Degree VS ACCA

[ZacharyA]

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.

agree and respect the prestige of ACA by ICAEW but to obtain ACCA you will need about 2-3yrs, and then subsequently to be converted over to ACA takes another 5 years post ACCA + bridging / additional mods to be taken... At the same time, not sure if one is required to be with an ATE by then to fulfill all conditions to be converted. Need some ACAs to advise more info on this... and by then you will be able to obtain CA (singapore) upon full reciprocal arrangement by both bodies...

IMO its too long a route compared to degree -> SQP -> CA(Singapore) which is certain and confirmed route for now.

Btw, ICAEW annual membership fee is $800/year right?

 

[ufoate]

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?

answer is no. i work in a big 4. and only the upper ranks of the senior manager title get >10k. I think its a difficult plan to achieve in accountancy.. maybe TS should consider sales.

 

[prince_fan]

agree and respect the prestige of ACA by ICAEW but to obtain ACCA you will need about 2-3yrs, and then subsequently to be converted over to ACA takes another 5 years post ACCA + bridging / additional mods to be taken... At the same time, not sure if one is required to be with an ATE by then to fulfill all conditions to be converted. Need some ACAs to advise more info on this... and by then you will be able to obtain CA (singapore) upon full reciprocal arrangement by both bodies...

IMO its too long a route compared to degree -> SQP -> CA(Singapore) which is certain and confirmed route for now.

Btw, ICAEW annual membership fee is $800/year right?

Sorry to ts first, side track abit

just curious, does one really MUST be CA singapore to work in sg as an accountant?

 

[nitokit]

Sorry to ts first, side track abit

just curious, does one really MUST be CA singapore to work in sg as an accountant?

As an auditor, yes, if you want to get promoted.

Other than that, no.

 

[prince_fan]

As an auditor, yes, if you want to get promoted.

Other than that, no.

hi thanks for the reply.

well, with that, i think of ppl in this industry, would wanna work as an auditor. and with ACCA, it is not easy to become CPA, AS OF NOW, with rules from cpa singapore. and looking at international level, say i wanna migrate to australia in the future and become a CPA in aus, the affiliation program requires one to be CPA from singapore, so is it wiser to actually spend time get a degree from NUS/NTU/SMU/UniSim and proceed on to the Singapore QP?

 

[nitokit]

hi thanks for the reply.

well, with that, i think of ppl in this industry, would wanna work as an auditor. and with ACCA, it is not easy to become CPA, AS OF NOW, with rules from cpa singapore. and looking at international level, say i wanna migrate to australia in the future and become a CPA in aus, the affiliation program requires one to be CPA from singapore, so is it wiser to actually spend time get a degree from NUS/NTU/SMU/UniSim and proceed on to the Singapore QP?

No one can advise you now since SingaporeQP is still very new. The best route is to get a proper accountancy degree. Do not get a non-accountancy degree with SingaporeQP if you are determined in becoming an accountant, cause you will suffer during the few years studying the non-related degree.

 

[hozhijie]

Hi guys. Thank you for all of the information that you guys have provided in this thread.

I am getting very confused with all the SQP/ACA/ICAEW/CA that you guys are talking about. If possible, please give me more information about it. I would love to know more about it.

What I actually plan for my career is to be an Accountant after I get my rightful certification, and I may go on to explorer being an Auditor, but as of now I am not so sure of that since I do know the actual job scope of an auditor.

So right now there are few path in my mind.

ORD > Work as a SME bookkeeper/Accountant Assistant to get Experience + Get ACCA Certification(Inclusive Of a degree that ACCA provided) > Start my actual career.

ORD > Degree from RMIT/UOL/SIT + Get ACCA Certification at at the same time as I study(Inclusive Of a degree that ACCA provided) > Start my actual career.

So please provide me with more info about Accountant certification like SQP/ACA/ICAEW/CA So I would know which one I will need to achieve in order to be successful in this field.

Please feel free to give me more suggestion if you think there might be other alternatives in the route I have in my mind that will push me even further!

 

[intime]

Hi guys. Thank you for all of the information that you guys have provided in this thread.

I am getting very confused with all the SQP/ACA/ICAEW/CA that you guys are talking about. If possible, please give me more information about it. I would love to know more about it.

What I actually plan for my career is to be an Accountant after I get my rightful certification, and I may go on to explorer being an Auditor, but as of now I am not so sure of that since I do know the actual job scope of an auditor.

So right now there are few path in my mind.

ORD > Work as a SME bookkeeper/Accountant Assistant to get Experience + Get ACCA Certification(Inclusive Of a degree that ACCA provided) > Start my actual career.

ORD > Degree from RMIT/UOL/SIT + Get ACCA Certification at at the same time as I study(Inclusive Of a degree that ACCA provided) > Start my actual career.

So please provide me with more info about Accountant certification like SQP/ACA/ICAEW/CA So I would know which one I will need to achieve in order to be successful in this field.

Please feel free to give me more suggestion if you think there might be other alternatives in the route I have in my mind that will push me even further!

Since you are unable to understand the professional qualifications, please ignore those for now until you are capable of understanding.

Now what you have to do is aim for an accountancy degree in a singapore university, NUS, NTU, SMU, SIT, UniSIM (includes full-time/part-time accountancy).
- Then enter SQP Professional Programme after you graduate.
- Get employed in an Accredited Training Organisation (ATO) for 3 year practical exp.
- After you attain Chartered Accountant of Singapore from SQP, register with ACRA as a Public Accountant.

That's the End for your training pathway in Singapore.

If you wish to attain professional qualification in other countries, look up for their SQP-equivalent programmes on their accountancy bodies website. Example,
Australia - CA ANZ, CPA Australia, IPA
US - AICPA, CMA USA
And many more.

 

[hozhijie]

Hi, how about RMIT/UOL Degree certificates? There are conflicting comments on the values of their degree certificates. Now My next thing I have to decide is to choose the university to study in. I am in dilemma for that.

 

[da_dum_tss]

agree and respect the prestige of ACA by ICAEW but to obtain ACCA you will need about 2-3yrs, and then subsequently to be converted over to ACA takes another 5 years post ACCA + bridging / additional mods to be taken... At the same time, not sure if one is required to be with an ATE by then to fulfill all conditions to be converted. Need some ACAs to advise more info on this... and by then you will be able to obtain CA (singapore) upon full reciprocal arrangement by both bodies...

IMO its too long a route compared to degree -> SQP -> CA(Singapore) which is certain and confirmed route for now.

Btw, ICAEW annual membership fee is $800/year right?

ACCA top up to ACA is not 5 years, just need to top up the capstone level (CR, SBM and Case study). Another thing to note, ACA recognises your work experience prior, during and post completion so no need to clock 3 years again.
So ACCA 3 years + ACA (1 year) = ACCA/ACA/CA Singapore
Work experience can be accumulated during ACCA stint.

how is that not a good strategy?
i say again... CA Singapore and ACA WILL have full reciprocal. 100%

 

[intime]

Hi, how about RMIT/UOL Degree certificates? There are conflicting comments on the values of their degree certificates. Now My next thing I have to decide is to choose the university to study in. I am in dilemma for that.

RMIT and UOL are not accredited with SQP.
You will most likely enter SQP Foundation Programme based on the entry requirement, a recognised 3 year undergraduate degree.
- Whether you will get exemptions for the foundation programme due to relevant degree is on case by case basis.
- After completing Foundation Programme, you will move on to Professional Programme.
- Get employed in an Accredited Training Organisation (ATO) for 3 year practical exp.
- After you attain Chartered Accountant of Singapore from SQP, register with ACRA as a Public Accountant.

Regarding choosing university, if your choice is not a singapore university, just apply for all other available choices from the private institutions.
When offers come to you, accept the one that has honours classification and has the best ranking globally out of all your offers.

 

[ZacharyA]

answer is no. i work in a big 4. and only the upper ranks of the senior manager title get >10k. I think its a difficult plan to achieve in accountancy.. maybe TS should consider sales.

i thought so too... not that accountants can't bag home >10k, just that not in early 30s through corporate ladder... probably late 30s early 40s got chance???

 

[ZacharyA]

ACCA top up to ACA is not 5 years, just need to top up the capstone level (CR, SBM and Case study). Another thing to note, ACA recognises your work experience prior, during and post completion so no need to clock 3 years again.
So ACCA 3 years + ACA (1 year) = ACCA/ACA/CA Singapore
Work experience can be accumulated during ACCA stint.

how is that not a good strategy?
i say again... CA Singapore and ACA WILL have full reciprocal. 100%

thanks for the insight. the "capstone" level that you are referring have to be done through online right? following which you will be admitted to ICAEW as a member / affiliate to obtain CA Singapore mutual recognition.

Good news for current students tho, albeit a much more expensive route with more bodies to pay the membership fees to.

 

[CallmeZen]

Similar question w TS. What I took away from this thread is, either you go

Degree -> SQP -> ATO -> CA Singapore

or

Acca ->ACA -> CA SG

This is what I saw on ISCA website, Pathway to become a CA(Singapore), Under Transitional Arrangement.

Point 9. has passed the final examination in accountancy of the ACCA and CPA Australia and registered
- as a new student of ACCA or CPA Australia on or before 31 July 2013;
- for a course that commenced no later than in 2013

Complete PAC, satisfy proficiency in law and tax and relevant experience by 31 December 2018



So if I apply as a ACCA student now, I would still have to go through SingaporeQP, and get a degree before I can get my CA?

 

[da_dum_tss]

Similar question w TS. What I took away from this thread is, either you go

Degree -> SQP -> ATO -> CA Singapore

or

Acca ->ACA -> CA SG

This is what I saw on ISCA website, Pathway to become a CA(Singapore), Under Transitional Arrangement.

Point 9. has passed the final examination in accountancy of the ACCA and CPA Australia and registered
- as a new student of ACCA or CPA Australia on or before 31 July 2013;
- for a course that commenced no later than in 2013

Complete PAC, satisfy proficiency in law and tax and relevant experience by 31 December 2018



So if I apply as a ACCA student now, I would still have to go through SingaporeQP, and get a degree before I can get my CA?

Correction on your understanding a little.
Degree -> ATO -> SQP Professional Level -> CA Singapore
You need to already secure a place with an ATO before you can go for prof level. dont expect SAC/ISCA to help you find ATO. it will not happen.

Window for transition arrangement for ISCA to grandfathered CA Singapore is already over. only those who managed to squeeze prior will enjoy that. Still.... it is not the real CA Singapore.

SAC/ISCA may be looking at an alternative undergrad entry into the SQP but no one knows when. WHY SO? first, their numbers till date is rolling way too slow. second, ICAEW is working with Singapore Poly for diploma acc grads to go through ACA qualification. Remember i said about ACA <> CA SG reciprocal? It puts a question to SAC now that SG dip grad get go through ACA to get CA SG. so who needs a degree now?

 

[CallmeZen]

Correction on your understanding a little.
Degree -> ATO -> SQP Professional Level -> CA Singapore
You need to already secure a place with an ATO before you can go for prof level. dont expect SAC/ISCA to help you find ATO. it will not happen.

Window for transition arrangement for ISCA to grandfathered CA Singapore is already over. only those who managed to squeeze prior will enjoy that. Still.... it is not the real CA Singapore.

SAC/ISCA may be looking at an alternative undergrad entry into the SQP but no one knows when. WHY SO? first, their numbers till date is rolling way too slow. second, ICAEW is working with Singapore Poly for diploma acc grads to go through ACA qualification. Remember i said about ACA <> CA SG reciprocal? It puts a question to SAC now that SG dip grad get go through ACA to get CA SG. so who needs a degree now?

so I would say your advice is to go ahead w ACCA and wait for an alternative entry route into SQP to get CA?

 

[ZacharyA]

so I would say your advice is to go ahead w ACCA and wait for an alternative entry route into SQP to get CA?

if you were to go with ACCA, which is unable to grandfather over to CA Singapore directly under the transition arrangements, You can still upgrade to ACA then obtain your CA Singapore through mutual recognition and you won't need any SQP by then.

 

[da_dum_tss]

if you were to go with ACCA, which is unable to grandfather over to CA Singapore directly under the transition arrangements, You can still upgrade to ACA then obtain your CA Singapore through mutual recognition and you won't need any SQP by then.

BRAVO! yes, exactly what i meant

 

[intime]

so I would say your advice is to go ahead w ACCA and wait for an alternative entry route into SQP to get CA?

If you wish to go through that ACCA -> ACA -> SQP route,
Do take note of the requirements to convert ACCA to ACA,
- http://www.icaew.com/en/qualificati...lete/why-train-aca-students/converting-to-aca

And the current mutual credit recognition between ACA to SQP,
- http://www.singaporeqp.com/discover-singapore-qp/module-interchangeability
- http://www.singaporeqp.com/sites/si...n_Module_interchangeability_ICAEW_and_SAC.pdf
ACA will gain 2 module exemptions for SQP Professional Programme.

Do plan your route carefully.

 

[da_dum_tss]

If you wish to go through that ACCA -> ACA -> SQP route,
Do take note of the requirements to convert ACCA to ACA,
- http://www.icaew.com/en/qualificati...lete/why-train-aca-students/converting-to-aca

And the current mutual credit recognition between ACA to SQP,
- http://www.singaporeqp.com/discover-singapore-qp/module-interchangeability
- http://www.singaporeqp.com/sites/si...n_Module_interchangeability_ICAEW_and_SAC.pdf
ACA will gain 2 module exemptions for SQP Professional Programme.

Do plan your route carefully.

Thanks intime.
Yes, like i've mentioned, ACCA to ACA will need to only top up Advanced Level (i.e. case study, CR, SBM) with 12 credits.

And Yes, ACA and SQP already have mutual recognition for
Financial Reporting (FR) = Financial Accounting & Reporting (FAR)
Assurance (AS) = Audit and Assurance (AA)

Do see these as an advantage as SQP's FR and AS has the highest failure rate, hence using ACA's equivalent can get you fulfill those credits.