IS ACA (ICAEW) BETTER THAN CIMA, ACCA, & ICAS? CHARTERED ACCOUNTANTS
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- Опубліковано 10 лип 2024
- Today I talk about the accountancy qualifications and whether the ACA is better than the rest!
Link to the FRC report:
www.frc.org.uk/auditors/profe...
Timestamps:
1. Introduction 0:00
2. Recap 0:30
3. Chartered Accountant 1:02
4. Membership 2:11
5. Perception 4:00
6. Industry Preferences 5:34
7. Transferability 6:30
8. Close 7:28
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This is a great channel, you keep answering questions I have had for a while in a concise way
Thank you for the kind words
Precise yet necessary detailed.. You explained it very well and in an unbiased way.. Thank you..
No worries thanks Aditya for the kind words
Long waited video thank you very much😊👍
No worries
This one was very helpful!
Please consider making a video about cfa also.
Thank you I may do CFA in the future
Perfect. Just...perfect.
Great vid. May Allah reward you.
Ameen
Salaam, Thank you for this, I have graduated from my university course, as well as now finding a graduate role alhamdulilah, where overtime they will give me the opportunity to take one of these on board, do you have a video on the breakdown of the type of exams to expect from each one? Along with pass boundaries for each, and what specific roles you can progress on to, this would be helpful if you have a video on this, Jazakallah
Wa alaykum as Salam watch chartered v management video has some more details on number of exams, length etc.
Well this is certainly not the case in Pakistan. Here an ACA is considered an CA and is given the same prestige (though icap members are preferred but both can get the same type of job) on the other hand acca is just an alternative to BS or MS and can never get the same prestige as ACA or ICAP member and unlike acca ,an ICAP member as well as an ACA can perform external audit and can open their authorized tax firms
Yes something I’ve heard in Pakistan which I don’t agree with tbh ACCA members are just as competent as other bodies’ members.
When a person qualifies chartered accountancy he/she is admitted as " associated chartered accountants aka ACA" but the general public call is CA . The same CA person when complete 5 years practice under practice certificate of ICAP after membership he is entitled to title called Fellow chartered accountant . The total paper of CA is 21 unlike ACCA's 13. ACCA is just childish when compared to ICAP-CA. The total papers in ACCA is 13 but in ICAP- CA a person who pass 13 initial papers is called CAF-qualified means certificate in accounting and finance,then the famous articleship under ICAP rule starts. ACCA is like a T20 cricketer who cannot play test matches.
@@waqasahmad6111amd the funny part is ICAP is just a professional body that is stuck in the 1980s with no evolution. No of exams is not what ensures quality of a qualification
@@odin3221 CA has evolved a lot in the past 6 years. It is now a bit normal in their policies. The ICAP now is lenient unlike the past time for example:
Now we enjoy permanent credit in a single paper ( once any single paper if pass then now need to attempt,so no in group passing).
Fix initial minimum stipends
Introduction of relevant books for all CAs. In the initial years the book was free of costs.
The current disqualification police will be ended again. Even one additional years is also approved for CAF so those disqualified permitted again for 2 attempts ( if pass any 6 papers then they have next 1 year again) . This step taken to save students from disqualification because onwards 2025 all disqualification policy will be cancelled.
The exam fee is almost reasonable
There are many modern libraries for students on major cities in addition to main houses of ICAP .
@@odin3221 There is no qualifications in past that can ensure the quality and standards as is ensured by ICAP. The papers of ICAP are almost at the same level as any chartered accountancy body such as ICAEW ,ICAS ,ICAI and ICAAN . The main issue is that our students basically pursue the CA after their Fsc qualification and the level of ICAP is above any Bachelor degree in Accounting & finance. Children have wrong expectations. Not covering the Grade wise the course and even not practicing the up to mark questions make them fail otherwise ICAP doesn't forcefully fail anyone. As an example in the recent attempt of CMA I had expected 20 marks but the actual mark was 32 so it is we how doesn't put full efforts .
ACCA actually more popular than CIMA in industry.
If I want to work with big for, which is better Acca I aca?
Also, are there any advantages to studying aca after finishing assa and starting work in a practice company?
Both are fine no advantages to study ACA after ACCA it’s a common misconception
I remember enquiring about potential module exemptions from both the ACA and ACCA. Since I did a Masters in Economics and Finance, the ACCA offered me far more module exceptions then the ACA were offering and thus ended up doing only 7 modules out of 13 with the ACCA. Hence, it was a no brainier for me choosing the ACCA over the ACA as it saved me a lot of precious time to better balance work life along with studies at the BPP.
Thanks for the insight especially useful for people to whom exemptions are important.
Son is just about to start as a graduate for a firm of accountants with half a dozen offices across the South and will study for icaew aca. In reality what difference will not going with a big 4 have on any future career progression within other Practices and moving in to an industry role? Does having a big 4 on cv hold more clout?
Big 4 on CV does look good but he could move to the Big 4 after qualifying as they’re always recruiting
@@FehzanMehdi seems a plan and he starts on 1st. Seems big 4 grad schemes have as many negatives as positives when you dig deeper. BTW thank you for all your uploads which have been very insightful and a huge help.
No worries Marc hope it all goes well for your son
Hi, I need some guidance from your side. My work permit visa is in process for the UK. Hopefully, I will get my visa soon. My question is, which accounting certification would be better for me? I have 8+ years of work experience as an accountant from Pakistan, plus I have an MBA and two BBA degrees. I have explored all the qualifications like ACCA, CIMA, ICAS, AAT, ATT, and CTA, and I have got all the information regarding qualifications, but I am looking for an easy and less costly certification which I can do within 2 to 3 years. I would go to the UK as a general accountant, but my ultimate goal is to become a tax accountant, so what would you suggest? Which qualification would be easy and less costly? Secondly, which accounting profession is better: tax accountant or general accountant?
Thank you and best wishes.
If you want an accounting qualification graduate role is best entry route for you as firms will sponsor your studies so your exams won’t cost you anything.
@@FehzanMehdi I am really confused. You talked about becoming an apprentice or graduate trainee accountant. Firms are offering level 4, level 5 or level 7 apprenticeships. I already have Bachelor and Master's in Business Administration plus working experience as an Accountant from Pakistan and I will get an Academic Qualification Equivalency Letter from UK ECCTIS/NARIC, so which route would be better for me?
Does members of chartered accountant of ireland registered trade mark to call themselves “Chartered accountant “?
Yes them as well
Hi Fehzan, Lovely video. Please can you elaborate what "hard work" means to you in terms of studying, methodology of studying in order to remember all the material, how many hours/day, how many times to do the Question bank, including Revision. Do you get any practice on Passed Exams papers from ICAEW as soon as you log in as a student?.
Thank you very much for your time and support. All the best & God bless
For me on top of college I’d spend around 2 hours each weekday after work and then around 4 hours each day on the weekend for about 6 weeks before the professional exams. Certificate exams you don’t often have that much of a gap between college and exams, so you’ll have to spend potentially more time to fit everything in.
I’d double check but I do believe you get access to exam resources which includes past papers when you’re a student.
Thank you Fehzan. Good answer. I basically need 2-3 hours /day and more in the weekends. That is a good indication. I cannot afford Kaplan or BPP. I will be self-studying and I am going to use ACA MASTERS and ACA Simplified in addition to the ACA study materials. I am working in the industry and my employer I do not think is a training partner. I will check. I keep phoning ICAEW but I do not get answer, although I let the phone ringing over an hour and me to be the number 1 in the queue. Many people ask me to do CIMA or ACCA. For some reason I do not like CIMA at all. It does not fulfil me. It does not make me feel a chartered accountant. ACCA is not bad at all and there are plenty resources around and training providers with very reasonable prices. I just like ACA bcz, I found it very well balanced and comprehensive and good for management as well. I have around 4 hours/day to study and I am planning to do around 8 hours on Saturday (4 in the morning from 5 am to 9 am and from 6pm to 10pm) and 6 hours on Sunday. My problem is to understand how to remember all that material or trying to understand the concept only and knowing how to apply it? Can you give a guidance on that? Thank you for everything and God bless your kindness.
In the current climate are there more or less opportunities now for accountants
I’d say relatively the same there’s lots of opportunities for accountants - I’ve always found that to be the case
What is the easiest of all certificates that is like CPA , ACCA ???
I wouldn’t say there is an easiest qualification because what you may find easy is different from the next person. Even though some may appear easier as they have less exams broadly the main professional bodies will cover similar breadth of topics.
Hi i want to ask is aca a high paying job like ca in india from icai ?
Yes see my video on how much an accountant makes to get an idea
Some ACA exams are open book
Why EY has started to offer ICAS now instead of ACA?
You know more than me! I thought they were still offering a mix of ICAS and ACA. Scotland offices for the big 4 normally offer ICAS
They have offered both for years I think?
Can you suggest me after finishing masters should i go for ACCA or ACA which one will better.
Both respected qualifications I did ACA others will do ACCA. Up to you wouldn’t say one is definitely better than the other.
@@FehzanMehdi some one say if i wants to make career in UK then ACA will be better option is it true
It’s popular but ACCA is still good as it’s an equivalent qualification
@@FehzanMehdi thankyou very much my brother Allah bless you and give you more success.♥️♥️
Ameen
Which universities can I study ACA in the UK as an international student?
Also, can I finish the ACA exams in 2-5 years with full-time studying .
ACA isn't a university course on offer, you'll have to study a course which will give you the most number of exemptions.
@@FehzanMehdi I see, such ACCA course ,
By the way can I find work as ACCA affiliate ( with no experience)
Thank you very much 🌹🌹🌹, your Chanel is very useful.
I heard that there is a university that offers the ACA route called “The University of South Wales.
@@abdulraoufabumahlula2919 yes but that's not a degree which I assume is what you're after as an international student. The university is registered as a learning partner like private organisations such as BPP and Kaplan.
Can You tell me if ACAs earn more in the UK than ACCA? I mean of course, there are countless factors but in general terms?
No on average the earnings should be the same
@@FehzanMehdi Right. But when it comes to promotions, those having both qualifications would definitely have an edge right?
@@norezqamar889 wrong - in the same firm/ company there just wont be a difference. Getting the job in the first place - maybe - but not necessarily as a reflection of the qualification.
@@jayritchie2785 Then why do ACCAs there even pursue this qualification? And ICAEW claims that majority of the FTSE 100 companies have ICAEW members on their board and their students can double salaries during training but ACCA makes no such claim. Then what's the difference?
@@norezqamar889 you are not comparing like with like. I'm not sure that I understand you question?
'why do ACCAs even pursue this qualification' - loads of reasons. For a start its easier to get into in general, a far smoother transition for those with accounting degrees, big company schemes in industry frequently pay far more than their ACA equivalents (of course these schemes are not easy to get into).
So lets compare like with like. The majority of ACA trainees have very high grades from school / university, pass tough aptitude tests, get through interview processes and are given offers in multinational organisations. If you want to compare properly you have to look at career outcomes for people who get onto school leaver or grad schemes in competitive multinationals with those who do ACA training. Ideally those who get offers from both routes and have a decision to make.
The best is ACCA and ICAEW
People will say either qualification but both are good well respected
Acca is global, no one can beat acca
You could be right
Can you suggest a visa type for international students (in my case Pakistan) who want to pursue ACA through School leaver programme in the UK?
I'm not sure if that's even possible as doesn't the school leavers program specifically target UK schools, and those finishing their A-levels (so will be around 18 year olds)?
@@uzs1333 I saw some Authorised Training Employers' recruitment sites and they have mentioned the eligibility criteria on their sites. Yes they want A-Levels students and they have some minimum UCAS points criterion but any international student can get equivalence of their academic qualification (which is other tha O/A-Levels) from their respective education departments. For example we have F.Sc equivalent of A-Levels. We can get equivalence from Higher Education Commission of Pakistan and get our marks converted to grades.
@@ghufranmuhammad5432 Hmm I'm not too sure how possible that would still be, just based on my own experience of never meeting an international school leaver at the big 4
@@uzs1333 May be the ground reality is totally different but I think it is technically possible.
@@ghufranmuhammad5432 Yeah I agree, technically it probably is possible but I would advise against banking on this approach or being too reliant on it
Best is ACCA
ACCA is the Best
A lot of people will agree with you
my plan is to go Edinburg, Scotland and work for Big 4 due to some factors. So far what I have realized on google is that ICAEW is more popular than ICAS.
So will it work for me if I join ICAEW by staying in Scotland and apply for job in Scotland?
could you rephrase please? Your question is not clear. Are you asking if you would be able to sit ICAEW in a big 4 firm based in Scotland?
Either qualification is good you may find that icas is more popular in Scotland but both hold value!
@@jayritchie2785 yes…i meant will Big 4 in edinburg prefer ICAS over ICAEW candidates
@@lakshaybansal7855 I doubt a firm in Edinburgh would recruit someone to take ICAEW. They would have issues finding colleges. I guess if they recruited someone who had already started ICAEW that might be ok.
By the way saying 'ICAEW is more popular than ICAS' is a bit strange. There are more members because England and Wales combined have a far larger population that Scotland. Its a but like saying Russia, Chinese or Indian passports are more popular than Swiss ones. So what?
Also wanted to add - there could be circumstances where one may have a reasoned preference for ICAS over ICAEW or vice versa. Rare - but not impossible. More common for people to have a reason to take ACCA over ICAEW but still not common.
If you do have a real reason it may be worth considering accordingly. For 99% plus of people - no difference.