Anyone a Chartered Accountant.........
- Thread starter shweta123
- Start date
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aashishmour
New member
yaa here is CAHiiiiiiii .......... anyone a CA here??
manojgehlot
Banned
finally! a thread related to finance. it seems jats are more into engineering/research type of roles. not a ca myself; working in investment banking.
i joined this thread just to see how many jats are in finance.
i joined this thread just to see how many jats are in finance.
anuaniljakhar
Banned
ya
n pursuing CA....
for help, u can call me
for contect see my profile..
do CA sincerely....
yes, here is MBA-finance...Hiiiiiiii .......... anyone a CA here??
n pursuing CA....
for help, u can call me
for contect see my profile..
do CA sincerely....
ambika1singh
New member
Fire your query!!
Hi Shweta,
Yup, a CA here!! Tell me what you wanna know!
Did my CA in 2004. Currently, I am a CIMA finalist.
Hi Shweta,
Yup, a CA here!! Tell me what you wanna know!
Did my CA in 2004. Currently, I am a CIMA finalist.
Hiiiiii
Hii !! good to hear frm u Ambika ji ! Actually i m a CA & qualified in May 2006 so was just searching for ppl in like profession..... so hwz life for a CA in UK!
ambika1singh
New member
Dear shweta,reality is not so rosy as it sounds. If you have to search for a job on your own in accountancy, the bitter truth is that the odds in favour of someone from India getting it are really low. Because first British people are prferred then the European Nationals then any one outside. Moreover, everyone asks for a UK experience. That is the reason why I had to pursue with CIMA.
But the good news is that if you deny to give up, sooner or later you would certainly get your chance. Though it may vary from individual to individual.However, this has been my experience. Once you get a job then you would keep getting job offers in your field.
Work Culture is really wonderful. There is nothing like stress as in India. salaries are really alluring. Very professional work ethics.No Sir Culture
But the good news is that if you deny to give up, sooner or later you would certainly get your chance. Though it may vary from individual to individual.However, this has been my experience. Once you get a job then you would keep getting job offers in your field.
Work Culture is really wonderful. There is nothing like stress as in India. salaries are really alluring. Very professional work ethics.No Sir Culture
Dear shweta,reality is not so rosy as it sounds. If you have to search for a job on your own in accountancy, the bitter truth is that the odds in favour of someone from India getting it are really low. Because first British people are prferred then the European Nationals then any one outside. Moreover, everyone asks for a UK experience. That is the reason why I had to pursue with CIMA.
But the good news is that if you deny to give up, sooner or later you would certainly get your chance. Though it may vary from individual to individual.However, this has been my experience. Once you get a job then you would keep getting job offers in your field.
Work Culture is really wonderful. There is nothing like stress as in India. salaries are really alluring. Very professional work ethics.No Sir Culture
Ya Ambika......rosy things do come with thorns! Thanx for the knowledge accredition
Well Ambika....... how long exactly it takes to complete CIMA?A CA from India has to clear all papers or their r some exemption in this regards?
M
msingh
Guest
Sweta let me tell you that CIMA as i am aware of is only provided in UK, after completeing this course you can look fwd to companies like PWC(preicewaterhouse coopers) CAP Gemini. I am aware as PWC is looking for proffesional with ACCA and CIMA degree...
As you are from theaccounting background and if you are serious enough this will be a helpful course and probably you will get excemptions depending upon the subjects.....
I can look for some info and i was doing a reserch with PWC and they strictly look for people who are certified in ACCA ir CIMA
As you are from theaccounting background and if you are serious enough this will be a helpful course and probably you will get excemptions depending upon the subjects.....
I can look for some info and i was doing a reserch with PWC and they strictly look for people who are certified in ACCA ir CIMA
Ya Ambika......rosy things do come with thorns! Thanx for the knowledge accredition
A CA from India has to clear all papers or their r some exemption in this regards?
thanks mam.
manojgehlot
Banned
since 2005 uk is seeing a strong financial market performance and the shortage of qualified finance professional is got acute in 2006 and 2007. to ease the pressure the UK immigration office has relaxed the visa criteria for finance professionals.
BAD NEWS: Here is the bitter truth. Pakistani CAs are much preferred here than Indian CAs. Reason - their skillset. Europe follows IFRS and so does Pakistan, so their CAs are already trained in IFRS and don't need any extra training for transition. The hot property are Pak CAs who have worked in gulf as the clients are MNCs there. In early years India was financially developed enough to frame it's own accounting standards. But pakistan never had the infrastructure to create it's own std's so it followed the european lead and implemented ifrs and it has become a blessing in disguise for them.
The way it works is - London hires mainly from other european countries (mainly Ireland coz of it being the only other english speaking country in EU) given easy access to labour and then CAs get attracted here given the salaries and career prospects.
Ireland then hires from Australia, South Africa, Bahrain, Dubai. Last year KPMG, Ireland went to pakistan to recruit 25 CAs and another 21 came as secondment from Taseer Hadi (which is KPMG pakistan). But all these CAs movement occurs in Big-four only (PWC, KPMG, EY, Deloitte).
GOOD NEWS: The good news is - this trend is mainly in Financial Accounting/Audit roles as these roles require IFRS expertise. Indian CAs can sell themselves in business functions and other specialist roles very well.
Deloitte India CAs often work in UK and US in SOX projects which can be considered as a big plus for Sox roles here.
BAD NEWS: Here is the bitter truth. Pakistani CAs are much preferred here than Indian CAs. Reason - their skillset. Europe follows IFRS and so does Pakistan, so their CAs are already trained in IFRS and don't need any extra training for transition. The hot property are Pak CAs who have worked in gulf as the clients are MNCs there. In early years India was financially developed enough to frame it's own accounting standards. But pakistan never had the infrastructure to create it's own std's so it followed the european lead and implemented ifrs and it has become a blessing in disguise for them.
The way it works is - London hires mainly from other european countries (mainly Ireland coz of it being the only other english speaking country in EU) given easy access to labour and then CAs get attracted here given the salaries and career prospects.
Ireland then hires from Australia, South Africa, Bahrain, Dubai. Last year KPMG, Ireland went to pakistan to recruit 25 CAs and another 21 came as secondment from Taseer Hadi (which is KPMG pakistan). But all these CAs movement occurs in Big-four only (PWC, KPMG, EY, Deloitte).
GOOD NEWS: The good news is - this trend is mainly in Financial Accounting/Audit roles as these roles require IFRS expertise. Indian CAs can sell themselves in business functions and other specialist roles very well.
Deloitte India CAs often work in UK and US in SOX projects which can be considered as a big plus for Sox roles here.
ambika1singh
New member
Dear Shweta & Manisha,CIMA is a global institution with numbers of centres worldwide, there are around five or six exam centres in India.You do have the opportunity to choose different centres for different papers as per your preference. CIMA is an international recognized qualification (acceptable even in US, Australia, Europe etc.).Course is quiet similar to CA, however the exam techniques are bit different.If you are a qualified CA, MBA or have masters degree in commerce, then you can easily get exemption in couple of Certificate (foundation)& Managerial (intermediate)Level papers.I'm telling you that CIMA is much easier than our CA.For benefit of everyone who is interested in getting info related to CIMA whilst cursoring through our conversation, here is the web address of CIMA - www.cimaglobal.com
Cheers...
Cheers...
@ thanx.........
Thanx Ambika ji........... ok....... can u tell me smething abt IFRS....
Thanx Ambika ji...........
ok....... can u tell me smething abt IFRS....manojgehlot
Banned
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manojgehlot
Banned
IFRS/IAS & impact on Indian CAs:
ok, another cloudy day and I'm having a long coffee break at work. so here goes my first very long post:
every country used to have their own accounting standards. In India it's Indian accounting standards (or Indian GAAP), in UK- UK GAAP, in Ireland - Irish GAAP in US- US GAAP. So every country had it's accounting body, which developed accounting standards suitable to its environment. But it lead to unnecessary cost for companies that are listed in more than one jurisdiction.
Take example of a US company having subsidiaries in 5 countries and listed in 2 stock exchanges in say india and US. Each subsidiary has to submit it's accounts to the local authorities and these accounts are to be prepared in accordance with local standards. Ok not a big task.
Submission to US stock exchange (or the SEC) - it has to submit global consolidated accounts prepared according to US GAAP.
Submission to Indian stock exchange - same global consolidated accounts prepared according to Indian GAAP.
The big task is - each of the 5 subsidiaries has to prepare 3 set of accounts 1. according to local standards to submit to the local authority; 2. according to Indian accounting standards and sent to head office for global consolidation which are then submitted to Indian Stock Exchange. 3. according to US GAAP (same as point 2 but for US stock exchange)
Now think of companies having subsidiaries in more than 100 countries and listing in 10 stock exchanges (there are many that meet this criteria). So we are talking about global consolidation of all 100 operations according to 10 different country standards. Massive task for a company but they had to do it
Given the advent of globalisation, in early 90s the concept of International Accounting Standards (or IFRS - International Financial Reporting Standards) was initiated to have uniform accounting standards globally. But would all countries buy the idea?? At present the condition is the whole Europe has adopted IFRS (since 2005) including UK. The rest of the world is serious about it. Pakistan adopted in 2006.
By the way, US still has it's US GAAP.
Impact on CA (ACA as it's called here) qualification in europe: All chartered accountant institute in Europe now only study IFRS. First batch with IFRS study qualified in 2007.
Impact on companies - to change from local standards to IFRS all companies had big conversion projects hiring accounting firms to do it. Becuase of these conversion project, the demand of IFRS specialist (or IFRS qualified CAs) was very high.
Implications for Indian CAs looking to work abroad:- as Indian CAs don't have IFRS knowledge so financial reporting/ accounting / auditing roles would be very hard to get into. But still other finance roles (and there are lot of) are open for them. The key is to have a strategy and targeting the right jobs otherwise indian CAs would be just shooting in the dark.
I just checked to see whether India is thinking of adopting IFRS and here is the update:
Oct 06: "The Institute of Chartered Accountants of India (ICAI) has set up a task force to explore the possibility of adopting all International Financial Reporting Standards in full, without modification, as Indian standards. The 11-member task force is chaired by S C Vasudeva, chairman of ICAI's accounting standard board."
April 06: "The Prime Minister of India Manmohan Singh has announced that his government will introduce comprehensive new company legislation that will include aligning Indian accounting standards with IFRSs"
Adoption of IFRS by India would substantially increase the employability of CAs in foreign markets especially Europe.
i can't believe i wrote such a long post. hmm... never underestimate the power of coffee & a cloudy day.
cheers
Thanx Ambika ji...........
ok, another cloudy day and I'm having a long coffee break at work. so here goes my first very long post:
every country used to have their own accounting standards. In India it's Indian accounting standards (or Indian GAAP), in UK- UK GAAP, in Ireland - Irish GAAP in US- US GAAP. So every country had it's accounting body, which developed accounting standards suitable to its environment. But it lead to unnecessary cost for companies that are listed in more than one jurisdiction.
Take example of a US company having subsidiaries in 5 countries and listed in 2 stock exchanges in say india and US. Each subsidiary has to submit it's accounts to the local authorities and these accounts are to be prepared in accordance with local standards. Ok not a big task.
Submission to US stock exchange (or the SEC) - it has to submit global consolidated accounts prepared according to US GAAP.
Submission to Indian stock exchange - same global consolidated accounts prepared according to Indian GAAP.
The big task is - each of the 5 subsidiaries has to prepare 3 set of accounts 1. according to local standards to submit to the local authority; 2. according to Indian accounting standards and sent to head office for global consolidation which are then submitted to Indian Stock Exchange. 3. according to US GAAP (same as point 2 but for US stock exchange)
Now think of companies having subsidiaries in more than 100 countries and listing in 10 stock exchanges (there are many that meet this criteria). So we are talking about global consolidation of all 100 operations according to 10 different country standards. Massive task for a company but they had to do it
Given the advent of globalisation, in early 90s the concept of International Accounting Standards (or IFRS - International Financial Reporting Standards) was initiated to have uniform accounting standards globally. But would all countries buy the idea?? At present the condition is the whole Europe has adopted IFRS (since 2005) including UK. The rest of the world is serious about it. Pakistan adopted in 2006.
By the way, US still has it's US GAAP.
Impact on CA (ACA as it's called here) qualification in europe: All chartered accountant institute in Europe now only study IFRS. First batch with IFRS study qualified in 2007.
Impact on companies - to change from local standards to IFRS all companies had big conversion projects hiring accounting firms to do it. Becuase of these conversion project, the demand of IFRS specialist (or IFRS qualified CAs) was very high.
Implications for Indian CAs looking to work abroad:- as Indian CAs don't have IFRS knowledge so financial reporting/ accounting / auditing roles would be very hard to get into. But still other finance roles (and there are lot of) are open for them. The key is to have a strategy and targeting the right jobs otherwise indian CAs would be just shooting in the dark.
I just checked to see whether India is thinking of adopting IFRS and here is the update:
Oct 06: "The Institute of Chartered Accountants of India (ICAI) has set up a task force to explore the possibility of adopting all International Financial Reporting Standards in full, without modification, as Indian standards. The 11-member task force is chaired by S C Vasudeva, chairman of ICAI's accounting standard board."
April 06: "The Prime Minister of India Manmohan Singh has announced that his government will introduce comprehensive new company legislation that will include aligning Indian accounting standards with IFRSs"
Adoption of IFRS by India would substantially increase the employability of CAs in foreign markets especially Europe.
i can't believe i wrote such a long post. hmm... never underestimate the power of coffee & a cloudy day.
cheers
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Keep drinking such coffee & enlightining us!!- Status