08-05-2009, 03:04 AM
I think future readers of this thread might be interested in following post and perhaps in my reply, so I am copying these here for them.
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by isookvi</i> Posted - Aug 03 2009 71802 PM
<br />Hi all,
This is my first post here. And I m sure that this question has been asked a million times before but I have searched around and they are quite old. So, I thought I should post a new one. I really need your advice. I m thinking of doing my rest of ACCA from uk. Af this december sitting I INSHALLAH will clear my fundamentals skills module.
Now the thing is I have everything ready for the visa(uk)requirements, college fees etc. just need to make the final move. But I m having second thoughts. The only reason I want to go there is that I think I will be exposed to more opportunities, different experiences which shape a person in one way or another. Because London is supposed to be the financial capital of the world. As I have never been to a university I dont wanna left behind on personal grooming skills like communication skills etc. I hope you are getting what point I am trying to make here.
Anyways I just want to know if one can get into a good firm. How to get a work permit? Is that very difficult to get? Moreover, I plan on doing CA(ICAEW) or CFA after ACCA. Will going to UK help in this matter or not? I have heared its very difficult to get a training contract for CA(ICAEW), nearly impossible. What is your take on that?
I will be applying my visa on my canadian passport for UK. Will that help in any way?
Also my brother lives in Canada. So, I can live more easily in canada as I have citizenship. So, Can ACCA be done in Canada? If I complete rest of my exams in Canada and then go for CA(CICA). Will that be a good choice? One thing I have a confusion with is that whether the exemptions offered to ACCA by CICA are for affiliates or for full members?
Anyways given my current situation, what do you think I should do if I want to move to canada for CA or CFA. Will I get any exemptions from CGA on the exams I have passed of ACCA. Get CGA and then go for CA or CFA. Moving to Canada is not much of a problem for me. What about ACCA in Canada from stoufville college?
What I have in mind is to go to canada, finish off my rest of ACCA there which will atleast take an year. In the mean time I shall be eligible for study loan and then apply to a college or self study for CFA which I really wanna do. The thing that worries me the most is that if I wont fulfill PER after ACCA and unable to complete CFA then it can become a huge problem right? Can one get training for CFA after level 1? If yes, will that count for my ACCA as well?
Please guys I need your advice esp. guys from uk and canada( Mr.Torontoboy)and I need it fast. Your advice can make or break my decision.
Looking forward to your replies.
Thankyou.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
My Reply;
Dear isookvi
Have some patience my friend. I was away on this long weekend so couldnât reply you earlier. Any way here are my two cents, assuming that you are located in Pakistan or in a country where ACCA resources are available in abundance.
Though it is your own decision, but if I would be in your shoes with Canadian passport in pocket, Canada would be my natural destination rather than UK. In my opinion, you may stay in Pakistan for another 2 or 3 years. Complete your ACCA courses in Pakistan, degree, and satisfy experience requirement with any job in Pakistan which you may start soon, and then 3 years later come to Canada. After that transfer your ACCA courses for CGA. CGA gives paper to paper exemptions for ACCA courses. If you would be ACCA member after 3 years then you may get CGA directly, otherwise you would have to complete few final level CGA courses, after having paper to paper exemption.
Remember all 3 Canadian designations require a degree, which you donât have right now. If you go for degree in Canada, you would have to wait for study loan for a year, and you would easily end-up with more than 40K-50K loan for 3 or 4 years degree. Stoufville college is kind of small private college and quite expensive. You would have to pay college tuition in addition to ACCA fees. Generally speaking, employers do not ask for ACCA but need Canadian designations, so it would affect your employability if you study for ACCA here unless you transfer into CGA or some other Canadian designation.
CICA has other complex requirements and needs a degree to be enrolled with. It requires 30 or 36 months training in pre-approved training offices (ATOs). Securing a job in ATOs is quite difficult task. However, after CGA you only need to take final UFE exam (of CICA) to become CA, and experience requirement would also likely be shortened. Though CICA is a good option, but the main hurdle for immigrants is first getting a job in ATOs. Usually ATOs pick fresh and sharp students directly from Canadian university campuses or through personal networks, which usually immigrants lack. So, if you are ready for study accounting from Canadian universities, maintain good GPA to be picked by ATOs, required grades for CICA, alongwith about $40K-$50K loan and personal hardship in life, then go for that.
After CGA, you may directly go for CFA here any time, if you donât wanna go for CA (CICA). Moreover, with ACCA membership, you may be CA(ICAEW) after 5 years automatically through CCAB, but save your efforts and do CFA. Thus 5 years after ACCA membership you might be ACCA, CA(ICAEW), CGA, and CFA. The real beauty is, actually you would have to work only for ACCA in Pakistan and CFA anywhere in Pakistan or in Canada. You would get CA(ICAEW) and CGA through MRAs (i.e. almost negligible efforts).
Therefore, students of ACCA in Pakistan may go directly for CFA after their ACCA. This combination would open many doors for them with maximum possible diversification, stability and earning potential. Generally speaking, jobs in accounting (i.e. with ACCA/ CA(ICAEW)/ CGA) are more stable and jobs in finance (i.e. with CFA) gives great earning potential. With ACCA membership one may get CGA membership, Canadian citizenship, passport and experience, with Canadian Citizenship move to USA to work as CFA (or one may get CPA too), one may go to Europe (with ACCA and CA(ICAEW)) any time or to Australia with ACCA CA(ICAEW) and CGA, and use all 4 in Middle East if someone moves there. Even with these 4 designations, international experience and passport, if one could not get a good job in Pakistan then oska aur Pakistan dono ka phir Allah Hafiz.
Therefore, you may groom personal skills in Canada 3 years later on more sound grounds with ACCA, CGA, university degree and experience. It would save you from study loan burden (at-least 40K), too many distractions, part time work besides full time study load. It would certainly be a long and hectic chase if you move to Canada now. As you already have Canadian passport, you should not be in hurry. I assume you are quite young and live with your parents in Pakistan. Life can be quite difficult when you would be at your own here. Further, you may also visit to Canada about 12 months before than you actually intend to move here, to have your bank account, medical card, driverâs license etc. to start your residency here from 1 year waiting time for study loan point of view, and then go back and finish rest of your ACCA membership requirements. After 12 months, when you permanently come here, you may get study loan for preparatory courses for CFA (if these courses are eligible for OSAP Loan).
I hope it helps. However, above are my views with which anyone can disagree. I have written these paras in Canadian perspective. Someone from UK may help you regarding questions about UK.
Best Wishes
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by isookvi</i> Posted - Aug 03 2009 71802 PM
<br />Hi all,
This is my first post here. And I m sure that this question has been asked a million times before but I have searched around and they are quite old. So, I thought I should post a new one. I really need your advice. I m thinking of doing my rest of ACCA from uk. Af this december sitting I INSHALLAH will clear my fundamentals skills module.
Now the thing is I have everything ready for the visa(uk)requirements, college fees etc. just need to make the final move. But I m having second thoughts. The only reason I want to go there is that I think I will be exposed to more opportunities, different experiences which shape a person in one way or another. Because London is supposed to be the financial capital of the world. As I have never been to a university I dont wanna left behind on personal grooming skills like communication skills etc. I hope you are getting what point I am trying to make here.
Anyways I just want to know if one can get into a good firm. How to get a work permit? Is that very difficult to get? Moreover, I plan on doing CA(ICAEW) or CFA after ACCA. Will going to UK help in this matter or not? I have heared its very difficult to get a training contract for CA(ICAEW), nearly impossible. What is your take on that?
I will be applying my visa on my canadian passport for UK. Will that help in any way?
Also my brother lives in Canada. So, I can live more easily in canada as I have citizenship. So, Can ACCA be done in Canada? If I complete rest of my exams in Canada and then go for CA(CICA). Will that be a good choice? One thing I have a confusion with is that whether the exemptions offered to ACCA by CICA are for affiliates or for full members?
Anyways given my current situation, what do you think I should do if I want to move to canada for CA or CFA. Will I get any exemptions from CGA on the exams I have passed of ACCA. Get CGA and then go for CA or CFA. Moving to Canada is not much of a problem for me. What about ACCA in Canada from stoufville college?
What I have in mind is to go to canada, finish off my rest of ACCA there which will atleast take an year. In the mean time I shall be eligible for study loan and then apply to a college or self study for CFA which I really wanna do. The thing that worries me the most is that if I wont fulfill PER after ACCA and unable to complete CFA then it can become a huge problem right? Can one get training for CFA after level 1? If yes, will that count for my ACCA as well?
Please guys I need your advice esp. guys from uk and canada( Mr.Torontoboy)and I need it fast. Your advice can make or break my decision.
Looking forward to your replies.
Thankyou.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
My Reply;
Dear isookvi
Have some patience my friend. I was away on this long weekend so couldnât reply you earlier. Any way here are my two cents, assuming that you are located in Pakistan or in a country where ACCA resources are available in abundance.
Though it is your own decision, but if I would be in your shoes with Canadian passport in pocket, Canada would be my natural destination rather than UK. In my opinion, you may stay in Pakistan for another 2 or 3 years. Complete your ACCA courses in Pakistan, degree, and satisfy experience requirement with any job in Pakistan which you may start soon, and then 3 years later come to Canada. After that transfer your ACCA courses for CGA. CGA gives paper to paper exemptions for ACCA courses. If you would be ACCA member after 3 years then you may get CGA directly, otherwise you would have to complete few final level CGA courses, after having paper to paper exemption.
Remember all 3 Canadian designations require a degree, which you donât have right now. If you go for degree in Canada, you would have to wait for study loan for a year, and you would easily end-up with more than 40K-50K loan for 3 or 4 years degree. Stoufville college is kind of small private college and quite expensive. You would have to pay college tuition in addition to ACCA fees. Generally speaking, employers do not ask for ACCA but need Canadian designations, so it would affect your employability if you study for ACCA here unless you transfer into CGA or some other Canadian designation.
CICA has other complex requirements and needs a degree to be enrolled with. It requires 30 or 36 months training in pre-approved training offices (ATOs). Securing a job in ATOs is quite difficult task. However, after CGA you only need to take final UFE exam (of CICA) to become CA, and experience requirement would also likely be shortened. Though CICA is a good option, but the main hurdle for immigrants is first getting a job in ATOs. Usually ATOs pick fresh and sharp students directly from Canadian university campuses or through personal networks, which usually immigrants lack. So, if you are ready for study accounting from Canadian universities, maintain good GPA to be picked by ATOs, required grades for CICA, alongwith about $40K-$50K loan and personal hardship in life, then go for that.
After CGA, you may directly go for CFA here any time, if you donât wanna go for CA (CICA). Moreover, with ACCA membership, you may be CA(ICAEW) after 5 years automatically through CCAB, but save your efforts and do CFA. Thus 5 years after ACCA membership you might be ACCA, CA(ICAEW), CGA, and CFA. The real beauty is, actually you would have to work only for ACCA in Pakistan and CFA anywhere in Pakistan or in Canada. You would get CA(ICAEW) and CGA through MRAs (i.e. almost negligible efforts).
Therefore, students of ACCA in Pakistan may go directly for CFA after their ACCA. This combination would open many doors for them with maximum possible diversification, stability and earning potential. Generally speaking, jobs in accounting (i.e. with ACCA/ CA(ICAEW)/ CGA) are more stable and jobs in finance (i.e. with CFA) gives great earning potential. With ACCA membership one may get CGA membership, Canadian citizenship, passport and experience, with Canadian Citizenship move to USA to work as CFA (or one may get CPA too), one may go to Europe (with ACCA and CA(ICAEW)) any time or to Australia with ACCA CA(ICAEW) and CGA, and use all 4 in Middle East if someone moves there. Even with these 4 designations, international experience and passport, if one could not get a good job in Pakistan then oska aur Pakistan dono ka phir Allah Hafiz.
Therefore, you may groom personal skills in Canada 3 years later on more sound grounds with ACCA, CGA, university degree and experience. It would save you from study loan burden (at-least 40K), too many distractions, part time work besides full time study load. It would certainly be a long and hectic chase if you move to Canada now. As you already have Canadian passport, you should not be in hurry. I assume you are quite young and live with your parents in Pakistan. Life can be quite difficult when you would be at your own here. Further, you may also visit to Canada about 12 months before than you actually intend to move here, to have your bank account, medical card, driverâs license etc. to start your residency here from 1 year waiting time for study loan point of view, and then go back and finish rest of your ACCA membership requirements. After 12 months, when you permanently come here, you may get study loan for preparatory courses for CFA (if these courses are eligible for OSAP Loan).
I hope it helps. However, above are my views with which anyone can disagree. I have written these paras in Canadian perspective. Someone from UK may help you regarding questions about UK.
Best Wishes