Acca Qualification

IAF · 11-21-2003, 03:47 AM

I would be grateful if somebody can answer the following questions regarding Acca qualification.
1- If somebody after matric goes for CAT and then for ACCA, is he making the right decision or he should first do intermediate and then B.Com.Can the CAT route can effect his career.Will icap will accept that sudent if we qualifies Acca.
2-The Degree of B.Sc. in Applied Accountancy which a student gets after passing level two of ACCA is it recognized in Pak(P.U,L.U.M.S.or other quality institution)and what its international recognition.
3-I was reading some previous topics on this website and i was horrified when a post from one of the members(sm raza) said that acca qualified in Pakistan gets a salary of 3000-5000 if he does not have the Pawwa(in his words).Is that true? And he further sad that in Pak they are known as Clerks Accountants.Is that true again? Becoz if this is true then there is no way to go for Acca so plz tell me the truth.
4-Now a tough one!Can anybody can tell me the future sitaution of acca-qualified in Pak.Just predict by ur professional capabilties?
hope to get some sincere replies? smraza plz u reply too.
IAF.

Omar Salah Ahmed · 11-21-2003, 10:08 AM

Dear IAF
Assalamalaikum
Well I think its not a bad choice to go for CAT after matric but its always better to have intermediate as well as B.Com in case u arent able to make it
2. The Oxford Brookes BSc Applied Accounting degree has only very recently been recognised by HEC(formerly UGC). Since this development no university in Pakistan should be turning you down. But again I would like to say that you should do your B.Com as well and not depend totally on the ACCA Degree.
3. As for ACCA's being knowns as Accountant Clerk, this is a very wrong concept that you have. ACCA happens to be one of the 7 recognised accounting bodies in the UK, hence how can anyone percieve it to be below CA. Yes no doubt that in Pakistan its a new thing and will take sometime to place stronger foothold but still ACCA's arent in any way less qualified or capable then CA's. This is eveident from that fact that even UNESCO voted ACCA's syllabus as being the most in line with the desirable standards for professional accountants. Second in this list was ICAEW followed by ICA of Australia and then Scotland. Its just a misperception and inshALLAH in due course of time(by the time u qualify) it will be gone and people in Pakistan, just like the rest of the developed world) regard it as equivalent to CA.
You see the reason why ACCA's arent given the same respect or preference here is that ACCA curriculum does not include the Pakistan Law and Tax versions and hence a CA from Pakistan is more aware of the laws and procedures.
4. I think you should read 3 again P.

In the end its your own decision, whoever advices you be it myself, smr or evolution or anyone else will give you their opinion and that may or may not be what you want. You should contact the ACCA office in your area and try to find out more about it. While you are at it visit the ICAP office as well as ICMAP's and once you have spoken to all and listened to all .. then make up your mind as to what you want to do. Anyhow best of luck and pray for us as well as your exams are very close.

OSA

zubair · 11-21-2003, 11:31 AM

Hi IAF (is this your real name)

I think ICAP members are the expert of their respective areas. If you are planning to continue in accountancy, then the choice is simple,
1. Do you want to be with a local player, who in turn provides excellent education and training. or
2. Do you want to be with an international player, who can provide you access to the whole European Union,,, and mind you European union is expaning to Central Asia very soon (former soviet union).

Thanks
zubair

smraza · 11-21-2003, 08:01 PM

Dear IAF,
The ICAP accepts ACCA qualifieds, and the qualified ACCAs get exemptions in the following
1. Pre-entry proficiency test.
2. Module A,B,C,and D,
so they just have to attempt in Module E and F, and they have to do articleship for a period of 3 years, with a CA firm, they have to appear in module E after they completed 18 months of their articleship.
as far as the value of ACCA is concered in Pakistan, here the ICAP's monopoly prevails, if u want to remain in the accountancy profession in pakistan then u should go for CA, (doesnt matter the route adopted by you, i.e. ACCA or ICMA),
ACCAs (with no articleship) gets job like ACMAs, but in they cannot be compared with the CAs in any case.
Clerks accountants, that was a joke dear, dont take it serious. they are called by just ICAP students, it doesnt mean that they are really clerk accountants, as far as pawwa is concerned, most of people even qualifieds get job by refrences, nobody takes the risks of hiring unknown people, however all the formalities of hiring like Ads in newspapers, interviews etc. are fulfilled.
I dont have any idea whether the Degree of B.Sc. in applied accountancy is recognized in Pakistan or not, can u tell me the university who issues that degree, then i ll be able to tell u its recognition.

SMR

IAF · 11-22-2003, 04:02 AM

First of all i want to thanx all of u to be so helpful. Dear Omer ur reply was exactly what i desperately needed.i.e.hope.Now omer i want to ask u a few more questions if u have got some time.if i adopt the B.com route it would take me minimum seven years to be Acca qualified.Now on the other hand if a go for Cat it would take max 4 yaers.so by this i can save three precious years.Which i can spend on icap articleship to be a CA or do Mba or simply it would enable me to marry early<img src=icon_smile_wink.gif border=0 align=middle>.Just kidding.But the most important thing for me is the recognition of Bsc degree of Acca in Pak.Becoz it would make me able to do mba or things like that.do u have any idea would i be able to do Mba from Punjab university lhr.And one last thing would u plz tell me the context of ur sentence"But again i would like to say that u should do B.com and not totally depend on ur Acca degree".And noboby tells me the international recognition of this degree.hopefully we all do a great job in our coming examination.InshAllah.And yes Mr.Zubair its the abbreviation of my real name and i think think everybody want to have access to Eu or international oppurtunities.And dear sm raza thanx God it was a joke.i was simply horrified.AS being the senior member what u think about the CAt route.Becoz if in the end i want o finish as a Ca from icap, this route will save my 2 years i guess.The degree is from Oxford Brookes University London and in the end i would like to tell u about the respect i got for u .Keep it up!
Hope to get replies from all of u soon.(plz).
IAF.

sumaaan · 11-24-2003, 10:56 AM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
First of all i want to thanx all of u to be so helpful. Dear Omer ur reply was exactly what i desperately needed.i.e.hope.Now omer i want to ask u a few more questions if u have got some time.if i adopt the B.com route it would take me minimum seven years to be Acca qualified.Now on the other hand if a go for Cat it would take max 4 yaers.so by this i can save three precious years.Which i can spend on icap articleship to be a CA or do Mba or simply it would enable me to marry early<img src=icon_smile_wink.gif border=0 align=middle>.Just kidding.But the most important thing for me is the recognition of Bsc degree of Acca in Pak.Becoz it would make me able to do mba or things like that.do u have any idea would i be able to do Mba from Punjab university lhr.And one last thing would u plz tell me the context of ur sentence"But again i would like to say that u should do B.com and not totally depend on ur Acca degree".And noboby tells me the international recognition of this degree.hopefully we all do a great job in our coming examination.InshAllah.And yes Mr.Zubair its the abbreviation of my real name and i think think everybody want to have access to Eu or international oppurtunities.And dear sm raza thanx God it was a joke.i was simply horrified.AS being the senior member what u think about the CAt route.Becoz if in the end i want o finish as a Ca from icap, this route will save my 2 years i guess.The degree is from Oxford Brookes University London and in the end i would like to tell u about the respect i got for u .Keep it up!
Hope to get replies from all of u soon.(plz).
IAF.
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

I'm surely not Omar but I'll help you with your questions as no one has replied...

Most of the CA/ACCA students also do B.Com alongside CA/ACCA... The reason is that when you are studying for CA, you have no 'degree' or 'qualification' for minimum six years... So they do B.Com so that they have at least something on which they can fall back upon and perhaps get admission for MBA... Although, if you're doing ACCA and plan to do CA after that, it might still be better to do B.Com with ACCA, as ACCA is no piece of cake as well... So again, better safe than sorry...

So you can also do B.Com and ACCA together while keeping ACCA as your first priority...

The BSc. in Applied Accounting from Oxford Brookes is certainly recognized all over UK... There were problems in the past in its recognition in Pakistan, but now some universities which didnt recognize the BSc degree previously have instead started to accept ACCA equivalent to bachelors, for eg SZABIST... So you'd get admission for Masters anyway.

IAF · 11-25-2003, 04:08 AM

Sumaaan thanx a lot for replying and providing me the required info..i thought u are the Acturial Sciences Champion.. but i guess u r also going good in Accountancy...As far as the other memebers didnt reply i guess Omer will be busy in the preparation of his December attempt....May Allah succeed him with desired percentage....And all others must be busy in their Eid preparations....thanx to u all again....
IAF.

Omar Salah Ahmed · 11-25-2003, 06:20 AM

Dear IAF,
Assalamalaikum
Im sorry for not being able to reply earlier .. As you guessed I was busy with exam preparation. Thankx for your prayers . Well Actually I had typed my reply yesterday but then electricity went so I wasnt able to post it. Im sorry once again. I was saying pretty much the same things as Sumaan but I must admit shez explained it better then me.

OSA

zubair · 11-25-2003, 10:31 PM

Dear Omar

May Allah Help you and everybody who is taking their exams. What papers are you taking.

And a very happy Eid to everybody.

Thanks
zubair

Omar Salah Ahmed · 11-26-2003, 09:55 AM

Dear Zubair
Thankx for your prayers. I am appearing in 2.2 and tax 2.4

OSA

IAF · 11-26-2003, 07:32 PM

Dear Omer its absolutely okay.Being a student i have been through this many times i mean i can understand these imp days before papers.so thanx again to help me in taking the decision.Best of luck for ur exams.Eid Mubarik to all.
IAF.

Omar Salah Ahmed · 11-27-2003, 04:52 AM

eid mubarak zobair
are ui also doing acca?

OSA

Iqbal qureshi · 11-28-2003, 05:05 AM

Respected Memebers!if someone becomes an Acca qualified by the route stated by IAF(Matric,Cat,Acca graduation degree and finally Acca)will the firms will look at him with same respect they got for an Acca qualfied through any other route(i mean while looking for job will he be considered same as the others Acca qualified).

sumaaan · 11-28-2003, 05:51 AM

<BLOCKQUOTE id=quote>quote<hr height=1 noshade id=quote>
Respected Memebers!if someone becomes an Acca qualified by the route stated by IAF(Matric,Cat,Acca graduation degree and finally Acca)will the firms will look at him with same respect they got for an Acca qualfied through any other route(i mean while looking for job will he be considered same as the others Acca qualified).
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote>

An ACCA qualified is an ACCA qualified no matter what route one takes... So yeah they'll be considered at par.

zubair · 11-28-2003, 07:33 AM

Hi Omar

I am not doing acca. I have passed it once.

Thanks
zubair