CPA requirements (1 Viewer)

[redruM]

Hi I thought I'd add my 2c on CA vs. CPA.

Although most people consider the CA designation to be more prestigious than the CPA designation, its not always the case. It can be argued they serve slightly different purposes.

CAs are more suited towards the highly technical Public Practice activities like Auditing, Technical Accounting and Insolvency/Corporate Recovery. The nation's top Auditors and Liquidators are all CAs.

CPAs seem more suited towards general business, and there is less of an emphasis on Technical Accounting. Having said that though the smaller Public Practice firms tend to be CPA firms, for reasons I don't understand. So some people contentiously argue that CPA = small end of town. (which is ridiculous but anyway...). Anyway, CPAs are in no way inferior and many prominent business leaders are CPAs. For instance both the CEO (chief executive officer) and Chairman of Australia's largest company, BHP Billiton are CPAs.

In contrast, there are few CPAs (unless they are dual CAs and CPAs) who are Big 4 Partners. Although they force their Accountings Grads to take the CA program due to its more technical content there is another reason why Big 4 Firms choose the CA over the CPA in Australia. Big 4 Firms in Commonwealth Countries are "Chartered Accounting Firms" because when they started up 100s of years ago back England, there was no such thing as CPAs or CCAs or CMAs etc only Chartered Accountants, who were constituted under a Royal Charter. So basically its just tradition.

I just realised I've waffled on. Basic summary of the all the above nonsense is CA is not > CPA, and if I were you, I'd just do both. Once you've done the CA you only have to do like the 2 subjects (Business Strategy and Professionalism I think) for the CPA to get it.

Thats very similar to what I have read on this accounting site

 

[Smorter]

lol I did find this though in my search, and although it still has some CPA Propaganda and corniness, its much less cheesy than previous advertisements. Actually, its decent.

http://www.cpaaustralia.com.au/cps/rde/xchg/SID-3F57FEDF-3396D91F/cpa/hs.xsl/1044_18880_ENA_HTML.htm

btw I'm not a CPA trying to promote it over CA, I want/have to become a CA (first).

 

[Smorter]

Thats very similar to what I have read on this accounting site

lol I was wondering if you were the same RedruM.

Ok I got busted if you want some more detailed differences click here: http://www.geocities.com/trekkieaccountant/ca_vs_cpa1.pdf
(Its a bit dated and I disagree with some of the views now)

 

[redruM]

I'm almost certain you are the trekkieaccountant?

Thats what I was referring to...


edit: (after reading previous post)

 

[waiter]

The Irony:

Vocal supporters of the CA = Big 4 External Auditing Hopefuls = those hoping to tick and bash = short sighted 'keeping up with the joneses' fools.

Keep chasing your dreams fools.

 

[turtleface]

audit isn't tick and bash, tahts just what vacationers and grads do

 

[Casmira]

if you are aiming to do investment banking would CPA/CA be fairly useless?

 

[volition]

yeah i reckon it would be

 

[turtleface]

if you are aiming to do investment banking would CPA/CA be fairly useless?

ah i reckon it would be

no it's useful, see this topic: http://community.boredofstudies.org/462/commerce-business/111927/ibers-wont-get-away.html

if you can't be bothered clicking on it, basically Macquarie's IBD out of a few hundred bankers about 50 are currently doing in the CA program . This obviously doesn't include people who already have the CA. Although Macquarie isn't the only ibank out there I'm sure the others are similar.

I mean, lets face it Accounting = Finance in most regards. Accountants work as IBankers, Equity Analysts, Traders etc.

 

[waiter]

audit isn't tick and bash, tahts just what vacationers and grads do

HAHAHHAHAHAHAH...... please....

 

[dum_di_dum]

Do the FCE let you shorten your B Com degree to less than 3 years, if you attend summer and winter sessions?

 

[Casmira]

so that basically means i want to major in business law / finance is futile because i want to aim for CA? i have too give up business law for accounting?

 

[blackfriday]

well getting a CA implies you want to be an accountant (it's not called 'the institute of chartered accountants' for nothing) and most probably one in a big four firm. accounting and business law are really good majors to do together because many aspects of those fields overlap.

 

[turtleface]

HAHAHHAHAHAHAH...... please....

audit is about forming an opinion using professional judgement, its just that because of the recent shite theres an increasing amount of regulation. audit would have to be one of the most regulated professions by far

what do u base ur opinions on anyway? u seem so cynical. just cause they got you to do some ticking during your work experience doesn't meant that that is all audit involves
__________

Casmira it depends on what you want to do. (I think you said you wanted to do Ibanking) Besides there is no longer a need to do an Accounting Major to become a CA, you can easily do conversion courses or masters later on, which can be paid for by your company. dont get me wrong I don't mean to be an Ibanker you have to do a CA, thats ridiculous, its just that many Ibankers do do a CA.

well getting a CA implies you want to be an accountant (it's not called 'the institute of chartered accountants' for nothing)

accounting nowdays entails much more. Its no longer about being an "Accountant". There are fewer and fewer people who are called Accountants. Nowdays Accountants are called "Business Analysts", "Finance Directors", "Financial Controllers", "Planning Analysts", "Liquidators", "Administrators", "Auditors" and so on... but it is impossible to define accounting to emcompass all its disciplines and areas of specialisations. if anyone can define what accounting is in a few sentences at most, i'll glady transfer 20 bucks to your bank account. (ok i wont but anyway...lol

 

[Casmira]

yeh but i mean it wouldnt hurt too have a CA as well as intention to do investment banking? you speak of onversion courses/masters later on... if i chose too do them now would it compromise my bus law/finance major im aiming for?

 

[waiter]

audit is about forming an opinion using professional judgement, its just that because of the recent shite theres an increasing amount of regulation. audit would have to be one of the most regulated professions by far

hey kid, congratulations on remembering your auditing 1000 definitions... finals coming up soon, so you seem to be in shape.

what do u base ur opinions on anyway? u seem so cynical. just cause they got you to do some ticking during your work experience doesn't meant that that is all audit involves

lol so you actually did work experience at a big 4 firm? hahahah and you suddenly think you know everything?? HAHAHAHHAHA.... fkn turd.

It's absolutely hilarious listening to wide-eyed enthusiastic fools like you who believe and swallow everything. I highly recommend you to get some life experience and see the real world before feeding bullshit to others.

But now now. It's ok. You don't have to go out of your way to justify your chosen profession on a forum, to make yourself feel better in real life.

 

[turtleface]

hey kid, congratulations on remembering your auditing 1000 definitions... finals coming up soon, so you seem to be in shape.

For the record I'm in 2nd year so I've not got up to the subject yet. I'm really looking forward to it though.

lol so you actually did work experience at a big 4 firm? hahahah and you suddenly think you know everything?? HAHAHAHHAHA.... fkn turd.

thats why i openly admitted that only vacationers/grads do ticking (or in my case i did some stuff for the marketing dept. cause audit was so overstaffed with students) I base my opinions on observing the work of partners and the managers who deal with the more professional judgement issues. I was lucky enough to also observe an independence issue pan out and eventually resolve. And not just the 1 work experience. Unlike you, I've put some research into auditing asking lecturers who were former auditors about it, asking Accountants at other work experience places I've been at etc.

Where do you get your experience? Sounds like you're not even talking about Financial audits, more like the food temperature and safety audits they do subject me to at safeway(Woolworths in Victoria) (regularly I might add). Memo: those dudes aren't accounting auditors

Get your facts straight before you come and bag other people for being clueless.

It's absolutely hilarious listening to wide-eyed enthusiastic fools like you who believe and swallow everything. I highly recommend you to get some life experience and see the real world before feeding bullshit to others.

thanks, but I'll think I'll stick to my supposidly fake world I'm in right now and go play with my fairies rather than go into your supposed "real" world where audit is bullshit, uni education is theoretical bullshit and the only thing that isn't bs is lining up at centrelink .

But now now. It's ok. You don't have to go out of your way to justify your chosen profession on a forum, to make yourself feel better in real life.

I agree, but unfortunately it has to done to defend auditing from the bs that people like you, who I know believe actually has no clue about it, concocts.

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Edit: Casmira, you should be able to fit an Accounting Major in with Finance and Bus Law. You can at my uni, but I'm not sure with yours.
CA Conversion courses are done after you find a job I think, and decide you want to do a CA without an Accounting major.
There is now an option to do a Non Accounting major and still be eligible for the CA program. They ask you to do a CA diagnostics test, and then they force you to do a few courses in areas where you fail the test on. Its probably best to call the ICAA admissions dept and ask them about this. The reason the ICAA is allowing non accounting majors now is cause they realised they were losing a lot of potential good members with the accounting major restriction.
It doesnt hurt to have a CA for Ibankers and a lot of them do, but don't ever feel you have to get one to get in. Most people don't. If you want to do IBanking do your finance/bus law (and maybe honours if you miss out first time). If you do an Accounting major as well, you can use it as a backup to get into an accounting job, do your CA, and try for IBanking again through that route. Or you can go straight onto a MBA. But that'll mean about 8 yrs at uni. But all this stuff I'm saying is from a melb uni point of view, its best to check with your local depts.

 

[waiter]

lol dumbass

did you ever think you were debating against someone who worked in the big 4? as it, told your sorry work experience ass what to do?

hahah dumbass.


hahahaha listen to you go on and give people career advice... WHEN YOU ARE A SECOND YEAR STUDENT IN UNI... HAHAHAHAHAH

This is gold.

 

[waiter]

yeh but i mean it wouldnt hurt too have a CA as well as intention to do investment banking? you speak of onversion courses/masters later on... if i chose too do them now would it compromise my bus law/finance major im aiming for?

If you don't want to be an accountant, don't bother becoming a Chartered Accountant. Spend your time wisely on other broader and more flexible qualifications.

If you think it will 'help you' in investment banking. Yes it will. So will a degree in communications, psychology, or any other losely related area of study.

 

[redruM]

do your CA, and try for IBanking again through that route.

Just out of curiousity, what exactly would this route be? Work in financial services departments at your firm, during your CA. Then apply at an investment bank (for what position though)?