True it's just another acronym but it's fast gaining more recognition than just ACCA imo... here in the UK there are barely any graduate schemes offering ACCA they all are offering ACA or ICAEW (same course/qualification) they ACCA has recently stepped up it's game to make the ACCA syllabus more like the ICAEW syllabus... at least audit wise... P7 from next year onward will look like the ICAEW Audit paper...
lol trust me he's the CEO of AirAsia and he holds ACCA qualifications (it's often mentioned during ACCA talks it's like yea ok.........)

Even in Australia, most companies adapt accounting practice that recognises more of CPA's and Australian CA's, just like
ICAEW in UK, HKCA in HK, however on an international scope, ACCA is still one of the earliest to establish globally.
the Gaining of recognition is a process of standard globalisation, local demand would depend on practical preference.
But in big multinational companies, the distinction wont be huge as they emphasis on quality recruitment than anything else.

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Added on December 20, 2010, 2:11 pm
Perhaps a rephrase would make things much better:

An accounting student should pursue Accounting standards qualifications for career purpose.
A student that has ACCA can also branch into other sectors, as no matter what ur career is, you are still
registered as a qualified accountant/auditor.

I am also pursuing CPA & CA qualfications through my accounting degree with no intention of being an accountant,
or worst (Auditor). lol.