Need advice! Acca or sim rmit degree?

[SG-xLeox]

Let me clear some air here.

First - I think its a good discussion we are having. It is a good thing that young student are concern with their career and exploring alternative in the accountancy studies ahead.

Professional Certification
Conclusion: According to the new pathway map shown on ISCA website, to obtain CA Singapore, everyone (not covered by the transitional arrangement) will have to go through SQP, unless you are a full member of professional accountancy body that has Reciprocal Membership Agreement (RMA) with ISCA.

http://isca.org.sg/become-a-member/pathways/

At present, ACCA does not have RMA with ISCA.
So, nothing to compare here. Both ACCA or Degree route, requires SQP.
If ACCA does get the RMA with ISCA, we can discuss that when that day happen....

Difficulty of Exams
Lets just end here that each exams has their own difficulties.
Nothing much to debate about since they are of different nature.

Obtaining a Job / Salary Comparison
I think it is really stupid to compare Degree vs ACCA at chances on job securing or how much salary each can generate. Go be your own boss, you earn much more that way.

Nothing in life is equal or fair.

There are so many other factors to be considered.
(Your past employment, your education, you connections, your looks also plays a part on how much salary you will be paid)

Alternative Career Path
100% - Degree is much better. They have a better coverage of business modules while ACCA is very specialised.

Degrees holders does end up in jobs that has lesser relevance in their studies.

It is quite uncommon to see ACCA graduate going into, say Marketing or becomes a Supply Chain Specialist.


Okay hope everybody is happy ^^

 

[Kyoji83]

Thing started to get more complicated.

To become a Doctor, Professional Engineer & etc, one needs an academic qualification such as MBBS & BEng to get practicing certificate. Does these academic qualification consider professional qualification?

There is a lot of IT professional qualification such as CCNA. However with those IT professional qualification but without a academic qualification like a degree, it is hard to get employed. To make things worst, you don't needs those IT professional qualification to perform the tasks. So is CCNA & etc really a professional qualification?

In short, what is a professional qualification?

Err...How to compare ACCA with degree ?

One is professional qualification (certification), one is academic qualification (certification)...

No ?

 

[needreader]

Thing started to get more complicated.

To become a Doctor, Professional Engineer & etc, one needs an academic qualification such as MBBS & BEng to get practicing certificate. Does these academic qualification consider professional qualification?

There is a lot of IT professional qualification such as CCNA. However with those IT professional qualification but without a academic qualification like a degree, it is hard to get employed. To make things worst, you don't needs those IT professional qualification to perform the tasks. So is CCNA & etc really a professional qualification?

In short, what is a professional qualification?

Kyoji, most of the people in my profession feel that ACCA is a professional qualification. In fact, I got my current job because of my ACCA qualification. I also do not have any other degrees and CA qualification at that point of hiring. Perhaps I am lucky when I submitted my job application? FYI, I received about 3 job offers before I take up this current position.

The way you sound, seems like ACCA qualification without any other degree is hard to get employed.

 

[Hymnody]

interesting read between professionals vs an ex-hr who does not recruit in the accountancy field.

 

[Kyoji83]

Correction. I am not a recruiter from accounting industry however I do direct hiring for accounting related jobs in both SME & MNC which candidates do come from big4 organizations. I think what is interesting are what recruiter & hiring manager look out for candidates to fill the position.

interesting read between professionals vs an ex-hr who does not recruit in the accountancy field.

 

[Kyoji83]

My view is to have a degree is to be a generalist & have more various of jobs while to have an ACCA is to be a specialist focus on accounting related jobs (of course, accounting can lead to finance & etc jobs too). So this mean both degree & ACCA are able to get jobs.

I know that most of the people in your profession feel that ACCA is a professional qualification however people from IT industry also feel that qualification like CCNA is a professional qualification too.

My debate topic here will be what is a professional qualification & what kind of qualification should fall under professional qualification?

Kyoji, most of the people in my profession feel that ACCA is a professional qualification. In fact, I got my current job because of my ACCA qualification. I also do not have any other degrees and CA qualification at that point of hiring. Perhaps I am lucky when I submitted my job application? FYI, I received about 3 job offers before I take up this current position.

The way you sound, seems like ACCA qualification without any other degree is hard to get employed.

 

[Tentacles]

I suppose it sums up as it will be more advisable to enroll into unisim if I am able to get a placing. Else I'll have to wait till March for news that ACCA holders being able to qualify for CA title?

Sent from nope using GAGT

 

[Nicholas92]

I see the date "March 2016" used a lot, so just to clear this up:

March 2016 refers to the expected opening of New Associate Pathway to ISCA.

If you're talking about ACCA to CA(Sg), the MRA is expected to come in December 2016. This is as per the FAQ updated March 2015.

Link: http://www.accaglobal.com/content/dam/ACCA_National/sg/stu/FAQs (As of 19 March 2015) - USE THIS.pdf

The new expanded Pathway:
http://isca.org.sg/become-a-member/pathways/new-associate-pathway/

 

[itachisama]

I see the date "March 2016" used a lot, so just to clear this up:

March 2016 refers to the expected opening of New Associate Pathway to ISCA.

If you're talking about ACCA to CA(Sg), the MRA is expected to come in December 2016. This is as per the FAQ updated March 2015.

Link: http://www.accaglobal.com/content/dam/ACCA_National/sg/stu/FAQs (As of 19 March 2015) - USE THIS.pdf

The new expanded Pathway:
http://isca.org.sg/become-a-member/pathways/new-associate-pathway/

RMA might not be fully mapped like ACCA/ICPAS JES previously. Most likely similar to Hongkong QP as what was mentioned in previous posts.

There is a reason why ISCA wants to be part of CA Worldwide whereby ACCA is not a member.

At the end of the day, as the private education has more and more competitive different accounting bodies will try to be aggressive and attractive to prospective students. Just do your own due diligence and then stick to it.

 

[Hymnody]

My view is to have a degree is to be a generalist & have more various of jobs while to have an ACCA is to be a specialist focus on accounting related jobs (of course, accounting can lead to finance & etc jobs too). So this mean both degree & ACCA are able to get jobs.

I know that most of the people in your profession feel that ACCA is a professional qualification however people from IT industry also feel that qualification like CCNA is a professional qualification too.

My debate topic here will be what is a professional qualification & what kind of qualification should fall under professional qualification?

i dont speak for non accountancy, but to me, as long as need to fulfil cpe, it is a professional qualification

 

[Kyoji83]

What is CPE? Continuing Professional Education? Council for Private Education?

i dont speak for non accountancy, but to me, as long as need to fulfil cpe, it is a professional qualification

 

[Hymnody]

What is CPE? Continuing Professional Education? Council for Private Education?

continuing professional education - maintain x hours per year bla bla

 

[Kyoji83]

Icic. For me, I don't feel that CPE courses are consider professional qualification because it does not help you to get practicing certificate but only help you to maintain practicing certificate.

Seem like CPE courses for accounting are related however if you talk about CPE courses for engineering, there are a lot of crap courses that are not related to engineering & PE attend it just for the sake of maintaining the practicing certificate & not for skill & knowledge related to professional practice.

continuing professional education - maintain x hours per year bla bla

 

[Shion]

Maybe ACCA and degree holders can stand one side next time

http://forums.hardwarezone.com.sg/d...tes-become-qualified-accountants-5254360.html

 

[Biogentic]

as far as employment is concerned.. i don't think it is that important in term of which professional accountancy body you belong to. the working experience is far more important than whichever membership you hold. however strictly in term of prestige, it is no doubt that Chartered Accountant has a better reputation worldwide than CPA or ACCA but not all chartered accountant membership has the same prestige. Those CA members from ICAEW, ICAA, ICAS are better recognised worldwide but chartered accountant like ICAI don't seems to be that good. In term of membership number, ACCA has the most number of members as such is more well known globally.
anyway, be it whether you are the holder of ACCA only or holder of a bachelor degree only. in some point of your career you still need to upgrade yourself by getting a master if you are an acca holder or a professional qualification if you are a bachelor degree holder. given that the government has open up the flood gate for accounting, it is difficult to survive with just an accounting qualification be it in BSC or professional qualification. as such, it is quite pointless to discuss which is better since at the end of day, we need get both

 

[Kyoji83]

I think no point of paper chasing to get a Master degree since majorly of the jobs do not demand for it. By the time we get a Master degree, job market are already flooded with Doctorate degree holders. However I do support upgrading or new skill & knowledge to keep ourselves comparative advantage.

as far as employment is concerned.. i don't think it is that important in term of which professional accountancy body you belong to. the working experience is far more important than whichever membership you hold. however strictly in term of prestige, it is no doubt that Chartered Accountant has a better reputation worldwide than CPA or ACCA but not all chartered accountant membership has the same prestige. Those CA members from ICAEW, ICAA, ICAS are better recognised worldwide but chartered accountant like ICAI don't seems to be that good. In term of membership number, ACCA has the most number of members as such is more well known globally.
anyway, be it whether you are the holder of ACCA only or holder of a bachelor degree only. in some point of your career you still need to upgrade yourself by getting a master if you are an acca holder or a professional qualification if you are a bachelor degree holder. given that the government has open up the flood gate for accounting, it is difficult to survive with just an accounting qualification be it in BSC or professional qualification. as such, it is quite pointless to discuss which is better since at the end of day, we need get both

 

[Shion]

I guess this field will get even more saturated in the future...

 

[Waikit91]

Aca, the world's premier accounting qualification.RMA worldwide except for Japan.
Acca, the only qualification that allow up to 12 modules exemption(depending on which option papers u took) for Aca.
Sqp, u go to hong kong or US. They ask you what is SQP. Acca and Aca existed more than a hundred years to gain its recognition and reputation.
It all depends on whether u want to venture overseas or not.
Alternative route for people in Acca hoping to attain CA Singapore, after your Acca papers, go for Aca. 3 more modules plus open book (very similar to p2 and p3) I don't see why u can't pass if u completed your Acca.
After Aca, u can basically register with hkicpa, aicpa, isca. Anywhere you want, full recognition.
U take SQP, one place only. Singapore. It will eventually be like Aca, full recognition with the top financial hub. (Aca took a century, however with advanced technology, maybe 50 years will do) hahaha, just kidding.

 

[xtuzki]

Tentacles, i was in the same dilemma as u few weeks ago. But i decided to accept the sim rmit offer first.

These are just my opinions so please take it lightly:

Reason being the Acca to CA news/agreement thing is still underway. By the time the news is out, I'll probably be halfway through my degree already.
Secondly, i wasn't really sure if i will stick to being an accountant so the degree will be a "safer" bet as in i can apply for general jobs that requires at least a degree (though pay wise will not be as good as specialized jobs). Btw, im enrolled in rmit accountancy though.
But then again the paper will just be a stepping stone to the start of your career so along the way what matters is the experiences. I have a friend with private diploma in biz accountancy or something, starting pay 2k, worked 4 months, changed to another job with 2.4k pay. All happened this yr.
Thirdly, i was previously in sim uol but the 100% exam based thingy wasnt really suitable for me (yes, i failed my exams and retaking takes another year of waiting) so considering the fact that ACCA is similar to being 100% exam based (though they have 4 exam sittings per yr now), i decided that rmit will be more comfortable for me.

Why i mentioned degree being a "safer" bet was because likewise i hold a diploma in engineering, so if lets say i didnt manage to finish my ACCA (probably halfway of lvl 2), i will end up in a situation of diploma in engg + acca lvl 1? That might be a little tough to look for a biz/acct related job though. Im not implying the rmit degree will be easy but at least its not graded 100% on a paper. Afterall, if u think u are a good learner and very self disciplined and have good time management, u can give ACCA a try then.

My plan is to complete the degree, get a job, pay back bank loan and slowly upgrade. Either i move towards ACCA or SQP, i have no idea yet. SQP sounds really tough plus local accountancy grads have an edge over private grads.

I'll just say again..it's my opinion only. Take it lightly guys