Questions about ACCA


WHAT IS THE BEST INSTITUTE FOR ACCA/CAT IN LAHORE?

With  SKANS and CFE students are found more satisfied whereas PAC being an icon missed the beats.

WHAT IS THE BEST INSTITUTE FOR ACCA/CAT IN KARACHI?

In Karachi beyond any doubt CAMS is chosen the best institute by the voters. However, AL-Hamd institute is giving the CAMS a very tough competition and is almost head to head with CAMS.

WHAT IS THE BEST BOOK FOR ACCA/CAT PREPARATION?

BPP and FTC (Kaplan) book series are found favorite among students with more inclination towards FTC. Also to mention FTC exam tips is one of the book series that every student wants to have.

IS CAT DIFFICULT?

Large number of students agreed on the point that CAT is NOT very difficult and an average student is capable of doing it easily. However, when asked whether one should start it after matriculation or its equal counterpart o-level, majority was of the opinion that one should not jump into this with this much short academics.

ACCA VS. LOCAL DEGREES (B.COM, MBA)

ACCA is preferred, with big majority, over local degrees like MBA or B.Com. When asked why this is so, the answer was pretty straight forward: "Local degrees like B.Com proves no good to your carrier, rather wasting your time for 2 years, which is now 4 years, you are really at loss if you compare the time investment with ACCA which you can do with in 4.5 years including CAT". However most of the students want to do the MBA with their ACCA certification but only from selected institutes like Lahore School of Economics (LSE) or Lahore University of Management Sciences (LUMS).

SHOULD ONE DO CAT BEFORE DOING ACCA?

No clear decision came out on this. Respondents were found divided almost half and half on this. Some said its better to do CAT before ACCA but other were improvising on their opinion by saying why waste time on 5-9 papers when you can do the same in 3 papers with a bit over average effort.

ACCA VS. CA

In Pakistan ACCA is second only to CA, and to be very frank students of ACCA were found very "noisy" over this. At every point, at every opportunity CA keep its lead over ACCA. In order to put CAs to the test ACCA students have a new plan ACCA+MBA that really is AN idea. However some said that ACCA is a substitute to CA because of its global recognition and "easy to study" syllabus as compared to CA and in addition to that less time to complete the certification.

WHAT IS THE MOST DIFFICULT PAPER IN CAT?

T5 is found as one of the most difficult paper in CAT and after T7 was voted as most difficult.

WHAT IS THE SCOPE ACCA IN PAKISTAN?

This question really came up with very different answer beside the huge potential of accounting and information technology growth in Pakistan in recent years.
Majority said that there is no scope in Pakistan for ACCA qualified person. Then where can we find that "scope" thingy, they said England and the Middle East are the heavens for the ACCAs.

IN HOW MUCH TIME ONE CAN DO CAT?

Results reported that one can do CAT in 1 or at most 1.5 years max.

SHOULD ONE ATTEMPT 5 OR 9 PAPERS OF CAT?

Population was found indifferent towards attempting 5 papers over 9 papers set. The most powerful opinion that came was that one should attempt 9 papers as student can have the CAT certificate and the full attempt will definitely be helping him later in ACCA papers.

HOW MUCH ACCA QUALIFIED CAN EARN?

Well answer to this question was given with much "this and that's" and of the big condition was of which firm you have articles under your belt. With articles from one of the BIG-4s one can earn 45,000 in start. In UAE or Middle East population was of the opinion that one can earn more than 7,500 dirhams

WHEN ARTICLES SHOULD BE STARTED IN ACCA CERTIFICATION?

Keeping in view its difficulty level many suggested that articles should be started after level 2 but professionals are of the view that one should start articles after its completion.

IN HOW MUCH TIME ONE CAN DO ACCA INCLUDING CAT?

One unanimous voice "3.5 to 4 years" is the period in which one can complete ACCA including CAT.

WHY STUDENTS CHOOSE ACCA?

Well, not like other qualifications, most of the students enter into this with proper plan and vision. But there is no less than majority who choose ACCA who left with no options and not surprisingly some of the population started this because of his/her relatives were doing the same.

SHOULD ONE DO A JOB WHILE DOING ACCA?

Voters found no harm in doing the job simultaneously with studies however they prefer not to do the job.

SHOULD ONE OPT FOR GIVING 4 PAPERS AT ONE TIME?

Well it depends on the papers to be attempted and on student himself too. If one can digest more in less time he/she can avail the option to the fullest extent but as a caution population warned to make the haste.

WHICH IS THE EASIEST AND MOST DIFFICULT PAPER IN ACCA?

F5 and F7 are voted as among the easiest paper to pass in ACCA certification but on the other hand F8 was voted as the most difficult to get through. Putting everything in words than its safe to say that LAW, TAXATION and AUDITING are the subjects with which students are found unhappy.

WHAT TO DO AFTER ACCA?

Vast majority answered that they will be doing CA (after claiming exemption up to CA-Inter i.e. module D) Or CFA.

WHAT SHOULD BE THE SALARY OF QUALIFIED ACCA WITHOUT PRIOR EXPERIENCE?

Salary up to 20,000 is acceptable to the mob in absence of any experience.

FROM WHICH FIRM ONE SHOULD DO HIS/ HER ARTICLES?

BIG-4 is an obvious choice for everyone but still likings were noticed. Price Water Cooper PWC and Ford Rhodes were the most favorite firms of all. After ranking accountancy firms some said its better to gain accounting experience from one of the multinational companies.

WHICH IS THE BEST OPTION FOR CLAIMING EXEMPTIONS FOR ICAEW?

Big majority voted that candidate should opt for paper P6 and P7 for claiming exemptions for ICAEW qualification.

Popular posts from this blog

IAS I6 Property, Plant and Equipment

http://hi2sales.com Property, plant and equipment are tangible items that a: are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes and  b: are expected to be used during more than one period. The cost of an item of property, plant and equipment shall be recognised as an asset if, and only if:  a: it is probable that future economic benefits associated with the item will flow to the entity; and  b: the cost of the item can be measured reliably. Measurement at recognition: An item of property, plant and equipment that qualifies for recognition as an asset shall be measured at its cost.         The cost of an item of property, plant and equipment is the cash price equivalent at the recognition date.             If payment is deferred beyond normal credit terms, the difference between the cash price equivalent and the total payment is recognised as interest over the period of credit unless such i
Read more

IAS 12 INCOME TAXES

Graham Holt unravels the deferred tax complexities and latest developments in tax accounting Studying this technical article and answering the related questions can count towards your verifiable CPD if you are following the unit route to CPD and the content is relevant to your learning and development needs. One hour of learning equates to one unit of CPD. We'd suggest that you use this as a guide when allocating yourself CPD units. IAS 12,  Income Taxes , deals with taxes on income, both current tax and deferred tax. Income tax accounting is complex, and preparers and users find some aspects difficult to understand and apply. These difficulties arise from exceptions to the principles in the current standard, and from areas where the accounting does not reflect the economics of the transactions. The current tax expense for a period is based on the taxable and deductible amounts that will be shown on the tax return for the current year. Current tax assets and liabilitie
Read more