04-14-2007, 06:05 PM
Dear Amir,
I have not criticised the curriculum of ACCA. I, in some of my other posts said that yes ACCA curriculum is well designed and off course all professionals can get benefit from each others' developments and researchs. However, on the other hand I do not regard ACCAs equal to CAs, all over the world and specially in Pakistan, for my personal reasons. It is not a biase, I confirm. Further, I strictly object on giving ACCAs permission to start practice like CAs in Pakistan. This is solely my personal view and it may be right or wrong in some one other's opinion.
At the same time I also recommend ACCAs to prove theirselves in practice through altrenative means.
I agree that ICAP exams are difficult to get through. The reasons might be the same as you have pointed out, although I dont agree with it. In my view, ACCA started making its place in early 90s in Pakistan, while ICAP was established in 1961. This is substantiated by the fact that a very fewer ACCAs are working in Pakistan solely on the basis of ACCA qualification. If some ACCA is also an ACA, I regard him ACA and not ACCA, for such an analysis. Off course ICAP may have so many reasons to give ACCA a tough time. Tough time is not a thing to be criticised. In my view it gives an impetus to work hard and fight back to make some one's own place in a given culture. ACCAs should take this tough time positively and work hard to prove theirselves in Pakistan. I dont talk about any foreign country.
It would be ridiculous that some one does no do anything practically and starts criticising ICAP. While all my ACCA brothers have an oppurtunity to get into the advisory and consultancy businesses, why they dont bother to do it. They should come up in the practical field and prove theirselves. I agree that in initial days there would be lesser chances for them to groom in a set up where ICAP retains all the powers. But certainly, knowledge cannot be defeated. If you ACCAs are upto it, you will Inshallah succeed one day. Let your efforts be put in the practical field. I know some CFAs and qualified Corporate Secratries who have established their professional businesses and are working very well. Yesterday I received a letter from Karachi, some CFAs are managing and introducing new capital market business/investment oppurtunities (through establishing the funds). I appreciate their efforts. Every one should come up with his knowledge and expertise. It is an open market. Get into it and face your risks and rewards.
Despite whatever views I personally have for ACCA (which are also more specifically Pakistan focussed), I dont disregard their curriculum. I know so many ICAP students study the books of ACCA and CIMA. I also studied CIMA's book on Financial Reporting for clearing my concepts on consolidation of financial statements some way back in 1999-2000. The main reason behind is lack of research work in Pakistan. What you have written about the books of Shukla and Gupta, I partially agree with it. I entered CA after doing B.Com. I know the books of Shukla and Gupta are very much helpful in understanding the double entry accounting system. These provide basic knowledge of accounting from a journal entry to general ledger and trial balance. Practically speaking, these books provide book-keeping knowledge instead of more refined accountancy knowledge. There are various phases of knowledge buidling and for that I dont find reasons for objection on these books. These are the people who have done marvellous jobs for students of earlier days. We should not reject their sincere efforts. However, I agree that these dont cater the new accounting frameworks based upon IFRSs and other pronouncements simply because these developments have been made subsequently. You must keep in mind that by simply going on to IFRSs or other international pronouncements, one might develope a good data bank and speaking knowledge but for real technical knowledge, these books need to be considered. The most advanced "West" did not forget the work of SPICER PEGGLER, COLLIN DRURY, MATZ USRY and WILLIAM PICKLES. (there might be some mistake in spellings of names). They still quote their conclusions in their research works.
However, in my CA Inter, I studies William Pickles. It is a very nice book.
Now, the matter of earning of an ACCA more than CA. I know this can happen and it may or may not depend upon more competency of ACCA than CA. As you have discussed that personal abilities count. I agree with it. That CA might have lesser personal capabilities. But I point out that this way competency may not be judged at country level.
If you have to do it, you will have to analyse all the data because rare cases are not an example.
I know one thing that is a fact. I so many times receive calls from clients and non-clients to refer them some professional for their financial or accounting management. They tell me the expected compensation package of 100,000 plus for CA with 2 or 3 years experience along with 1300 cc car. {I dont have a doubt that so many CAs are earning even more than one million per month in Pakistan, but I am talking about the fresh one's having two years exposure}. If you can believe me, I never heard any demand for ACCA from any of such clients or non-clients. These clients are not affected by the whatever role ICAP is playing. The entraprenures are normally foreign qualified MBAs. But they never demanded ACCA for such vacant posts with them.
However, in so many government based advertised jobs, ACA/ACMA/ACCA appears to be mentioned despite the fact that government jobs might be ICAP influenced. However, in my view, such jobs are mainly occupied by ACMAs because CAs dont opt such jobs due to lesser remunerations and exposure for such jobs.
Again, this does snot necessarily grant ACCA to be much lesser than CA. In my view, this happens because ACCA is neoborn as compared to CA, at least in Pakistan.
So, my dear Amir, instead of getting offensive or showing anger for ICAP or its members, you ACCAs should try to prove your selves. Number crunchers are criticised but in this case number crunching will prove the acceptability of ACCAs in Pakistan.
Best regards,
Kamran.
I have not criticised the curriculum of ACCA. I, in some of my other posts said that yes ACCA curriculum is well designed and off course all professionals can get benefit from each others' developments and researchs. However, on the other hand I do not regard ACCAs equal to CAs, all over the world and specially in Pakistan, for my personal reasons. It is not a biase, I confirm. Further, I strictly object on giving ACCAs permission to start practice like CAs in Pakistan. This is solely my personal view and it may be right or wrong in some one other's opinion.
At the same time I also recommend ACCAs to prove theirselves in practice through altrenative means.
I agree that ICAP exams are difficult to get through. The reasons might be the same as you have pointed out, although I dont agree with it. In my view, ACCA started making its place in early 90s in Pakistan, while ICAP was established in 1961. This is substantiated by the fact that a very fewer ACCAs are working in Pakistan solely on the basis of ACCA qualification. If some ACCA is also an ACA, I regard him ACA and not ACCA, for such an analysis. Off course ICAP may have so many reasons to give ACCA a tough time. Tough time is not a thing to be criticised. In my view it gives an impetus to work hard and fight back to make some one's own place in a given culture. ACCAs should take this tough time positively and work hard to prove theirselves in Pakistan. I dont talk about any foreign country.
It would be ridiculous that some one does no do anything practically and starts criticising ICAP. While all my ACCA brothers have an oppurtunity to get into the advisory and consultancy businesses, why they dont bother to do it. They should come up in the practical field and prove theirselves. I agree that in initial days there would be lesser chances for them to groom in a set up where ICAP retains all the powers. But certainly, knowledge cannot be defeated. If you ACCAs are upto it, you will Inshallah succeed one day. Let your efforts be put in the practical field. I know some CFAs and qualified Corporate Secratries who have established their professional businesses and are working very well. Yesterday I received a letter from Karachi, some CFAs are managing and introducing new capital market business/investment oppurtunities (through establishing the funds). I appreciate their efforts. Every one should come up with his knowledge and expertise. It is an open market. Get into it and face your risks and rewards.
Despite whatever views I personally have for ACCA (which are also more specifically Pakistan focussed), I dont disregard their curriculum. I know so many ICAP students study the books of ACCA and CIMA. I also studied CIMA's book on Financial Reporting for clearing my concepts on consolidation of financial statements some way back in 1999-2000. The main reason behind is lack of research work in Pakistan. What you have written about the books of Shukla and Gupta, I partially agree with it. I entered CA after doing B.Com. I know the books of Shukla and Gupta are very much helpful in understanding the double entry accounting system. These provide basic knowledge of accounting from a journal entry to general ledger and trial balance. Practically speaking, these books provide book-keeping knowledge instead of more refined accountancy knowledge. There are various phases of knowledge buidling and for that I dont find reasons for objection on these books. These are the people who have done marvellous jobs for students of earlier days. We should not reject their sincere efforts. However, I agree that these dont cater the new accounting frameworks based upon IFRSs and other pronouncements simply because these developments have been made subsequently. You must keep in mind that by simply going on to IFRSs or other international pronouncements, one might develope a good data bank and speaking knowledge but for real technical knowledge, these books need to be considered. The most advanced "West" did not forget the work of SPICER PEGGLER, COLLIN DRURY, MATZ USRY and WILLIAM PICKLES. (there might be some mistake in spellings of names). They still quote their conclusions in their research works.
However, in my CA Inter, I studies William Pickles. It is a very nice book.
Now, the matter of earning of an ACCA more than CA. I know this can happen and it may or may not depend upon more competency of ACCA than CA. As you have discussed that personal abilities count. I agree with it. That CA might have lesser personal capabilities. But I point out that this way competency may not be judged at country level.
If you have to do it, you will have to analyse all the data because rare cases are not an example.
I know one thing that is a fact. I so many times receive calls from clients and non-clients to refer them some professional for their financial or accounting management. They tell me the expected compensation package of 100,000 plus for CA with 2 or 3 years experience along with 1300 cc car. {I dont have a doubt that so many CAs are earning even more than one million per month in Pakistan, but I am talking about the fresh one's having two years exposure}. If you can believe me, I never heard any demand for ACCA from any of such clients or non-clients. These clients are not affected by the whatever role ICAP is playing. The entraprenures are normally foreign qualified MBAs. But they never demanded ACCA for such vacant posts with them.
However, in so many government based advertised jobs, ACA/ACMA/ACCA appears to be mentioned despite the fact that government jobs might be ICAP influenced. However, in my view, such jobs are mainly occupied by ACMAs because CAs dont opt such jobs due to lesser remunerations and exposure for such jobs.
Again, this does snot necessarily grant ACCA to be much lesser than CA. In my view, this happens because ACCA is neoborn as compared to CA, at least in Pakistan.
So, my dear Amir, instead of getting offensive or showing anger for ICAP or its members, you ACCAs should try to prove your selves. Number crunchers are criticised but in this case number crunching will prove the acceptability of ACCAs in Pakistan.
Best regards,
Kamran.
