ACCA/CPA

[william_liu]

Thanks misterbean, I've went to the FTC website, they are definitely clearer and provides more details.

 

I guess I'll make a trip to their office this Saturday to find out more. (And perhaps enroll...)

 

Thanks to you again, otherwise I'll still be looking for an alternative to SAA.....

[misterbean]

Originally posted by william_liu@Jun 1 2005, 10:47 AM

I guess I'll make a trip to their office this Saturday to find out more. (And perhaps enroll...)

 

Welcome to ACCA

[Zandon]

Originally posted by william_liu@Jun 1 2005, 09:53 AM

Hey man, can you let me know the details on how much you paid in all? Can PM me if it's not convenient to post out, thanks a lot!

paid for 1.1 and 1.2 only, (285*2) + reg fee 120 = 690

another 57 pound for uk side, but wun deduct immediately

so total abt 800+

[CMYRS]

Originally posted by misterbean@May 31 2005, 10:45 PM

So it is not exactly right to say one is more recognised than the other. Both are equally prestigious and sought after.

 

 

I believe there are only 2 kinds of CPA in S'pore.

One is CPA, the other is CPA Australia.

CPA caters more for the locals

While CPA applies for Aussie grads.

 

CPA requires basically attendance of a 5 day seminar and siting for an exam at the end and you get a letter saying ure a CPA.

Cost is about $550

Work experience required though its a combined 3yrs of work. A change in co. does not affect duration as long as it adds up to 3yrs.

 

 

CPA Australia currently requires 7 modules and at least 3yrs work experience.

Each module cost about $700.

The 3yr experience requires you to stay in one co. through out.

If you switch companies, you must be there for at least another 12mths, eg, if you have been in one co. for 2yrs 3mths, and you quit, you need to be in the other co. for at least another 12mths to qualify for 3years.

 

This all leads to the difference in recognition.

Colleagues who have been in the industry for 30yrs can tell you one is more recognised then the other.

Some of them have been to the States and parts of Europe for interviews and Financial controllers who interview them have not heard of ACCA.

 

Those who have taken CPA locally will tell you its a joke.

People turn up mainly for the buffet lunch and tea than for the seminar.

Year after year, there continues to mistakes in the exam papers that students have to point out to examiners.

 

I believe ACCA is recognised locally, eg.Msia, Spore.

But if ure looking at working internationally, go for CPA Aust.

Even if you are working overseas while studying for your CPA, they will organise the exam for you in the country you are in.

 

My god mum who has her auditing firm of nearly 30 years have employed people with both types of qualification, have also seen the difference in work attitude and approach to being proactive in looking for solutions to issues.

 

Well, I would say do your research, know what you want and speak to alot of people with different qualifications and see what they say.

 

You will see the light at the end of the day.

[william_liu]

Originally posted by CMYRS@Jun 1 2005, 02:15 PM

CPA Australia currently requires 7 modules and at least 3yrs work experience.

Each module cost about $700.

The 3yr experience requires you to stay in one co. through out.

If you switch companies, you must be there for at least another 12mths, eg, if you have been in one co. for 2yrs 3mths, and you quit, you need to be in the other co. for at least another 12mths to qualify for 3years.

 

Hi friend,

 

May I know which organisation is offering this? Of course, I would like to keep my options open 1st and talk and learn more on both.

 

[william_liu]

Ok, I've just called up CPA Australia's office in Singapore..... Basically, for people like me without any Accounting degrees that is accredited with CPA Australia, I have to get one before I can enroll.

 

Which means I have to spend another 2 year to get a degree in Accounting, then I can enroll in their Mentor program. Once you enroll, you got to pass 6 modules/subjects within 5 years. And starting from when you sign-up, you need 3 years of working experience.

 

So right now, it will take a minimum of 5 years for me to become a CPA Australia member..... kinda rules it out for me...

 

 

Serves me right for not taking accountancy earlier.... It was my 2nd choice in Poly...

 

[misterbean]

Originally posted by CMYRS@Jun 1 2005, 02:15 PM

Well, I would say do your research, know what you want and speak to alot of people with different qualifications and see what they say.

 

You will see the light at the end of the day.

Personally, I do not wish to start a debate here on which accountancy body is more recognised worldwide. I respect each professional body and will not bad mouth the other based on hearsay.

 

What I can say from personal experience is that ACCA is recognised and there are Partners from the international big 4 accounting firms whose career was founded upon an ACCA qualification. I did my research and it was done in some of these firms, with colleagues from local and abroad. PricewaterhouseCoopers and KPMG do not have any problems recognising the ACCA qualifications, maybe your aunt has higher standards?

 

There is enough light to go round so no need to cast a shadow over other professional qualifications, ya? Sweeping comments doesn't speak well of one's professionalism ...

[pq]

Hard to find ACCA biker, nice to see you here

 

I've completed ACCA in 1997. Took part time and complete in 5 years. I think misterbean has covered almost all you need to know about ACCA. Just want to voice my thought.

 

Level 1 & 2 - It's ok to study at any institute

Level 3 - Must study at FTMS. The UK lecturers will guide you to focus and do the right thing to pass.

 

If you have lots of money/sponsor - Don't take up ACCA, it's hell and passing rates is extremely low (

 

If you think 5 year to achieve CPA is too long for you, you can try ACCA. Some smart guy can clear within 2 years, but some can never pass for the rest of their life. In SIM or other degree course, I guess 90% would be potential graduate at the time they just sign up.

 

 

[misterbean]

Originally posted by pq@Jun 1 2005, 04:11 PM

Hard to find ACCA biker, nice to see you here

 

I've completed ACCA in 1997. Took part time and complete in 5 years. I think misterbean has covered almost all you need to know about ACCA. Just want to voice my thought.

 

Level 1 & 2 - It's ok to study at any institute

Level 3 - Must study at FTMS. The UK lecturers will guide you to focus and do the right thing to pass.

Hello, nice to know fellow ACCA biker too

 

Agree, the FTMS lecturers are really good ... esp Fred Keer

[CMYRS]

Originally posted by william_liu@Jun 1 2005, 03:45 PM

Ok, I've just called up CPA Australia's office in Singapore..... Basically, for people like me without any Accounting degrees that is accredited with CPA Australia, I have to get one before I can enroll.

 

Which means I have to spend another 2 year to get a degree in Accounting, then I can enroll in their Mentor program. Once you enroll, you got to pass 6 modules/subjects within 5 years. And starting from when you sign-up, you need 3 years of working experience.

 

So right now, it will take a minimum of 5 years for me to become a CPA Australia member..... kinda rules it out for me...

 

 

Serves me right for not taking accountancy earlier.... It was my 2nd choice in Poly...

 

Yes, these details sound correct!

I believe they are looking at increasing the no. of modules though.

[CMYRS]

Originally posted by misterbean@Jun 1 2005, 04:04 PM

Personally, I do not wish to start a debate here on which accountancy body is more recognised worldwide. I respect each professional body and will not bad mouth the other based on hearsay.

 

What I can say from personal experience is that ACCA is recognised and there are Partners from the international big 4 accounting firms whose career was founded upon an ACCA qualification. I did my research and it was done in some of these firms, with colleagues from local and abroad. PricewaterhouseCoopers and KPMG do not have any problems recognising the ACCA qualifications, maybe your aunt has higher standards?

 

There is enough light to go round so no need to cast a shadow over other professional qualifications, ya? Sweeping comments doesn't speak well of one's professionalism ...

What I meant was that my Aunt has had staff with ACCA, CPA and CPA Aust.

Sorry, maybe I didnt phrase it correctly but I never meant that she has higher standards, just that she has hired staff with different backgrounds.

 

The errors in the exams papers for the local CPA was occuring too often that a friend reporter had managed to get hold of a copy of the exam paper to publish in the Straits Times but due to political interference, was not allowed publication.

 

Colleagues have also reported the same thing on different years of local CPA exams.

 

CPA Australia has been very involved with trying to conform with IAStandards and working today with GAAP on corporate goverence which leads it to being more recognised internationally.

 

Aussie grads have to complete subjects in these areas in order to qualify for CPA Aust, while NTU does not. This is one reason why local CPA does not allow OZ students entry into local CPA.

 

I have no intention to mislead, mention untrue facts on any accounting body, this is just an expression of opinion and facts that has occured.

As an employer, I believe work attitude is no.1. Doesnt matter if the dude has CPA,ACCA and a PhD in Rocket Sci.

 

I would like to apologise if I have offended anyone in anyway. Cheers

[william_liu]

Thanks for all that offered their comments, really appreciate it!

 

Anyway, I think there's not need to debate on which is more or less reputable, let's all leave it up to ourselves to do our own research and then draw our own conclusions.

 

Like what CMYRS said, I too strongly believe that not all good students make good workers, and vice versa.

 

Respect to all who managed to achieve their qualifications!

[josean]

dear all

im afinal year accountancy diploma student

 

prior to what i gathered, employers do prefer Degree holders compared to ACCA graduates. reason being that anyone can learn ACCA but not everyone can take up a degree program

 

i have the intention to take up the SIM program after i graduate.

 

could u guys share your valuable comments ?

[CMYRS]

Well, everything I wanted to say is above

It depends on what you want or feel you want to take up.

They are all geared towards the accounting profession and improve and upgrade's one's analytical and critical thinking skills.

[contrarian]

dear Mr Liu

 

i assume you would like to practise accounting in Singapore?

 

CPA means different things in different places because each country has its own registration requirements.

 

if you're qualified in one place, it doesn't mean that you're qualified in others.

countries using CPA designations - USA, Singapore, Australia (note - all different)

countries using CA designations - UK, Malaysia, Canada, NZ, Australia

note- Australia has both CPA and CA

 

assuming that you're interested in the CPA Singapore, you can take any course that is recognised by the Institute of CPA of Singapore - of which i'm registered as a member.

misterbean's first post gives the details.

 

to qualify for registration, you need to have taken any of the following courses:

---

An applicant shall, at the time of his application for admission, either

 

(a) have passed the final examination in accountancy of one of the following:

 

 

 

the Singapore Polytechnic for the professional diploma and for the degree course in accountancy for the years 1961 to 1969;

 

the University of Singapore for the degree of Bachelor of Accountancy;

 

the Nanyang University of Singapore for the degree of Bachelor of Commerce (Accountancy) or Bachelor of Accountancy;

 

the National University of Singapore for the degree of Bachelor of Accountancy;

 

the Nanyang Technological Institute for the degree of Bachelor of Accountancy;

 

the Institute of Certified Public Accountants of Singapore (formerly the Singapore Society of Accountants) - Association of Chartered Certified Accountants of the United Kingdom Joint Scheme;

 

the Nanyang Technological University for the degree of Bachelor of Accountancy or Master of Business Administration (Accountancy);

 

the Institute of Certified Public Accountants of Singapore Professional Examination; or

 

the Singapore Management University for the degree of Bachelor of Accountancy; or

 

(b) have passed the final examination in accountancy of one of the following or its recognised equivalent:

 

 

 

the Institute of Chartered Accountants of Scotland (ICAS);

 

the Institute of Chartered Accountants in England and Wales (ICAEW);

 

the Institute of Chartered Accountants in Ireland (ICAI);

 

the Association of Chartered Certified Accountants (ACCA) (formerly known as the Chartered Association of Certified Accountants);

 

the Institute of Chartered Accountants in Australia (ICAA);

 

CPA Australia (formerly known as the Australian Society of Certified Practising Accountants);

 

the Institute of Chartered Accountants of New Zealand (ICANZ) (formerly known as the New Zealand Society of Accountants);

 

the Canadian Institute of Chartered Accountants (CICA);

 

the American Institute of Certified Public Accountants (AICPA);

 

the Chartered Institute of Management Accountants of the United Kingdom (CIMA), except that CIMA members applying to be admitted as practising members shall pass the following subjects:

 

Advanced Corporate Reporting; and

Audit and Assurance Services

---

 

which means that first, you need to complete one of these courses.

 

that means if you take ACCA or CPA Australia, you can register with the ICPAS.

 

turning to the merits of the courses:

ACCA is a global organisation. it allows you minimal fuss to practice in many countries. example - if you have CA, you can practise in England, Australia and Singapore and more (you may need a few localisation exams like tax law).

also, once you can practise in one EU country, it is reasonably easy to register in another EU country because of the common market.

if you have NTU degree, you can't practice in England but can register for CPA Australia later.

 

i say this as someone who has the NTU degree-CPA and doesn't have the CA -so i'm not promoting the CA out of my self-serving bias.

 

note that what CMYRS said about CPA Australia not being registrable here is wrong. not only is it registrable, CPA Australia and CPA Singapore have a mutual recognition programme started two years ago.

 

since Australia has both qualifications, if you really wish to delve into the benefits and merits of each, you can look them up at CPA Australia and ICAA.

[CMYRS]

Originally posted by contrarian@Jun 3 2005, 04:44 PM

note that what CMYRS said about CPA Australia not being registrable here is wrong. not only is it registrable, CPA Australia and CPA Singapore have a mutual recognition programme started two years ago.

 

An Aussie grad cannot just go sign up for CPA Spore and vice versa.

Therefore not registable in this sense.

If its possible, trust me, alot of Aussie grads would sign up for CPA Spore.

Would u do a 5 day seminar costing $550 or 6 modules over 3yrs that cost about $4500?

 

Mutual recognition does not mean EXACTLY the same thing.

[misterbean]

Originally posted by josean@Jun 2 2005, 10:04 PM

dear all

im afinal year accountancy diploma student

 

prior to what i gathered, employers do prefer Degree holders compared to ACCA graduates. reason being that anyone can learn ACCA but not everyone can take up a degree program

 

i have the intention to take up the SIM program after i graduate.

 

could u guys share your valuable comments ?

if u are referring to local employers ... yes, there are some who prefer NTU degree holders as compared to ACCA ... esp Civil Service sector

 

but as to whether degrees from other universities get any advantage over ACCA graduates, it is debatable. In the International Big 4 accounting firms for instance, the numbers are about the same based on my personal observation

 

also, pls note the qualifications acceptable to ICPAS for membership, as mentioned by contrarian above

 

but if you are not sure if accountancy is your long term career, getting a degree may facilitate a switch to other lines after graduation.

[contrarian]

Originally posted by CMYRS@Jun 3 2005, 05:51 PM

An Aussie grad cannot just go sign up for CPA Spore and vice versa.

Therefore not registable in this sense.

If its possible, trust me, alot of Aussie grads would sign up for CPA Spore.

Would u do a 5 day seminar costing $550 or 6 modules over 3yrs that cost about $4500?

 

Mutual recognition does not mean EXACTLY the same thing.

i never said mutual recognition is the same thing.

under the mutual recognition agreement, they have started slowly and only:

ICPAS members who hold a university degree recognised by CPA Australia or recognised by ICPAS

and have completed the ICPAS Professional Program

shall be admitted to CPA Australia at CPA status subject to satisfying the relevant mentored work experience program recognised by CPA Australia.

 

other members are admitted as associates to CPA Australia only.

 

 

on the other hand, what i did say was that you can qualify to register for certain countries based on certain qualifications, subject to further localisation exams.

 

this is because one is a degree, and another is a post-graduate professional qualification where the degree is required.

 

it is well established that if you have an Australian accountancy degree that is registrable with either ICAA or CPA Australia, you qualify to register with ICPAS.

that has been the case for years. many people in the profession have Australian accounting degrees.

 

to complete the cycle to earn the CPA Singapore designation, you'll need the ICPAS Professional Exam (not necessary if you have CPA Australia designation), work experience requirement and pre-admission course.

 

on the other hand, if you have, say, an accountancy degree from HK, or Malaysia, you do not qualify by default.

 

 

further, ICPAS has a Professional Exam in addition to the pre-admission course, for people who graduated from the approved universities but did not sit for the final exams of the overseas professional bodies. this is five modules and costs about $5,000.

 

 

to answer your question as to which course i would take, i have done the ICPAS admission course, registered as CPA Singapore, as well as sought info from CPA Australia's Singapore office on its requirements to convert the qualifications, and believe i have done enough investigation on them. i don't ask you to take my word for it - check with the institute and satisfy yourself.

[contrarian]

Originally posted by misterbean@Jun 3 2005, 06:02 PM

if u are referring to local employers ... yes, there are some who prefer NTU degree holders as compared to ACCA ... esp Civil Service sector

 

but as to whether degrees from other universities get any advantage over ACCA graduates, it is debatable. In the International Big 4 accounting firms for instance, the numbers are about the same based on my personal observation

 

but if you are not sure if accountancy is your long term career, getting a degree may facilitate a switch to other lines after graduation.

agreed, it depends on the employer AND your job function.

 

Mr Josean,

if you are intending to head into professional practice (i.e. work for an audit firm), they are quite indifferent to ACCA or degree.

 

if you are intending to work in commercial practice in Singapore, degree is sometimes preferred (for instance, by the public sector).

 

if you are intending to work overseas, ACCA is the preferred option. but SIM has different accounting degrees now, and they lead to different qualifications - so be careful and investigate first before signing up!

[CMYRS]

under the mutual recognition agreement, they have started slowly and only

 

This slowly and surely is coming to halt pretty soon.

 

Assoc. Prof Dr Alex Malley, FSCPA Aust, who was my accg lecturer and also close friend of mine, was amazed at the opinions expressed in this forum when I forwarded it to him.

 

Your directions of advancement to obtaining the different qualifications do sound correct.

 

From what he read in this forum, he is surprised that people actually think the ACCA is that recognised internationally. He is on the board of advisors of the AASB

(Australian Accounting Standards Board) and also on the CPA Aust. They have been working with the States, UK, various parts of Europe and Asia for the last 8 years on getting the IAS up and running.

 

He knows the standards of professional acceptance worldwide after many years in the UK and USA as dean of various universities accg depts and over a decade at PWC, formerly known as Coopers & Lybrand.

 

Alex also did mention that CPA Aust is not keen on further developing programs to associate CPA Aust and Spore due to various reasons. One of them is the fact that the students have approached accg from different directions and the foundations though similar, are not the same. The taking of additional papers eg. company, taxation law, is not sufficient to bridge the gap.

[misterbean]

Originally posted by CMYRS@Jun 3 2005, 11:42 PM

PWC, formerly Cooper Lybrand.

 

For your info, PwC is the result of a merger between Pricewaterhouse and Coopers & Lybrand. It is not "formerly Cooper Lybrand". The Pw Partners will be pretty upset with that statement... lol

[CMYRS]

Originally posted by misterbean@Jun 4 2005, 02:21 AM

For your info, PwC is the result of a merger between Pricewaterhouse and Coopers & Lybrand. It is not "formerly Cooper Lybrand". The Pw Partners will be pretty upset with that statement... lol

Sorry Mate! It was a typo.

Result of 16hr workdays 6 days a wk for months.........

 

Nice Pics of your Fireblade!

[Zandon]

err...got something to asked

 

i registered for the course

all i'm given was their revision kit, which is kinda like "assessment book"

they dun give things like text books or notes to read up?

if not i think i will die, i'm got zero knowledge in accounting

[misterbean]

Originally posted by CMYRS@Jun 4 2005, 06:59 PM

Result of 16hr workdays 6 days a wk for months.........

So hectic ... audit?

[misterbean]

Originally posted by Zandon@Jun 4 2005, 10:02 PM

err...got something to asked

 

i registered for the course

all i'm given was their revision kit, which is kinda like "assessment book"

they dun give things like text books or notes to read up?

if not i think i will die, i'm got zero knowledge in accounting

Not to worry, there will be notes given by the lecturers later ... much better than text books as these will be more focused on the ACCA exams ... and then there is also the student newsletter that publishes technical articles

 

Personally, I found the revision kit more useful than textbooks ... as ACCA exams are very much focused on applying theoretical concepts to practical problems, the revision kit will give you the chance to do practice, practice and more practice

 

I have no accounting background when I started my ACCA too (I was doing Science and Maths all along). I just put in additional effort to get the basics right (eg accounting double entries) and I got through. It can be done