Acca + Cfa as a career prospect?

mohsintcs · 01-11-2009, 12:29 PM

I am an Acca professional scheme student.and plan to pursue CFA after completing ACCA.would this combination be relevant?
Further i am about to join the big 4 audit firms in Karachi,so how would this experience help me with the CFA requirements of 4 Years experience.should i get into the risk and consultancy department of the audit firm?
response would be highly appreciated

mroneflower · 01-11-2009, 08:21 PM

Audit firm experience has nothing to do with CFA. ACCA and CFA are two different fields.

Khalid

mohsintcs · 01-12-2009, 11:22 AM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by mroneflower
 Auit firm experience has nothing to do with CFA. ACCA and CFA are two different fields.

Khalid
<hr height="1" noshade id="quote"></blockquote id="quote">

bu isnt the management consultancy related with CFA in th audit firms?

mroneflower · 01-12-2009, 01:07 PM

I do not think CFA is related to management consultancy. According to my information CFA is related to Finance or Financial management. Secondly pakistani market is not mature enough for CFA, therefore no use of CFA is Pakistan. Pakistani market is not even mature for ACCA and ACA.

Why you want to do CFA after ACCA, y u want to change your field.

Anyway if you want to do CFA, best of luck, Its sound you like studying and want to study throughout your life. One qualification is more than enough, after gaining one qualification one should concentrate of using knowledge gained through qualification rather going qualifications after qualification.

have you ever thought when you will use your knowlege gained in ACCA 3.6 or p2 paper, 3.7 or p4 paper, ie prepare groop financial account including foreign subsidiaries etc or carry out investment appraisal involving foreign currency etc, may be never in your life or if you will use this knowledge then it must be after having at least 10 yrs post membership experience.

You do not have other things to do in life?. Can I ask who is giving these kinds of advice in Pakistan to students to go for qualifications after qualifications.

Anyway best of luck with your studies.

Khalid

mohsintcs · 01-12-2009, 02:05 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by mroneflower
 I do not think CFA is related to management consultancy. According to my information CFA is related to Finance or Financial management. Secondly pakistani market is not mature enough for CFA, therefore no use of CFA is Pakistan. Pakistani market is not even mature for ACCA and ACA.

Why you want to do CFA after ACCA, y u want to change your field.

Anyway if you want to do CFA, best of luck, Its sound you like studying and want to study throughout your life. One qualification is more than enough, after gaining one qualification one should concentrate of using knowledge gained through qualification rather going qualifications after qualification.

have you ever thought when you will use your knowlege gained in ACCA 3.6 or p2 paper, 3.7 or p4 paper, ie prepare groop financial account including foreign subsidiaries etc or carry out investment appraisal involving foreign currency etc, may be never in your life or if you will use this knowledge then it must be after having at least 10 yrs post membership experience.

You do not have other things to do in life?. Can I ask who is giving these kinds of advice in Pakistan to students to go for qualifications after qualifications.

Anyway best of luck with your studies.

Khalid
<hr height="1" noshade id="quote"></blockquote id="quote">

thanks for your interest khalid Bhai
i was reading your reply reagarding CFA's releveance in the pakistani market in another thread too.it was very difficult to digest the fact that such qualifications are of no use in pakistan.anyway,my intention is not to stay in pakistan so no need to worry about this factor.and when i qualify acca,inshallha and hopefully i wd be hardly be 21.so i hav time to go for another ambitious degree,to add value to my CV,
the options available for me are CFA and CA.but i dont think CA would benefit me after completing ACCA.so CFA is the only viable option apparent.
besides,i know of many cfas working in ferguson in the management division on the complex Basell 2 projects.
the only concern for me is that i dont want to get in the banking sector due to religious ideas.
so im trying to figure out a career,if there is in any other market with CFA.

mroneflower · 01-13-2009, 05:46 AM

I already gave you my advise.

Good luck with your CFA.

khalid

ali_boy9 · 01-13-2009, 06:46 AM

well dear ... ACCA no doubt is only a support for one to get ready for other qualifications. ACCA has(i've to admit) become a first step for getting ready for other qualifications such as icew, cpa, cfa... i mentioned the utmost demanded professional bodies.
In my opinion going for CFA after ACCA shall really be very beneficial for you.. it will not only make you a very respected professional but it will also let you earn what you desire of.
the only thing that matters is what you aim for.. AUDIT.. FINANCE..TAX etc..
well no doubt FINANCE is BEST among the mentioned ones. and after completing CFA and having an experience of couple of years.. your ladder of sucess will touch the sky.
and you can easily be placed in high FINANCE positions... no doubt CFA can let you become FD or even CFO.
We all should agree CFA is the best profesional qualification..
and if you have plannings to settle outside PAK. then ACCA+CFA IS BEST COMBINATION.
level 1 and 2 shall be easier for you after acca.

BEST OF LUCK FRIEND..

ALI

ali_boy9 · 01-13-2009, 06:49 AM

and by the way ACCA and CFA are not really different fields... ACCA are also FDs like CFAs...
anyways.....

PEACE OUT !!!!

mroneflower · 01-13-2009, 07:49 AM

if ACCA and CFA are not different qualification, then what is the point to do CFA after ACCA. I think we as a pakistani wants to do all those things which are new to us. If ACCA and CFA both are DF what is point to both both qualifications.

Ali its your personal opinion that ACCA is stepping stone towards other qualification. I have not seen anyone in UK who started CFA after ACA or ACCA.

If someone wants to do CFA then y not do Master isn finace first and then CFA what the point to study tax, audit and accounts in ACA and ACCA. It is called wastage of time, money and energy.

Anyway I am not interested in any debate. If anyone wants to do CFA after ACCA or ACA I have no problem.

Khalid

ali_boy9 · 01-14-2009, 02:54 AM

WELL dear khalid... CFA is more advanced in FINANCE than ACCA. i myself have plannings of going for CFA after ACCA.
one more thing.. which everyone will agree..
there's competiton everywhere.. so everyone wants him/her self to be more wanted than the other.
a person with acca and cfa will be preferred over a simple acca. YAR WE MUST DMIT THE REALITIES. I m proud im doing ACCA coz here in saudia arabia there's just too much of emand for accas... \anyways .... everyone have right to do what they want to...

mroneflower · 01-14-2009, 01:48 PM

One more interested news that CAT from ACCA is eligible for exemption from ICAEW 5 papers where ICAP full members are only eligible for ICAEW 11 papers.WHAT GOING ON ICAP PEOPLE.

And there is very high possibilty that ICAEW will launch its full programme in Pakistan.

I will confirm from ICAEW tomorrow what will be tarining (article) period for CAT student.

I am going to give good news to ACCA members very Soon regarding ICAEW membership, you may need to give only one ICAEW paper if you have two yrs post ACCA membership experience. Means ACCA members with two yrs experience will not need to undergo ICAEW any training which in turn means ACCA experience will be fully recognised by ICAEW. That is why I say ACCA student should not worry about ICAEW. Just wait for couple of yrs and see what happen in European accountancy profession and with ICAP.

Khalid

ali_boy9 · 01-14-2009, 05:55 PM

YAR KHALID AMAZING NEWS FOR CAT STUDENTS... I'M WAITING FOR MY CAT RESULT IN FEB... CAN YOU GUIDE ME FROM WHERE CAN I REGISTER FOR ICAEW AND STUDY in PAKISTAN..

mroneflower · 01-14-2009, 10:43 PM

Ali can I ask as been just a CAT student Y yiu calimed ICAP is better tahn ACCA or one should do CFA after ACCA.

ali I do not want you feel bad but my dear brother you do not have enough knowledge about accountancy as being CAT student so please do not calim such claims in future.

I will prove information about ACA from ICAEW under WHO WANTS TO DO ACA FROM ICAEW thread.

Khalid

ali_boy9 · 01-15-2009, 06:42 AM

well dear bro khalid ... ONE DOESNT GET KNOWLEDGE BY SIMPLY STUDYING.. YOU CAN FIND " PARHE LIKHE JAHIL" AND SO DOES IT DONT MEAN THAT A STUDENT OF CAT DONT HAVE AWARENESS OF THINGS.. YOU SIMPLY UNDER ESTIMATED ... WELL I GUESS ALLAHUMDOLILAH IM MUCH AWARE OF EVERYTHING IN SO CALLED " ACCOUNTANCY" . YOU DONT GET KNOWLEDGE ABOUT OTHER BODIES FROM THE ACADEMICS YOU STUDY. IN MY FAMILY MASALLAH MAJORITY IS RELATED TO AUDIT N FINANCE. AND IM GETTING GUIDANCE FROM MY FAMILY MEMBERS. SO HOPE YOU DONT UNDER ESTIMATE ANYONE NEXT TIME... AS WE ARE NOT SOLVING ANY CASE STUDY WHERE "ACCOUNTANCY" KNOWLEDGE IS CONCERNED...

PEACE OUT DEAR !!

mroneflower · 01-15-2009, 08:33 AM

its nice to know that you said so called accountancy. You accountancy is not real, Interesting.

Best of luck with your so called accountancy studies.

Khalid