09-12-2008, 05:42 AM
<blockquote id="quote"><font size="1" face="Verdana, Tahoma, Arial" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Toronto_Boy</i>
<br />Bilal
I am jumping into the discussion as I think I can add a very valid point here. It would be important to you as well as other students. First I just wanna say that I am not against Pakistani CA or CMA designations, but the the point is a student should also see future aspects of designation from working in foreign countries point of view or for immigration purposes. Though Pakistani designations are very well respected in back home but in Canada, UK, USA, or Australlia these designations do not provide much benefits/exemptions. Though with pakistani designations, a person can get immigration to a western country, but chances to get a good job are really bleak as each country accepts its designations, atleast this is true in Canada.
On the other hand, ACCA has mutual recognition agreement (MRA) with CGA (one of 3 Canadian designations) as well as CPA (Australlia). It means if a student in Pakistan gets ACCA then he/she can very easily (infact with negligible efforts) get Canadian CGA or Australlian CPA. So that student can get immigration to Canada or Australlia. And I tell you that if a person enters into Canada or Australlia with CGA or CPA (which are their own designations), would not find difficulty in these countries in finding jobs. I have seen many Pakistani CAs and CMAs, with very good accounting experiences, struggling in finding even low paying jobs in Canada and eventually applying for exemptions for Canadian designations and then studying again for years to get Canadian designations or working for US CPA/ CMA. With their families, full time work and age, people find very difficult to take expensive courses and fulfill required experience. So it becomes hard to finish designation in new country. It takes years of endurance and commitment. So prospective students in Pakistan should plan ahead. In my view, if a person in Pakistan can afford to do ACCA and wants to move to EU, Australlia, Canada, and eventually to USA, should do ACCA. Its also an indirect way to move to USA (in long run) and so many Pakistani, Indians, Chinese and other nationals opt this way. With ACCA, get Canadian immigration and citizenship in 4 years (3 plus 1 year waiting for oath), get Canadian CGA through MRA with ACCA, get a good job and Canadian experience, and after 4 years move to USA. During these 4 years one can get US CPA or CMA (IMA), or even without US CPA or CMA, just get a job in USA and move after 4 years based on Canadian experience and designation. Canadian designations are legally acceptable to get a job and TN visa in USA. I have seen designated accountants from asian countries including Pakistan who worked in Middle East and due to several reasons eventually moved to Canada, found diffilties in finding jobs here. What is the benefit if a student spend money, time and endless efforts in getting Pakistani designations and 10 years down the road realizes to immigrate to western countries, starts studies again at the age of 40 in new country. Rather than this way, save time, efforts, and money, do ACCA in Pakistan, get new country's designation through mutual recognition agreement (MRA), get immigration and citizenship, and get a job. Even that student can complete remaining courses of ACCA in new country if he/she moves before completing ACCA as ACCA courses can be taken in any country including Canada, Australlia, USA, and Middle East, and then get new country's designation using MRA.
Moreover, remember Pakistani CA or CMA results are highly market demand related. See how many members they have as of today, which means only limited number of fortunate people could successfully finish Pakistani CA or CMA. All others only did articleship or some papers or levels. What is the benefit if a student with all necessary efforts does not pass or doesn't get certificate or charter. I am quite sure many of the students of Pakistani CA or CMA are quite capable of completing ACCA, CMA (IMA), or CFA, as even with low passing rates, these designations usually do not fail a student just to restrict market supply of graduates.
NO doubt, CFA is really a global designation, without a competitor, acceptable and respected everywhere in the world, but different from accounting, and comparatively more difficult than other global accounting designations.
Again, let me say that this is just my opinion based on years of experience and what I saw here. It is for those students who wanna go to western countries and get a good job and experience quickly. So they can plan ahead. I don't mean to disrespect Pakistani designations or to start totally unnecessary debate of comparing designations. I am neither ACCA nor studying for it. My intention is just to show some options to interested people who wanna come abroad and get a good job and experience. So please don't get the wrong message.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
An in depth analysis! I admire your objective analysis of the facts. I come to this site whenever I have an important decision to make about my career, and people like you and Mr. DT are always available to help me out and show the right path.
I agree with your analysis and thats the reason I started this topic, because Im planning ahead and want to work for some years (if not settling down) in the UK. I will like to add that now CA (ICAP) is recognized by ICAEW and only three papers are to be given alongwith articleship of 1 year to achieve the qualification of an ACA (ICAEW).
It is becoming clearer and clearer that I should opt for ACCA now (Ill be exempted from couple of papers as ill be CA-Inter qualified in a couple of months, Insha Allah) and when im CA qualified, ill claim the exemptions and give ICAEW examinations.
Am I heading in the right direction according to your opinion (mr. DT and Toronto)?
<br />Bilal
I am jumping into the discussion as I think I can add a very valid point here. It would be important to you as well as other students. First I just wanna say that I am not against Pakistani CA or CMA designations, but the the point is a student should also see future aspects of designation from working in foreign countries point of view or for immigration purposes. Though Pakistani designations are very well respected in back home but in Canada, UK, USA, or Australlia these designations do not provide much benefits/exemptions. Though with pakistani designations, a person can get immigration to a western country, but chances to get a good job are really bleak as each country accepts its designations, atleast this is true in Canada.
On the other hand, ACCA has mutual recognition agreement (MRA) with CGA (one of 3 Canadian designations) as well as CPA (Australlia). It means if a student in Pakistan gets ACCA then he/she can very easily (infact with negligible efforts) get Canadian CGA or Australlian CPA. So that student can get immigration to Canada or Australlia. And I tell you that if a person enters into Canada or Australlia with CGA or CPA (which are their own designations), would not find difficulty in these countries in finding jobs. I have seen many Pakistani CAs and CMAs, with very good accounting experiences, struggling in finding even low paying jobs in Canada and eventually applying for exemptions for Canadian designations and then studying again for years to get Canadian designations or working for US CPA/ CMA. With their families, full time work and age, people find very difficult to take expensive courses and fulfill required experience. So it becomes hard to finish designation in new country. It takes years of endurance and commitment. So prospective students in Pakistan should plan ahead. In my view, if a person in Pakistan can afford to do ACCA and wants to move to EU, Australlia, Canada, and eventually to USA, should do ACCA. Its also an indirect way to move to USA (in long run) and so many Pakistani, Indians, Chinese and other nationals opt this way. With ACCA, get Canadian immigration and citizenship in 4 years (3 plus 1 year waiting for oath), get Canadian CGA through MRA with ACCA, get a good job and Canadian experience, and after 4 years move to USA. During these 4 years one can get US CPA or CMA (IMA), or even without US CPA or CMA, just get a job in USA and move after 4 years based on Canadian experience and designation. Canadian designations are legally acceptable to get a job and TN visa in USA. I have seen designated accountants from asian countries including Pakistan who worked in Middle East and due to several reasons eventually moved to Canada, found diffilties in finding jobs here. What is the benefit if a student spend money, time and endless efforts in getting Pakistani designations and 10 years down the road realizes to immigrate to western countries, starts studies again at the age of 40 in new country. Rather than this way, save time, efforts, and money, do ACCA in Pakistan, get new country's designation through mutual recognition agreement (MRA), get immigration and citizenship, and get a job. Even that student can complete remaining courses of ACCA in new country if he/she moves before completing ACCA as ACCA courses can be taken in any country including Canada, Australlia, USA, and Middle East, and then get new country's designation using MRA.
Moreover, remember Pakistani CA or CMA results are highly market demand related. See how many members they have as of today, which means only limited number of fortunate people could successfully finish Pakistani CA or CMA. All others only did articleship or some papers or levels. What is the benefit if a student with all necessary efforts does not pass or doesn't get certificate or charter. I am quite sure many of the students of Pakistani CA or CMA are quite capable of completing ACCA, CMA (IMA), or CFA, as even with low passing rates, these designations usually do not fail a student just to restrict market supply of graduates.
NO doubt, CFA is really a global designation, without a competitor, acceptable and respected everywhere in the world, but different from accounting, and comparatively more difficult than other global accounting designations.
Again, let me say that this is just my opinion based on years of experience and what I saw here. It is for those students who wanna go to western countries and get a good job and experience quickly. So they can plan ahead. I don't mean to disrespect Pakistani designations or to start totally unnecessary debate of comparing designations. I am neither ACCA nor studying for it. My intention is just to show some options to interested people who wanna come abroad and get a good job and experience. So please don't get the wrong message.
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
An in depth analysis! I admire your objective analysis of the facts. I come to this site whenever I have an important decision to make about my career, and people like you and Mr. DT are always available to help me out and show the right path.
I agree with your analysis and thats the reason I started this topic, because Im planning ahead and want to work for some years (if not settling down) in the UK. I will like to add that now CA (ICAP) is recognized by ICAEW and only three papers are to be given alongwith articleship of 1 year to achieve the qualification of an ACA (ICAEW).
It is becoming clearer and clearer that I should opt for ACCA now (Ill be exempted from couple of papers as ill be CA-Inter qualified in a couple of months, Insha Allah) and when im CA qualified, ill claim the exemptions and give ICAEW examinations.
Am I heading in the right direction according to your opinion (mr. DT and Toronto)?
