troubled! - to be Accountant but not via local uni

[crazymee184]

hi i am new here and i would like to get some advice.


i would like to ask if one wants to become accountant, but cant get into local uni cos of bad results, is it advisable for him to go for ACCA, UNISIM or just SIM- GE after ORD?

if working part time while studying for ACCA after army, will it be tough to find accounting/auditing jobs since without prior knowledge or experience.

how much does it cost to complete the 14 papers for ACCA? provided only going for lessons in SAA for some papers only and self studying the other papers.

is it a viable option to study acca while in army with almost a year and a half left?

thanks for the advises and opinions!

[CookiesMonster]

there's the academic route and the professional route. just sharing the professional route with you.


if financial accountancy is what you are keen on, then ACCA would be the one. http://www.accaglobal.com/

there are afew private schools offering ACCA program like:-

http://www.kaplan.com.sg/pqcoursedetail.aspx?id=f8ec908e-2f7f-487f-
ad54-8b15ffb3d3bb

http://www.saa.org.sg/ACCA-ICPAS-ACCA-Professional-JES/108/106/page.html

http://www.ftmsglobal.com/courses/index.php?option=com_content&view=article&id=38&Itemid=56

http://www.lsbf.edu.sg/

students do not enroll in one school, they follow the lecturers.

for management accountancy, then CIMA would be the one. check out their local website:-

http://www.cimaglobal.com/Our-locations/Singapore/

i've afew friends who started ACCA at Skills level 10years ago and still stuck. One managed to cleared in Jun '11, one gave up due to poor health, one switched to RMIT with ACCA level 2 qualifications and one still at Skills Level.

if you can, try to finish it before you ORD. yes, possible but you must be very very discipline and keep your goal in mind.

study and work during part-time is the least desirable route especially working in auditing firm. cost wise, it won't be cheaper than academic route unless you can clear each paper at one sitting.

good luck in achieving your goal.

[MMM]

Yes, I agree that in attending such programs, you need to be very focus and self-discipline with a goal in mind that you want to clear your ACCA soonest. If you lack that discipline, it will take you 10 years and you probably give up along the way.


I cleared my CIMA level 2-4 (old syllabus) on a part time basis within 2 years. I cleared all my papers within 1 sitting except a IT paper in the last level which I was stuck… But I told myself that I must clear it before my 1st child arrive and I did it just in time.

So you must be very self-motivated.

[verykiasu2010]

there are people who almost complete the ACCA exams during army dayz

[crazymee184]

Thanks Cookiesmonster and MMM for your advices!:)


Cookiesmonster: the academic route i guess it's through local unis or through DL unis right? i want to ask why do some choose to take Accounting and finance in UOL instead of taking ACCA straight? is it because of the degree that comes with it? including the uncertainty of taking ACCA?

oh and i guess its better taking CIMA after working for a few years? cos i want to start working after clearing the exams, from bottom up.

oh and i am only able to take maximum 12 papers during my army days.:(

[MMM]

crazymee184:

Cookiesmonster: the academic route i guess it's through local unis or through DL unis right? i want to ask why do some choose to take Accounting and finance in UOL instead of taking ACCA straight? is it because of the degree that comes with it? including the uncertainty of taking ACCA?


oh and i guess its better taking CIMA after working for a few years? cos i want to start working after clearing the exams, from bottom up.

oh and i am only able to take maximum 12 papers during my army days.:(

crazymee184, you might want to check with ICPAS. I am not sure if they recognise UOL accountancy degree for application as a CPA. But for ACCA and CIMA, it's definite that they accept. This is very important.

I've a niece who did banking and finance with UOL. Graduated and think it's difficult to get a banking role. So decided to go into accounts. She is currently doing her CIMA.

Based on my experience in this field, I would seriously encourage you to consider a ACCA or CIMA over UOL degree if you are keen in accounting field. It is as recognised as a local accounting degree. There is no doubt about it.

CIMA and ACCA are both professional qualifications at bachelor degree level. Usually you will not do your CIMA after ACCA. Though I do have friends from NTU accountancy grads who did their CIMA after they graduate.

Just in case, you do not have a good understanding of the difference being new to it. ACCA is good for people who are interested in financial accounting and audits. CIMA on the other hand focus on management accounting which means you've to think along business finance roles. Such business finance roles require you to have accounting knowledge but more importantly, a accountant is not a bean counter and talking about historical transaction. A good accountant is a good business partner who can guide their business partners from a finance perspective towards achieving the company's financial targets. But actually it doesn't really matter as over time and with experience a NTU, CIMA or ACCA graduate can hold these roles. So what you learn will be transferable.

[crazymee184]

MMM:

crazymee184:

Cookiesmonster: the academic route i guess it's through local unis or through DL unis right? i want to ask why do some choose to take Accounting and finance in UOL instead of taking ACCA straight? is it because of the degree that comes with it? including the uncertainty of taking ACCA?


oh and i guess its better taking CIMA after working for a few years? cos i want to start working after clearing the exams, from bottom up.

oh and i am only able to take maximum 12 papers during my army days.:(

crazymee184, you might want to check with ICPAS. I am not sure if they recognise UOL accountancy degree for application as a CPA. But for ACCA and CIMA, it's definite that they accept. This is very important.

I've a niece who did banking and finance with UOL. Graduated and think it's difficult to get a banking role. So decided to go into accounts. She is currently doing her CIMA.

Based on my experience in this field, I would seriously encourage you to consider a ACCA or CIMA over UOL degree if you are keen in accounting field. It is as recognised as a local accounting degree. There is no doubt about it.

CIMA and ACCA are both professional qualifications at bachelor degree level. Usually you will not do your CIMA after ACCA. Though I do have friends from NTU accountancy grads who did their CIMA after they graduate.

Just in case, you do not have a good understanding of the difference being new to it. ACCA is good for people who are interested in financial accounting and audits. CIMA on the other hand focus on management accounting which means you've to think along business finance roles. Such business finance roles require you to have accounting knowledge but more importantly, a accountant is not a bean counter and talking about historical transaction. A good accountant is a good business partner who can guide their business partners from a finance perspective towards achieving the company's financial targets. But actually it doesn't really matter as over time and with experience a NTU, CIMA or ACCA graduate can hold these roles. So what you learn will be transferable.

hey thanks for taking the time to write the lengthy post! i really appreciate it a lot, bringing to me many insights about the accounting world!:)

i did check about UOL degree, they have to take extra 5 papers(ICPAS approved) after they have graduated in order to be registered with ICPAS.

it's also reassuring to know that both ACCA and CIMA is as recognised as a local degree. i am keen in the accounting fields but i do have a worry if its possible, if even practical and realistic at all to consider about MBA after years of working.

[verykiasu2010]

thisis not to boast nor to flame : ACCA and CIMA is any time more recognised internationally than B.Acc from NTU or NUS.


If you hold the ACCA, you are exempted from certain modules (at least 2) in any of the UK MBA courses, be it 12-month or 18-month MBA

[MMM]

verykiasu2010:

thisis not to boast nor to flame : ACCA and CIMA is any time more recognised internationally than B.Acc from NTU or NUS.


If you hold the ACCA, you are exempted from certain modules (at least 2) in any of the UK MBA courses, be it 12-month or 18-month MBA

I think I've to agree to this in the sense that ACCA and CIMA market their qualification globally, unlike NTU or NUS which stayed locally.

Was having a conversation with dh ytd as he is from NTU and I asked for for his opinion on the difference between NTU vs ACCA/CIMA. He was like they usually prefer to recruit NTU grad but he said it's rare in market as the supply got swamped up by the big 4. When he advertise for a role, it's usually australia uni, ACCA, CIMA, etc... he seldom see a NTU grad. But we both agree that over time and with experience, they are all on a fair playing ground.

[MMM]

crazymee184:

i am keen in the accounting fields but i do have a worry if its possible, if even practical and realistic at all to consider about MBA after years of working.

MBA to me is quite subjective. Personally, I will only do it when it is value add and not for the sake of doing it. My personal view is that one should do a MBA after working for a while eg. at manager level so that they have better appreciation of the issues.

I was just thinking eg. an accountant who is more involved in daily operational work, how will a MBA add value to her? To think more strategically which probably her job might not have the opportunity to let her do so?

Dh did his MBA couple years back and we do not see how a MBA will add more significantly more value to his resume. But I thought it's good that he completed it.

For myself, my company is willing to sponsor my MBA studies since 3 yrs back. But for now, I rather put the time and effort on my 3 kiddos. My aspiration is that I hope they are more successful in life than me So people's priority will change as they are going through different stages in life. Besides, I don't really think a MBA will add significant value to me at this point.

Well... key thing is to focus and obtain your 1st degree first. But nevertheless, it's good to plan ahead.

All the best!