QUOTE(Xeniouz @ Jul 23 2011, 03:06 AM)
lol.. if ACCA certificate is even more inferior than a diploma/degree, then why those with diploma/degree have to get exemptions from ACCA instead of the other way round.. i have a diploma in accounting and i noticed that the syllabus covered are from F1 - F9 but slightly easier than ACCA.. degree is never the same as professional qualification..
actually most degree holders can only prove that they have money to get the certificate..
Despite some of the facts u said are true, like:
1. ACCA is an institute not a university; therefore they cannot confer degrees.
2. Most of those who have reputable degrees would op to take ICAEW. ICAEW have more MRA's compared to ACCA.
3. There are reputable business degrees which are superior compared to ACCA's certificate; some to the extent that it is immediately recognized by a local accounting institute (i.e. NUS and NTU business/accounting degrees recognized by the CPA SG).
but for business degrees, the accounting knowledge covered is very shallow.. how can it be compared to ACCA qualification in terms of accounting.. it would be different if u take an accounting degree (accounting degrees do have audit in their syllabus as well), but most of the degrees can be easily gained except for some of the reputable ones.. ACCA is a professional qualification that makes you an all rounder..
ACCA is also another route for further education.. there are actually some people who actually took ACCA and further their studies in CFE, CFA etc.
basic audit has already been covered in paper F8, thus, majoring in audit is an option.. the optional papers are purely options.. not necessarily that u must take P7.. i have even seen a person with CIMA opening up his own audit firm..
i've actually heard of CEOs and directors without any qualification.. it is just that u have not met any of them.. there was once an interview with a general manager of a 5 star hotel who does not possess any qualification that came out in star newspaper.. when u come out to work its not all about qualification bro.. u must have contact, the right communication skills, ability, and also luck.. there are also some people with excellent qualification but work like slaves.. i personally have a friend with spm qualification only but working as a manager already.. the reason is because he is very persuasive.. my bro also got a friend without any qualification but he managed to be the sole distributor of a "hot" product which i shall not name it for privacy purposes..
Exemptions are given to avoid replication of studies rather than your insinuated point.
Most reputable degree holders (i.e. LSE, Harvard, MIT, Stanford, Oxford) are the elites of the academic field. It proves that you have the ability of Tiger Woods in his field as compared to yours. It doesn't simply mean you have the money to pay for the tuition.
A degree from a university is for life; you will never get deregistered.
ACCA is a practitioner based model institute therefore they are less academic in nature and are more vocational. They apply standards based on best industry practises and academic models from universities.
Despite what you said, degrees holders should be the all rounders and not ACCA holders as the latter is more technical and vocational.
CIMA members are slowly moving away from audit as it is not one of their main focus areas.
If you are right, I request that you name one PROFESSIONAL MANAGER from a fortune 500 company or FTSE that doesn't have at least a degree. Even if you do succeed, it will not constitute the majority.
The people that you cite are most likely OWNER MANAGERS therefore they are in a different category (i.e. entrepeneurs).
MYS Companies Act doesn't require any of the directors or shareholders to hold any academic qualifications; however major firms usually have HR policies that include an academic qualification as a criteria of hiring.
Like i mention before, that piece of paper is a prerequisite not ability.
I hope you get clarity from this.
This post has been edited by student2: Jul 23 2011, 04:41 AM