i'm a Bachelor of accountancy (hons) final year student. I would like to ask which professional qualification should i do after i've finished my degree. currently, im considering whether to take CIMA, MICPA or ACCA. kindly give me your opinion.
Thanks in advance.

Which country is your degree from?

IMHO, all 3 (CIMA, MICPA and ACCA) are non-degree prerequisite professional qualifications. If you have a degree, you should take a professional qualification which requires a degree (CA or CPA).

No point taking a step backwards.

There should be exemptions i suppose?

Depends on which accounting line do U want to join.

ACCA if U wanna go into public practice e.g. auditor, tax consultant. The focus is on technical excellence.

CIMA if U wanna work in commercial firms, becos they emphasise more on management accounting tools like budgeting, planning, decision-making and a bit of marketing stuff.

MICPA if......I dunno.

This post has been edited by Prince_Hamsap: Apr 12 2008, 05:25 PM

ACCA, MICPA and CIMA does offer exemptions to degree holders.

On the other hand, CA and CPA does not include those basic modules in their programs at all as their candidates already have the necessary educational basis in the first place.

Great thread, I've been looking for it actually. Just want to know, let say you have accounting degree from local u and there's exemption for ACCA, MICPA and CIMA. The question is, how do we know what subject is exempted and how many papers should we take, let say ACCA? where to check?

This post has been edited by killingspree: Apr 12 2008, 11:43 PM

Just check from their websites and email them if you need to.

If I had an accounting degree from a local U that's on MIA's list, I wouldn't bother getting ACCA, MICPA and CIMA.

A local acctg degree accredited by MIA entitles you to join MIA after fulfilling the work experience requirements. And once you're a CA with MIA, you can do everything from calling yourself an accountant, to getting an audit licence.

In addition, you can use your membership of MIA to gain entry into reciprocating foreign statutory accounting bodies.

Why bother doing ACCA, MICPA, CIMA, or even CA or CPA when you already have a direct route to the ultimate destination ie. MIA CA? You don't need another professional qualification when you already have a qualification from a statutory accounting body.

If you really want to spend some time studying, might as well do a higher qualification like a Masters or a professional qualification that expands beyond accounting like a CFA.

This post has been edited by seantang: Apr 13 2008, 12:09 AM

I would say ACCA as I took it too.
ACCA gives global recognition. Working in overseas countries like UK wont be issue at least.
Hope this helps

I would say that all established professional qualifications give global recognition.

The differences in prestige and employer regard would be whether the professional body (1) conducts a degree-prerequisite program or not, and (2) whether the professional body also functions as a national statutory body as well (like ACA/ASCPA, SICPA, HKCPA etc).

degree from local uni. degree will give exemption for certain modules in ACCA, CIMA and MICPA.

After you complete your local Accountancy degree, you will be eligible to apply for membership with MIA after which you can also apply for exemptions from other professional bodies like ACCA, CIMA, MACPA etc..For more info on MIA pls. read their FAQ here: MIA FAQ
Rgds

As you do not mention which local university you are from, so I do not make any assumption. I advise based on general rules.
In order to qualify for MIA membership, you are required to pass the final exam as specified by Accountant act 1967, schedule Part 1.
After obtaining 3 years of relevant working experiences as specified in the same Act, you may apply for MIA membership and qualified youself as Chartered Accountant (CA).
However, please be mindful that MIA membership do not automatically admit you to foreign professional accountancy bodies, where you are required to apply for exemption , attempting its papers and the admission requirement varies from each others. Some require Continouos Professional Development (CPD), some do not.
I do not know your intention in pursuing professional degress such as ACCA, CIMA or CPA but it depends on individual goals and ambition.
Local graduates that qualify for MIA membership do not bother for professional qualification as they can opt for MIA membership.
However, for those local gradute that do not qualify for MIA membership will consider taking up foreign professional qualification to apply MIA membership, meaning you will have two membership. But bear in mind that MIA membership only cost RM250 but foreign membership will cost you pound sterling, USD, EURO or any foreign currency (e.g. 175 pound for ACCA Associate member, equivalent to RM1,120 @ 6.40). Thus, many ACCA, CIMA or CPA associate members after obtaining their membership, they normally apply MIA member and give up their membership in ACCA, CIMA or CPA due to relatively higher member fee paid.
My advice will be:
1) If your local accountancy degree is recognized by MIA, after you have obtaining 3 years of relevant working experience, you can apply for MIA membership and become CA.
2) If your local accountacy degree is not recognized by MIA, you may opt for:
a) any foreign professional degree recognized by MIA.
b) Qualifying Exam (QE) conducted by MIA.
For details, check http://www.mia.org.my
The pro and con for the above is that MIA member is a Malaysian Professional Accountancy Body. The recognition of MIA membership in oversea varies from each others. The popularity of MIA membership compared with foreign accountacy membership depends on countries and employers. There is no saying of MIA membership is inferior or superior to other membership as it is only individual perception. Many foreign professional accountacy bodies as well as its students or associate members definitely will promote its body and some might have exaggerated its qualification. To be sure and firm, it is always wise to refer to MIA as the regulatory body in Malaysia.
Be cautios that many private colleges nowadays claim to provide accounting course that is recognized by MIA but ending you need to sit for MIA QE exams. QE exams are only for those local and oversea accounting degree that are not recognized by MIA as well as STPM qualification. Exemption for QE exam varies from each others.
My advice is always collect detailed information before opt for any qualification in accountacy as it is very costly to regret half-way and taking up many qualifications and ending up as not achieving any qualification. It is true that the passing rate for some professional accountancy bodies is quite low, some is as low as 30%. But being optimistic, you should view yourself as part of the passing 30%, not the failing 70% and so forth. There is always no shortcut or easy way in getting yourself qualified as CA, for those who is fortunate to be admitted to local universities accountacy degree course and which are recognized by MIA, try not to be arrogant as employers nowadays regard foreign accountancy membership or qualification higher than MIA membership or local university qualification due to the protectionism practised by the Malaysian government in tertiary education.
If you have further question, I would be more than happy to help you.
Hope you find your bright future in accountancy career!

I dont think so, go to UK/US and tell ppl u r a CA - MIA member, chances of ppls know what is MIA are definitely very low. Even if they know it is an Insitute Of CA in Malaysia, they won't know how prestidges it is. It is more advisable to get an ACCA/CIMA/CPA as these are the most well-known professional body, internationally recognised, besides, you automatically qualifed as a MIA member once your acquired your ACCA/CIMA membership.

This post has been edited by alxcnq: Jun 24 2008, 12:40 PM

Depends on what you mean by recognition.

If you say man on the street or colleague in office, chances are they won't know who MIA are.

But if recognition means whether other professional bodies recognise MIA as the statutory body for the accounting practice in Malaysia, they do in the sense that they usually have reciprocating recognition arrangements with MIA (ie. if their members want to be recognised in Malaysia, they'll have to talk to MIA first), and MIA is a member of the major global acctg stds setting bodies.

This post has been edited by seantang: Jun 24 2008, 01:29 PM

Since you already got a degree, try ICAEW instead.

That's the problem, MIA is well known only in Malaysia, apart from that, you also need to think about prestige here. Imagine you go for an interview in UK or other countries outside malaysia, you tell your employer you are an MIA member compared to you are an ACCA member, which one you think can impress the employer more? They know what ACCA is, the whole world of accounting knows they are a prestiges professional body. Why take only one membership when you can take two? If you talk about reciprocating recognition, ACCA/CIMA also opens you to that. Think yourself.

This post has been edited by alxcnq: Jun 24 2008, 01:54 PM

Firstly, my assumption about TS was that his ultimate aim was to practise in Malaysia. In that case, all roads lead to MIA and/or an audit license.

Secondly, if TS wanted to work overseas, I still won't take ACCA or CIMA. Why? Because they are not the governing accounting body of any country.

If I wanted to practise in Australia, I'd take ICAA or ASCPA.

In Singapore, ICPAS. China, CICPA... and so on.

Therefore, if TS has overseas ambitions in mind, depending on which country, my first priority is to take the qualification from the governing body in that country. If that's not possible, I still wouldn't take ACCA and CIMA. I'd rather take ICAA, ASCPA, ICAEW, NZICA etc because these are degree-prerequisite qualifications, are governing bodies in their respective home countries and in short, simply more prestigious and well regarded.

This post has been edited by seantang: Jun 24 2008, 07:09 PM

You still dont get it. For your info ACCA Chartered Certified Accountant qualification is fully recognised in the United Kingdom and Republic of Ireland, they are one of the designated statutory body/governing body there. Outside these countries, legal recognition by government authorities, and mutual recognition by equivalent overseas institutes, varies from country to country, many countries like Malaysia do offer membership to those who is an ACCA direct to their local statutory body, also in many countries ACCA's strong global reputation have even obviate the need to acquire a local designation.

Take Australia for instance, you mentioned ICAA or ASCPA, but ACCA qualification is also a statutory recognised body for insolvency purposes & audit purposes there. The ACCA qualification is recognised as at least equivalent to an Australian bachelors degree in accountancy(in some countries even equivalent to master). This allows ACCA members to obtain a direct entry to the examinations or advanced standing from Institute of Chartered Accountants of Australia or National Institute of Accountants.

TS is currently in Malaysia, the best choice ofcourse would be ACCA if he want to pursue accounting, even if his ultimate aim is to practice accounting just in Malaysia, ACCA also open you to a direct membership in MIA, and who know some day he might want to work in UK? You cant tell, back yourself up with ACCA would definitely be an advantage. Even if you go to other countries just for conference purpose or meeting, you will be known if you say you are ACCA with designation FCCA because ppl already know at what standards ACCA are. If you say like MIA, ppl dont know at what quality the body is like, their prestigious would definitely be in doubt. Master degree in instance does not open you to the recognition whether statutory or not like, ACCA does, you should obtain ACCA first before you go for master if you want to persue accoutancy. Which is also why I keep mentioning globally recognised, it is not just globally famous thats all. Hence, it is advisable to take ACCA, because it open you to a lot of opportunities, recognition and routes, if you just take ICAA or ASCPA, MIA it is not as globally recognised as ACCA, your choice is limited. Not forgot to mention, CFA is a body well recognised in finance/investment not accountancy.

This post has been edited by alxcnq: Jun 24 2008, 06:14 PM

I stand corrected on the term governing bodies.

MIA is a very different animal altogether as an organisation that both regulates the industry and professionally qualifies accountants.

Only in Australia is there something similar where the ICAA and CPA Aust jointly undertake to regulate the profession via the regulation of their respective memberships and their joint membership of standards setting bodies. In Singapore, the industry is regulated by a statutory body ACRA but only ICPAS is recognised by ACRA as the national accounting body.

In the UK, the FRC regulates the industry with input from the major accounting bodies.

I would put it to you though that ACCA offers nothing more than what the largest international accounting bodies like ICAEW, ICAA, CPA Australia, AICPA, NZICA etc. already offer in terms of global recognition. I have yet to see any nation's list of recognised accounting bodies that include ACCA, but not the others.

As for less international bodies like MIA, MICPA, ICPAS etc... I concede that their reciprocating relationships are fewer.

Professional qualifications (ACCA or any other prof qualification for that matter) are SOMETIMES recognised as alternatives to a bachelor's degree for SELECTED courses in SOME universities. This is certainly not universal. As for being equivalent to a masters, that's even less common if any. In any case, equivalency is not the same as actually having a degree. A bachelor's degree is accepted... well, as a bachelor's degree for entry into any Master's or PhD. No need for discretion or special favour. Additionally, if one doesn't pay one's ACCA dues or one's certification is revoked for some reason, one's highest qualification reverts overnight back to SPM or STPM. A degree stays with a graduate for life.

At the end of the day, it's a moot point. Whatever tertiary educational requirements the ACCA is deemed to have fulfilled, the same benefit extends to any of the other international accounting bodies, with the exception that the latter actually have an undergraduate degree base, which potentially opens up even more possibilities of advanced standing in other courses which are less friendly towards professional accounting qualifications.

Again, it's not universal. If TS has a degree from a local university and he has no intention of working overseas, I wouldn't bother with anything else and go straight for MIA membership.

However if he is like you, and insists on an additional professional qualification, his options for a qualification from a large international accounting body would be limited, to perhaps ACCA as you said, or CIMA.

But if he has any foreign degree that allows him to gain a qualification from any other large international accounting body like ICAA, CPA Australia, ICAEW, AICPA, NZICA etc... my advise still stands that his first option needs to be any of those organisations instead of ACCA. The opportunities, recognition and routes, as you've put it, are at worst, as good as ACCA (but IMHO actually much more prestigious and well regarded by employers due to the fact that the latter qualifications only accept degree holders as candidates, and in the case of ICAA and CPA Australia, they are indeed governing bodies in their home country).

And after all that, it's no coincidence that it's usually only the ACCA holders or advocates who are always trying hard to convince everyone else of ACCA being 'the best', or being equivalent to a degree, or being as good as the other international accounting qualifications. You don't see Chartered Accountants (as distinct from ACCA's Chartered CERTIFIED Accts, not Certified CHARTERED Accts) and CPAs having to do the same to spin their qualifications.

I'm noob in this field, but reading on your explanation, for example, if I plan to work in Singapore and China, that means I need to take both ICPAS and CICPA? I have a feeling that these papers aren't going to be easy. So, the pay is gonna be real good compare to ACCA?

If you want to practice eg. sign audit reports etc, yes. If you just want to get a job and work there, no.

... You should google ... click here: ACCA Exemption for Country Malaysia

ACCA & CIMA also opens a direct membership to ICPAS, but ofcourse other body like ICAEW ICAA ICAI CPA Australia also do.

I'm not saying ACCA is better than other bodies, but we are talking about whether just an MIA is enough to me it's definitely not even if you just want to work in Malaysia, your chances will also be limited, you never know from time to time you might need to deal with many people outside Malaysia, want to extend your network outside malaysia, more often if you work in MNC and ike you say ACCA does open you better reciprocating relationships to ICEAW, ICAA, CPA Aust etc compared to just MIA. Being the fact that TC is in Malaysia, his only choice would be only ACCA/CIMA. Prestigious varies from country to country as i mentioned, if you say US, ACCA is more preferable for most of the employer there, if you say UK thn it would be CIMA, if you say australia then ofcourse ICAA, CPA Aus.


Just to mention i'm not an ACCA holders nor an advocates, just trying to express my point of view, the best course of action TC should choose whether to go for ACCA or a master/CFA instead. If you have a degree, you can get exemptions most of the time 10 out of 15 papers for ACCA/CIMA, to me you should go for it before you think about Master/CFA.

alxcnq, Thanks 4 ur explanation. just keep on discussing guys.

If we're talking only about TS particular situation of being in Malaysia and only having a local degree, agreed.

The US is definitely CPA. It is the only qualification that allows you to practice in the US (albeit only CPAs who've taken the US exams), but the name recognition itself for foreign CPA qualifications is much higher amongst employers compared to the commonwealth CA and UK ACCA.

For UK and NZ... it would be very difficult to convince me that the CA is not the preferred qualification, for candidates and employers alike. Having said that, the connotation of public practice is very heavy for CAs.

Fair enough. I'm not either but I guess that's obvious. I have very little against ACCA except that I do find that Malaysians with ACCA and MICPA tend to be very parochial and defensive whenever their qualifications are challenged. Nonetheless, they simply have to accept that there is an unavoidable stigma and perception of inferiority when ACCA takes the lower road and accepts candidates without degrees, in direct contrast with the CAs and CPAs. No matter how good the individual is, something like that sticks out like curry stains on an otherwise white shirt.

If he has a local accounting degree, that's a fair option.

This post has been edited by seantang: Jun 24 2008, 10:08 PM

How if I obtained my degree in Management, major in Finance.

Will I get exemptions from any paper, if I were to do the professional paper?

It is a matter of perception. CPA Australia gives global recognition as well. Other professional bodies give global recognition as well. It is not because you take it and it gives global recognition.

I am not sure which paper you are referring to, so I list a few for your reference.
ACCA: https://portal.accaglobal.com/accaweb/faces...tionsTable.jspx
CIMA: http://www2.cimaglobal.com/cps/rde/xchg/SI...ot.xsl/1325.htm
CPA: http://www.cpacareers.com.au/cps/rde/xchg/...ex_ENA_HTML.htm

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Added on June 25, 2008, 10:21 amThe supertition or myth amongst many potential or existing students of professioinal bodies like MICPA, ACCA, CIMA or CPA is that taking up professional papers is the shortest enroute to be a CA. And they do not realise that these bodies membership is renewed annually and subscription fee is quite handsome in many cases. Once you cease paying the annual subsription fee, your membership is revoked immediately and later may be after a few years you decide to rejoin the body again, the penalty and fee in arrears would be a killing. Many if not in most cases, the associate members of the professional bodies once joined MIA, have given up their memebership in their origin body due to the reason mentioned above.

Reader of this thread should be cautious in distinguishing national accountancy body and professional accountancy body. For example, in Malaysia the national accountancy body is Malaysia Institute of Accountants (MIA) while Malaysian Institute of Certified Public Accountants (MICPA) is a professional accountancy body. MIA was established under the Accountants Act 1967 has assumed the authority empowered by law to manifest itself as the authoritative body regulating the accounting profession. The Institute is a member body of regional and international professional bodies which play a significant role in the development and advancement of accounting profession globally. Its membership in such bodies include the:
- Asean Federation of Accountants (AFA)
- Confederation of Asian and Pacific Accountants (CAPA)
- International Federation of Accountants (IFAC)
- Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR)

Professional accountacy bodies like MICPA, ACCA, CIMA and CPA provides examinations, training, career support, technical knowledge and competency and even accredition of membership to its students (who later become associate member) in meeting the competency and expertise requirement of each country national accountancy body in recognising the qualification of a certified/chartered/public accountant. Take note that even now MIA also provides Qualifying Exams for admission to MIA but the passing rate is by far amongst all the lowest. By solely joining professional accoutancy body like MICPA, ACCA, CIMA and CPA does not qualify yourself as Chartered Accountant (in Malaysia context) or Certified Public Accountant (in Australia context) and so forth. Thus, you are still required to join MIA to be CA in Malaysia even if you already are a member of any professional accountacy body. Correct me if I am wrong.

However, in employment market, Malaysia specifically, qualification of any professional accountancy body (whether you are MICPA, ACCA, CIMA, CPA, ICAS, ICAEW, ICAI, ICAA, NZCA or CICA) is perceived as equivalent to MIA membership. Please refer to Accountants Act 1967, Part II of Schedule 1. In addition, the Listing Requirements (LR) of Stock Exchange in Malaysia also clearly spell out the same criterion for a director or person to sign the statutory declaration of a public listed company's accounts. Please refer to LR Chapter 9.27 of LR. Thus, there professional accountacy bodies qualifications are accepted as MIA membership admission without any examination.

But, please bear in mind that, this would not be the case for other countries national accountacy bodies. By simply taking up MICPA, ACCA, CIMA, CPA and so on does not automatically admit yourself to other national accountacy bodies. For instance, a US accounting degree might not be accepted as qualification for joining MIA but surely it is recognised by US national accountancy body due to different accounting standards adopted by Malaysia and US. For your information, International Accounting Standard Board (British/UK stream) and US Federation of Accounting Standard Board (US stream) still working together in convergence of conceptual framework on worldwide accepted accounting standards.

Usually, when we are talking about recognition of a professional accountancy course, it depends on the variant of accounting stream you are going for. For instance, in ACCA, for same paper of exmination, it has the options of different accounting stream variants, such as Malaysia, UK, International, Singapore or Hong Kong. Therefore, when forumer is over-zealously or should I say advocator of respective professional accountancy body to remark their qualification is better than other is exaggerated. Widely accepted by many national accountacy bodies are the words I prefer to use. Based on my personal experience, not all members from the same professional accountancy body shares same competency and expertise as it might have a few bad apples amongst itself.

I hope this thread would bring positive advice to readers or TS, who intents to pursue professional qualification in accountancy and not turn into a "my qualification is more popular or famous than yours" sort of things.

This post has been edited by neo6768: Jun 25 2008, 10:21 AM

The bold should be Certified Practicing Accountant (CPA Aust). Certified Public Accountant or CPA is widely used in USA. However, it is more the less the same..

I do agree neo6768 statement that TS should not compare narrowly about two qualifications in terms of popular. I would emphasize it is a matter of perception because there are ACCA grads who did well and also CPA Aust and other professional bodies grad who did as well as others. They are on par. The difference is in the individual. If you are good, no matter what you take.. where you go you will still succeed because you are good.. Its not you will succeed in future because you took ACCA or CPA.

This post has been edited by asiahost: Jun 25 2008, 11:39 AM

By registering with MIA as a Chartered Accountant (CA), you can hold yourself out as an 'accountant' under the law and practise as such, whether singularly or as an accounting firm. However if you want to conduct statutory work eg auditing etc, you will still need a licence from the Finance Ministry to do so.

In Australia, you become a CA or CPA if you join the ICAA or CPA Aust, respectively. But the accounting industry in Australia is a self regulated one, so both ICAA, CPA Aust and a myriad of statutory regulators require CAs and CPAs to hold Public Practice Certificates issued by ICAA and CPA Aust before providing accounting, auditing, insolvency etc services to the public.

These words really reaching to the heart of ppl in accounting professions, totally make sense & thats de reality.........

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Added on July 11, 2008, 11:08 amBTW, I am ACCA....the good is....I have option for direct MIA, ICPAS......the fall back...there is a dicussion issue commonly talked by UK/Euro forumers abt the ACCA vs CA like ICAEW...ICAS (UK CA bodies) & etc which always put ACCA below those CAs bodies.......But, if it is recognised then it is....if ACCA not good enough...then MIA won't accept direct entry..rite?

This post has been edited by cfng76: Jul 11 2008, 11:08 AM

Whoa why jump so fast to oversea while you are not even getting a firm grip on domestic soil.
It will be not quite relevant to discuss superiority of proffesional qualifications as this was not the only pre-requisite to excel in work.
Lets discuss what actually employers in malaysia needs first b4 venturing into foreign country (later).
Well the most you can differentiate is that x slightly better, y more famous, z can have better pay,.........etc.

1) What distinguish prof qualification from degree holders ?
The former covers wider scope, more practical biz application & worldwide recognition (most of distinguished countries).
Degree holder (will depend more on the University / college) you belong to not your merit per se (but still important).
Most public listed requires degree holder with first / 2nd class only. (which also includes audit firms like Big 4).

2) Which holder are more sought after ?
Lets start with interview process. During job intake it will be a norm that degree holder will have more applicants than prof holder.
With the homogeneous issue, one could wonder whom will be pick eventually. We can effectively use the demand & supply equation.
Well prof holders will not 100% get the job but it create a perception "stand out from the rest".

See, that's a bit myopic. These days, if you're competing with graduates with a degree only, it's usually outside the public accounting field. And here, a non-degree professional qualification does you no favours, and imho, it's actually does you a disservice as it silos you into a very narrow job potential in the eyes of mgt.

And in public accounting, you now compete with many fresh graduates who have a degree AND a degree-requisite professional qualification (or are working towards one). So again, you're overshadowed from the very start.

This post has been edited by seantang: Aug 4 2008, 06:00 AM

Everyone thought that once you get the "best" qualification you will be the "best" in field & that's it job well done.
Unfortunately life is "not all" about qualifications, knowledge or IQ.
The most important is that you can "apply" what you learn not what you know.
Do you think that once you get a Prof qualification / degree you will be outstanding from those who don't ?
From the perspective of "form" definitely yes but in terms of substance it doesnt have to be so.

You think passing exams / score distinctions makes you a "better" person than the one score lower than you ? Do you really think so ?
I was once belonged to a premier school which now has become the first batch of cluster school & i know plenty of students who scored
straight A's in every major exam they took. they study 5 hours every day exculding tuition class in schools & external respectively. Does that make them greater student?

What i must distinguish is that don't create that "false sense of security" inside you.
Feel appreciative but never feel content & satisfied of what you can achieve.
Working world is very different from academic world where success & failure is by a thin line.
Its full of office politics, deception, hustling, oppresion & injustice.
Do you think all the great leaders in politics & corporate are the best in their "league" ?
Sure degree & proffesinal qualifications give you credentials & justification of your skill & competency but doing it in real work is quite different.
Try asking your parents, seniors or peers of my view.
They won't agree with all of it but they know its the norm or reality.
There is a general saying "survival of the fittest" which conlude my overall opinion.

In short,.. YES. A resounding YES.

You are saying that a person who is more educated, may not be as skillful as someone who is not as educated. That's just a simplistic and flawed assumption.

I am saying that at a time when everybody has the same skills for the same job (and they will if they are your competitors), a difference in education is what sets you apart from the rest.

I'm not saying concentrate of academics, at the expense of skills and EQ. What I AM saying is don't think skills and EQ will compensate for a lack of a quality education - it won't, because they are lots of people out there with the same (or better) skills and EQ than you, but also with a better education.

Here's something I posted a while back in response to another person with similar tunnel vision:



This post has been edited by seantang: Aug 16 2008, 12:33 PM

Ok, What about the notion that if you like dealing with financial accounting, you take ACCA. If you do not like accounting, you take CIMA. Like, is CIMA totally management focused professional qualification? And if so, doing VT in audit firm is useless then if you want to take CIMA?
Because, my uni (same with TS, BTW) prior to sitting for last semester (BAcc Hons) every student must do 6 months of practical training. I did mine in a small accounting firm. I realised at that time I do not like financial accounting and thinking of heading into management line. So, should I take CIMA? If so, would my training (in accounting firm) be useless then?
My question is direct (to take CIMA or ACCA professional qualification) as I believe my degree is not good enough for me to advance in my career. I need that extra oomph! to make me different than others, you know what I mean?
So, any advice regarding this matter is highly appreciated.

MICPA - Toughest
ACCA - International recognition (most countries), more suitable for financial accounting (eg: hardcore audit line, finance line)
CIMA - International recognition too, but more useful if you are pursuing manufacturing industries as the focus is more on management accounting.

All depends on which field of work you wanna pursue.

I'd heard that the new regulation to register as MIA member acquired one's to enrolled with professional qualification. Degree holders should pursue with professional qfication no matter what.

Not true at all. There is no such new regulation.

Hi... can i know is micpa or acca better? i'm having a dilemma here as to choose which to further study... Now both of the professional paper do offer university student especially 3rd year to take on the paper.... but it is a tough decision between the two... can someone help me?

What is your background? Do you have a degree from a local public university or is your degree recognized by MIA?

If yes, look at seantang's comments. Go straight for MIA. No need to waste your time on other professional qualifications.

im currently 3rd year for accounting degree in local uni. Yes it is recognized, but MIA is discussing to only accept member which have professional paper right?

Since your degree is recognized, you can apply for MIA membership straightaway after getting your three-year relevant experience.
So, you don't have to waste your time getting another qualification unless you really insist on it.

See if your University is in the list below.

http://www.mia.org.my/new/members_being_application.asp

The list above is not updated. The four-year accounting degrees from UTAR and INTI International University have been added to the list recently.

A lot of write ups that are very informative can be seen here. Based on my work experience, the norm is...

If you plan to practice as an accountant in Malaysia then you must be registered with MIA irrespective of whether you have an accounting degree from a local univ or a professional accounting qualification from overseas.

If you plan to work as an accountant in the Malaysian private sector then definitely the employers will look for those with professional qualifications as these candidates are supposed to be far more well versed in accounting techniques as compared to just an MIA member who graduated from a local uni.

If you plan to work overseas then you will need a globally-recognised accounting qualification. If you have an ACCA/ICA/CIMA etc based in the UK then it may be easy for you to work in any Commonwealth countries or even in other European nations or other parts of the world, as compared to just being an MIA or just having MICPA.

Sometimes we may just brush away the thought of working overseas thinking that we may never have that chance in our life. But once you have a globally-recognised professional qualification you will know how to look for that chance and it will definitely come your way as compared to someone who doesn't have the qualification. But getting such a qualification is no walk in the park..you have to be very disciplined and it calls for hard work/struggle and more than 100% commitment. Doing a local accounting degree is nothing compared to going for a professional qualification. Through several decades I've seen a lot of students who gave up half way through their professional courses especially due to lack of focus or commitment.

This post has been edited by katakrabun: Feb 9 2015, 11:42 AM

Hi all, not sure if you heard of this news - the Institute of Chartered Accountants Australia (ICAA) has merged with the New Zealand Institute of Chartered Accountants (NZICA) since mid 2014. They are now known as Chartered Accountants Australia & New Zealand (CAANZ).

MICPA has been in partnership with ICAA since 2009, and run a joint programme - means graduates who take the MICPA-CAANZ Programme can qualify for 2 memberships and use the Chartered Accountant (ANZ) and Certified Public Accountant (Malaysia) titles. Only 5 papers for Bachelor of Accounting degree holders from accredited uni's. Most people I know taking it have completed within 2 years. Open book exams. Average passrate is high - around 70%.

There's this other benefit you get - the Global Accounting Alliance (GAA) passport. Gives you access to professional support across 11 countries around the world.

MICPA is a founding member of the International Federation of Accountants (IFAC) so it's definitely internationally recognised. With the partnership with CAANZ, that opens even more doors to countries that only recognise their own qualifications i.e. Oz & NZ.

Also - not sure if you heard about the CSAP report - all accountants should know about this as it affects the whole country & the profession in Malaysia - http://www.sc.com.my/post_archive/public-f...ncy-profession/

You will see why it is important to have a professional qualification from a professional body.

ACCA
Look at Airasia CEO, OCBC Bank Malaysia CEO...

Hi . Anyone of you know that after completed the acca exam , do we still need to pay for any fee?
I still have an overdue annurl subscription fee , but I passed all the papers already , do I still need to continue pay for the annual sub scription fee too ?
Am I going to get any cert or what ?
What to do when I going to the interview? ( I mean I should show the employer the recent result report or what ).

Hope somebody advice me on this few issues. Thanks alot ! ☺

Yes, you need to continue paying the annual fees.

Just use your results' transcripts to apply for job. The employers will know. You don't need to wait for the cert to come.

You will get a cert directly from ACCA after you passed all exams. You will get another temporary cert if you attend the graduation ceremony.

You will get another cert directly from ACCA once you got your full membership.

You will automatically get another cert directly from ACCA once you got your fellowship.

Thanks for your advice =)
Ok. Other than annual subcripstion fee I still need to pay any other fee ?

If i no attend the graduation ceremony , I won't be receiving the temporary cert ? So I have to use the status report which is directly generated from acca website right ?

Btw, do you know when am I relevant to apply for MIA member ? Is it after I finish my 3 years working experience ?

No other fees.

If you do not attend the graduation ceremony, I don't think they will send it to you. Anyway, it's just a temporary cert.

Yes, just print out the transcript from the website to apply for job. By the time graduation ceremony is held, probably you are working for a few months already.

You can apply for MIA membership after you get the full ACCA membership meaning that you have completed the 3-year working experience requirement. Whether you need to apply or not, it's up to you.

Hey Blofeld, wanna ask you something.

If you're working already while clearing Acca, once you completed the last paper and "graduate", does your past working experience count towards the 3 year requirement for the full membership or the 3 years only start after your completed the final paper?

Thanks

Ok. Thank you to make it clear to me .

Lastly , Is the annual subscription fee need to pay for lifetime ?
And if our mentor or leader in the company ( let's say I'm not joining the audit firm , but other industry ) is not qualified from any professional body but only degree holder , can he/she verify my working experience ? Or I need to look for the employer which is qualified from any professional body or approved employer ?

Thank you Blofeld

Sure.

Relevant working experience gained anytime during your lifetime is counted towards the 3-year requirement. Including those experience gained before you registered as an ACCA student provided it is relevant.

Yup, you have to pay the fees for a lifetime.

If your mentor is not a qualified accountant, you have to get the next level higher than your mentor to sign off for you.

If there is no one in your company who is a qualified accountant, get the external auditor of your company to sign off for you.

Worst case scenario if you have no one to sign for you, you have to change your job.

So, choose your employer wisely. The best is to get a job with an approved employer so that you don't have to answer those PER questions.

Annual fees...... Omg....

This is really unbecoming of an ACCA graduate. I am not sure whether it's the system or the person but I am seriously question the quality of ACCA students nowadays ( myself included ).

You need to pay it annually until you think you don't want to be an ACCA member anymore la..

If not, why call it annual fees?

And if your boss is a mere degree holder but his company is affiliated to ACCA in some way, he could verify your work experience.

My advise, enter Audit, suffer 3 damn long years and go out explore the market.

Damn sweet.

Meaning I can apply for MIA membership soon

Good!

Thank you so much Blofeld =)

my company offers to sponsor me to pursue MICPA

and thanks to this thread, i rejected the offer

why the reject?

actually because i'm looking out for a new job, and it requires me to get bonded with the company for 4 years
and after reading through this thread, hence, the reject..