Difference between ACA and FCA?

Both of these chartered accountant types are Professional accounting qualification. ACA is an acronym for ASSOCIATE CHARTERED ACCOUNTANT while FCA means Fellow Chartered Accountant. Becoming an FCA is the pinnacle of your accounting career.

ACA – ASSOCIATE CHARTERED ACCOUNTANT

One can become an associate member of an accounting body when the person has finished a professional accounting program from a professional accounting body. A person will qualify as an ACA when they are inducted as a Chartered accountant. Therefore, ACA will be added to their names when addressing them.

FCA -Fellow Chartered Accountants

An accountant qualifies to be an FCA if he or she practices accounting i.e. working as an accountant, or working with an accounting firm for 5 years after qualifying for ACA. But if the person isn’t practicing accounting, it will take him or her 10 years to qualify as FCA. So while addressing the person, FCA will be included in their names.

In Pakistan, Members and affiliates of the Association of Chartered Certified Accountants (ACCA), as well as those currently studying the ACCA, are able to claim credits towards the ACA or FCA qualification and get ahead on their journey to qualify as an ICAEW Chartered Accountants. In Pakistan, members, affiliates and students of ACCA may be eligible for credits for prior learning for up to 12 out of the 15 ACA exam modules.

What is the difference between ASSOCIATE CHARTERED ACCOUNTANT and Fellow Chartered Accountant ?

So, in short, An ACA is the first step to becoming an FCA. You become an FCA after 5 years of practice as an accountant after qualifying for ACA. You don’t need to write any examination to qualify for FCA, just practice accounting for 5 years as an ACA while you will write some examinations before qualifying as an ACA. FCA is chartered accountant who holds certificate of practice for more than 5 years while ACA is a chartered accounts who holds certificate of practice for less than 5 years.