https://www.accountancy.com.pk/forum/ Mon, 06 Apr 2026 01:58:51 +0000 MyBB https://www.accountancy.com.pk/forum/thread-what-is-accounting-purpose-importance-relationship-to-business Tue, 25 Jul 2017 09:50:44 +0000 juliamoran]]> https://www.accountancy.com.pk/forum/thread-what-is-accounting-purpose-importance-relationship-to-business https://www.accountancy.com.pk/forum/thread-anyone-who-decided-to-change-fields-career-late-in-life Thu, 22 Jun 2017 21:06:02 +0000 Savak85]]> https://www.accountancy.com.pk/forum/thread-anyone-who-decided-to-change-fields-career-late-in-life
I then proceeded to work at Habib Bank Limited (HBL) for almost 2 years before my immigration to Canada came through in 2012. While i was a student in Pakistan, i also had the opportunity to do internships at GlaxoSmithKline, the Finance department of Agha Khan University and Hospital and an internship at Arif Habib Investments in Pakistan which totalled one year.

I had done a lot of homework prior to coming to Canada and was very well aware that my Pakistani qualifications and work experiences would have no real standing and that i had to acquire a local qualification and a strong, powerful one. At the time because i had already done an MBA before, i was personally less inclined to do another MBA. I was also well aware that Canada's job market for most professions and fields is badly over saturated and that plenty of fresh graduates have difficulty finding jobs in Canada.

I after speaking to a few family members and close friends, thought about pursuing the CPA designation in Canada. I then got in touch with the Institute and was very impressed with their presentations, discussions where they provided all sorts of facts and figures that as an articling student you will earn this much, with 3 years of experience and a designation you will earn this much and with 5 years of experience with the designation you will break into six figures. At the time my thought process was, instead of trying to do another MBA why not just diversify and do accounting.

So that is what i decided to do, i enrolled myself at a University in Toronto, took all the CPA prerequisite courses while i did odd jobs on the side to support myself and also worked as a volunteer in a book keeping firm to add some relevant experience to my CV. Everything in University sounded extremely rosy where all the Accounting professors would talk about the subjects, the profession from the big 4 perspective, what life was like in the Big 4 firms or major mid sized firms. I did decently in the CPA courses that i took and thought i was in the right direction.

However upon graduating, it was indeed very hard to get that first opportunity but after a few months of struggle i finally got into an accounting firm. But i have now worked for approximately 3 small accounting firms now in 2 years and slowly and gradually my passion, intensity for this field has declined in a massive way, i am just basically going to the motions.

The pay scale in these small firms is terrible and even with experience in this province, you will at best be paid close to minimum wage which is $15/hr now. Just because you were being paid $18/hr at your previous firm is no guarantee of that is what you are going to be offered and of-course there is absolutely no job security in these small firms either. The other frustrating bit in these small firms for me is that i have been forced to work over time without any over time pay, without any appreciation and have been forced to work on some statutory holidays and on some weekends which i did without any complaints but with very little appreciation. My health has gone for a complete toss where i have just not been able to focus on my eating habits, exercising, gymming, swimming and other elements of my personal life.

I have tried very hard in the last 2 months to study for the accounting exams but somewhere along the line i eventually could not motivate myself to do it anymore and i started to ask myself

"Do i seriously want to keep doing this for the rest of my life given that i am 32 years old now?"

"Do i really like this field, does it excite me?"

"Am i not better off doing something else i.e. using my energies wisely?"

"Am i really happy with the quality of life i am living?"

So in the last few days, i have now more or less decided that i no longer want to pursue accounting or the CPA designation anymore in Canada. The designation is not all what it is portrayed to be, it is not necessarily the high paying field that the Institute and Accounting Professors in University like to sell it to be, i have seen the lifestyle and the amount of money that partners in small firms make and the amount of stress they have to deal with and trust me, the risk to reward ratio is not always appealing.

Plus i also have to now come to terms with my own aptitude and limitations, i don't really want to live a life for the next 3-4 years where i am working late hours, coming home late and then having to worry about studying for exams and not doing things i enjoy like exercising, gymming, swimming or spending quality time with family, friends e.t.c.

So all these factors combined have now more or less led me to acknowledge that i made an error in deciding to opt for the accounting field as far as i am concerned and i am no longer going to be held hostage to the sunk cost problem where i am like "I have devoted so much time and effort to this field, designation, how can i give up now?", if i am not enjoying the field, if i don't like my lifestyle then i need to make a decision now and move on.

I became a Citizen of Canada last year so i am not bound to Canada as such anymore. I am now keeping all my options open but am more keenly looking at options outside Canada. But based on discussions with a few friends and other people i know i have the following options

1) To see if you can get any job in the US based on your Pakistani MBA and use the TN Visa to your advantage

2) To look into the possibility of doing an MBA from a decent ranked school in the US if you really want to improve your career prospects and earning potential in the US

3) To look into the Middle East where you can either utilize your Pakistani MBA or if you decide to pursue a US MBA, then utilize that and see if your Canadian Passport can help you as well

4) Whether my Canadian Passport which allows visa free travel to 150 countries in the world along with my MBA from IBA can help me secure a good high paying job in Pakistan?

5) I cleared my CFA Level 1 exam a few years ago, i can look into getting back to studying for this designation as it only deals with 1 exam a year which should be easier to manage with a job provided it is related to my job and field

6) Worse come to worse, look into business and entrepreneurship possibilities.

I am going to be meeting a few highly recognized Career Counselling Services where they do many in-depth tests, personality and temperament tests, interviews and then they discuss potential fields, career choices better suited to your personality.

Anyways, the purpose of this thread was to reach out with people and see if anyone has ever decided to change careers or get out of a field that they discovered that they weren't really enjoying? It will be great to hear from you guys and get some feedback on my situation and my options.

Regards]]>
I then proceeded to work at Habib Bank Limited (HBL) for almost 2 years before my immigration to Canada came through in 2012. While i was a student in Pakistan, i also had the opportunity to do internships at GlaxoSmithKline, the Finance department of Agha Khan University and Hospital and an internship at Arif Habib Investments in Pakistan which totalled one year.

I had done a lot of homework prior to coming to Canada and was very well aware that my Pakistani qualifications and work experiences would have no real standing and that i had to acquire a local qualification and a strong, powerful one. At the time because i had already done an MBA before, i was personally less inclined to do another MBA. I was also well aware that Canada's job market for most professions and fields is badly over saturated and that plenty of fresh graduates have difficulty finding jobs in Canada.

I after speaking to a few family members and close friends, thought about pursuing the CPA designation in Canada. I then got in touch with the Institute and was very impressed with their presentations, discussions where they provided all sorts of facts and figures that as an articling student you will earn this much, with 3 years of experience and a designation you will earn this much and with 5 years of experience with the designation you will break into six figures. At the time my thought process was, instead of trying to do another MBA why not just diversify and do accounting.

So that is what i decided to do, i enrolled myself at a University in Toronto, took all the CPA prerequisite courses while i did odd jobs on the side to support myself and also worked as a volunteer in a book keeping firm to add some relevant experience to my CV. Everything in University sounded extremely rosy where all the Accounting professors would talk about the subjects, the profession from the big 4 perspective, what life was like in the Big 4 firms or major mid sized firms. I did decently in the CPA courses that i took and thought i was in the right direction.

However upon graduating, it was indeed very hard to get that first opportunity but after a few months of struggle i finally got into an accounting firm. But i have now worked for approximately 3 small accounting firms now in 2 years and slowly and gradually my passion, intensity for this field has declined in a massive way, i am just basically going to the motions.

The pay scale in these small firms is terrible and even with experience in this province, you will at best be paid close to minimum wage which is $15/hr now. Just because you were being paid $18/hr at your previous firm is no guarantee of that is what you are going to be offered and of-course there is absolutely no job security in these small firms either. The other frustrating bit in these small firms for me is that i have been forced to work over time without any over time pay, without any appreciation and have been forced to work on some statutory holidays and on some weekends which i did without any complaints but with very little appreciation. My health has gone for a complete toss where i have just not been able to focus on my eating habits, exercising, gymming, swimming and other elements of my personal life.

I have tried very hard in the last 2 months to study for the accounting exams but somewhere along the line i eventually could not motivate myself to do it anymore and i started to ask myself

"Do i seriously want to keep doing this for the rest of my life given that i am 32 years old now?"

"Do i really like this field, does it excite me?"

"Am i not better off doing something else i.e. using my energies wisely?"

"Am i really happy with the quality of life i am living?"

So in the last few days, i have now more or less decided that i no longer want to pursue accounting or the CPA designation anymore in Canada. The designation is not all what it is portrayed to be, it is not necessarily the high paying field that the Institute and Accounting Professors in University like to sell it to be, i have seen the lifestyle and the amount of money that partners in small firms make and the amount of stress they have to deal with and trust me, the risk to reward ratio is not always appealing.

Plus i also have to now come to terms with my own aptitude and limitations, i don't really want to live a life for the next 3-4 years where i am working late hours, coming home late and then having to worry about studying for exams and not doing things i enjoy like exercising, gymming, swimming or spending quality time with family, friends e.t.c.

So all these factors combined have now more or less led me to acknowledge that i made an error in deciding to opt for the accounting field as far as i am concerned and i am no longer going to be held hostage to the sunk cost problem where i am like "I have devoted so much time and effort to this field, designation, how can i give up now?", if i am not enjoying the field, if i don't like my lifestyle then i need to make a decision now and move on.

I became a Citizen of Canada last year so i am not bound to Canada as such anymore. I am now keeping all my options open but am more keenly looking at options outside Canada. But based on discussions with a few friends and other people i know i have the following options

1) To see if you can get any job in the US based on your Pakistani MBA and use the TN Visa to your advantage

2) To look into the possibility of doing an MBA from a decent ranked school in the US if you really want to improve your career prospects and earning potential in the US

3) To look into the Middle East where you can either utilize your Pakistani MBA or if you decide to pursue a US MBA, then utilize that and see if your Canadian Passport can help you as well

4) Whether my Canadian Passport which allows visa free travel to 150 countries in the world along with my MBA from IBA can help me secure a good high paying job in Pakistan?

5) I cleared my CFA Level 1 exam a few years ago, i can look into getting back to studying for this designation as it only deals with 1 exam a year which should be easier to manage with a job provided it is related to my job and field

6) Worse come to worse, look into business and entrepreneurship possibilities.

I am going to be meeting a few highly recognized Career Counselling Services where they do many in-depth tests, personality and temperament tests, interviews and then they discuss potential fields, career choices better suited to your personality.

Anyways, the purpose of this thread was to reach out with people and see if anyone has ever decided to change careers or get out of a field that they discovered that they weren't really enjoying? It will be great to hear from you guys and get some feedback on my situation and my options.

Regards]]> https://www.accountancy.com.pk/forum/thread-treatment-of-opening-balances-in-trial-balance Thu, 22 Dec 2016 06:01:45 +0000 imran1981]]> https://www.accountancy.com.pk/forum/thread-treatment-of-opening-balances-in-trial-balance
I am new to this forum. I have a question about treatment of opening balances.

I am creating a spreadsheet acctually. I have opening balances of some assets and liabilities accounts.
and with these balances I maintained a General Journal and wanted to prepare trial balance.Now because some of accounts have either debit or credit opening balances the transactions of which are not recorded into the new journal, the trial balance shows difference that is equal to the opening balances .How can I reconcile it.The opening balances are necessary to be included into the new balances. I am stuck with this problem. Please guide me.

Best Regards
Imran Bhatti]]>
I am new to this forum. I have a question about treatment of opening balances.

I am creating a spreadsheet acctually. I have opening balances of some assets and liabilities accounts.
and with these balances I maintained a General Journal and wanted to prepare trial balance.Now because some of accounts have either debit or credit opening balances the transactions of which are not recorded into the new journal, the trial balance shows difference that is equal to the opening balances .How can I reconcile it.The opening balances are necessary to be included into the new balances. I am stuck with this problem. Please guide me.

Best Regards
Imran Bhatti]]> https://www.accountancy.com.pk/forum/thread-seek-guidance-for-further-education-after-mba-finance Fri, 25 Mar 2016 18:36:33 +0000 ZaighamAli]]> https://www.accountancy.com.pk/forum/thread-seek-guidance-for-further-education-after-mba-finance
I have done MBA Finance recently and currently working in a private firm. I am looking to pursue an accountancy certification.

I have gathered some information on my own about CIMA,ICMAP, ACCA, CFA but I am confused which qualification to pursue now.

Your cooperation in this regard will be highly appreciated.

Best Regards,
Zaigham]]>
I have done MBA Finance recently and currently working in a private firm. I am looking to pursue an accountancy certification.

I have gathered some information on my own about CIMA,ICMAP, ACCA, CFA but I am confused which qualification to pursue now.

Your cooperation in this regard will be highly appreciated.

Best Regards,
Zaigham]]> https://www.accountancy.com.pk/forum/thread-qualification-options Sun, 10 Jan 2016 18:33:49 +0000 saba-rajput]]> https://www.accountancy.com.pk/forum/thread-qualification-options its been 6 years since I am done with studies. I wish to study ahead and restart my life. Please guide me what Accountancy qualifications I can pursue to restart my career. i want to refresh studies and study for 6 months then take on a job but not ACCA studies; ANOTHER QUALIFICATION. Most qualifications require me take on a job immediately to study ahead but cant do that at the moment...
HELP!!!!!!!!!!!!!!]]> its been 6 years since I am done with studies. I wish to study ahead and restart my life. Please guide me what Accountancy qualifications I can pursue to restart my career. i want to refresh studies and study for 6 months then take on a job but not ACCA studies; ANOTHER QUALIFICATION. Most qualifications require me take on a job immediately to study ahead but cant do that at the moment...
HELP!!!!!!!!!!!!!!]]> https://www.accountancy.com.pk/forum/thread-cpa-us-eligibility Mon, 19 Oct 2015 06:13:42 +0000 adeelkhan656]]> https://www.accountancy.com.pk/forum/thread-cpa-us-eligibility
please explain how to meet 150 credit hour rule eligibility requirement of CPA-US while in Pakistan? are ACCA exams fully meet that requirement?]]>
please explain how to meet 150 credit hour rule eligibility requirement of CPA-US while in Pakistan? are ACCA exams fully meet that requirement?]]> https://www.accountancy.com.pk/forum/thread-career-change--19801 Tue, 29 Sep 2015 20:32:44 +0000 jawadarif799]]> https://www.accountancy.com.pk/forum/thread-career-change--19801 https://www.accountancy.com.pk/forum/thread-ca-or-engeenring Sun, 28 Jun 2015 17:19:32 +0000 usamamahaar]]> https://www.accountancy.com.pk/forum/thread-ca-or-engeenring regards]]> regards]]> https://www.accountancy.com.pk/forum/thread-what-to-do-after-i-com Wed, 20 May 2015 07:02:25 +0000 Omega_Alpha]]> https://www.accountancy.com.pk/forum/thread-what-to-do-after-i-com My exams for I.com first year are starting 25th of may, Every elderly around me advises me to have a goal in life, So i've been thinking about what to do after i.com, First i was thinking of doing BBA but a friend of mine told me not to do it, He gave me the reasons that It's the age of computer and everything's running on technology nowadays, he advised me to do "B.com I.T"
So is there anything such as "BBA I.T"? If yes please differentiate both of these studies/profession (BBA I.T, B.COM I.T) :]]> My exams for I.com first year are starting 25th of may, Every elderly around me advises me to have a goal in life, So i've been thinking about what to do after i.com, First i was thinking of doing BBA but a friend of mine told me not to do it, He gave me the reasons that It's the age of computer and everything's running on technology nowadays, he advised me to do "B.com I.T"
So is there anything such as "BBA I.T"? If yes please differentiate both of these studies/profession (BBA I.T, B.COM I.T) :]]> https://www.accountancy.com.pk/forum/thread-need-study-buddy Thu, 26 Mar 2015 16:23:12 +0000 sam1423]]> https://www.accountancy.com.pk/forum/thread-need-study-buddy
I need occasional guidance from someone preferably girl in F3. I need someone who can promptly answer and i don't have to wait for a whole day. I am willing to pay fees also.

Thanks]]>
I need occasional guidance from someone preferably girl in F3. I need someone who can promptly answer and i don't have to wait for a whole day. I am willing to pay fees also.

Thanks]]> https://www.accountancy.com.pk/forum/thread-logic-cma-usa-online-in-dubai Tue, 10 Feb 2015 09:59:14 +0000 logiconline]]> https://www.accountancy.com.pk/forum/thread-logic-cma-usa-online-in-dubai
Examination Conducted by
Institute of Certified Management Accountants- U.S.

Certification Issued by
Institute of Management Accountants- U.S.

International Recognition
• Generally recognized in the employment market in UAE
• Mutual recognition benefit available with ACMA of India
• Recognized by ACCA Advanced entry level

Eligibility
Bachelor or Graduate degree in any discipline

Examination Center
• Prometric centers in UAE
• Amideast, Knowledge Village, Dubai
• CERT Technology Park, Abu Dhabi
Examination Windows Window 1 Window 2 Window 3
Examination months Jan & Feb May & Jun Sep & Oct
Last date for exam registration 15th Feb 15th Jun 15th Oct

Examination can be taken on any working day in these periods

Exam Format
Subjects Exam Hours MCQ Essay
Financial Reporting, Planning, Performance & Control 4 100 2
Financial Decision Making 4 100 2
All subject contents in P1 & P2 will be tested up to level "C" (Advanced)
Essay questions will be 30 min. each

Minimum Passing Mark
70% on scaled score basis.
Credit for the passed subject will be carried over for 3 years from registration.

Practical Experience
2 years relevant practical experience
IMA Fees Amount
International Membership Fee $220
Entrance Fee $240
Registration Fee $15
Exam Fee per Subject $395

* Entrance Fees will be collected again, if students do not give any exam within one year from the registration or do not complete the program in 3 years

Logic School of International Studies committed to provide more details ,logiconline.org]]>
Examination Conducted by
Institute of Certified Management Accountants- U.S.

Certification Issued by
Institute of Management Accountants- U.S.

International Recognition
• Generally recognized in the employment market in UAE
• Mutual recognition benefit available with ACMA of India
• Recognized by ACCA Advanced entry level

Eligibility
Bachelor or Graduate degree in any discipline

Examination Center
• Prometric centers in UAE
• Amideast, Knowledge Village, Dubai
• CERT Technology Park, Abu Dhabi
Examination Windows Window 1 Window 2 Window 3
Examination months Jan & Feb May & Jun Sep & Oct
Last date for exam registration 15th Feb 15th Jun 15th Oct

Examination can be taken on any working day in these periods

Exam Format
Subjects Exam Hours MCQ Essay
Financial Reporting, Planning, Performance & Control 4 100 2
Financial Decision Making 4 100 2
All subject contents in P1 & P2 will be tested up to level "C" (Advanced)
Essay questions will be 30 min. each

Minimum Passing Mark
70% on scaled score basis.
Credit for the passed subject will be carried over for 3 years from registration.

Practical Experience
2 years relevant practical experience
IMA Fees Amount
International Membership Fee $220
Entrance Fee $240
Registration Fee $15
Exam Fee per Subject $395

* Entrance Fees will be collected again, if students do not give any exam within one year from the registration or do not complete the program in 3 years

Logic School of International Studies committed to provide more details ,logiconline.org]]> https://www.accountancy.com.pk/forum/thread-need-some-help Wed, 04 Feb 2015 09:22:23 +0000 talhamuhammadkhan]]> https://www.accountancy.com.pk/forum/thread-need-some-help Cleared 4 papers in two years and now i can't make decision whether to leave it out continue it and if leave it then what to choose next.
I am currently 20 years old and my target is to get a job before i am 25.
I am interested in the field of finance and management.

It would be really appreciated if anyone will help me out of this situation.

Kind regards.]]> Cleared 4 papers in two years and now i can't make decision whether to leave it out continue it and if leave it then what to choose next.
I am currently 20 years old and my target is to get a job before i am 25.
I am interested in the field of finance and management.

It would be really appreciated if anyone will help me out of this situation.

Kind regards.]]> https://www.accountancy.com.pk/forum/thread-bfd-and-ma-books Mon, 15 Dec 2014 13:43:18 +0000 omerpk]]> https://www.accountancy.com.pk/forum/thread-bfd-and-ma-books
- ACCA F9 and P4 texts (BPP)
- Kasbati's 100 Q&A
- Chart Foulks 100 Q&A (Fin. Mgt.)

The same for MA course coverage:

- PBP Text
- Colin Drury
- Chart Foulks 100 Q&A (Mgt. Acct.)]]>
- ACCA F9 and P4 texts (BPP)
- Kasbati's 100 Q&A
- Chart Foulks 100 Q&A (Fin. Mgt.)

The same for MA course coverage:

- PBP Text
- Colin Drury
- Chart Foulks 100 Q&A (Mgt. Acct.)]]> https://www.accountancy.com.pk/forum/thread-any-one-preparing-for-cia-exams-in-lahore Wed, 22 Oct 2014 06:48:13 +0000 shahkam]]> https://www.accountancy.com.pk/forum/thread-any-one-preparing-for-cia-exams-in-lahore
You can contact me at ali.jibran@msn.com or 03008430503

Regards
alib]]>
You can contact me at ali.jibran@msn.com or 03008430503

Regards
alib]]> https://www.accountancy.com.pk/forum/thread-exemption-in-acca-after-cma Sun, 14 Sep 2014 21:01:10 +0000 zeeshan ahmad]]> https://www.accountancy.com.pk/forum/thread-exemption-in-acca-after-cma