02-04-2009, 05:52 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by kamranACA</i>
<br />Dear Aftab,
When we talk about specialization, it is different, although both qualifications are related to accountancy and finance.
Somehow ACMAs have been regarded best for the public sector jobs that was not the essense of this qualification. You pick up directory of your members and look at the senior members, most of them would be seen at good positions in public sector.
The areas where ACMAs have to work and provide innovative solutions and remedies is totally unaddressed by them in Pakistan. One cannot say that Pakistani industry does not have such opprtunities or needs. I have been dealing with manufacturing clients for quite some time and I know industry needs specialists people on such fronts who can make the owners understand what is the utility of better costing techniques, standardization, budgetary controls, cost accumulation innovations and management reporting techniques are vital for them. Why specialized people of such field are necessary and how can this all add value to the business.
I am sorry to say but I don't see ACMAs making any such efforts on the areas which need their special attention. Rather we see part qualified people on such jobs. Instead of addressing what is needed ACMA friends are always talking about audits, which may not be wrong, but is not the focal area.
If some one is hurt due to this observation I tender my regrets in advance. There is no war with ACMAs (and even with any other designations). There is no need to do so. I don't know why kids take the things wrongly.
Regards,
KAMRAN.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
It is right that the most of old ACMA's were servicing public sector but it is not true for the ACMA's of today. The basic reason of servicing majority of ACMA to public sector was that there were only few industries in the Pakistan. Mr Kamran you say that the basic work of ACMAs in industrial sector and ACMAs donât doing for formulating cost strategies for industries and are much interested in the Audit.
Are the CAâs working their work correctly? Why the ICAP donât prepare Accounting Standards for country, to eliminate ambiguities while making accounts, as ICAI have done in INDIA. Almost all big countries have prepared their national accounting standards. Does it also a work of ICMA to prepare national accounting standards??????
But it is a matter of pride for ACMA sthat ICMAP has prepared manual of cost audit beside the manuals of audit for specific industries (textile, cement, and ghee/oil).
Dear can you tell me the books of Accounts, Corporate Law, Tax written by the CAâs. Even the books of tax and corporate laws written by ACMA/FCMA are being taught in various campuses of ICAP
Dear we cannot draw a BLOOD LINE between ACMA's and CA's there are some CA's working as Accounts Manager in many factories. Please contact ICAP and find the directory of your members you will find that many CA's are working in industries. I personally know some CA's working in industries. Similarly a number of ACMA's are working as Internal Auditors, even in many multinational companies. Many ACMA's are also working as auditor with the audit firms
In fact the CA and ACMA are two interrelated fields and both professions can work interchangingly. But the problems arise when CA's degrade ACMA's and undermine them.
In fact after the promulgation of Companies Ordinance 1984, the due importance was given to ACMAs . Before it, under companies Act the behavior of corporate regulating bodies of the country like step mother with ACMAâs. Sections 252 and 254 of Companies Ordinance give the right to ACMAâs to perform Cost Audit and Financial Audit (Private Companies having capital less than Rs 3 millions ). So it is evident that ACMA can perform Audit. Before the promulgation of Companies Ordinance, 1984 the CA had a monopoly. But in eighties the ACMAâs awoke and challenged their monopoly this time they were backed by the Ordinance. The CAâs who were monopolist s and unchallenged in Pakistan cried on this situation and created a battle field for ACMAâs. It is a reality that both ACMAâs and CAâs have similar qualities and skills and they can perform all works related to any field of accounting, audit, tax, corporate law and finance.
Mr Kamran tell me being a CA without any hate does it may not be possible that the volume of business of a Private Ltd Company having share capital less than Rs .3 million cannot be more than a listed public company.
My dear I have said that the attitude of CAâs compelled me to write the above topic.
Please tell me if a finance executive, who is CA, does not appoint an ACMA, even he got highest marks in written test and show very outstanding performance in the interview, only on the basis of hate for ACMAâs. Yes dear I have experienced the above attitude of my senior colleague while appointing a n Assistant Accounts Manager for my company. The said candidate was also very needy. Why was his crime? Why was he slaughtered on the name of profession hate?
Let us all adopt a professional attitude and work for the economic, industrial and agricultural development of Pakistan
Thanks & Regards.
Awais Aftab
<br />Dear Aftab,
When we talk about specialization, it is different, although both qualifications are related to accountancy and finance.
Somehow ACMAs have been regarded best for the public sector jobs that was not the essense of this qualification. You pick up directory of your members and look at the senior members, most of them would be seen at good positions in public sector.
The areas where ACMAs have to work and provide innovative solutions and remedies is totally unaddressed by them in Pakistan. One cannot say that Pakistani industry does not have such opprtunities or needs. I have been dealing with manufacturing clients for quite some time and I know industry needs specialists people on such fronts who can make the owners understand what is the utility of better costing techniques, standardization, budgetary controls, cost accumulation innovations and management reporting techniques are vital for them. Why specialized people of such field are necessary and how can this all add value to the business.
I am sorry to say but I don't see ACMAs making any such efforts on the areas which need their special attention. Rather we see part qualified people on such jobs. Instead of addressing what is needed ACMA friends are always talking about audits, which may not be wrong, but is not the focal area.
If some one is hurt due to this observation I tender my regrets in advance. There is no war with ACMAs (and even with any other designations). There is no need to do so. I don't know why kids take the things wrongly.
Regards,
KAMRAN.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
It is right that the most of old ACMA's were servicing public sector but it is not true for the ACMA's of today. The basic reason of servicing majority of ACMA to public sector was that there were only few industries in the Pakistan. Mr Kamran you say that the basic work of ACMAs in industrial sector and ACMAs donât doing for formulating cost strategies for industries and are much interested in the Audit.
Are the CAâs working their work correctly? Why the ICAP donât prepare Accounting Standards for country, to eliminate ambiguities while making accounts, as ICAI have done in INDIA. Almost all big countries have prepared their national accounting standards. Does it also a work of ICMA to prepare national accounting standards??????
But it is a matter of pride for ACMA sthat ICMAP has prepared manual of cost audit beside the manuals of audit for specific industries (textile, cement, and ghee/oil).
Dear can you tell me the books of Accounts, Corporate Law, Tax written by the CAâs. Even the books of tax and corporate laws written by ACMA/FCMA are being taught in various campuses of ICAP
Dear we cannot draw a BLOOD LINE between ACMA's and CA's there are some CA's working as Accounts Manager in many factories. Please contact ICAP and find the directory of your members you will find that many CA's are working in industries. I personally know some CA's working in industries. Similarly a number of ACMA's are working as Internal Auditors, even in many multinational companies. Many ACMA's are also working as auditor with the audit firms
In fact the CA and ACMA are two interrelated fields and both professions can work interchangingly. But the problems arise when CA's degrade ACMA's and undermine them.
In fact after the promulgation of Companies Ordinance 1984, the due importance was given to ACMAs . Before it, under companies Act the behavior of corporate regulating bodies of the country like step mother with ACMAâs. Sections 252 and 254 of Companies Ordinance give the right to ACMAâs to perform Cost Audit and Financial Audit (Private Companies having capital less than Rs 3 millions ). So it is evident that ACMA can perform Audit. Before the promulgation of Companies Ordinance, 1984 the CA had a monopoly. But in eighties the ACMAâs awoke and challenged their monopoly this time they were backed by the Ordinance. The CAâs who were monopolist s and unchallenged in Pakistan cried on this situation and created a battle field for ACMAâs. It is a reality that both ACMAâs and CAâs have similar qualities and skills and they can perform all works related to any field of accounting, audit, tax, corporate law and finance.
Mr Kamran tell me being a CA without any hate does it may not be possible that the volume of business of a Private Ltd Company having share capital less than Rs .3 million cannot be more than a listed public company.
My dear I have said that the attitude of CAâs compelled me to write the above topic.
Please tell me if a finance executive, who is CA, does not appoint an ACMA, even he got highest marks in written test and show very outstanding performance in the interview, only on the basis of hate for ACMAâs. Yes dear I have experienced the above attitude of my senior colleague while appointing a n Assistant Accounts Manager for my company. The said candidate was also very needy. Why was his crime? Why was he slaughtered on the name of profession hate?
Let us all adopt a professional attitude and work for the economic, industrial and agricultural development of Pakistan
Thanks & Regards.
Awais Aftab
