Business Insider.