I just passed my 4 ACCA foundation papers

[I.R.A]

I guess this is is 4th,5th time i am telling you to back up your claims with proof not just by your rants or by calling me a kid.So run run and never come back again you low life SOB

Bhai sahab this is what i wanted to tell @Color_Less_Sky
And one more correction ACCA is not just about finance roles.When it comes to audit only the chartered or certified accountants do it not the MBA,s or CIMAs.

@waz @Jango @Slav Defence

Enough of his stupid childish behavior, I have been refraining not to throw personal insults at him and abuse him but it seems like this shit head was never taught any manners, it is very easy for me to abuse his parents too on a public forum but that does not suit me. Please review all OUR posts (him and mine) and do whatever seems appropriate to you.

@SecularNationalist

Kid, keeping silent on your ignorant rants was meant to tell you that there is nothing here to debate and I don't have to prove anything because in practical life I know a lot better than you, what and how it happens and who is who and what is their worth, and for your information you have only 4 papers to your credit? 4 only 4, and well you say I have seen fully qualified ACCAs working as assistants who have the experience unlike you and as people are far better than you. So next time you call someone a Son of a bitch make sure you don't end up working under him.

I did not want to do this but sometimes I think kids need to be taught a lesson, so please let us first establish where you stand in understanding of the profession, then may be you and me can go to a debate regarding which you have zero practical experience.

• Which audit firm are you serving right now? If it is not one of the big fours and if you haven't served any at all then just simply shut up there is no comparison here.
• What roles have you performed as an audit trainee?
• Which big companies have you audited?
• Or if you have not been to an audit firm then let me know which company are you serving? What is your position?
• How many ACCAs or CAs have you trained?

And for your basic technical knowledge please let me know

• What is prudence concept?
• Do you know what true and fair view is?
• What is a related party?
• What is undue influence?
• What is hedging?
• What is window dressing?
• What is deferred taxation? Tax base? Temporary difference? Permanent difference?
• Name me any three ERP systems?
• You must be aware of how telecom companies recognise their revenue?
• Do you know what contigent liability is?
• What would be the treatment of contingencies and commitments in financial statements?
• What is the difference between IFRS and IAS?
• How would you define NPV? Net Present Value?
• What is the role and reporting of an internal audit function of an organisation?

These are some of the very basic knowledge based questions if you can answer these I will think about replying to your childish posts, until then don't quote me again. And I stand by my words in Pakistan comparing CAs with a simply qualified ACCA is like comparing a Giant with a dwarf.

 

[Thorough Pro]

Don't discount ICMAP, it is as good as ICAP, with minor difference in syllabus

Excuse me.....................................?

You broke monopoly? Do you have 1% idea of how ICAP operates? Do you have any idea it is one of the very few institutes in Pakistan that operates on purely merit and has been producing quality people (exceptions are not counted) since its inception? It is one of the very few institutes where exams are conducted free of cheats and cheating. Its members and students are the finest in Pakistan in what they do.

Congrats on your baby steps but don't try comparing giants with dwarfs it will help you once you enter the competition and practical life. I am sorry for being a bit harsh but won't accept the BS.

hey guys, show some professionalism, degrees count 20%, attitudes 80%

Sorry a while ago i visited some indian accountancy forums and over there students were saying in terms of exam ,learning materials etc ACCA is better than CPA. But i personally indian CPA is better than pakistani CA.
And everywhere you go a national equivalent has a slight advantage over ACCA,it,s not just in india or pakistan.But this can solved after doing ACCA you will get plenty of exemptions and a little bit of more effort can make you a member of national qualification. ICEAW is one of those examples.

 

[I.R.A]

Don't discount ICMAP, it is as good as ICAP, with minor difference in syllabus

ICMAP is no doubt as good as any other professional qualification, however, I don't why ICMAP never tried to enhance its members skills through articleship etc. Newly qualified ACMAs suffer because they lack experience when they compete for jobs in market. It would have been great if ICMAP had the same system of articleship for its students so in market its freshly qualified members could compete better. ICMAP is to be blamed for downfall of ICMA in Pakistan (my personal opinion please no offense intended).

 

[SecularNationalist]

@waz @Jango @Slav Defence

Enough of his stupid childish behavior, I have been refraining not to throw personal insults at him and abuse him but it seems like this shit head was never taught any manners, it is very easy for me to abuse his parents too on a public forum but that does not suit me. Please review all OUR posts (him and mine) and do whatever seems appropriate to you.

@SecularNationalist

Kid, keeping silent on your ignorant rants was meant to tell you that there is nothing here to debate and I don't have to prove anything because in practical life I know a lot better than you, what and how it happens and who is who and what is their worth, and for your information you have only 4 papers to your credit? 4 only 4, and well you say I have seen fully qualified ACCAs working as assistants who have the experience unlike you and as people are far better than you. So next time you call someone a Son of a bitch make sure you don't end up working under him.

I did not want to do this but sometimes I think kids need to be taught a lesson, so please let us first establish where you stand in understanding of the profession, then may be you and me can go to a debate regarding which you have zero practical experience.

• Which audit firm are you serving right now? If it is not one of the big fours and if you haven't served any at all then just simply shut up there is no comparison here.
• What roles have you performed as an audit trainee?
• Which big companies have you audited?
• Or if you have not been to an audit firm then let me know which company are you serving? What is your position?
• How many ACCAs or CAs have you trained?

And for your basic technical knowledge please let me know

• What is prudence concept?
• Do you know what true and fair view is?
• What is a related party?
• What is undue influence?
• What is hedging?
• What is window dressing?
• What is deferred taxation? Tax base? Temporary difference? Permanent difference?
• Name me any three ERP systems?
• You must be aware of how telecom companies recognise their revenue?
• Do you know what contigent liability is?
• What would be the treatment of contingencies and commitments in financial statements?
• What is the difference between IFRS and IAS?
• How would you define NPV? Net Present Value?
• What is the role and reporting of an internal audit function of an organisation?

These are some of the very basic knowledge based questions if you can answer these I will think about replying to your childish posts, until then don't quote me again. And I stand by my words in Pakistan comparing CAs with a simply qualified ACCA is like comparing a Giant with a dwarf.

See how right i was when i said you are a way too immature at 36.Before you were unable to answer the questions i have raised and now for saving your a$$ that,s how you responded You are just here to attack or to show how butt hurt you are.
Of course after sometime i will study those things but you cannot expect to answer all those questions from someone who just started his ACCA and cleared just 4 foundation level exams.But still i can answer some of those questions but not all of them of course.
okay okay i have never trained a CA or ACCA and never been to any big four firm but am i blind who cannot see the things around him ?
I don,t mind call ACCA thousand times a dwarf because what you say got little importance .The world is recognizing this qualification and ranking it better than CA,in pakistan you tried to finish it but lost the case so now go cry that,s the best you can do. ACCA is second only to a qualification like ICEAW and you are saying CA is better than ACCA Go to any big 4 audit firm and they will take both CA,s and ACCA,s.Do you think firms like KPMG,Ernst and young are idiots who are hiring ACCA,s as auditors??
There was a exchange of hard words between you and me not because i bragged it happened because you showed rudeness and arrogance and when i asked you some questions instead of answering them you called me a kid.

 

[Aepsilons]

Congratulations!

 

[I.R.A]

Of course after sometime i will study those things but you cannot expect to answer all those questions from someone who just started his ACCA and cleared just 4 foundation level exams.But still i can answer some of those questions but not all of them of course.

When I said you are ignorant I was right, you have a lot to learn. Now focus on your task at hand. This competition with me won't earn you anything. And after all your nasty comments and abuses I am still open to if you need any guidance or need any help with your studies. Now excuse me I am done here.

 

[SecularNationalist]

When I said you are ignorant I was right, you have a lot to learn. Now focus on your task at hand. This competition with me won't earn you anything. And after all your nasty comments and abuses I am still open to if you need any guidance or need any help with your studies. Now excuse me I am done here.

Bhai sahab our debate was about how CA any better than ACCA and if you could have asked all those questions to some ACCA who even just pass 9 papers(2 modules) i bet he would have answered.So according to your logic you just proved ACCA is inferior than CA because a student who just started his ACCA was not able to answer the questions raised by a full CA
May god bless you

 

[I.R.A]

Bhai sahab our debate was about how CA any better than ACCA and if you could have asked all those questions to some ACCA who even just pass 9 papers(2 modules) i bet he would have answered.So according to your logic you just proved ACCA is inferior than CA because a student who just started his ACCA was not able to answer the questions raised by a full CA
May god bless you

If you care to look at my very initial posts you would realise that I know fully qualified ACCAs, discussing with you is like . Heck my own very close relative is ACCA and I need you to understand who is better and who is not. Well..............

An ACCA without any experience has no value in Pakistan "Nil" (unless Dar Sb. is your uncle) and to gain experience an ACCA will have to join an audit firm (which in Pakistan's case big four are all Chartered Accountants mostly) and will have to register with ICAP to appear in exams and become a member in addition to being ACCA. For better prospects obviously.

And if you don't intend to join an audit firm and become ICAP member then you will have to join some organisation in Pakistan and none of good reputable organisation would offer CFO's position to a freshly qualified ACCA. So a junior position and you will remain stuck there.

Now consider the ICAP students as soon as they clear their foundation exams they land in practical life, their articleship starts and they start gaining experience and by the time they qualify as Chartered Accountant they have an experience of three or more years at hand (even the part qualified ones too), so when they start looking for jobs they don't have to worry about gaining experience, contacts, links, and if you are from big four it makes your life more easy.

Now try and understand this you will face this one day here in Pakistan. This is the difference between ACCA, ICMAP and ICAP.

 

[SecularNationalist]

If you care to look at my very initial posts you would realise that I know fully qualified ACCAs, discussing with you is like . Heck my own very close relative is ACCA and I need you to understand who is better and who is not. Well..............

An ACCA without any experience has no value in Pakistan "Nil" (unless Dar Sb. is your uncle) and to gain experience an ACCA will have to join an audit firm (which in Pakistan's case big four are all Chartered Accountants mostly) and will have to register with ICAP to appear in exams and become a member in addition to being ACCA. For better prospects obviously.

And if you don't intend to join an audit firm and become ICAP member then you will have to join some organisation in Pakistan and none of good reputable organisation would offer CFO's position to a freshly qualified ACCA. So a junior position and you will remain stuck there.

Now consider the ICAP students as soon as they clear their foundation exams they land in practical life, their articleship starts and they start gaining experience and by the time they qualify as Chartered Accountant they have an experience of three or more years at hand (even the part qualified ones too), so when they start looking for jobs they don't have to worry about gaining experience, contacts, links, and if you are from big four it makes your life more easy.

Now try and understand this you will face this one day here in Pakistan. This is the difference between ACCA, ICMAP and ICAP.

I did not deny and i said nothing comes overnight.Without experience qualifications worth little.Not just ACCA the same can be said about any qualification.We can say the same about CA,i knew a guy who was working for 6800PKR per month for a audit trainee at KPMG but later he got a good job.And i bet no fresh CA get the CFO position either.
Well it is possible to get experience in ACCA and pass exams at the same time but that happens rarely because study is too much.CA,s reach the point where they have experience and qualification but after eight years and good ACCA students can reach that point in 6 years(3 years for 14 papers and 3 years for experience which is required to become full ACCA).CA requires you to study and work at the same time which is very hectic and uncomfortable for a student,ACCA provides you the flexibility of passing the exams first and doing experience requirement later.If we look in the long term nothing is easy both are difficult.(I have seen the CA syllabus and compared it with ACCA).And in fact i decided to pursue ACCA because my friend who is worked for KPMG advised me to pursue ACCA rather than CA because according to him ACCA is a better choice.

 

[I.R.A]

I did not deny and i said nothing comes overnight.Without experience qualifications worth little.Not just ACCA the same can be said about any qualification.We can say the same about CA,i knew a guy who was working for 6800PKR per month for a audit trainee at KPMG but later he got a good job.And i bet no fresh CA get the CFO position either.
Well it is possible to get experience in ACCA and pass exams at the same time but that happens rarely because study is too much.CA,s reach the point where they have experience and qualification but after eight years and good ACCA students can reach that point in 6 years(3 years for 14 papers and 3 years for experience which is required to become full ACCA).CA requires you to study and work at the same time which is very hectic and uncomfortable for a student,ACCA provides you the flexibility of passing the exams first and doing experience requirement later.If we look in the long term nothing is easy both are difficult.(I have seen the CA syllabus and compared it with ACCA).And in fact i decided to pursue ACCA because my friend who is worked for KPMG advised me to pursue ACCA rather than CA because according to him ACCA is a better choice.

PKR 6800 as an audit trainee well that is too high a stipend compared to PKR 1,000 a month and that too after deduction of PKR 60 for EOBI.

I don't know if your friend is a qualified CA or not but people I know they would have recommended CA mandatory with any extra qualification (if you plan to stay in Pakistan) i.e. CA as a first achievement and then CIMA, CFA, ACCA CISA as an extra qualification. However, this in turn depends on what is the financial position of a person because CA is cheaper than others especially ACCA, and failing any paper in ACCA hurts lot more financially compared to CA, if you are financially sound then start with ACCA and go for ICAEW then. And studies with work is the fun part by the way and necessary for pressure handling and develops multitasking skills otherwise some of the jobs will kill you in very first few days.

 

[SecularNationalist]

PKR 6800 as an audit trainee well that is too high a stipend compared to PKR 1,000 a month and that too after deduction of PKR 60 for EOBI.

I don't know if your friend is a qualified CA or not but people I know they would have recommended CA mandatory with any extra qualification (if you plan to stay in Pakistan) i.e. CA as a first achievement and then CIMA, CFA, ACCA CISA as an extra qualification. However, this in turn depends on what is the financial position of a person because CA is cheaper than others especially ACCA, and failing any paper in ACCA hurts lot more financially compared to CA, if you are financially sound then start with ACCA and go for ICAEW then. And studies with work is the fun part by the way and necessary for pressure handling and develops multitasking skills otherwise some of the jobs will kill you in very first few days.

No my friend is full CA.It,s not just in pakistan it,s everywhere because the local accounting bodies are usually regulators and they have a natural influence on the job market.ACCA is a global body but it still works in countries like dubai,russia and hongkong etc.
Yes as i told you before if i want to stay in pakistan and want to make a career then becoming a ICAP member is crucial but that does not mean there is no future of a simple ACCA member in pakistan,things are just a little harder for him/her.
CA is a way way cheaper than ACCA.For one paper we pay around 20,000PKR and i have heard for CA one paper is something like 2000PKR.Well financially i am not bad just an average guy who think ICAEW is much better option after ACCA as the exemptions after ACCA are 14 out of 16 ICAEW papers.

 

[waz]

So a simple congratulations thread has turned into a full debate.
If you guys want to help each other, that's fine. But these debates are just a plain waste of time. Be happy for the successes your brothers enjoy.

 

[HariPrasad]

No its is not.

In India, it is considered inferior to CA. @HariPrasad
(the same way as in Pakistan)

But outside India-Pak, it is different, except some south Asian controlled firms.!

CPA is equivalent to CA of India in western countries. Value keeps on changing. By passing the lots in masses, Indian CA has reduced its value in recent time. There was a time before 5 years, when CA used to give highly premium result and lots of people passed from even a city like Surat. Total 500 students from Surat had passed CA Final (Either one group or both group out of 4 group of final). However CA is considered to be a very premium degree in India and world wide.

 

[I.R.A]

CPA is equivalent to CA of India in western countries. Value keeps on changing. By passing the lots in masses, Indian CA has reduced its value in recent time. There was a time before 5 years, when CA used to give highly premium result and lots of people passed from even a city like Surat. Total 500 students from Surat had passed CA Final (Either one group or both group out of 4 group of final). However CA is considered to be a very premium degree in India and world wide.

Fiveeeeeeeeeeeeee hundreeeeeeeeeeeeed ............................

We would call it a nalka attempt if the final number goes to 250.

 

[rockstarIN]

CPA is equivalent to CA of India in western countries. Value keeps on changing. By passing the lots in masses, Indian CA has reduced its value in recent time. There was a time before 5 years, when CA used to give highly premium result and lots of people passed from even a city like Surat. Total 500 students from Surat had passed CA Final (Either one group or both group out of 4 group of final). However CA is considered to be a very premium degree in India and world wide.

It is just a thought that it is a premium degree.

Checking the hi-fi jobs, even big 4s, will give you an idea that there are not even 2% CAs but full of MBAs.

Jobs like risk advisory etc.