collections of ideas on CPA, ACCA, ICAEW, CAT, ACA
CPA vs ACCA vs …..
CPA vs ACCA vs …..
1. To qualify as a CPA Australia, you only need to take 5 papers, if you're an accounting graduate from Australia. Questions are all objectives, 4 choices. I heard they have introduced some short Q&A in its format recently. Open book concept, meaning you get to refer to your materials during exam.
To qualify as an ACCA, there is a total of 14 papers to take. Less 4-8 exemptions for accounting graduates. All essay or computation questions, no objectives. No study materials allowed.
To qualify as an ACCA, there is a total of 14 papers to take. Less 4-8 exemptions for accounting graduates. All essay or computation questions, no objectives. No study materials allowed.
2. I am an AAC qualified 3 years now. basically there are three main practice options. ICAI, ACCA and CPA. there may be some other options but i will not mention them at this stage. Both the ICAI and CPA are exclusivley Irish while the ACCA is a global "brand" with an office in Dublin. As the ICAI and CPA are exclusivley Irish they offer a better service to Irish students. With ACCA you get your annual subscription in sterling and there are some matters that the dublin office cant deal with and you are then reffered to Glasgow which can be tedious.
In terms of the qualification been recognised there definatley is a perception in the marketplace that the CPA qualification is at the bottom of the scale. Even though in my opinion any CPA accountant i know is as good as any other and a lot depends on the person rather than the qualification. while studying for the ACCA i looked at the CPA exams and they did appear a lot easier, i dont know if they have changed over the years.
Best of luck with whatever you decide. It may be worth consulting a careers counsellor in your school/college or the ACCA or CPA direct.
In terms of the qualification been recognised there definatley is a perception in the marketplace that the CPA qualification is at the bottom of the scale. Even though in my opinion any CPA accountant i know is as good as any other and a lot depends on the person rather than the qualification. while studying for the ACCA i looked at the CPA exams and they did appear a lot easier, i dont know if they have changed over the years.
Best of luck with whatever you decide. It may be worth consulting a careers counsellor in your school/college or the ACCA or CPA direct.
3. Everyone, thanks for your comments - just discovered that the CPA qualification is recognised across Europe - not just in Ireland. The directive mentioned below has been updated within the past 2 years...
'The CPA qualification is recognised as equivalent to those of other statutory bodies in the EU and the qualification is included in the EC Directive on the recognition of professional qualifications - the Mutual Recognition Directive (89/48/EEC).'
'The CPA qualification is recognised as equivalent to those of other statutory bodies in the EU and the qualification is included in the EC Directive on the recognition of professional qualifications - the Mutual Recognition Directive (89/48/EEC).'
4. ACCA has members, affiliates and students in 170 countires arround the world and it is the leading professional accountancy body in these countires.
The Association of Chartered Certified Accountants (ACCA) is a British chartered accountancy body with a global presence that offers the Chartered Certified Accountant (Designatory letters ACCA or FCCA) qualification worldwide. It is one of the world's largest and fastest-growing accountancy bodies with 122,426 members and 325,606 affiliates and students in 170 countries. The Institute's headquarters are in London with the principal administrative office being based in Glasgow. In addition the ACCA has a network of nearly 80 staffed offices and other centres around the world. "WIKIPEDIA"
ACCA's syllabus formed the basis of the United Nations' global accountancy curriculum titled Guideline on National Requirements for the Qualification of Professional Accountants published in 1999. ACCA was a participant in the consultative group, which devised this global Benchmark, and reference to ACCA's role is included throughout the publication. "WIKIPEDIA"
The Association of Chartered Certified Accountants (ACCA) is a British chartered accountancy body with a global presence that offers the Chartered Certified Accountant (Designatory letters ACCA or FCCA) qualification worldwide. It is one of the world's largest and fastest-growing accountancy bodies with 122,426 members and 325,606 affiliates and students in 170 countries. The Institute's headquarters are in London with the principal administrative office being based in Glasgow. In addition the ACCA has a network of nearly 80 staffed offices and other centres around the world. "WIKIPEDIA"
ACCA's syllabus formed the basis of the United Nations' global accountancy curriculum titled Guideline on National Requirements for the Qualification of Professional Accountants published in 1999. ACCA was a participant in the consultative group, which devised this global Benchmark, and reference to ACCA's role is included throughout the publication. "WIKIPEDIA"
5. CPA exams are much more difficult than ACCA exams.
Also do not forget that passing grade is 75 for CPA and 50 for ACCA. On CPA exams you are trying to be excellent, however on ACCA exams if you are average guy in the subject you will pass.
Also do not forget that passing grade is 75 for CPA and 50 for ACCA. On CPA exams you are trying to be excellent, however on ACCA exams if you are average guy in the subject you will pass.
CAT vs ACCA
6. CAT is actually the foundation of ACCA.
finish ur CAT and u will get exemption for 3 papers of ACCA
YES u can go directly to ACCA if before this u had completed any of the foudations programme(A-lvls, form 6, etc)
finish ur CAT and u will get exemption for 3 papers of ACCA
YES u can go directly to ACCA if before this u had completed any of the foudations programme(A-lvls, form 6, etc)
7. if you are serious in getting into ACCA and takes up accounting as your career, i suggest that you should try out the CAT papers first, from T1 to T5. then only you would know the standards and requirement for accounting courses.
CAT should build up your foundation for ACCA Fundamental levels (F1 to F9).
CAT should build up your foundation for ACCA Fundamental levels (F1 to F9).
8. well, yes. generally ICAEW (ACA) is better regarded than ACCA in many countries. If you want to put it that way, yes, ICAEW can be considered as a phd, although this isn't a fair comparison. ICAEW takes 2-3 years, i was told. It takes about 5-6 years to get ICAEW, assuming 3-4 years degree, 2-3 years ICAEW.
9. ICAEW is definitely more prestigious due to the fact that the number of students who passed isn't high at all. This is due to the fact that the difficulty in ICAEW is much higher compared to ACCA. I was told by a person that an exam paper's questions were sooo long, that you get lost and have no direction in starting the question. And by long I mean a few pages just for a question. That might indicate that ICAEW's syllabus is on a deeper degree.
If you take notice, most Executive Directors and Partners of the Big Four are ICAEW qualified. Come out with ICAEW qualification, and you'll have a glittering career ahead of you. At least from what I see..even in the UK.
If you take notice, most Executive Directors and Partners of the Big Four are ICAEW qualified. Come out with ICAEW qualification, and you'll have a glittering career ahead of you. At least from what I see..even in the UK.
10. It takes you 3 years to finish ACCA provided if you pass every paper with minimum 3 papers each sitting,from CAT to part 3. You need 6 years working experience in order for you to take ICAEW,not sure how the 6 years is counted. It's prestigious in the sense that........it's just simply the papers are much difficult than ACCA.
But one of my lecturer and my aunty(who's a high ranked officer in a big co.) says that you don't really need to go to deep in your profession unless you wanna become some director or something.
You can diversify a bit,like taking MBA after your ACCA or such.
But one of my lecturer and my aunty(who's a high ranked officer in a big co.) says that you don't really need to go to deep in your profession unless you wanna become some director or something.
You can diversify a bit,like taking MBA after your ACCA or such.
11. The main difference about ICAEW or ICA NZ or ICA Aust or CPA Aust or CPA US is that they require all members to have a degree in accountancy before you can even take their exams.
ACCA, CIMA, MICPA etc do not. That is the main difference and this is recognised by the market, be it accounting firms or MNCs (especially MNCs).
So, no, it's not a PHD and ACCA is definitely not a masters. Although some unis accept prof qualifications for entry into post-graduate studies, the fact remains that these are professional qualifications and not tertiary degrees. Just happens that one needs you to have a recognised degree first before getting the professional qualification, while the other picks up SPM/STPM leavers.
ACCA, CIMA, MICPA etc do not. That is the main difference and this is recognised by the market, be it accounting firms or MNCs (especially MNCs).
So, no, it's not a PHD and ACCA is definitely not a masters. Although some unis accept prof qualifications for entry into post-graduate studies, the fact remains that these are professional qualifications and not tertiary degrees. Just happens that one needs you to have a recognised degree first before getting the professional qualification, while the other picks up SPM/STPM leavers.
12. 1) A CAT is just a professional qualification. It is different from a Diploma in terms of duration and in terms of qualification. A Diploma is an academic qualification and also allows for more exemptions in ACCA because CAT will only get 3 paper exemptions.
2) The Oxford Brookes University degree enables you to have an academic qualification instead of just a professional qualification. This will help you in applying for further education/programmes which require degree qualifications.
2) The Oxford Brookes University degree enables you to have an academic qualification instead of just a professional qualification. This will help you in applying for further education/programmes which require degree qualifications.
However ACCA is a professional qualification and those who are ACCA members are qualified accountants unlike CAT holders who, although will be experienced and have some technical knowhow, will not have the detailed level of understanding that is involved through studying ACCA.
CAT holders should be able to compile balance sheets and P&L's from trial balances, as well as explain/implement the more basic accounting standards, and also be familiar with costing and basic management accounting.
ACCA builds on this and involves much more detailed technical knowledge, application of standards and the more tricky areas of accounting such as forwards contracts, financial instruments etc.
14. Here is very modest variation linking the two qualifications, they are just sponsored by uncommon accounting bodies. ACCA sponsor CAT and the rest of the professional accounting bodies (in the UK) sponsor AAT. ACCA used to sponsor AAT in anticipation of they resolute on their own accounting technician qualification, but you may find it better to study CAT rather than AAT as it is more likely to be recognizable in Pakistan.
15. CIMA = chartered institue of management accountants
ACCA = accociate chartered certified acccountant
ICAMP = institute of cost and management accountants of pakistan
CA = chartered accountancy (offered by ICAP in pakistan)
CIMA ACCA both r UK based
ACMA (accociate cost and management accountant) is a certificate that one can get after compeleting ICMAP. then after gaining an xpirience of 5 or 10 years(not sure) one known as FCMA (FELLOW cost and management accountant)
ACCA = accociate chartered certified acccountant
ICAMP = institute of cost and management accountants of pakistan
CA = chartered accountancy (offered by ICAP in pakistan)
CIMA ACCA both r UK based
ACMA (accociate cost and management accountant) is a certificate that one can get after compeleting ICMAP. then after gaining an xpirience of 5 or 10 years(not sure) one known as FCMA (FELLOW cost and management accountant)
16. acca is a better option, and if u dont have the back ground of acounting then you can first go for CAT and then start with accca,
There are 2 accounting technician type courses in Ireland. IATA run by the Institute of Chartered Accountants and CAT (Certified Accounting Technician) run by the ACCA http://www.accaglobal.com/students/study_exams/ . CAT requires 1 years experience and at the end of the course you will be a very competent bookkeeper. The exams are easier than the main ACCA and will give you exemption from some of the main ACCA exams. So if you found that you like it, it is easy to continue on to the main ACCA exams. Finish the foundation level of ACCA and you get an honours degree and finish the finals and you get to be a fully qualified accountant. With this route you get good intermediate qualifications all along the way, so even if you don’t make it to the end so have something. You can home study or class room study CAT all over the country.
18. CHANGES TO THE CAT QUALIFICATION WITH THE LAUNCH OF
FOUNDATIONS IN ACCOUNTANCY: INTRODUCTORY AND
INTERMEDIATE CERTIFICATES IN FINANCIAL AND MANAGEMENT
ACCOUNTING
With effect from December 2011, new exams in Foundations in
Accountancy, leading to a range of new certificates, will be launched.
The first two levels, previously known as the CAT Introductory and CAT
Intermediate levels, will now lead to two ACCA certificates:
• Introductory Certificate in Financial and Management Accounting
• Intermediate Certificate in Financial and Management Accounting.
