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+--- Thread: Canadian Immigration and ACCA, CIMA, CFA or CMA (/showthread.php?tid=5192)
- amirr - 02-10-2009
Dear friends
I am new to this forum and planning to move to Canada
I have MBA degree in finance and working as Planning Manager in Pakistan
Kindly help me out with following
what additional qualification I require to work in CA ?
I my MBA gets any recognition in CA or I get any exemption ?
Is their any online certification available which I can study here before moving to CA?
Kindly send me your valuable advises
Thanks& Regards
- sumairalam - 02-10-2009
Dear Amirr,
Please note the following points
MBA degree must be awarded by recognized university and MBA program must be recognized by HEC.
You will get exemptions in MBA program in Universities of Canada. subject to the above condition.But your MBA program will not get equivalency, but you have to study further to get Canadian MBA.
You can go for CIA , CFA , CISA all non-Canadian certification but acceptable in Canada.
- Toronto_Boy - 02-11-2009
Dear Amirr
If you land in Ontario, after a year you can get OSAP Ontario Students Assistance Program loan for any kind of studies including MBA.
Your MBA, if recognized, makes you elligible to find a job in CA firms. But practically speaking due to competition and foreign degree with non-Canadian experience, chances to secure a job in CA firms are low. Still, you can try in industry for accounting jobs.
Before landing here, you can start ACCA, CFA, CMA(IMA), CIA, CISA etc. and after landing you can start Canadian MBA or local accounting designations.
If you really wanna come in accounting field after immigration, then I would suggest for ACCA courses before landing, as you can get exemptions for CGA based on courses you completed in your MBA (if recognized) and ACCA. But this suggestion assumes that you wanna enter in accounting field in Canada.
As you have MBA in Finance, I would also suggest you to study for CFA rather then ACCA. CFA is quite famous and well regarded in Canada/USA both. Though it is little difficult, but certainly has better prospects.
I hope it helps.
Regards
- amirr - 02-22-2009
Thanks for your valuable advise
I have started ACCA and have cleared five of initial papers...
About CFA its good advise but I was wondering I have never been in banking industry and my most of the experience relates to core finance in industy I mean no experience in treasury area. But cettianly CFA is more decent choice
Beside this I need your word on. I have quite ecent experience in Compensation and Benefit Funds of employees and also had my by majors in Human Resource division, would this will he3lp me to get job in intially.
Regards
AMIR
- Toronto_Boy - 02-22-2009
Dear amirr
Well neither I wanna influence your decisions nor stressing upon CFA, but I think your work experience in finance in industry and with Compensation and Benefit Funds is quite relevant for experience requirement of CFA. Please see details of experience requirement and discuss further with some CFA member/student. Just drop an email to CFAI or ask at analystforum website. Having treasury or banking experience is not necessary to get CFA charter.
As far as Canada is concerned, any educated person can have an office job initially, but in my view, it is more of a matter of one's luck rather than education. Uncountable immigrants with suitable qualifications and experience, land in blue collar jobs here. Some of fortunate one eventually get relevant jobs later. So to me it is all your luck. Efforts may or may not bring fruit.
Moreover, jobs in HR are more difficult to achieve, simply because locals would have much more edge over an immigrant due to personal traits like english as first language, turn out, knowing the system etc.
Accounting is zillion times better than HR, atleast one can start from lower level. CFA and finance is better than ACCA as in short-run it provides you same kind of jobs (though both are different fields), and in long-run, its earning potential is much more than accounting in Canada for an immigrant. These words are written in reference to Canada for an immigrant. It may be different in other parts of the world or for locally brought-up Canadians.
Again evaluate yourself. If you already very much in ACCA then go for it.
Hope it helps.
Regards
- Toronto_Boy - 02-22-2009
Dear amirr
Oh yes, 9 or 10 more papers of ACCA you are left with are much easier as compared to start CFA from scratch. At-least you can get CGA here because of ACCA. Then your life would be easier here. I would strongly suggest to you and other students of ACCA who are also prospective immigrants of Canada to finish ACCA ASAP or as much papers as possible before coming, because after landing life would be very difficult, and paying Cad$ 700 to $800 for each of CGA course and annual subscription would be difficult specially if one is making money at low wages initially. Please see feeses at CGA's website. Moreover, CGA does not allow more than one course at a time, so the completion time becomes lengthy and unbearable. Also, CGA courses are very demanding make student's life miserable.
Hope it helps.
Regards
- CFANerd - 03-09-2009
TORONTOBOY
Generous thoughts indeed. i was laughing at your comments about KHALA. LOL. Canada might still be a land of opportunity and polar bear. US is becoming land of high taxes and unemployment.
- rabia-k - 03-09-2009
atleast US citizens get some sort of benefits, in case of unemployment, from their govt, unlike in our countries.
- Toronto_Boy - 03-10-2009
Dear CFANerd
Thanks... Nah, Canada is samo samo as US these days. By the way, I don't know how come you guys complain about high taxes there. I don't know which State you live in, but in Ontario, Federal and Provincial Sales taxes (on almost every thing) together on Sales is total 13% (GST 5% + PST 8%). I never saw these so high in States. Leaving income taxes aside.
Regards
- Toronto_Boy - 03-10-2009
Dear rabia-k
You have raised a good point. List of benefits is long. Basically, system supports residents here. System does not leave its residents alone on road here. For example, I talk about Canada where I live in. Canada is a welfare country, no matter there is recession or not. Theoretically speaking, a person can live a whole life without doing a job, still enjoying free medical services, medicines, some monthly amount for expenses, food, and shelter or housing in case of family. Please don't take the false impresion that people don't do jobs, but actually government engages him/her in positive job oriented skills and activities, so eventually he/she starts doing some sort of job if he/she did not have any. That person's kids would be going to same schools where other 99% of other kids would be going, without payment of any fee, payment for books, vans, lunch, study trips etc. Each elligible family with kids receive some reasonable monthly amount from government for every single kid in house each month till age of I think 13 (I am not sure). Schooling is completely free for all residents (read again not Citizens but just residents). Similarly, medical treatment i.e. doctors fee and hospitalization is completely free for all legal residents, though low income elligible legal immigrants can also get free medicines. Free and equal access to medical and education benefits and facilities are same for all. For government, there is no differentiation among humans based on their income levels. Every one gets the same free medical or education benefits as all other. Though some rich people send their kids in elite private schools too, but that portion is almost negligible.
Till grade 12 all education for every kid is free and assured by government. After grade 12, students get loan from banks for almost every kind of study, which they repay with some interest in future years, if they get a job. Government/banks waive the principal and interest if they don't have a job and income. The burden would be low, if income is low.
Government deducts some amount from every employed person's pay cheque as "Employment Insurance EI" as well as "Canada Pension Plan CPP". When that person gets unemployed, government automatically starts sending a cheque (at home or as direct deposit in person's bank account) within 2 to 3 weeks to that unemployed person. That unemployed automatically become elligible for several other government assistance programs and skill enhancement/ education improvement programs etc. Retirement age is 65 years, so when a person is retired, he/she automatically starts getting pension cheque from government for rest of his/her life. Same is the case if someone becomes disable due to any reason or accident, the government supports the person (for rest of life through disability benefits) and family by any means. It all happen without paying any single penny as bribe or reference (i.e. sifarish) etc., though everyone must have to wait in queue for his/her turn. To finance all these and to run affairs of government, the various levels of governments levy high taxes, but people pay those because, first they cannot avoid taxes as the law and its implementation is strong and consequences of avoidance are far reaching, and second people know they would get all type of benefits back when they need.
List of benefits is very long. Simply speaking, the system is quite strong and helping. This is the reason that about 300,000 professionals (though desired applicants are much more than 300,000 each year, but Canada intakes only 1% professionals of its own population) from all over the world immigrate to Canada each year knowingly that there are strong chances that they not gonna get professional jobs in initial months/years.
Regards
- rabia-k - 03-10-2009
these benfits are also provided by the UAE govt, but ofcourse only to UAE nationals not expats. dont even expect free medical treatment, even at govt hospitals, despite spending a good amount on the "health card".
- sumairalam - 03-11-2009
Dear ,
UAE is generally a tax free society , especially there is no income tax or sales tax. But still Govt is doing a good job in respect of welfare of citizens and residents.
Education is free in UAE in Government schools ( if you want to enroll your child in Arabic speaking school).
For medical treatments , emergency is without any charges , for consultation AED 25 is payable. Depending on the hospital in which you enrolled at time of visa issuance , all services are free.
Still the country can do lot more for residents but having less than 20% of citizen of total population I feel that it will take more time to compete with the facilities available in Canada / USA.
Theoretically zero% crime rate , clean environment , world best entertainment and luxury facilities , UAE is on the other hand having the edge over the west.
Best Regards
- kamranACA - 03-11-2009
Sumair,
I sometimes fail to understand that all the criminals eventually hide their heads at UAE but there is no crime. We have lots of examples. All indian absconders are there. All corrupt politicians are there. Still, this UAE is crime-less, clean, and peaceful.
It's a fact, I know, but it's really amazing.
Regards,
KAMRAN.
- rabia-k - 03-11-2009
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by sumairalam</i>
<br />Dear ,
UAE is generally a tax free society , especially there is no income tax or sales tax. But still Govt is doing a good job in respect of welfare of citizens and residents.
Education is free in UAE in Government schools ( if you want to enroll your child in Arabic speaking school).
For medical treatments , emergency is without any charges , for consultation AED 25 is payable. Depending on the hospital in which you enrolled at time of visa issuance , all services are free.
Still the country can do lot more for residents but having less than 20% of citizen of total population I feel that it will take more time to compete with the facilities available in Canada / USA.
Theoretically zero% crime rate , clean environment , world best entertainment and luxury facilities , UAE is on the other hand having the edge over the west.
Best Regards
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
i didnt know about the emergency services you are talking about. true the crime rate is very low and world class entertainment and luxury facilities, but ofourse they are not for the majority of the middle class working expats . the GOVT is very discriminatory towards expats. there are expats living here for 35 to 40 yrs, even served in the army, speak arabic as good as local arabs but still have to look around for a visa every 3 yrs.
non arabic speaking expats,that form bulk of the uae population,
usually dont send their children to local arabic schools.uae can never have an edge over the west.
Mr Kamran you are very right, but all this goes unreported. UAE is a kingdom (sheikhdom) after all.
- sumairalam - 03-11-2009
Dear Kamran ,
The geographical location, language spoken ( After Arabic, Hindi/Urdu 2nd language) , time zone and entry requirements provides Dubai(not UAE) a good choice to live and visit. Further the availability of entertainment facilities makes Dubai a second home for various personalities who can afford to live outside his/her country but also does not want to shift permantely.
There is no other place in surrounding countries ( with relation to India/Pakistan) where all such facilities are available.
What I think, these people mutually agreed that they will not play foul game in this country to safeguard their own interest.
Further UAE also puts strong controls to prevent general crimes.
Occasionally mishaps happened particularity after Oct 2008 , but these usually related to burglary and in some cases snatching but without the show of ammunition.
It is common perception that UAE Government discourage to report these types of crimes , generally newspaper will not issue reports till the time case is resolved.
Ms. Rabia
Emergency service is available to all inhabitants of UAE ( Allah will save all of us), further providing the nationality or not is the matter of policy, I dont want to open a new debate but if you just see around you , you will find various person who are living in their country for many years ( sometime more than 30 years) but still not accepted by their respective countries although their parents or forefathers were the nationals.
Best Regards