CA -|- Chartered Accountants Thread

[Ahmed Zamir]

Anyone here in CA Module A?

 

[EmSpecial]

big day tomorrow plz pray "allah mjhy paper main pass karwa dy ameen summa ameen !!!"

allah to pass kewayega lekin jab tum parh ke jaogay . lol

 

[Pakiyoungster]

well as i see , guys were punctually replying in this thread,,,,,,,,,,,,,,,,,,,,,,,
ab kia hua guyssssssssssssss????????????????

share your results as well

15th ko result tha,,
kon kon urra??????????

 

[qazishehryar]

What can you guys tell me about CPA "Certified Public Accountant" from ICPAP "Institute of Certified Public Accountants of Pakistan" (i am inclining towards it)???? whats the scope????..... i am currently working as a Finance Executive and want to do specialization in Accounting and Finance.... i have practical working knowledge and experience but i lack degree.... there are handful of people in Pakistan who have CPA degree... basically its an American Degree which is equivalent to ACCA/CA (all the top auditors in America has CPA degree)....
About CPA ... so what do you guys suggest????... it is also an extensive degree like CA and has 6 module and 18 papers and one can do it in about 3-4 years..... or should i go for MBA specialization in Finance....

Also if i do CPA from ICPAP body, i will be entitled to become member of international accounting bodies like shown in this link http://www.icpap.com.pk/index.php?option=com_content&view=article&id=48&Itemid=92 ... i can become member of Certified Public Accountants of UK etc.....

 

[Cerberus]

[MENTION=20461]Pakiyoungster[/MENTION]
bhai ne dia tha koi pass ni

 

[Pakiyoungster]

@Pakiyoungster
bhai ne dia tha koi pass ni

me too
its time to move towards ACCA,,
just gonna claim paper to paper exemption and going to start on 25th of this month

 

[Cerberus]

me too
its time to move towards ACCA,,
just gonna claim paper to paper exemption and going to start on 25th of this month

A. clear hai b ka m.law rhta hai. 2 chance reh gye hain bs saley pas hi ni kr re. recheck k liye apply kia hai lets see. kya bnta hai

 

[Pakiyoungster]

A. clear hai b ka m.law rhta hai. 2 chance reh gye hain bs saley pas hi ni kr re. recheck k liye apply kia hai lets see. kya bnta hai

are u kidding???????? rechecking in icap?????? u cant even apply bro.
and mlaw to mera first attempt mein nikal gaya tha,

listen tell him , to prepare for mlaw by making his own short notes,

these are the important areas of law, tell him to make complete grip on these areas.

1)contract act
2)sales act
3)partnership act
and negotiable instruments,,

i am telling u again ,
advice ur brother to make his own hand notes,
he must use MC KUCHEL only for understanding the concepts.

 

[Hassan Aftab]

No specific websites but im sure you'll find some on torrents

I was just reviewing my options AFTER ACCA and also came across an old thread where this was discussed.

Wanted your take on this, and of other people who might be able to help.

I had originally thought of doing CIMA AND a training contract in ICAEW in some firm or MBA Finance AFTER completing my ACCA.

However, now that I discussed this with my F3 Financial Accounting tutor, he suggests pursuing CIA right after the ACCA and then when I have the time and resources, go for CFA.

Diversify, he says. Instead of only thinking of finding easy ways via exemptions in fields like CIMA and ICAEW to add a rosy image of too many qualifications in my CV because ACCA is very much a similar field.

He is of the view that CIA and CFA constitute much more knowledge and the variants actually train a person a lot better in capacities other than just accountancy (unlike ICAEW and CIMA).

Now I don't know much about CIA, but I do acknowledge that CFA is hard as hell and overly expensive at times PLUS it takes ATLEAST 3 years but of course, determination shows the way as always.

Would like your take on this, please.

 

[alamode]

I was just reviewing my options AFTER ACCA and also came across an old thread where this was discussed.

Wanted your take on this, and of other people who might be able to help.

I had originally thought of doing CIMA AND a training contract in ICAEW in some firm or MBA Finance AFTER completing my ACCA.

However, now that I discussed this with my F3 Financial Accounting tutor, he suggests pursuing CIA right after the ACCA and then when I have the time and resources, go for CFA.

Diversify, he says. Instead of only thinking of finding easy ways via exemptions in fields like CIMA and ICAEW to add a rosy image of too many qualifications in my CV because ACCA is very much a similar field.

He is of the view that CIA and CFA constitute much more knowledge and the variants actually train a person a lot better in capacities other than just accountancy (unlike ICAEW and CIMA).

Now I don't know much about CIA, but I do acknowledge that CFA is hard as hell and overly expensive at times PLUS it takes ATLEAST 3 years but of course, determination shows the way as always.

Would like your take on this, please.

He's spot on. Diversify.. There's really no advantage in doing ACCA and CA from Icap and ICAEW ( well actually im doing all three though cause ,my ultimate aim was to do ICAEW and the only way you can do it in pakistan without ICAEW training contract is through ICAP) but in terms of course structure and the subjects covered in these qualifications they are virtually the same. Its just that if you wanna go to UK, Go for ICAEW, wanna stay in Pak, go for ICAP.. Wanna go to america go for CPA.. Its much better to have the local qualification of the country where you intend to settle.

CIMA is also a different field from ACCA/CA but its not entirely different like CIA and CFA are. In my opinion any 2 of three (CIMA, CFA, CIA) would be a good combination along with ACCA.

CIA is very flexible.. I dont know much about it but some of my friends gave it and i think it has 4 levels and you can give it any time you want.. just register with an institute 1-2 weeks before you want to give the exam and solve the exam on the computer and you receive your result there and then after you complete your exam.. its all MCQ based i think. Im not quite sure what CIA covers but i think it covers Internal Controls and Business process type of things.. Im guessing its mostly theoretical. CIA is a big plus if you really want to go into Internal Audit.

CIMA is for Management Accounting.. If you wanna be someone who prepares budgets and prepares costing schedules etc then go for CIMA. Great advantage is that you get loads of exemption and it is a slightly different field then CA/ACCA

CFA is for Investment Professionals.. If you liked studying F9 and P4 in ACCA then go for CFA.. The disadvantage is that by doing CFA you will most probably get a job in a bank because CFA's are investment professionals. You can also get jobs in companies if you have a CFA must i'd say 60-70% of the CFAs are usually working in a bank or financial institution as investment professionals. So if you consider bank haram, this might effect your choice.

I'd say complete ACCA till F9 and then make your decision regarding which qualification you wanna pursue later on because by F9 you would have studied F2 and F5 (Management Accounting subjects) and F9 (Financial Investment subjects) so you'll have more understanding of what you can expect in CIMA and CFA.. I dont think any part of CIA is covered in ACCA subjects though.

 

[Cerberus]

[MENTION=20461]Pakiyoungster[/MENTION] dude rechecking hoti hai 750 fee hai. Paper us ka akheer hua tha I know

 

[Hassan Aftab]

He's spot on. Diversify.. There's really no advantage in doing ACCA and CA from Icap and ICAEW ( well actually im doing all three though cause ,my ultimate aim was to do ICAEW and the only way you can do it in pakistan without ICAEW training contract is through ICAP) but in terms of course structure and the subjects covered in these qualifications they are virtually the same. Its just that if you wanna go to UK, Go for ICAEW, wanna stay in Pak, go for ICAP.. Wanna go to america go for CPA.. Its much better to have the local qualification of the country where you intend to settle.

CIMA is also a different field from ACCA/CA but its not entirely different like CIA and CFA are. In my opinion any 2 of three (CIMA, CFA, CIA) would be a good combination along with ACCA.

CIA is very flexible.. I dont know much about it but some of my friends gave it and i think it has 4 levels and you can give it any time you want.. just register with an institute 1-2 weeks before you want to give the exam and solve the exam on the computer and you receive your result there and then after you complete your exam.. its all MCQ based i think. Im not quite sure what CIA covers but i think it covers Internal Controls and Business process type of things.. Im guessing its mostly theoretical. CIA is a big plus if you really want to go into Internal Audit.

CIMA is for Management Accounting.. If you wanna be someone who prepares budgets and prepares costing schedules etc then go for CIMA. Great advantage is that you get loads of exemption and it is a slightly different field then CA/ACCA

CFA is for Investment Professionals.. If you liked studying F9 and P4 in ACCA then go for CFA.. The disadvantage is that by doing CFA you will most probably get a job in a bank because CFA's are investment professionals. You can also get jobs in companies if you have a CFA must i'd say 60-70% of the CFAs are usually working in a bank or financial institution as investment professionals. So if you consider bank haram, this might effect your choice.

I'd say complete ACCA till F9 and then make your decision regarding which qualification you wanna pursue later on because by F9 you would have studied F2 and F5 (Management Accounting subjects) and F9 (Financial Investment subjects) so you'll have more understanding of what you can expect in CIMA and CFA.. I dont think any part of CIA is covered in ACCA subjects though.

I am pleasantly surprised by the detail of your response, alamode. Thanks so much.

Well, I do acknowledge the fact that I need to diversify. Problem is, I don't exactly have aims as yet; meaning thereby, I am not sure what field of accountancy, be it audit, performance management, taxation, would interest me most. And that's quite understandable as I am hardly 1 year into my ACCA studies. Of course, your suggestion of hanging in there till Paper F9 before making up my mind answers that quite well.

However, I continue to hear about qualifications that I had never heard about before, like CISA, QIA and it makes me wonder if I need to review my options with the ACCA all over again.
Now I don't know if you have much knowledge about CISA but it appears to be something of the sort that CIA is; only difference being the non-internal computerized accounting methods of audit control that it incorporates.
Now I am confused as you can tell.

Since I forsee the UAE to be my final destination when it comes to finding a job abroad, would CIA and/or CISA along with the ACCA (of course) be a viable combination?
The debate is about CISA and CIA (whether there should be one out of the two that I pursue or both).
I know for a fact that I would be pursuing CFA but only in some later part of my life, when I am well settled, with all these hassles put to rest.
I am also unsure about the scope of these qualifications here AND in the UAE.
Of course, I would want to have qualifications that benefit me; both, here in Pakistan as I train and abroad (preferably the Middle East).

Now, since all of this is just so muddled up in my head my mind tells me that upon qualifying as an ACCA affiliate I should sit the CIMA exams straightaway (since its somewhat a specialized field in Management Accounting), then pursue CIA/CISA (or both if required) AND CFA sometime later after my employment (although I feel I might not have time and interest for it by then).

Now does that plan sound like way too much cream on the cake or is it really going to benefit me in the long run, to have so many varied qualifications under the belt?
Also, I am not sure about exemptions that most of these qualifications (APART from CIMA) offer to ACCA affiliates and what the course fee are and total course duration along with tuition providers in Pakistan.
Do tell me what combination might suit well, or if this one sounds realistic enough and roughly how long this whole plan can take.

Thanks in advance.

PS: Re-reading this post makes me realize how annoyingly desperate it sounds.
I wish ACCA was enough as a lone qualification in Accountancy, would have saved me all the hassle of thinking over so many option AFTER ACCA: sounds insane to me now!

 

[alamode]

I am pleasantly surprised by the detail of your response, alamode. Thanks so much.

Well, I do acknowledge the fact that I need to diversify. Problem is, I don't exactly have aims as yet; meaning thereby, I am not sure what field of accountancy, be it audit, performance management, taxation, would interest me most. And that's quite understandable as I am hardly 1 year into my ACCA studies. Of course, your suggestion of hanging in there till Paper F9 before making up my mind answers that quite well.

However, I continue to hear about qualifications that I had never heard about before, like CISA, QIA and it makes me wonder if I need to review my options with the ACCA all over again.
Now I don't know if you have much knowledge about CISA but it appears to be something of the sort that CIA is; only difference being the non-internal computerized accounting methods of audit control that it incorporates.
Now I am confused as you can tell.

Since I forsee the UAE to be my final destination when it comes to finding a job abroad, would CIA and/or CISA along with the ACCA (of course) be a viable combination?
The debate is about CISA and CIA (whether there should be one out of the two that I pursue or both).
I know for a fact that I would be pursuing CFA but only in some later part of my life, when I am well settled, with all these hassles put to rest.
I am also unsure about the scope of these qualifications here AND in the UAE.
Of course, I would want to have qualifications that benefit me; both, here in Pakistan as I train and abroad (preferably the Middle East).

Now, since all of this is just so muddled up in my head my mind tells me that upon qualifying as an ACCA affiliate I should sit the CIMA exams straightaway (since its somewhat a specialized field in Management Accounting), then pursue CIA/CISA (or both if required) AND CFA sometime later after my employment (although I feel I might not have time and interest for it by then).

Now does that plan sound like way too much cream on the cake or is it really going to benefit me in the long run, to have so many varied qualifications under the belt?
Also, I am not sure about exemptions that most of these qualifications (APART from CIMA) offer to ACCA affiliates and what the course fee are and total course duration along with tuition providers in Pakistan.
Do tell me what combination might suit well, or if this one sounds realistic enough and roughly how long this whole plan can take.

Thanks in advance.

PS: Re-reading this post makes me realize how annoyingly desperate it sounds.
I wish ACCA was enough as a lone qualification in Accountancy, would have saved me all the hassle of thinking over so many option AFTER ACCA: sounds insane to me now!

Lol, Well it all depends on which fields you want to get into..

I dont have much information of CIA but im using CISA book to study for Module E IT exams so i know quite a bit about it.. Its basically internal controls related to Information Technology and im guessing CIA is Internal Controls as a whole subject not just limited to Information Technology. Like for example in CISA you would study what would be the backup strategies in a company for protection of data, what would be the security measures against attacks on Computer Systems etc etc

To be honest, I think a combination of ACCA plus either CIA/CIMA/CISA would be good and if you wanna study even more then you can go for an MBA and even a CFA later on.

 

[Hassan Aftab]

Lol, Well it all depends on which fields you want to get into..

I dont have much information of CIA but im using CISA book to study for Module E IT exams so i know quite a bit about it.. Its basically internal controls related to Information Technology and im guessing CIA is Internal Controls as a whole subject not just limited to Information Technology. Like for example in CISA you would study what would be the backup strategies in a company for protection of data, what would be the security measures against attacks on Computer Systems etc etc

To be honest, I think a combination of ACCA plus either CIA/CIMA/CISA would be good and if you wanna study even more then you can go for an MBA and even a CFA later on.

Well, you are right about CIA being an INTERNAL audit concern, absolutely.

Now from what I have read about it so far, employers abroad prefer CISA over CIA but I am not sure why and how (because of advancements in and the need of technological/computerized controls maybe?).
That's what makes me wonder if CISA is in any way BETTER than CIA.

So, what you are saying is that there is just ONE qualification out of CIA, CISA and CIMA that I should opt for upon completion of my ACCA? I mean, not two of these, like CIA AND CIMA or CIA AND CISA?
Can you also comment over the exemptions that CISA and/or CIA offers for ACCA graduates?

Lets just assume that I want to get into auditing and finance (a diversification basically), so what combinations do you suggest?

Lastly, would you recommend doing MBA Finance or MSc Finance? Moreover, do I need to study the Masters level of Finance at all before I pursue CFA or should I simply jump right into it AFTER all those combinations with ACCA that I still have to decide on? Basically I ask this to be clear on whether a Masters level of study in Finance might be crucial in getting me ready for professional level Financial studies like CFA, or would my ACCA be enough warm up for the act?

 

[alamode]

I dont think there's any point in doing CISA and CIA both.. Probably should do either one of those.. From my understanding they are pretty similar. Im not quite sure about exemptions but i think there arent any exemptions for CIA.. not sure about CISA.

And well i think ACCA is enough for introduction to CFA.. Like all professional qualifications, CFA starts from the basics so even if you dont have any prior knowledge regarding investments and portfolios etc etc you can still do well in it.. But ACCA's F9 and P4 are adequate for an introduction to the finance field

 

[Hassan Aftab]

I dont think there's any point in doing CISA and CIA both.. Probably should do either one of those.. From my understanding they are pretty similar. Im not quite sure about exemptions but i think there arent any exemptions for CIA.. not sure about CISA.

And well i think ACCA is enough for introduction to CFA.. Like all professional qualifications, CFA starts from the basics so even if you dont have any prior knowledge regarding investments and portfolios etc etc you can still do well in it.. But ACCA's F9 and P4 are adequate for an introduction to the finance field

Hmm, got it.
I ll have to conduct a little research about the job market for CISA and for CIA before I choose one out of the two, I suppose.

So, should I not add CIMA to my CV by sitting those last three exams (AFTER claiming exemptions on the basis of my ACCA studies ofcourse)?
I mean, does its presence on the CV count even a teensy weensy bit if I am to pursue audit and/or finance?

 

[alamode]

Hmm, got it.
I ll have to conduct a little research about the job market for CISA and for CIA before I choose one out of the two, I suppose.

So, should I not add CIMA to my CV by sitting those last three exams (AFTER claiming exemptions on the basis of my ACCA studies ofcourse)?
I mean, does its presence on the CV count even a teensy weensy bit if I am to pursue audit and/or finance?

Well its still a positive and its still a qualification but its not that much related to audit or finance. I mean you wouldn't ever see a advertisement job of an auditor asking for an CIMA.. They'll all ask CA/ACCA/CISA/CIA etc and i dont think if one person who has a ACCA qualification and doesnt have the Cima qualification against someone who has an ACCA and CIMA both, i dont think it would really matter to the employer that the 2nd person has done CIMA if he's hiring an auditor.

The advantage that you get is that you'd be able to apply for different jobs which also require CIMA qualified students.. Thats the advantage you get when you diversify..

 

[qazishehryar]

Guys you still haven't answered my question.... What do you guys think about CPA from ICPAP??? Scope etc???? should i go for MBA (Finance) now or should i go for CPA???? if i do MBA (Finance) now it will take almost 3-4 years due to 2 years Grad degree and CPA will also take around 3 years.... If i do CPA, will i be able to do 1.2 years MBA or it will still take 4 years for MBA????

 

[Hassan Aftab]

Guys you still haven't answered my question.... What do you guys think about CPA from ICPAP??? Scope etc???? should i go for MBA (Finance) now or should i go for CPA???? if i do MBA (Finance) now it will take almost 3-4 years due to 2 years Grad degree and CPA will also take around 3 years.... If i do CPA, will i be able to do 1.2 years MBA or it will still take 4 years for MBA????

As per my Financial Accounting tutor, CFA graduates are high in demand. The starting salaries are also pretty high for all those who clear CFA. MBA Finance isn't quite the same thing as CFA as they constitute a whole lot more knowledge of finance which of course is better for you.
PS: CFA is what im talking about, NOT CPA. And yes, there are plenty of institutions in place for CFA tutoring in Pakistan. Takes minimum three years to clear.

 

[qazishehryar]

CFA = Certified Financial Analyst???