Selecting the right chartered accountant in Nepal is a critical decision that shapes your career. Many students who enter accounting certifications for the first time struggle to choose between ACCA vs ICAN Nepal. Both qualifications offer excellent opportunities, but the right one for you depends on your career goals.
This article will help you understand ICAN (Institute of Chartered Accounting in Nepal) vs ACCA, comparing their benefits, challenges, and career opportunities in Nepal. Read along and see what the differences and similarities between ACCA and ICAN.
Full form of ICAN
The Institute of Chartered Accountants of Nepal is the official body responsible for regulating the accounting profession in Nepal. It was established in 1997 in Nepal and follows the accounting standard of Nepal to make certain the professional competence.
Full form of ACCA
The Association of Chartered Certified Accountants (ACCA) is a professional body for accountants and a globally recognized. Founded in the UK, it has over 200,000 members worldwide and offers international career opportunities in finance, audit, and financial planning.
Supporting point for ACCA
Here are some benefits of ACCA that make it a popular career in accounting and finance. Below are some points that support this statement.
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Global Recognition
ACCA is accepted worldwide in over 180 countries, this will make ACCA a highly popular education. Moreover, its international acceptance gives opportunities to students to work worldwide.
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Broad career opportunities
Opportunities after doing ACCA are not narrow, instead there are wide career options for students who completed their ACCA. You can work as an audit, tax management, and financial analyst across different countries.
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Flexibility
Students can study ACCA from anywhere in the world. As there are mostly online options of study available, which can be adapted with work and study. Moreover, hybrid and blended learning is also available if anyone is comfortable with it.
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ACCA courses in Nepal
Many learning institutes offer ACCA courses in Nepal. This will make sure that Nepalese students can get access to ACCA education.
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Practical Experience
ACCA requires three years of practical experience, preparing students for real-world accounting challenges.
Supporting Points for ICAN
Students who aim to build a career in Nepal, specifically ICAN, is the best choice for them. Here are the reasons that favours ICAN
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Local recognition
Preference is given to ICAN members by Nepalese firms and businesses, especially those that need expertise in local taxation and financial laws.
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Government preference
The Nepalese government promotes Nepalese-qualified accountants for different public sector roles.
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Affordability
In comparison to ACCA, ICAN is more affordable. This will make ICAN accessible to students who are facing financial challenges
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Accounting Standards in Nepal
ICAN follows local accounting standards, making it the best option for those who want to work within Nepal’s financial system.
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ICAN (Institute of Chartered Accountants of Nigeria) Subjects
ICAN has three stages:
1. Foundation Level
- Financial Accounting
- Management Information
- Business and Finance
- Business Law
- Taxation
- Economics
2. Skills Level
- Financial Reporting
- Audit and Assurance
- Corporate Strategic Management and Ethics
- Performance Management
- Public Sector Accounting and Finance
- Financial Management
3. Professional Level
- Corporate Reporting
- Advanced Audit and Assurance
- Strategic Financial Management
- Advanced Taxation
- Case Study
ACCA (Association of Chartered Certified Accountants) Subjects
ACCA is divided into three levels:
1. Applied Knowledge Level
- Business and Technology (BT)
- Management Accounting (MA)
- Financial Accounting (FA)
2. Applied Skills Level
- Corporate and Business Law (LW)
- Performance Management (PM)
- Taxation (TX)
- Financial Reporting (FR)
- Audit and Assurance (AA)
- Financial Management (FM)
3. Strategic Professional Level (Divided into Essential and Optional Papers)
Essential (Compulsory)
Optional (Choose Two out of Four)
- Advanced Financial Management (AFM)
- Advanced Performance Management (APM)
- Advanced Taxation (ATX)
- Advanced Audit and Assurance (AAA)
What to choose: which is better for you?
The choice between ICAN vs ACCA depends on your career goals and affordability and personal interest as well. Still
- Choose ICAN if you want to work in Nepal, and get government job opportunities. Moreover, if one wants to specialize in accounting and finance one can select ICAN.
- Choose ACCA if you seek international career opportunities, flexible learning, and expertise in financial planning and global finance
If one aims to work in the Nepal government or local accounting firms, ICAN is the better option for them. But, if you want to work with international firms and multi-national companies or want to get abroad exposure ACCA is the better and superior choice.
Comparison between ACCA and ICAN
| Criteria | ICAN | ACCA |
| Recognition | National(Nepal) | Global |
| Course duration | 4-5 years | 3-5 years |
| Cost | Affordable | Expensive |
| Career scope | Nepal-based firms and government | International firms and MNCs |
| Flexibility | Structured exam | Flexible learning |
| Practical training | Required | Required 3 years |
| Specialization | Nepalese accounting laws | Global finance and audit |
In conclusion
ACCA and ICAN both provide excellent alternatives for professionals. your choice in between these two depdns upon your circumstances and personal interest as well. Your decision should be in line with your future employment goals and career aspirations. ICAN is perfect if Nepal is your main concern. The ACCA is the best option if you’re looking for possibilities abroad.
Frequently asked questions
Can I study ACCA in Nepal?
Yes, there are many ACCA colleges in Nepal offer blended, face-to-face, and remote learning options for students in Nepal. Moreover, online learning enables them to study from any part of te world.
