Confusion CAT + ACCA + CA (ICAP)

Hawk24 · 07-29-2009, 07:33 PM

Hello,
i'm planing to do CAT 4 papers and then jump into ACCA directly, But I don't know one thing, I have got 842 marks out of 1100 in F.sc Is it necessary for me to do CAT right away before doing ACCA because my age is not 21, Or can I go for ACCA directly without having done CAT? please guide me... Also let me know that after doing ACCA If I go for ICAP's CA then What modules I have to do... I have heard E and F and then the training period starts... if that's true then is there any difference between a CA and a person having ACCA and CA degrees. please explain to me that after completing ACCA, is there any training period of ACCA like CA has 3 years. and also then attempting E and F modules and the training period of CA for 3 years am I going to be recognized as a Chartered Accountant as normal as other accountants who have completed CA from ICAP right away after their intermediate levels?

hanifasif · 07-29-2009, 08:29 PM

You canât start ACCA directly since you are neither graduate nor 21 years old

After passing all ACCA exams you will be exempted from module A thru module D. you will have to undergo a training contract of three years with an audit firm. You can attempt module E after 18 months from the date of joining an audit firm.

ACCA and CA are both professional accountancy qualifications but CA has MUCH MORE worth in Pakistan than ACCA.

Unlike for CA, there are no hard training requirements for ACCA (For ACCA qualification alone). You must have a total of three years accounts related experience that you may acquire either before, during or after passing all ACCA exams. Once you pass all the papers and have a three years exp, you are entitled to become a member. i.e use designatory letters ACCA after your name.

And if you choose ICAPâs CA instead then even after your intermediate if you qualify all the exams and fulfill training requirements, you will surely be a CHARTERED ACCOUNTANT.

Hawk24 · 07-30-2009, 02:10 PM

Ok, I understood this, but what I want to know is, That If I am an ACCA and then I also wanted to be a CA I just have to join a training audit firm, but what Am I going to do in that 3 years period, If I am going to make letters and stuff then How can I do that, When I haven't studied A-D modules of CA, and I'm an ACCA would it be difficult for me? actually I want to do CA, but as you know the foundation and inter of CA iss very difficult that's why I choose ACCA as the exemption for CA for A-D modules and then attempt E and F modules including the training program is this a good way?

PIBF · 07-30-2009, 02:33 PM

BEST OPTION FOR YOU IS CA-ICAEW.
ACA-ICAEW NOW IN ISLAMABAD.
PEGASUS INSTITUTE OF BUSINESS & FINANCE

hanifasif · 07-30-2009, 03:40 PM

Its no big deal, many ACCA affiliates complete their training contract with audit firms for doing CA. you can do it too.

Well, no doubt CA modules A thru D are difficult but passing 14 ACCA papers just to get exemptions in the basic CA modules would not be a wise step. No doubt, ACCA exams are easier than those of CA but ACCA professional level exams P1 thru P7 are hard to pass. If doing CA is your ultimate goal than directly start CA. since you scored 840+ marks in your intermediate exams, I assume you would not find it too hard to pass CA papers. (meaning thereby you seem to have the ability to work hard).

If you can study with gusto and with 100% commitment then you must go directly for CA.

Forum members may also give their opinion.

All the best

PIBF · 07-30-2009, 05:51 PM

CA ENGLAND & WALES

hanifasif · 07-30-2009, 06:49 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by PIBF
 CA ENGLAND & WALES
<hr height="1" noshade id="quote"></blockquote id="quote">

by CA I mean CA OF ICAP

Hawk24 · 07-30-2009, 09:05 PM

Hey hanifasif,
Actually my problem is that I'm engaged at this very young age, and I want to get married as soon as possible and get a decent job, I have seen my cousin studying hell out of Accountancy books and his friends as well but still failing it, The thing is that I can't tolerate something like If I do my papers of CA well and they get failed, then I will leave CA because If I get frustrated I wouldn't attempt that thing again. He also got 800 marks, but he failed module B 3 times now. As by doing ACCA I'll get a decent job after completing it, and then with job I can join Audit firm of CA (ICAP) so I think It's the best way. I know you want me to join CA directly, but when you'll realize my problem I know you'll agree with me, anyways, Is there any main difference between a person who has done ACCA and CA both, and a person who has only completed CA from ICAP. My cousin says A person with CA and ACCA both would be prefered when it comes to job than a person with only CA.... your views?
One more question I have seen in this forum in some post that there is not a single person in pakistan having done ACCA and CA both? is that true?
And how much time would take for me to complete CAT(4 papers)+ACCA+CA? thanks.

rabia-k · 07-30-2009, 09:21 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Hawk24
 

And how much time would take for me to complete CAT(4 papers)+ACCA+CA? thanks.
<hr height="1" noshade id="quote"></blockquote id="quote">
if you are hard working and committed to your studies, then you can attempt 4 ACCA papers at each sitting (fundamental level). but i don't think its possible that any one can handle 4 papers at the professional stage unless they are a genius .
usually it takes 3 yrs to complete the ACCA qualification.

rabia-k · 07-30-2009, 09:24 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Hawk24
 Hey hanifasif,
Actually my problem is that I'm engaged at this very young age, and I want to get married as soon as possible and get a decent job, I have seen my cousin studying hell out of Accountancy books and his friends as well but still failing it, The thing is that I can't tolerate something like If I do my papers of CA well and they get failed, then I will leave CA because If I get frustrated I wouldn't attempt that thing again.
<hr height="1" noshade id="quote"></blockquote id="quote">

please dont think that ACCA is a cake walk. if you are hard working you will pass in your first attempt, but if you don't then its not the end of the world!

Odyssee · 07-30-2009, 11:01 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Hawk24
 As by doing ACCA I'll get a decent job after completing it, and then with job I can join Audit firm of CA (ICAP) so I think It's the best way. I know you want me to join CA directly, but when you'll realize my problem I know you'll agree with me, anyways, Is there any main difference between a person who has done ACCA and CA both, and a person who has only completed CA from ICAP. My cousin says A person with CA and ACCA both would be prefered when it comes to job than a person with only CA.... your views?
One more question I have seen in this forum in some post that there is not a single person in pakistan having done ACCA and CA both? is that true?
And how much time would take for me to complete CAT(4 papers)+ACCA+CA? thanks.
<hr height="1" noshade id="quote"></blockquote id="quote">

In your initial post u mentioned that
"i'm planing to do CAT 4 papers and then jump into ACCA directly".
You will have to clear 5 papers of CAT in order to register as an ACCA student.

Do not get confused between JOB and ARTICLESHIP (Practical Training). You will have to do 3 year Articleship after ACCA, if u wish to do CA. The stipend paid by the audit firms during this period, is not enough to support a family. But the experience u will receive is invaluable.

An ACCA Affiliate can find a decent job. But in that case one will not be able to do CA. It is however difficult for an inexperienced individual to get a job very easily. 3 years Training Requirement of ACCA can be fulfilled during a relevant job. You can expect a decent salary but it pretty much depends upon your personal skills and individual qualities.

It is NOT TRUE that a person who is CA and ACCA, will be preferred over a simple CA, in the job market.

I personally know 3 CA's who completed their CA after ACCA(by the way, they are all around 30 years old and none of them is married yet!). And i know dozens of ACCA Affiliates who have claimed exemptions from ICAP and are on their way to become CAs.

Duration
CAT (5 papers) 6 months - 1 year
ACCA 2.5-3 years
CA(after ACCA) including training further 3 years

From an optimistic view it would take a total of 6 years.
From a pessimistic view 7 years - or depends upon how much of a pessimist u wish to be!

Hawk24 · 07-30-2009, 11:11 PM

Ok, I understood this.
Rabia --> You seem to be a very intelligent and the only sense making women around on this forum. ) anyways, I wanted your suggestion, Actually I know ACCA is not something very easy, but If you compare it to CA's modules A-D it's not that hard for me. personally, I am not saying that I am not a hard working student, I am a hard working student but I don't have patience, and in CA you need to be patient, persistant, hopeful. Because if you fail modules even if your papers were good enough and you get them failed, Then I will get frustrated for sure and do something else, So why not go for ACCA?

Odysse --> Sir You eliminated some of my misconceptions, now i want to know If I've finished ACCA And then instead of an ACCA job I want to go for CA's training... can I do that? and am i going to be like other CA's?

Odyssee · 07-30-2009, 11:22 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Hawk24
 
Odysse --> Sir You eliminated some of my misconceptions, now i want to know If I've finished ACCA And then instead of an ACCA job I want to go for CA's training... can I do that? and am i going to be like other CA's?
<hr height="1" noshade id="quote"></blockquote id="quote">

Ofcourse, u can start with CA training right after clearing papers of ACCA. The training requirement of ACCA and CA can be thus fulfilled simultaneously. You will only have to claim exemptions from ICAP after becoming an ACCA Affiliate. And u'll be just like any other CA after clearing Module E & F ( a total of 8 papers) of ICAP.

rabia-k · 07-31-2009, 12:49 AM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Hawk24
 Ok, I understood this.
Rabia --> You seem to be a very intelligent and the only sense making women around on this forum. ) anyways, I wanted your suggestion, Actually I know ACCA is not something very easy, but If you compare it to CA's modules A-D it's not that hard for me. personally, I am not saying that I am not a hard working student, I am a hard working student but I don't have patience, and in CA you need to be patient, persistant, hopeful. Because if you fail modules even if your papers were good enough and you get them failed, Then I will get frustrated for sure and do something else, So why not go for ACCA?

<hr height="1" noshade id="quote"></blockquote id="quote">
if you feel ACCA is not difficult for you to pass, then go ahead with it. you can then do your CA after completing your ACCA papers.
if you lack patience, please read some good books on "how to develop patience". you will have to learn to be patient. (especially if you end up with a bully boss [D][D])

Hawk24 · 07-31-2009, 02:17 AM

patience is actually not the thing I refuse to, but I take my decisions on my own judgements, by judging the situation around myself, after seeing my cousins relatives attempting to do CA directly, I realize that I will fail one or two modules atleast ONCE. Then by estimating the time I come to the conclusion that i'll do A-D modules of CA in about 4 years, And that's how much time one can complete ACCA with CAT even if he fails a few papers, So I think It's an ultimate solution for those students who find CA's starting module to be different. though you'll have to give more money in aCCA then CA's starting modules, but If I give 85000 per semester in Bahria university for electrical engineering, Then why not give approximately 30000 for ACCA? which is thousand times better than Engineering...