CA -|- Chartered Accountants Thread

[alamode]

any plans ?
it seems impossible to me how a certified/finalist CA after completing 3.5 years articles can spent 4 years for getting CFA work experience

Why not?

Unlike CA articles, CFA work experience is a normal job with normal industry pay. So it doesnt matter that much. Its not like i have to spend another 4 years at minimum stipend .. I can expect somewhere around 40-70k a month after articles completed.

 

[CA student]

now that sounds interesting
but I am doing CA after inter so I will have to go for some bachelors degree along with my ca so that I could be eligible for giving CFA exams

 

[alamode]

now that sounds interesting
but I am doing CA after inter so I will have to go for some bachelors degree along with my ca so that I could be eligible for giving CFA exams

You can give b.com exams..

Btw you can give Level 1 without having bachelors degree but you need bachelors degree to give level 2 exam. Secondly you must have a bachelors degree even if you're not doing CFA. Bohat jagah they require bacehlors degree when you apply for job so make sure you do b.com even if you dont do CFA

 

[CA student]

You can give b.com exams..

Btw you can give Level 1 without having bachelors degree but you need bachelors degree to give level 2 exam. Secondly you must have a bachelors degree even if you're not doing CFA. Bohat jagah they require bacehlors degree when you apply for job so make sure you do b.com even if you dont do CFA

I should do it from a uni or private?
b.com 2years or b.com hon. which one is suitable with CA studies ?
and what about bba hons. ?

 

[alamode]

I should do it from a uni or private?
b.com 2years or b.com hon. which one is suitable with CA studies ?
and what about bba hons. ?

2 years bachelors degree is not recognized abroad and even here in most universities it is not recognized. I dont know much about bcom because i didnt have to do bcom because i got bachelors from Oxford Brookes via ACCA. I dont know the difference between bcom 2 years and bcom hons to be honest..

I say this because once you're at the end of your articles and you start applying abroad they will ask you your highest qualification (i.e. bachelors or masters etc.) They expect us to have a bachelors degree along with a professional qualification like (ACCA/CA)

 

[saadi939]

[MENTION=5101]alamode[/MENTION]
Is it possible to register for dec 13 session of CFA level 1 exams right now? Also, do you think its possible to pass the exam if I start studying right now?

 

[alamode]

@alamode
Is it possible to register for dec 13 session of CFA level 1 exams right now? Also, do you think its possible to pass the exam if I start studying right now?

Yes and Yes.

You can register till september, however there are 3 deadlines.. on each deadline the fees increases. 1st deadline has already passed.. 2nd deadline im not sure when it is you should check it up but the last and 3rd deadline goes till september.

Level 1 requires around 300-400 hours of study. So if you put in 2 months of full time study, you can pass the exam.

 

[saadi939]

Yes and Yes.

You can register till september, however there are 3 deadlines.. on each deadline the fees increases. 1st deadline has already passed.. 2nd deadline im not sure when it is you should check it up but the last and 3rd deadline goes till september.

Level 1 requires around 300-400 hours of study. So if you put in 2 months of full time study, you can pass the exam.

Ah I checked, 2nd deadline is 21 august...
But whewww... the fees really created a little bit confusion in me

I've always heard a lot of praise for it (basically thats the only reason i have planned to do it for quite some time) and i do have interest in this field, but do you think it is really worth the effort and money? And what do you think about its job market. here is pakistan as well as abroad?

I had originally planned to do it after completing ACCA, but I think I will be wasting some time if i just study for 1 ACCA paper all this session... What do you say? Should I go for it, or wait till I've cleared full ACCA?

 

[alamode]

Ah I checked, 2nd deadline is 21 august...
But whewww... the fees really created a little bit confusion in me

I've always heard a lot of praise for it (basically thats the only reason i have planned to do it for quite some time) and i do have interest in this field, but do you think it is really worth the effort and money? And what do you think about its job market. here is pakistan as well as abroad?

I had originally planned to do it after completing ACCA, but I think I will be wasting some time if i just study for 1 ACCA paper all this session... What do you say? Should I go for it, or wait till I've cleared full ACCA?

The market here in pakistan is not great for CFA to be honest. Much wider scope abroad then over here. There are only a handful of CFA members here in pakistan (i think around 200-300). Plus when you tell people about CFA they go crazy as if its something out of this world.. CFA is not something out of this world as most people beleive.. Its a tough qualification no doubt, but people have this perception that you complete CFA and automatically get a big job with a huge pay.. thats not the case. Infact employers would prefer a CFA Level 1 passed student with 1 year experience over a CFA Level 2 or 3 passed candidate with 0 experience. Experience is what matters the most in any field. Without experience no one will hire you. I know a friend who completed all levels of CFA and then got a job at 40thousand rs per month. Woh bhi bari mishkil say mili thi..

I would suggest to complete ACCA, attempt P4 if you havent because it will give you a bit of idea what CFA is all about, then give CFA Level 1 and then try to get a job in an Asset Management Company or brokerage firm or something related to CFA and then start giving the remaining CFA Level 2 and 3. You can give Level 1 before or after completing ACCA, wont make alot of difference because Level 1 is held twice a year unlike Level 2 and 3 which are held only once a year in June, but relevant experience for CFA is very important.

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Oh and most Asset Management Companies also reimburse your CFA fees if you work with them and give CFA exams. So its definately best to get a relevant job in an AMC or brokerage firm and then give CFA exams.. You get experience plus your fees get reimbursed as well if you pass.

 

[saadi939]

The market here in pakistan is not great for CFA to be honest. Much wider scope abroad then over here. There are only a handful of CFA members here in pakistan (i think around 200-300). Plus when you tell people about CFA they go crazy as if its something out of this world.. CFA is not something out of this world as most people beleive.. Its a tough qualification no doubt, but people have this perception that you complete CFA and automatically get a big job with a huge pay.. thats not the case. Infact employers would prefer a CFA Level 1 passed student with 1 year experience over a CFA Level 2 or 3 passed candidate with 0 experience. Experience is what matters the most in any field. Without experience no one will hire you. I know a friend who completed all levels of CFA and then got a job at 40thousand rs per month. Woh bhi bari mishkil say mili thi..

I would suggest to complete ACCA, attempt P4 if you havent because it will give you a bit of idea what CFA is all about, then give CFA Level 1 and then try to get a job in an Asset Management Company or brokerage firm or something related to CFA and then start giving the remaining CFA Level 2 and 3. You can give Level 1 before or after completing ACCA, wont make alot of difference because Level 1 is held twice a year unlike Level 2 and 3 which are held only once a year in June, but relevant experience for CFA is very important.

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Oh and most Asset Management Companies also reimburse your CFA fees if you work with them and give CFA exams. So its definately best to get a relevant job in an AMC or brokerage firm and then give CFA exams.. You get experience plus your fees get reimbursed as well if you pass.

So first get a relevant job on the bases of ACCA and then start CFA...
But wont it take too long then? I mean if I start CFA in early 2014 (after completing ACCA) then the earliest possible route would be level 1- june 2014, level 2- june 15 and level 3- june 16... Whereas if i start this december, I can try to complete it by june 15. Also if I complete ACCA and CFA level 1 this attempt, itll be easier to get a starting job in AMC or brokerage firm right after my ACCA is finished...
What do you think?
Also do you think theres any chance I can land a job with one paper left of ACCA?

 

[alamode]

So first get a relevant job on the bases of ACCA and then start CFA...
But wont it take too long then? I mean if I start CFA in early 2014 (after completing ACCA) then the earliest possible route would be level 1- june 2014, level 2- june 15 and level 3- june 16... Whereas if i start this december, I can try to complete it by june 15. Also if I complete ACCA and CFA level 1 this attempt, itll be easier to get a starting job in AMC or brokerage firm right after my ACCA is finished...
What do you think?
Also do you think theres any chance I can land a job with one paper left of ACCA?

Dont worry about how long it will take.. a year or two here and there doesnt make much difference when you're doing Masters or CFA or MBA sort of thing. To complete ACCA/Bachelors etc on time is more important so that you can land your first job.

But yeah if you give Level 1 then it will increase your chances of getting a relevant job so if you want you can give in december but since you've only got 1 paper of ACCA left you must think it through because CFA's course is huge and if you take on an extra ACCA paper along with it, it will become very tough to handle everything. CFA's course is atleast as big as 4-5 subjects of ACCA. There are a total of 10 topics broken down into 5-6 books. There's a lot of material to cover. So that option is up to you.. If you can give ACCA and Level 1 together go for it.

And well with one paper left of acca its tough.. even acca affiliates are not getting jobs these days to be honest.. jaan pechan hai tou sab hojaye ga .. otherwise its tough. ACCA + Level 1 cleared will definately boost your chances of getting a CFA relevant job.

 

[gamer11]

how much do ICAEW trainees get paid?
thinking to go for it after ACCA
will have to choose optionals then

training will start once i get exemption or after i complete remaining 2 papers n case study?

 

[saadi939]

Dont worry about how long it will take.. a year or two here and there doesnt make much difference when you're doing Masters or CFA or MBA sort of thing. To complete ACCA/Bachelors etc on time is more important so that you can land your first job.

But yeah if you give Level 1 then it will increase your chances of getting a relevant job so if you want you can give in december but since you've only got 1 paper of ACCA left you must think it through because CFA's course is huge and if you take on an extra ACCA paper along with it, it will become very tough to handle everything. CFA's course is atleast as big as 4-5 subjects of ACCA. There are a total of 10 topics broken down into 5-6 books. There's a lot of material to cover. So that option is up to you.. If you can give ACCA and Level 1 together go for it.

And well with one paper left of acca its tough.. even acca affiliates are not getting jobs these days to be honest.. jaan pechan hai tou sab hojaye ga .. otherwise its tough. ACCA + Level 1 cleared will definately boost your chances of getting a CFA relevant job.

4-5 subjects of ACCA equivalent of just level 1? :O whoops thats too much with ACCA papers.. I guess then ill wait then...

 

[alamode]

4-5 subjects of ACCA equivalent of just level 1? :O whoops thats too much with ACCA papers.. I guess then ill wait then...

Yup check the course.. The books are huge. If you combine 4 or 5 ACCA BPP Study Texts thats equal to CFA Level 1 course.

Btw you can find the CFA books online in PDF format if you want to look at it. There will be two books, one is the official CFA study text (which is so lengthy that no one is able to study from it) and the second one is kaplan study notes which are a short version of the CFAI study text.. People usually study from Kaplan but Kaplan doesnt cover the course properly in some areas. Anyway if you want the books in soft i have them for 2013 i can send you.

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how much do ICAEW trainees get paid?
thinking to go for it after ACCA
will have to choose optionals then

training will start once i get exemption or after i complete remaining 2 papers n case study?

If you're talking about ICAEW salary over here in firms, its the same as ICAP trainees. Training should start after you claim exemptions

 

[saadi939]

Yup check the course.. The books are huge. If you combine 4 or 5 ACCA BPP Study Texts thats equal to CFA Level 1 course.
Btw you can find the CFA books online in PDF format if you want to look at it. There will be two books, one is the official CFA study text (which is so lengthy that no one is able to study from it) and the second one is kaplan study notes which are a short version of the CFAI study text.. People usually study from Kaplan but Kaplan doesnt cover the course properly in some areas. Anyway if you want the books in soft i have them for 2013 i can send you.

Ah yes, please do...
My email address is [email protected]. Please send them there.

And how much is the syllabus overlap between both ACCA (except for p4) and CFA level 1? And what about the paper like ratio between theory and computational?

I read a few posts above where you said that its more like self study, are there online lectures also available or is it just you and your book?

 

[alamode]

Ah yes, please do...
My email address is [email protected]. Please send them there.

And how much is the syllabus overlap between both ACCA (except for p4) and CFA level 1? And what about the paper like ratio between theory and computational?

I read a few posts above where you said that its more like self study, are there online lectures also available or is it just you and your book?

Ill send you the links in a while, the pdfs are too big to be attached in email..

Well there isnt much overlap apart from F9 and P4.. You'll get a bit of help from F7 and P2 in Financial Reporting and Analysis topic of the CFA Cirriculum but apart from that there isnt anything overlapping. The cirriculum consist of :
1. Ethics
2. Quantitative Methods
3. Financial Reporting and Analysis
4. Equity
5. Fixed Income
6. Alternative Investments
7. Derivatives
8. Portfolio Management
9. Corporate Finance
10. Economics

So the only thing overlapping is F9/P4 and a little bit of F7/P2.

The paper is around 65% computational 35% theory (just an estimate) but its all MCQs in Level 1 and Level 2 so you dont have to worry about remembering theory alot.. you just need to know the concept and if they ask you in an MCQ, you'll know the answer because it will be one of the options given so not alot of rote learning required.

And yeah there are videos from Kaplan which you can download from torrents and study from them.. They are pretty good for self study. I used the videos + Kaplan books to study.

 

[hashmisaab]

2 years bachelors degree is not recognized abroad and even here in most universities it is not recognized. I dont know much about bcom because i didnt have to do bcom because i got bachelors from Oxford Brookes via ACCA. I dont know the difference between bcom 2 years and bcom hons to be honest..

I say this because once you're at the end of your articles and you start applying abroad they will ask you your highest qualification (i.e. bachelors or masters etc.) They expect us to have a bachelors degree along with a professional qualification like (ACCA/CA)

hey buddy ! how u doing,

so I am wondering how our OBU degree serves as compared to b.com here in Pak for meeting job and University requirements ?
I mean where I'm working right now , on internship ,I would easily get a Job if I had a B.Com ...

 

[alamode]

hey buddy ! how u doing,

so I am wondering how our OBU degree serves as compared to b.com here in Pak for meeting job and University requirements ?
I mean where I'm working right now , on internship ,I would easily get a Job if I had a B.Com ...

Hey man.. well if i recall correctly i had sent an email to HEC regarding this and what they told me was that if i had done A levels and then obtained the OBU degree, the degree will be equivalent to a 4 years bachelors degree and i can get bachelors equivalency here in pakistan from HEC since i would have completed the 16 years education requirement by doing A levels. However if i hadn't done A levels i would'nt be eligible for 4 years bachelors equivalency here in pakistan.

I tell you this because most universities recognize a 4 years bachelors degree for admission into MBA program.


If you've done A levels, you're fine you can apply to University for MBA on the basis of BSc from OBU (you can also apply on the basis of your ACCA too if you have completed it) plus BSc from OBU is much better than B.Com so if you have BSc instead of Bcom you're better off.

 

[fahd]

Uk Bsc is equivalent to 3 years and not 4 years

Sent from my GT-I9100 using Tapatalk 2

 

[alamode]

Uk Bsc is equivalent to 3 years and not 4 years

Sent from my GT-I9100 using Tapatalk 2

Read my post again.