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ACCA vs Accounting Degree: Which Course Should You Take?

If you’re business-minded and keen on crunching numbers, an accounting career might be in the cards for you!

However, there are a few ways to getting there. One is via the Association of Chartered Certified Accountants (ACCA) — a professional accounting qualification that will enable you to be called a “Chartered Certified Accountant”. Another is by pursuing a Degree in Accounting.

So, which should you choose?

In this article, we address some of your burning questions to help you compare these 2 courses and decide which is the best fit for you. Let’s go!

#1. What’s the main difference?
This is an academic degree awarded by a university.

ACCA:

This is a professional accounting qualification awarded by the ACCA, a body for professional accountants.

What should you consider?

An Accounting Degree is similar to other undergraduate degrees and equips you with academic knowledge in your chosen field. ACCA, on the other hand, is a professional accounting qualification and is not recognised as a degree. Study material aside (see point #2), degrees are still well-regarded and relevant in today’s job market. In addition, if you are financially tight, degrees are covered under PTPTN, while professional courses are only covered in public universities.
#2. What will you study?

What should you consider?

An Accounting Degree consists of core and elective subjects, together with research work and assignments, all which are meant to give you a more well-rounded experience.

Core subjects are mostly made up of accounting subjects such as Financial Accounting, Auditing and Taxation whilst electives include subjects from related fields (e.g. Business Management, Entrepreneurship, Marketing, etc.) which you can mix and match based on your interests. Add in group assignments and your undergraduate thesis, and you can see how a degree can be a holistic experience.

In contrast, ACCA focuses on the technical areas of accounting, giving you more specialised knowledge about accounting. The syllabus covers advanced accounting techniques, calculations and manipulations in greater detail compared to a degree, especially at the Professional level.

#3. Which is more difficult?

Accounting Degree:

Typically considered to be an easier route than ACCA as there is a gradual progression of difficulty throughout your 3 years of study. Additionally, it is not 100% exam-based.

ACCA:

Known to be more challenging as it combines the difficulty levels of a Bachelor’s Degree and Master’s Degree into one qualification.

What should you consider?

As with any degree programme, an Accounting Degree requires you to juggle assignments, group work and class tests on top of your final exams. You’ll need to have good time management and study consistently to be on top of your game. On the other hand, the ACCA qualification is known to be tough as the fundamental and professional levels are vastly different. Additionally, the subject material becomes exponentially more difficult as you move from one to the other.
#4. Which is faster?

Accounting Degree:

Approximately 4-5 years to complete from SPM level.

ACCA:

Approximately 3 years upon completing SPM.

What should you consider?

If you’re in a hurry to enter the workforce, the ACCA qualification is the fastest route. You can take the Certified Accounting Technician (CAT) right after SPM, which takes 1 year, and then complete the ACCA qualification in as quickly as 2 years (provided you pass all the papers, of course!). Should you choose to take an Accounting Degree, however, you must complete a pre-university qualification (e.g. A-LevelFoundation in Arts, etc.) first, which can take anywhere between 1-2 years. Subsequently, you can proceed to do a Degree in Accounting, which will take 3 years, making the total study duration to be 4-5 years from SPM.
#5. Which is cheaper?

Accounting Degree:

Fees can range from RM47,000 - RM100,000.

ACCA:

Fees can range from RM10,000 - RM 32,000.

What should you consider?

If cost is a major consideration for you, you’d be pleased to know that ACCA is the cheaper option compared to an Accounting Degree. The cheapest Accounting Degree is approximately RM47,000 while studying ACCA can be as low as RM10,000. Not only that, you can take the ACCA qualification privately without going through a college or university, choosing to self-study instead. This will lower your costs even further, as you will only be paying registration, examination and invigilation fees instead of full tuition and resource fees. However, note that you will not be able to take a PTPTN loan to study ACCA at private institutions, while you can for a degree.