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Info about CFA

 
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Info about CFA
kamranACA
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#16
04-18-2007, 11:07 PM
Dear Mahmood Sahib,

Off course your reservation for a practicing CA to get into CFA has good weightage as far as its impact on his profession is concerned.

Mahmood Sahib, in my view, a human being should try different things in his career. For me it is not compuslory to get attached with CA profession for the life time. Everybody thinks his own way. I came into practice with my firm in the age of 28. I know it is prestigious. Still, I want to do different things in my life. I may be getting into my own business while attaining the age of 40 plus. Achievements are made to leave those achievements behind. One should not always stick up with his one acheivement. Otherwise, he will never find a way forward to next steps. I know this can be done even if we dont leave our profession i.e. CA firm becoz every day new business avenues are found and new challenges surround us. I am very much in its understanding. Still, if some practising CA decides to setup his industry, it should be very much encouraging. If some one wants to engage in some other prestigious profession, again it would add to his value over the time while he will lose nothing from his previous achievements and those will always remain on his credit.

There are five advocates and one bar at law in my family, and when I study the proceedings of their cases sometimes and when I visualize their political pressure on the administrators, I really want to step into law practice. I sometime in past wished to be a Bar at Law but could not opt it due to certain family reasons. This will remain a dream unfolded.

I personally dont feel that I would always be engaged in public practice in the capacity of CA. At least as a main objective or sole employment. I have different plans and ultimately I foresee myself in business. Never mind if it comes after 15 years from now-onwards. Life is in Allah's hands off course and this all depends upon the number of breaths God has written in my fate.

I plan to do CFA becoz I feel it has a great potential in foreign countries and even in Pakistan, specially if at any stage in future, I would like to move to GULF or Europe or if I would get some chance to be engaged in capital market business concerns like AKD or Jahangir Siddique etc. Although these all are dreams and plans but I dont forget that what was fiction one day is a reality today. I am sitting on the seat of my office which some years back interviewed me for articleship and at that time I was not able to find myself capable of getting this seat. My hands were trembling at that moment, I still remember; and I always offer my heartiest thanks to ALLAH for his blessings.

I think basics of different professional studies are somewhat comparable. So, it would not really be a hard task to get through from CFA. In my views just thinking on what would be benficial at the moment is not a wise thing. We have to save so much for the days coming ahead. And getting diversified knowledge and qualifications is the best to save and procure.

Yes, getting same qualification from different institutes has somewhat lesser importance just for example doing CA from Canadian Institute of Chartered Accountants after doing CA from ICAP, unless it is required in given circumstances. However, still extra qualification and efforts should be encouraged even if these are on same areas of knowledge.

Hope you will have a look on my inside. Please convey your advices on this issue particularly keeping in view my plans shared with you.

I place on record that this post is solely intended for Mr. Mahmood. Therefore, I dont invite specific discussions by other members.

Best regards,

Kamran.
wonk.xags
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#17
11-10-2007, 02:45 AM
Dear Senior Members!
I need your advice. I am doing (4 years) BS Business Administration (Finance) and I have quite few good Finance subjects. I have somehow better understanding in fiance because I like this field. I am in deep trouble in deciding wether I should start ACCA or CFA. I`ll get 3 papers exempt in ACCA. Can anybody tell me how many exemptions are available in CFA after ACCA? Moreover, I am also working in a chartered accountancy firm from 4 months and learning opportunities are immense. Helping you little more, I am planning to start my job in Middle East in future. So I need qualifications and basic work experience. Please advice me ACCA or CFA?
Muhammad Amir
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#18
11-11-2007, 03:48 AM
ACCA and CFA they both are very different fields and first of all you have to select your target, i mean if it is for investment sector then their is no better choice other than CFA, CFA is basically specialization in investment sector, As you told that you are alreay BS(Business Administration-Finance) i think ACCA will be a wastage of time for you, why don't you think about LIFA its very cheap in cost as compared to CFA and it may give you exemptions from Strage 1 and 2 and you only need to attempt stage3 "4.5 hrs" assessment...

CFA is first of all having no exemptions, secondly its cost which is much much higher than LIFA, another advantage of LIFA is that It has no pre set benchmark of passing slab i mean there is no 75%, but in CFA you should have to Obtain atleast 75%...

I would suggest you to first complete your LIFA then you can switch your career in CFA on the basis of LIFA...

Regards,

Muhammad Amir.
wonk.xags
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#19
11-12-2007, 04:10 AM
Thank you dear Mr. Muhammd Amir.
I will try to follow your advice. But, the problem is the scope of LIFA in Pakistan. I also want to earn money after so much hard work in the studies and time. I`ll be thankful if you describe the scope of LIFA in Pakistan.
Muhammad Amir
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#20
11-12-2007, 04:33 AM
Dear "WONG.XAGS" If you are talking in earning perspective then i must say that as per Earnings perspective LIFA has not that recognition as CFA has, beside earnings LIFA has very very favourable options for you as i have already told you that the cost of LIFA is only $256 per exam session you can sit its exams in more than 150 days a year, you will be awarded exemptions from Stage 1 and Stage 2 of it only you need to attempt stage 3's four hour assessment, then it has not pre set benchmark but CFA has which is 75%...

If you appraise LIFA and CFA both in the triangle of TIME, COST & QUALITY then TIME and COST they both are favourable for LIFA whereas QUALITY is favourable for CFA...

One more favour which LIFA will do for you is that it helps you on further building you career like it helps you in CFA...

I would suggest you to contact with LIFA, tell them about your qualification(Degree/University etc) if they told you that you will be applicable for Waiver program and you can directly switch to Stage 3 then LIFA will be more practicable option than of CFA...

Rest is on you, take suggestions from other people too they might give you better advice...

Can you please tell me about your subjects(of BS-Finance) in details...

Regards,

Muhammad Amir
wonk.xags
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#21
11-12-2007, 04:45 AM
Dear Muhammad Amir
Thank you very much for the detailed information. I have already e-mailed LIFA bodies to know wether my qualifications meet for exemptions or not.

For detail of courses, kindly visit the following link

http//www.vu.edu.pk/pages/bsba.aspx

<b>AREA OF SPECIALIZATIONFINANCE</b>

1. Auditing
2. Taxation Management
3. Financial Statement Analysis
4. Corporate Finance
5. Investment Analysis and Portfolio Management

I am very thankful to you for the advice. According to your above-mentioned trianlge, LIFA suits me the most to start my career in finance qualifications, and later develop it through CFA in coming years.

Best Regards
Hammad H. Shahir
Muhammad Amir
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#22
11-12-2007, 05:00 AM
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><b>http//www.vu.edu.pk/pages/bsba.aspx
</b><hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

course structure looks very comprehensive...
wonk.xags
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#23
11-12-2007, 05:06 AM
<b><font face="Verdana">Thanks. I am in 7th semester. Now I only need to study next year FINANCE subjects.</b></font id="Verdana"><blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Muhammad Amir</i>
<br /><blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><b>http//www.vu.edu.pk/pages/bsba.aspx
</b><hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">

course structure looks very comprehensive...
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
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