Resolving rumours and myths about ACCA in Pak

shani420 · 03-10-2010, 12:34 AM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Atifboss
 Yar....is purani laraii ko choro.... i am making a new statement.... MBA's are managers and they all ACCA , ICMA,CMA they are nothing but just accountants and consultants... so think bigger.... be an MBA
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brother ICMA is an institute not a qualification.And Higher Education Commission(HEC) CA and ACMA equal to a 16 years MCOM degree.Most managerial jobs(not all) require MBA/MCOM or equivalent and ACMA/CA is that equivalent.
Aur agar kisi ko BBA/MBA ka shok ho to he can get a BBA/MBA degree from University of Central punjab while doing his ACMA/CA/ACCA/PIPFA after passing few papers.

Schuaeb · 03-10-2010, 08:07 AM

I don't know why people are wasting time by repeating the same things times and again. Things may sound better on paper but realities very often teach an altogether different lesson. Someone here is claiming the acceptability of ACCA in UK, EU and Middle East. As we are from Pakistan we should only be concerned about the prospects Pakistani professionals. In UK and EU there was no or only little place for Pakistani ACCAs even before the recession, and now a days anyone can imagine. The place left for our ACCAs in this situation is only Gulf (not that much affected by the global recession). The worth of ACCAs who have practical training from Big 4 is no doubt there however that primarily is for the practical exposure they had, and ACCAs without adequate practical exposure barely fall in the salary range as I mentioned in my last post. Someone rightly mentioned that job advertisement of accounts professional in Gulf specifically mentions Pakistani or Indians, this is for the reason that no one from the developed world will be satisfied by the salary package offered.

Someone on this forum mentioned that you walk down the road and more than half of students you meet are doing ACCA. Isn't it an eyeopener, when ACCA affiliates and members will be present in market with such abundance what will be the success prospects then. About markets other than Gulf our nationality comes first than our qualification so they will never prove to be good job markets for our ACCAs. As far as Gulf market is concerned how many of us it can absorb, and their are a whole lot of Indians already there. I'm not very very hopeful about the prospects of our dear ACCAs. I further believe as I have mentioned over a number of places at this forum that their large quantity has also made life tougher for part qualified CAs.

I'm never trying to prove that ACCA is a useless qualification, instead what I mean is that considering ACCA as a final qualification will be similar to fooling oneself. ACCA can prove to a better route for starting ICAP CA, as it is in my opinion is easier than CA Inter. The main negative point about this route may be that ACCAs may face a bit difficulty in passing ICAP final stages as compared to CA Inters, however, hardwork can be a solution here.

shani420 · 03-10-2010, 12:39 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Schuaeb
 I don't know why people are wasting time by repeating the same things times and again. Things may sound better on paper but realities very often teach an altogether different lesson. Someone here is claiming the acceptability of ACCA in UK, EU and Middle East. As we are from Pakistan we should only be concerned about the prospects Pakistani professionals. In UK and EU there was no or only little place for Pakistani ACCAs even before the recession, and now a days anyone can imagine. The place left for our ACCAs in this situation is only Gulf (not that much affected by the global recession). The worth of ACCAs who have practical training from Big 4 is no doubt there however that primarily is for the practical exposure they had, and ACCAs without adequate practical exposure barely fall in the salary range as I mentioned in my last post. Someone rightly mentioned that job advertisement of accounts professional in Gulf specifically mentions Pakistani or Indians, this is for the reason that no one from the developed world will be satisfied by the salary package offered.

Someone on this forum mentioned that you walk down the road and more than half of students you meet are doing ACCA. Isn't it an eyeopener, when ACCA affiliates and members will be present in market with such abundance what will be the success prospects then. About markets other than Gulf our nationality comes first than our qualification so they will never prove to be good job markets for our ACCAs. As far as Gulf market is concerned how many of us it can absorb, and their are a whole lot of Indians already there. I'm not very very hopeful about the prospects of our dear ACCAs. I further believe as I have mentioned over a number of places at this forum that their large quantity has also made life tougher for part qualified CAs.

I'm never trying to prove that ACCA is a useless qualification, instead what I mean is that considering ACCA as a final qualification will be similar to fooling oneself. ACCA can prove to a better route for starting ICAP CA, as it is in my opinion is easier than CA Inter. The main negative point about this route may be that ACCAs may face a bit difficulty in passing ICAP final stages as compared to CA Inters, however, hardwork can be a solution here.

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Brother agar kisi k easy route use hi kerna hai to get ICAP membership after ACCA , then he should opt for ICAEW.Just pass final 3 ICAEW papers(and experience as well) and get ICAP membership without passing a single ICAP paper(Tax and Law papers r required only when u need public practice rights).Is tarah ACCAs final ICAP papers ki SO-CALLED difficulty say bach jaen gay.

ausmanpk2001 · 03-10-2010, 02:19 PM

The little glitch here is that you need to get a training contract in order to qualify as an ICAEW member.

shani420 · 03-10-2010, 03:29 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by ausmanpk2001
 The little glitch here is that you need to get a training contract in order to qualify as an ICAEW member.
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kya ICAP k final papers denay k lye contract nahin chaye?ab yeh to hone say raha k kisi big4 ka koi partner a k tarley kare k ji aap nay ACCA ker lia hai,aye CA(EW) start karain!Everyone can try his luck.
BTW one can pass final 2 ICAEW papers without a contract.Contract is necessary for attempting the Case study only.

ausmanpk2001 · 03-10-2010, 06:51 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by shani420
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by ausmanpk2001
 The little glitch here is that you need to get a training contract in order to qualify as an ICAEW member.
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kya ICAP k final papers denay k lye contract nahin chaye?ab yeh to hone say raha k kisi big4 ka koi partner a k tarley kare k ji aap nay ACCA ker lia hai,aye CA(EW) start karain!Everyone can try his luck.
BTW one can pass final 2 ICAEW papers without a contract.Contract is necessary for attempting the Case study only.
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There's a lot of difference between ICAP contract & an ICAEW one. Firstly very few firms in Pakistan are registered for ICAEW authorised trainees. One can count them on fingertips.
Secondly, there are other requirements which come with an ICAEW contract namely high stipend (not sure, I think its Rs. 12,000 pm)
Getting an ICAEW contract is not easy & comparing it with getting an ICAP contract is hilarious.

adilmushtaq · 03-10-2010, 07:02 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Atifboss
 Yar....is purani laraii ko choro.... i am making a new statement.... MBA's are managers and they all ACCA , ICMA,CMA they are nothing but just accountants and consultants... so think bigger.... be an MBA
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@lolz
I couldn't stop laughing after reading your post. Previously you used to cry & weep on accountancy forum that you're a failed accountancy student who opted MBA. You used to post here on accountancy forum that you long to get back into your "original" field.

Now when all your hopes seems to be over about qualifying a professional accountancy qualification, you are saying that MBA is the bestest of best. You seem to be a person with INSECURITIES & SUPERIORITY/INFERIORITY complex

You remind us of the proverb "Angoor khatay hen"

Sorry meant no offences!!

shani420 · 03-10-2010, 10:02 PM

Usman,
there is forum member "uzairch".He has done ACMA(CIMA) and now doing CA(EW) while contracted in Ernst & young Lahore.They pay the same stipend (Rs 6500) to him as they pay to the ICAP trainees.
As far as "hilarious" is , brother don't get intimidated by ICAEW.Woh bhi insan hi kertay hain koi farishtay nahin!

kamranACA · 03-10-2010, 11:07 PM

Dears

Certainly getting ICAEW contract is and will be much tougher than to get ICAP's training contract. I believe Usman's view is very focussed and clear on this issue.

However, I also expect that more firms will be getting training authorization from ICAEW in coming days and resultantly more firms will be intaking the students. Yet, it is more than obvious that it will always remain a hard target comparatively.

In contrast, passing ICAEW will perhaps easier for ACCA students since it has lesser papers to qualify.

So there is a trade off.

Regards,

Dard · 03-11-2010, 03:36 AM

I don't know why some PpL don't get the purpose of this topic. It was about misconceptions about ACCA's CURRICULUM, not market acceptability in Pakistan
The point of ACCA's market in the countries aforementioned was raised in RESPONSE to someone
Saying more than HALF of the students you meet are ACCA AFFILIATE is totally totally self-made. There are high number of students entering ACCA, but at sometime or the other some of them leave. In saying that the market is saturated by ACCA MEMBERS(as said by some), one is proving to be unknowledgeable. In Pakistan ACCA students/affiliates qualifying each year is way low. One can check the figures, to be satisfied
The PpL i have come across say that ACCA affiliates pass C.A finals comparatively EASILY than C.A inters. Some might have witnessed different cases

kamranACA · 03-11-2010, 05:44 AM

Tonight, at a dinner, one of our senior friends who owns a renowned college at Karachi, told that approximately 27,000 ACCA students are registered from Pakistan (currently).

I believe it is not an insignificant figure and the ultimate produce would also be in line with this figure.

It suggests that Shoaib's analysis is not incorrect.

Can some one confirm this figure of 27,000 (approx)?

Regards,

Kamran.

Schuaeb · 03-11-2010, 11:14 AM

I will be happier if my analysis is incorrect. There is a trend of "BHAIR CHAL" in our culture. While in school we used to hear that how market got saturated with B.Coms, then MBAs, there was a time when people started pursuing IT careers without bothering bout the quality of education. And now its ACCA, they induct everyone as the students are the bread and butter for a country that primarily relies on education as a source of revenue and it may be considered easier than other professional qualifications around. Last but not the least, the new entrants fantasize it as something having good acceptability all over the globe (against the facts as I mentioned in my last post). What can a sane person conclude from the situation; obviously if things remain like this sooner or later the quantity of ACCA members in the market will be significantly more than what is required, and I'm afraid this situation will not be good for part qualified CAs as well.

Schuaeb · 03-11-2010, 11:16 AM

@dard, I really don't want to continue this discussion as it won't bring any result. There are obviously many things worth mentioning about ACCA as many from your side argued.

Another things that lends signficant doubts to the credibility and objectivity of arguments made here is that people have only supported their particular institute so the arguments may or may not be true, this point goes in your favour if you understand. It is said that "opinions are ultimately determined by emotions and not intellect. I surely am a well wisher of all our students irrespective of what discipline they represent.

Schuaeb · 03-11-2010, 11:22 AM

Currently their are quite a number of firms that are authorized by ICAEW, and hopefully more firms will come in the category. Provided these are the circumstances I can't apprehend that how getting ICAEW training contract is a difficult task (taking from Pakistan's perspective as I'm not very much aware of the criteria of the institute). This is something else that getting an ICAP training contract now a days is not very easy for new students.

The comment that comparison of training contract is hilarious sounds quite hilarious. The formalities of ICAEW I am not very much aware of, however, the firms in Pakistan providing such training really are not that few in number. And may be the formalities for Pakistani students pursuing ICAEW training may be a bit comprehensive and not that easy to comply with obviously due to some known reasons. Rs. 12,000 I don't know on what grounds Usman mentioned at least the reality I know here is bit different, among the two examples I know one is getting equal stipend as paid to CA inter and other a slightly less, and he told me that their is no stipulation for stipend in the training provisions.

@Shani! I didn't exactly get the route you mentioned. ICAP membership with ACCA as an entrance route and then ICAEW. But for ICAP membership after ACCA you have to pass complete final modules plus three years of training. Or you meant ACCA then ICAEW and on the basis of ICAEW exemptions in ICAP, however, even then according to my knowledge all of ICAP papers cannot be exempted. Your explanation will be appreciated.

Dard · 03-11-2010, 01:24 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Schuaeb
 @dard, I really don't want to continue this discussion as it won't bring any result. There are obviously many things worth mentioning about ACCA as many from your side argued.

Another things that lends signficant doubts to the credibility and objectivity of arguments made here is that people have only supported their particular institute so the arguments may or may not be true, this point goes in your favour if you understand. It is said that "opinions are ultimately determined by emotions and not intellect. I surely am a well wisher of all our students irrespective of what discipline they represent.
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I would be more than happy to see those "worth mentioning" things
Kamran Bhai i will let you know if the figures are correct. I believe it will be close to or more than that figure. How many students(trainees and non-trainees) are registered with ICAP?