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Why CPA (Aust) exam is so easy & low standard?
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Topace111
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May 5 2010, 07:55 PM
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I like case study which requires you to read few pages of story and write something out of it. This is where examiners can filter out those who use "brute force" or "photocopy" technique cos its too general that you need to be specific. Every mark needs to be earned. This build the skill of breaking down it to pieces and reconstruct it to suit examiner's requirement. I heard from a senior taking icaew. The last few papers (case study) is 4 hours. The story is near hundred pages (like a book) but its an "open book" which you can bring whole trolley of books to exam hall (which everyone did). Not sure how you can read, refer, digest and answer in such a short period though.
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Topace111
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May 6 2010, 01:31 PM
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QUOTE(Murusundram @ May 6 2010, 12:52 PM) Faceless, I know very well from A-Z about this whole CPA Program. I m very open & direct & always speak the truth eventhough the truth can sometimes offend the other parties. I can understand that most accountants like to champion their own prof bodies regardless whether it's CPA, ICAA, CIMA, ICAEW, ACCA, MICPA etc. For CPA, there's nothing to shout about, just look at the exam...the whole CPA Program is a joke. Unlike ICAA whereby it tests the candidates on 4 main skills/criterias required of an accountant: technically sound, analysis, judgemental & application. So what CPA tests?....the answer is NOTHING, the main aim is to pass as many candidates as possible in order to become the largest & biggest in order to generate more revenue. On the forumers, I m pretty sure deep inside their heart they would agree with me but they would not admit it openly.....they just want to champion their own prof body, CPA regardless how easy the exam is. If they are honest & direct, they will fully support my statement. Technically learning should be continuous and one should not be content with just one affiliation. Looks like your way to overcome the CPA thingy by taking another one. Is that the proper way to go ?
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Topace111
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May 10 2010, 10:04 PM
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Sigh the obvious solution is just to take another one lo. I always felt one is not enough. Thing is whether to go for more specialized mode (ICAEW), wider scope (MBA) or diversification (CFA). Anyway still young to do so  .
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Topace111
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Oct 14 2010, 01:21 PM
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If you want to be a commercial accountant, study whatever you want as long as it will recognized by the local professional body. As business skill, networking and survivor skills will earn you the big bucks.
If you want to be a professional accountant (Ie : with an accounting firm) then stick with sound professional qualifications. I have colleagues which hold CPA, ICAEW, ACCA, MICPA, .......etc. This is the normal perception : ICAEW/CA : Students are more savvy as they require heavy applicational and practical skills. One of the rule of ICAEW is you MUST WORK AND STUDY at the same time so it promotes applicational skills. And the fact the last few papers are purely case study (a book) so your analysis and applications are important. So they have advantage to be in higher managerial position. Most of the CFOs and CEOs in Europe are ICAEW holders. Same goes to Tony Fernandes (also acca holder).
ACCA : They are deemed very strong in terms of technical knowledge even exceed ICAEW (supported by ICAEW students) hence they will be suitable to be auditors which requires heavy application in accounting standards. But they are deemed weaker in other areas like soft skills bcos they are not tested on this aspects compared to degree holders.
CPA : Well you are all the better judge here. Mostly taken by Aussie grads cos its more relevant for them. Normally Monash students.
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