Degree VS ACCA

[hozhijie]

Hi hwz members, I would need some of your advice for the following matters.

Right now I am in the Army which I will ORD in September 2016. I have 0 knowledge of Accountancy(Except Principles Of Accounts in secondary school) but I have a great interest in my future career as an Accountant.

I did quite a bit of reaearch on ACCA recently and found out that if I complete the following:

Foundation Level Qualification
FA1,MA2,FA2,MA2,FAB,FMA,FFA
- With these 7 papers pass I could get myself a Diploma in Accountancy & Business.


ACCA Qualification

Fundamental Level
F1 - F9
- These 9 papers could get me an Advance Diploma in Accountancy & Business.
- In Addition with 'Research & Analysis Project' I could actually get a degree of BSc (Hons) in Applied Accounting.

Professional Level
P1 - P3
P4 - P7 (Choose 2)
*With 3 years work experience that is relevant*
- I will officially 'graduate' from ACCA


I am actually planning to take the Foundation Level Qualifications paper OTOT during my NS time. But I am in a dilemma on whether I should go on and take a degree in RMIT/UOL under SIM Global after i ORD or should I just start working with the diploma that I will get from ACCA and just continue the ACCA qualification as I work.

My career goals in life is to hit a monthly salary of at least $10,000 by the age of 33(21YO as of 2015). It may seems that I have very high hopes for myself or something but i trust that my character will be able to bring me there if I put in everything I have. I just need someone to give me some guides on the path I need to take to be able to reach my goals.

Please pardon me of I gave any information above wrongly.

 

[systeo]

diploma qualification

hi hozhijie

there are many ways to earn 10k .

if ur grades can qualified you to enter polytechnic. best choice is to go into poly diploma. polytechnics in singapore is considered world class internationally, 3 years of learning experience with strong support. heavily subsidies by government so ur investment is minimal. polytechnic also provides internship to give u exposure to the working world.

with a poly dip , even if you decide to switch job / career even if you decide accounting / finance is not for u . you can easily upgrade to a final year degree in marketing, business or management degree

========

if ur grades doesnt qualified for poly or u are really determine to just get a qualification asap then consider the private education route where u can get a degree or ACCA . but you must note that ACCA is examination focus over 3 years and if u failed one stage, u will have to resit for 1 year.

ACCA and degree are recognized qualification but the cost and investment is alot heavier than polytechnic and the support you get from private education even in SIM will not be better than Polytechnic

just my 2 cents worth either way, investment in education and in yourself will never go wrong but it is not an easy choice . the final decision still lies with u

 

[hozhijie]

hi hozhijie

there are many ways to earn 10k .

if ur grades can qualified you to enter polytechnic. best choice is to go into poly diploma. polytechnics in singapore is considered world class internationally, 3 years of learning experience with strong support. heavily subsidies by government so ur investment is minimal. polytechnic also provides internship to give u exposure to the working world.

with a poly dip , even if you decide to switch job / career even if you decide accounting / finance is not for u . you can easily upgrade to a final year degree in marketing, business or management degree

========

if ur grades doesnt qualified for poly or u are really determine to just get a qualification asap then consider the private education route where u can get a degree or ACCA . but you must note that ACCA is examination focus over 3 years and if u failed one stage, u will have to resit for 1 year.

ACCA and degree are recognized qualification but the cost and investment is alot heavier than polytechnic and the support you get from private education even in SIM will not be better than Polytechnic

just my 2 cents worth either way, investment in education and in yourself will never go wrong but it is not an easy choice . the final decision still lies with u

Hi I currently hold a Diploma in Information Technology so I don't think it is very feasible for me to get a Diploma from any of the Polytechnics anymore.

Right now my initial plan was to just enrol into RMIT/UOL and take a degree. But after I did research on ACCA, they seems to be able to provide me with Dip,Adv Dip & Degree. So I do not know whether I should just rely on ACCA Qualifications alone or should I continue to take my degree in RMIT/UOL.

I do not know which is better for me in terms of my future career aspects. I hope you can give me more info.

P/S Can you explain a little more to me about the resit for one year if i fail my exams? I don't quite get it.

 

[simon_84]

P/S Can you explain a little more to me about the resit for one year if i fail my exams? I don't quite get it.

in short, it means if you failed one module, similar like UOL, you will spend 1 whole year just to prepare the module again.
and it will delay your module completion by a year.

tbh, not many ppl can hit 10k by that age especially if your role is of cost center nature.
even the most talented personal at most hit 5 ~ 8k range, the moment you start working, you more or less will know the market rate.

 

[intime]

Hi I currently hold a Diploma in Information Technology so I don't think it is very feasible for me to get a Diploma from any of the Polytechnics anymore.

Right now my initial plan was to just enrol into RMIT/UOL and take a degree. But after I did research on ACCA, they seems to be able to provide me with Dip,Adv Dip & Degree. So I do not know whether I should just rely on ACCA Qualifications alone or should I continue to take my degree in RMIT/UOL.

I do not know which is better for me in terms of my future career aspects. I hope you can give me more info.

P/S Can you explain a little more to me about the resit for one year if i fail my exams? I don't quite get it.

RMIT locally in Singapore is a basic degree, non honours.
UOL branding is diluted, as it can be registered online without a teaching institution.

There is no clear indications of how future ACCA graduates can obtain Chartered Accountant of Singapore (CA) designation, which in turn allow you to register as a Public Accountant.
Current transitional arrangements for ACCA to obtain CA,
- http://isca.org.sg/become-a-member/pathway-to-be-a-ca-singapore/transitional-arrangements/

Recommended that you aim to apply UniSIM part-time Accountancy. You will skip SQP foundation and go straight into professional programme to obtain CA designation.
- http://www.singaporeqp.com/join-us/entry-requirements
If not any recognised 3 year degree will do, to register for SQP foundation programme.

You will realise many accountancy jobs locally or globally requires you to be a CA of that country.

As for purpose of becoming a public accountant,
- https://www.acra.gov.sg/components/wireframes/howToGuidesChapters.aspx?pageid=1492

 

[Biogentic]

Hi I currently hold a Diploma in Information Technology so I don't think it is very feasible for me to get a Diploma from any of the Polytechnics anymore.

Right now my initial plan was to just enrol into RMIT/UOL and take a degree. But after I did research on ACCA, they seems to be able to provide me with Dip,Adv Dip & Degree. So I do not know whether I should just rely on ACCA Qualifications alone or should I continue to take my degree in RMIT/UOL.

I do not know which is better for me in terms of my future career aspects. I hope you can give me more info.

P/S Can you explain a little more to me about the resit for one year if i fail my exams? I don't quite get it.

if you will to ask me, be it RMIT/UOL/ACCA, it is not really that important which one to get to secure a better future. It is the job experience that is going to determine the outcome. I just find that ACCA graduates are stronger in accounting than UOL/RMIT but as your job experience grows, this should be immaterial.
BTW, I am an ACCA grad and do met RMIT grad who do pretty well and was my manager, i also met ACCA grad who are CFO/AVP, etc.

 

[hozhijie]

if you will to ask me, be it RMIT/UOL/ACCA, it is not really that important which one to get to secure a better future. It is the job experience that is going to determine the outcome. I just find that ACCA graduates are stronger in accounting than UOL/RMIT but as your job experience grows, this should be immaterial.
BTW, I am an ACCA grad and do met RMIT grad who do pretty well and was my manager, i also met ACCA grad who are CFO/AVP, etc.

Hello there! So for you did you went for any degree courses other than ACCA Qualification? How does the company actually judge your qualification level? E.g. Do they took you as a degree holder, or.. etc..

How are you doing so far in the corporate world with your ACCA Qualification?

I am having dilemma between Degree or just ACCA Qualification because I heard some people saying that even after having a degree I would still need to go on and take ACCA, & if ACCA can provide me with a Dip, Adv Dip & Degree, then I was thinking I might just as well rely on ACCA straight away. There are some thoughts that I have and I cannot decide on..

 

[intime]

Hello there! So for you did you went for any degree courses other than ACCA Qualification? How does the company actually judge your qualification level? E.g. Do they took you as a degree holder, or.. etc..

How are you doing so far in the corporate world with your ACCA Qualification?

I am having dilemma between Degree or just ACCA Qualification because I heard some people saying that even after having a degree I would still need to go on and take ACCA, & if ACCA can provide me with a Dip, Adv Dip & Degree, then I was thinking I might just as well rely on ACCA straight away. There are some thoughts that I have and I cannot decide on..

If you look at the accountancy-related job requirements of the Big 4 in SG, you will generally see at least 2 basic requirements, an accountancy/business/finance degree AND a professional qualification - Chartered Accountant of Singapore (CA).

Some may list a range of professional qualification eg, ACCA, CIMA, ACA.

For professional qualification, if you intend to practice globally, don't overly depend on just ACCA. ACCA is based in UK, it may not have mutual recognition with some countries' accountancy body.
So if you have time, you can consider collecting professional qualifications, else just a CA will do in SG.

 

[da_dum_tss]

hi hozhijie

there are many ways to earn 10k .

if ur grades can qualified you to enter polytechnic. best choice is to go into poly diploma. polytechnics in singapore is considered world class internationally, 3 years of learning experience with strong support. heavily subsidies by government so ur investment is minimal. polytechnic also provides internship to give u exposure to the working world.

with a poly dip , even if you decide to switch job / career even if you decide accounting / finance is not for u . you can easily upgrade to a final year degree in marketing, business or management degree

========

if ur grades doesnt qualified for poly or u are really determine to just get a qualification asap then consider the private education route where u can get a degree or ACCA . but you must note that ACCA is examination focus over 3 years and if u failed one stage, u will have to resit for 1 year.

ACCA and degree are recognized qualification but the cost and investment is alot heavier than polytechnic and the support you get from private education even in SIM will not be better than Polytechnic

just my 2 cents worth either way, investment in education and in yourself will never go wrong but it is not an easy choice . the final decision still lies with u

i may want to correct one part. You dont have to wait 1 year to resit acca papers. as of today, it is a 6 months exam cycle..meaning June and Dec 2015. But starting 2016, it will be quarterly. so effectively, we are looking at resitting in 3 mths time.

 

[da_dum_tss]

RMIT locally in Singapore is a basic degree, non honours.
UOL branding is diluted, as it can be registered online without a teaching institution.

There is no clear indications of how future ACCA graduates can obtain Chartered Accountant of Singapore (CA) designation, which in turn allow you to register as a Public Accountant.
Current transitional arrangements for ACCA to obtain CA,
- http://isca.org.sg/become-a-member/pathway-to-be-a-ca-singapore/transitional-arrangements/

Recommended that you aim to apply UniSIM part-time Accountancy. You will skip SQP foundation and go straight into professional programme to obtain CA designation.
- http://www.singaporeqp.com/join-us/entry-requirements
If not any recognised 3 year degree will do, to register for SQP foundation programme.

You will realise many accountancy jobs locally or globally requires you to be a CA of that country.

As for purpose of becoming a public accountant,
- https://www.acra.gov.sg/components/wireframes/howToGuidesChapters.aspx?pageid=1492

UniSIM Accountancy is good and yes, can get you into the professional level of Singapore QP direct. but do note you are fighting for 200 seats (shared amongst all 3 UniSIM full time degrees) which is very competitive. Moreover it is now a Joint Admission with all other local uni. which means you can only do so after you ORD. This programme will be 4 years. do your math.
ORD + UniSIM + ACCA P papers= 2+4+1.5?
ORD + UniSIM + SQP = 2+4+3

 

[Ch3tah_39]

Dont bother abt ACCA, useless. Leave u not here not there dont bother. Waste time waste money loll

 

[da_dum_tss]

Dont bother abt ACCA, useless. Leave u not here not there dont bother. Waste time waste money loll

?????????????
you gotta be kidding right?

 

[xXboxXx]

ACCA holder here. Qualification do not matter that much as most employers are open to hiring people from any universities, private or govt. I agree with Biogentic that at the end of the day it is working performance that determines your career path in the next 10-20 years.

In today's perspective, in terms of securing a job, there is no huge difference between SIM/UOL & ACCA. UOL or ACCA will not determine your promotion in the work place, or bonus you will collect through out the years.

 

[Ch3tah_39]

ACCA holder here. Qualification do not matter that much as most employers are open to hiring people from any universities, private or govt. I agree with Biogentic that at the end of the day it is working performance that determines your career path in the next 10-20 years.

In today's perspective, in terms of securing a job, there is no huge difference between SIM/UOL & ACCA. UOL or ACCA will not determine your promotion in the work place, or bonus you will collect through out the years.

cannot get job in the first place how to have a career ne?

 

[da_dum_tss]

cant get jobs with ACCA? How is that even possible. Firms are hiring, private sectors are also hiring finance personnel. An accountant is also highly sought after in other aspects of any business for the fact that they can be groomed to management level.
Hence, this generalisation is not very healthy for someone planning to get into the industry.

As an employer myself who have been with EY, public and private sector over the years, i will always prefer a specialist over a generalist (i.e. a marketing major for marketing jobs over a business mgmt graduate). As for accountancy, a degree is simply not sufficient (however you deny it), both short and long term. You WILL need a professional title as you progress on in your career. As an employer, if both candidates are equal, i will take the acca/cpa aus/cima/sqp/aca holder simply for the fact that i know i need not bother about funding him/her for a prof qualification in time to come. also it boost the credibility of the team when negotiating with client.

Yes, of course there are acca fresh grad with sky high expectations and only apply for the big4s, financial institutions and multinational banks without doing research on their recruitment seasons. Even if you are a degree fresh grad, you could be in the same plight for being an idealist.

 

[da_dum_tss]

I totally agree that performance is far more important than what papers you have, but this is not something you can relate or have control now. If you have a choice, of course go for the better "passport".

Do yourself a favour and think wisely. You are comparing acca with uol/rmit. sorry to say, but the latter are mediocre in this industry, you shouldnt even be contemplating so long since the answer is obvious.

i'd fully understand if you are telling me you're getting sleepless nights if you have to choose acca vs NUS/NTU acc. Or even acca vs a degree opportunity with a top tier overseas degree which will take you 4 years (after NS) hence the time risk factor against your beautifully crafted 7-10 year plan.

 

[Ch3tah_39]

Eh sometimes is not never research e.g. kpmg put graduate associate 2015 closed at 31/8/15. But also in their website, ACCA students job opening open in nov - jan.

How? Mid tier ppl say open all year round, no reply so sometime also dunno what where wrong? Sky high expectation no ba

Advice is small firm worth joining as a career starter?

 

[da_dum_tss]

Eh sometimes is not never research e.g. kpmg put graduate associate 2015 closed at 31/8/15. But also in their website, ACCA students job opening open in nov - jan.

How? Mid tier ppl say open all year round, no reply so sometime also dunno what where wrong? Sky high expectation no ba

Advice is small firm worth joining as a career starter?

i'd advice if still have the chance is to start working as an intern while studying acca (if you are doing it full time), perform well and get converted to perm. As for mid and small tier, no harm entering as a career starter, the point is to start first and if opportunity comes, take calculated risk.

As for recruitment season, yes...ACCA at least will have its own intake along with other prof certs. Going for an RMIT/UOL degree will make you look small amongst the top tier degree grads during grad assoc intake.

Next, Big4s have refer a friend scheme (employee will get incentive). So get to know someone there and get yourself referred in. This is quite frequent. EY confirm does that. i referred my cousin in that way.

Another way into Big4s is going through your schools since some of them have arrangement with them.

ACCA also have their annual internship programme of which you apply and acca review and select. Could be the 4s or mid tier or any of their approved employer list.

As you can see, plenty of ways out there.
good luck all

 

[ZacharyA]

out of curiousity... can one bag home $10k @ the age of 33 even if he/she is in Big4? Manager / Senior Manager???


save as aforesaid, i think the arrangement for new applicants to be a CA (Singapore) is through SQP, which means a degree -> QP route... ACCA can't be converted into CA (Singapore) anymore (at least for now since there are no mutual reciprocal arrangements apart from transitional ones for existing students)


Unless TS don't intend to obtain CA (Singapore), then he can consider between ACCA / UOL / RMIT. Then again ironically, how to work in accountancy sector without being a CA and want to earn $10k by 33?

 

[da_dum_tss]

out of curiousity... can one bag home $10k @ the age of 33 even if he/she is in Big4? Manager / Senior Manager???


save as aforesaid, i think the arrangement for new applicants to be a CA (Singapore) is through SQP, which means a degree -> QP route... ACCA can't be converted into CA (Singapore) anymore (at least for now since there are no mutual reciprocal arrangements apart from transitional ones for existing students)


Unless TS don't intend to obtain CA (Singapore), then he can consider between ACCA / UOL / RMIT. Then again ironically, how to work in accountancy sector without being a CA and want to earn $10k by 33?

Lets bring another option to the table....ICAEW.
if you guys have been following SQP, you will know what it is modeled to ACA (ICAEW). The reason for singapore to go for chartered against certified title for our country is strategic, to be in CAWorldwide (go google) for intl recognition. ICAEW dont require degree, in fact a level can get in, acc diplomas get cert level exemptions, degrees get 7-12 exemptions depending on uni. ACCA and CPA gets up to 12 also. BPP University masters get 15 papers.....etc

The point is ACA and CA Singapore will VERY VERY VERY likely have full mutual agreement, which means there is a way to get CA singapore without degree. WHY the loophole? because ICAEW is working with Singapore Poly and acc diploma grads get whole lot of exemptions into the programme. so here's the backdoor route. (secrets revealed!!!!!!)

So ACCA still have hope to get CA Singapore. To top up with 3 more papers to get the coveted ACA title which will give you CA Singapore also.

BAMP! 3 "top" titles. THIS is how you should be planning your paper chase.