ICAA or CPA? (1 Viewer)

[theone123]

CA is so called "better" im people's perpective is because its a lot harder than the CPA, thus lesser people would be able to attain such a qualification, hence more "pretigious". But CA require less subjects done for eligibility as compared to CPA. CA is not for everyone, the "toughness" of its course is undescribable. CA requires a 75% for a pass for their modules while CPA only need 60-65% pass rate.

So IMO i think both qualifications have their potential advantages, in particular fields of accounting one is better than another. For eg. CPA is good for finance aswell. (correct me if im wrong)

BTW has any known there is a third accounting qualification apart from CA and CPA? its called the National Institute of Accountants (NIA).

 

[Korn]

CA is so called "better" im people's perpective is because its a lot harder than the CPA, thus lesser people would be able to attain such a qualification, hence more "pretigious". But CA require less subjects done for eligibility as compared to CPA. CA is not for everyone, the "toughness" of its course is undescribable. CA requires a 75% for a pass for their modules while CPA only need 60-65% pass rate.

So IMO i think both qualifications have their potential advantages, in particular fields of accounting one is better than another. For eg. CPA is good for finance aswell. (correct me if im wrong)

BTW has any known there is a third accounting qualification apart from CA and CPA? its called the National Institute of Accountants (NIA).

Yeah ive heard of it but dont know much about it

 

[theone123]

same kinda thing but less popular

 

[§eraphim]

its not a qualification. i think anyone working in accounting can be a member - you dont need to be degree qualified. the institute does not offer any professional qualification.

 

[mr_shittles]

Hey, thanks for that..

Can i be an independant (my own company), practicing acctant wif a icaa not cpa...

Most practising accountants with their own small business are CPAs, however there are still a few CAs that do that sort of thing. If you go to the nearest account, most likely he or she will be a member of CPA Australia.

Most CAs and CPAs are degree qualified, in fact the CA is so rigourous that it is regarded as a "higher education qualification" in itself (equivalent to a tertiary course like a degree or diploma). The CPA is not.

NIA is for TAFE qualified accountants or bookkeepers. Basically, the requirements of CA and CPA is too much for them and because they don't have university degrees they do not end up attaining CA or CPA. NIA members are likely to be payroll officers, bookkeepers, etc. The don't usually end up working as "professional accountants" in big companies.

 

[kow_dude]

Mr Shittles mentioned that it takes 3 yrs to get the CA qualification. What about the CPA?

 

[Grizzly]

Most practising accountants with their own small business are CPAs, however there are still a few CAs that do that sort of thing. If you go to the nearest account, most likely he or she will be a member of CPA Australia.

Most CAs and CPAs are degree qualified, in fact the CA is so rigourous that it is regarded as a "higher education qualification" in itself (equivalent to a tertiary course like a degree or diploma). The CPA is not.

NIA is for TAFE qualified accountants or bookkeepers. Basically, the requirements of CA and CPA is too much for them and because they don't have university degrees they do not end up attaining CA or CPA. NIA members are likely to be payroll officers, bookkeepers, etc. The don't usually end up working as "professional accountants" in big companies.

Good info mate, thanks...rep for u

With CPA/CA, i heard u dont need to do these straight after you finish your degre....i.e, do either when working towards a managerial position..
e.g, u dont go and get an MBA after u finish ur BBA...usualy its done by those as managers or about to become one ...so they would have had years of experience in a company...

do u know wot i mean ? does it apply to profesional accounting ?

 

[Minai]

It depends on what the employers want though (I think), ie, some employers will want you to get your CA/CPA asap, and will even pay for it.

 

[mr_shittles]

Mr Shittles mentioned that it takes 3 yrs to get the CA qualification. What about the CPA?

I asked my manager at work today (who is a CPA) and he told me 3 years. There are six modules (three cores, three electives) and most people study one module per semester.

CA has five modules and usually you do a subject per semester when you start work. So you could complete your CA in just 2 & a 1/2 years

I'm not 100% certain on this info coz its just off the top of my head. Best thing to do is to call up the ICAA or CPA Aust and ask them. Anyways, we're still a few years away and by the time we get there things will change.

 

[mr_shittles]

Good info mate, thanks...rep for u

With CPA/CA, i heard u dont need to do these straight after you finish your degre....i.e, do either when working towards a managerial position..
e.g, u dont go and get an MBA after u finish ur BBA...usualy its done by those as managers or about to become one ...so they would have had years of experience in a company...

do u know wot i mean ? does it apply to profesional accounting ?

Thats true. you can wait a couple of years before gainig proff accrediatation. But why would you want to want to wait? Chartered or Certified qualifications add value to your career, improve your chances of getting employed and maintain your understanding of Accounting. These professional bodies change their rules from time to time, so its a good idea to begin your CA/CPA introductory modules as soon as you start work (ie. after you get your undergrad degree).

By the way Grizzly, thanks for you compliment, though I'm not a big fan of rep points ( they're pretty meaningless). I guess I cant really talk since I got none!

 

[mr_shittles]

It depends on what the employers want though (I think), ie, some employers will want you to get your CA/CPA asap, and will even pay for it.

Thats true. My brother works at a CA firm called Deloitte and they pay for his CA modules. It's around $950 per semester and most companies with grad programs/study support schemes will do likewise. If you fail the module, then the firm will not pay for it a second time. In fact, most smaller firms offer reimbursements (rather than upfront payment) and refuse to pay if you fail (for some reason, having to fork out 950 bucks is a really effective disincentive to fail!)

 

[Grizzly]

Thats true. My brother works at a CA firm called Deloitte and they pay for his CA modules. It's around $950 per semester and most companies with grad programs/study support schemes will do likewise. If you fail the module, then the firm will not pay for it a second time. In fact, most smaller firms offer reimbursements (rather than upfront payment) and refuse to pay if you fail (for some reason, having to fork out 950 bucks is a really effective disincentive to fail!)

Where do you undertake these CA modules / subjects ? At UNSW ?

So let me just clear one thing up ...
Doing all these subjects (that were posted by you(?) previously), (http://www.accounting.unsw.edu.au/n...leArea&maxWnd=_Future_ProfessionalRecognition) ..to gain professional recognition for ICAA, allow you to ENTER into the ICAA program, doing the extra modules etc ...not RECEIVE the status of being a CA.

 

[mr_shittles]

So let me just clear one thing up ...
Doing all these subjects (that were posted by you(?) previously), (http://www.accounting.unsw.edu.au/n...leArea&maxWnd=_Future_ProfessionalRecognition) ..to gain professional recognition for ICAA, allow you to ENTER into the ICAA program, doing the extra modules etc ...not RECEIVE the status of being a CA.

Yep that's right Grizzly, to become a CA you must have BOTH the following:
1. Completed an accredited degree course with a speciofied sequence of subjects (eg. a BCom degree at UNSW with Accounting major + 4 business law/tax subjects+ business finance)
2. Successfully passed ALL FIVE modules in the CA programs
3. Completed the minimum work experience required (I think this is two yearsunder the supervision of a CA)

Once you've done that, you can be a CA.

 

[Minai]

Mmm, I always see people in business suits at the state library after work studying thick CA folders. I guess it doesn't end after you graduate!

 

[Korn]

Thats true. My brother works at a CA firm called Deloitte and they pay for his CA modules. It's around $950 per semester and most companies with grad programs/study support schemes will do likewise. If you fail the module, then the firm will not pay for it a second time. In fact, most smaller firms offer reimbursements (rather than upfront payment) and refuse to pay if you fail (for some reason, having to fork out 950 bucks is a really effective disincentive to fail!)

Are u sure its 950 a semester, thats pretty cheap

 

[mr_shittles]

Are u sure its 950 a semester, thats pretty cheap

To do CA in Australia in 2004/05, it costs exactly $920 (GST free) per module and $1120 (GST free) if you do it in Malaysia or Singapore.

Its cheap in terms of the value it adds to your career. But if you're one of those people without a lazy grand sitting in your bank account, it does look a bit expensive.

 

[Korn]

To do CA in Australia in 2004/05, it costs exactly $920 (GST free) per module and $1120 (GST free) if you do it in Malaysia or Singapore.

Its cheap in terms of the value it adds to your career. But if you're one of those people without a lazy grand sitting in your bank account, it does look a bit expensive.

Yes, but you will have already been working b4 u start doing the course, and compared to Uni, its cheaper