Seniors advice on current market situation

lonewolf · 02-23-2010, 01:22 AM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Ali.M
 Yaar but kitni small firm??
The firm which audits and compiles accounts of sole proprietor and partnership firms?

There would be no exposure yaar... And after being qualified would employer of a public company would hire me?? obviously not yar because market has lots of option available ACCA,CIMA,ICMA,CPA,CIA etc bunch of qualification and all these people are shifting towards internship from Big firms... I am worried that in future the demand of CA's would fall.

Do your firm have listed clients?
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It has only 2 listed clients as i told you it is a small firm..Yar something is better than nothing.If the big or mid tier firms dont recruit us then what option do we have other than working in a small firm.i understand your point that in future i may face difficulties in job search due to low prestige of firm but Majburi ha yar it was the last thing that i could do.anyhow best of luck to you in your search for a place in some big firm.

Ali.M · 02-23-2010, 01:30 AM

Thank you lonewolf for motivating.
Do your firm falls under SBP panel of auditors Annexure-A?
If yes then which category?

Boss · 02-23-2010, 05:36 PM

Situation will be even worsen in future, the only thing which ICAP should consider in the current situation is to restrict induction of ACCAs and others in CA firms.

padphoosilimdakar · 02-23-2010, 06:16 PM

Ali Allah aap ko kisi achi firm main jaga ata farmaye.Magar abhi choti firm join ker lo agar kahin jaga nahin milti to.

padphoosilimdakar · 02-23-2010, 06:20 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Boss
 Situation will be even worsen in future, the only thing which ICAP should consider in the current situation is to restrict induction of ACCAs and others in CA firms.
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boss kitny buzdili ki bat ki hai.Agar icap wale apne mulk main acca say muqabla nahi ker sakty to bahir kia karen gay.Compete kerna sikho bhi jan.

Boss · 02-23-2010, 06:22 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by padphoosilimdakar
 Ali Allah aap ko kisi achi firm main jaga ata farmaye.Magar abhi choti firm join ker lo agar kahin jaga nahin milti to.
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This is good advice, i think it does not matter if you are inducted in small firm and it will be better to be inducted in small firm than never.
Probably, future may create even difficult time, that to be inducted in even small firm become a dream.

Boss · 02-23-2010, 06:41 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by padphoosilimdakar
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Boss
 Situation will be even worsen in future, the only thing which ICAP should consider in the current situation is to restrict induction of ACCAs and others in CA firms.
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boss kitny buzdili ki bat ki hai.Agar icap wale apne mulk main acca say muqabla nahi ker sakty to bahir kia karen gay.Compete kerna sikho bhi jan.
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Where i said "Buzdili"?
I said and i have no doubt/regret in it. CA firms should only consider CA Inter, for whom, articles are mandatory.

They should only induct ACCA when there is no CA remaining to be inducted.

Dard · 02-23-2010, 07:36 PM

It's not ACCA students' fault that C.A students have a compulsory training period. Why ruin ACCA students lives by not inducting them? If C.A students have the competency, they would surely be inducted by the firms. Firms need talented, knowledgeable and technically sound internees, be it C.A or ACCA students. If students study hard to the required level, there is high chance they would be first attempters, thus increasing their chances for induction in firms

Dard · 02-23-2010, 07:43 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Boss
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by padphoosilimdakar
 <blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Boss
 Situation will be even worsen in future, the only thing which ICAP should consider in the current situation is to restrict induction of ACCAs and others in CA firms.
<hr height="1" noshade id="quote"></blockquote id="quote">
boss kitny buzdili ki bat ki hai.Agar icap wale apne mulk main acca say muqabla nahi ker sakty to bahir kia karen gay.Compete kerna sikho bhi jan.
<hr height="1" noshade id="quote"></blockquote id="quote">

Where i said "Buzdili"?
I said and i have no doubt/regret in it. CA firms should only consider CA Inter, for whom, articles are mandatory.

They should only induct ACCA when there is no CA remaining to be inducted.
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That would be unfair in certain circumstances. If all C.A inters are inducted first, that would mean everyone(including less technically sound, less passionate PpL etc) gets a chance in the expense of some ACCA affiliates who may have more individual attributes than the rest

Boss · 02-23-2010, 07:45 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Dard
 It's not ACCA students' fault that C.A students have a compulsory training period. Why ruin ACCA students lives by not inducting them? If C.A students have the competency, they would surely be inducted by the firms. Firms need talented, knowledgeable and technically sound internees, be it C.A or ACCA students. If students study hard to the required level, there is high chance they would be first attempters, thus increasing their chances for induction in firms
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Dear,
I did not say that it is ACCA students' fault rather i meant that this is ICAP's fault that firms allow ACCA par with CA Inter.

Firms may need talented internees, but it does not mean that firms are independent in decision making, they have to comply with what ICAP advices, If ICAP puts restriction on ACCA's students induction then it would be easier for CA students to be induced in firms, i no where said that ACCA should not be inducted rather they should be, subject to the availability after inducting CA-Inter.

Ali.M · 02-23-2010, 08:30 PM

All factors must be taken into account to consider a talented student.
There is a firm who takes into account a person's matriculation and HSC intermediate result which in my opinion are irrelevant to consider because if someone didn't showed his potentials in past doesn't means that he is not talented, best example to explain is the example of Albert Einstein, who was consider as the most weak student in class but now people called him genius of 21st century.

Well my point is that firm should give an equal opportunity of getting selected in the firm because in CA examination we are already being filtered by ICAP.

Atleast a firm should call a candidate to depict his/her skills.

Candidate including CA, ACCA, CIMA, ICMA and other professions.

padphoosilimdakar · 02-23-2010, 09:27 PM

<blockquote id="quote">quote<hr height="1" noshade id="quote">Originally posted by Ali.M
 All factors must be taken into account to consider a talented student.
There is a firm who takes into account a person's matriculation and HSC intermediate result which in my opinion are irrelevant to consider because if someone didn't showed his potentials in past doesn't means that he is not talented, best example to explain is the example of Albert Einstein, who was consider as the most weak student in class but now people called him genius of 21st century.

Well my point is that firm should give an equal opportunity of getting selected in the firm because in CA examination we are already being filtered by ICAP.

Atleast a firm should call a candidate to depict his/her skills.

Candidate including CA, ACCA, CIMA, ICMA and other professions.
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ur post's last line is the actual bottomline.Everybody must have equal oppurtunity.

kamranACA · 02-23-2010, 11:18 PM

Dears

Induction of students and employees and trainees etc is not something to be governed by ICAP as far as choice is concerned. I said earlier that it is a commercialized activity.

Yes, if CA students have to be inducted, then ICAP has regulations and by-laws about how to do it. Here ICAP is in a way favoring students of other designations as it has put restrictive limit of per partner students (CA) to be trained by a firm whereas firms are not obliged to follow any such limit in case of non CA trainees. Firms are obliged to pay minimum prescribed stipends to CA students which condition does not exist in other cases. So largely for commercial reasons other students are inducted at lower stipends. There are strict regulations and conditions and code of conduct for CA students training but nothing is there is case of other students.

So intaking other students is easier, cheaper and carries lesser restrictive or regulatory conditions. That's why I believe there is not a perfect competition.

Situation gets deteriorated when NON-CA trainees are inducted for "commercial" reasons on lower stipend etc. and CA students get ignored.

In my view "perfect" competition should not be affected but it should be a real balanced competition. It will be reached when

- ACCA chapter will be active enough to initiate a process of registring the training contracts of students with firms for predetermined period with an option of inter-firms tranfsers through NOC.

- ICAP and ACCA chapter should jointly bring stipends of firms for ACCA trainees at par with CA students on the basis of predetermined thresh-holds.such thresh-hold may treat ACCA affiliate equal to CA Inter or otherwise but should be in black and white. I believe ACCA chapter is not yet doing this for its students.

- there must be written and agreed terms of reference or training regulations for the training of ACCA students and firms should be obliged to get registered as Training Organization for ACCA students.

- rights and duties and codes of conduct for non CA trainees should also be explicit.

- exactly like CA students, firms should be placed with restrictive limit of per partner trainees of other designations as well. And this should be done jointly by ACCA, ICAP or any other designation provider and ICAP.

Once these basics will be achieved along with other necessary things, then we may call that a competition exists. Let me tell you that currently ACCAs and others are not being preferred over CA students for qualitative reasons. Of course this affects CA students who are in fact the primary input for this country' economy.

I agree we need a perfect and balanced competition and students entry should be made on qualitative basis.

Regards,

Kamran.

shani420 · 02-24-2010, 12:17 AM

Nice post by kamranaca.I wish it happens in Pakistan(although seems unlikely in near future).It will benefit both ACCAs and CA(inter).Only the fittest would survive.May merit flourish and prevail in Pakistan.

shani420 · 02-24-2010, 12:26 AM

Dear ali,
as u r from 11 MFC , I think u should join any firm willing to hire u.Concentrate on E mod.U can change ur firm if u find a suitable offer later on(noc dependent).Nobody can see the future.Kia pata ALLAH nay aap ki rozee aap ki soch say bhi zyada likhi ho.