ACCA vs Degree

whm SG

Please help!

I have 5 years working experience in banking treasury industry.

I would like to upgrade my qualification. Currently, I'm comtemplating a Degree or ACCA.

Please advice which qualification is more recognised in my industry.

I found out ACCA required Pratical Experience Requirement (PER). Is my current job relavant?

Detached SG

To be eligible for the examination (ACCA), you need to be minimally a diploma (polytechnic) or an 'A' level grad. Otherwise, you can sign up via the mature student route (over 21 years old).

However, even after completing the last professional paper (14 papers total) of ACCA, you still won't be ACCA-qualified... Till you clocked 3 years of working experience in an accounting/finance role...

Your workplace mentor must be an CPA (someone correct me if I'm wrong), so you might be in a banking treasury industry, but all these while if you've been doing is irrelevant... under the charge of someone who is irrelevant... then no..

For more ACCA related discussion, you should check hwz education forum (degree section) out. Sgf's support forum is not for stuff like this.. Anyway, if you learn how to use google properly, you'll properly find out more things

whm SG

Thanks, Detached.

@ least I know I won't be relavant if I get my ACCA for my industry.

NG QIBO AARON AUBREY SG

get cfa

Detached SG

Thanks, Detached.

@ least I know I won't be relavant if I get my ACCA for my industry.

Well, pal.. Since you're sincere enough to reply...

If you're really set on being an auditor/accountant, ACCA is going to be worth the effort.. It has a very technical syllabus to prepare you for your future career, but it's very demanding and unforgiving (should you choose to slack or fail to revise consistently). The recognition I presume you already know of, so I wouldn't touch on it.

But if you're looking for career versatility, I'd think that a degree would be more favorable. Better still, if you think you can cope.. Go do a degree, perhaps in banking and finance or business and top it up with ACCA or another professional qualification. It's not gonna be easy, for your reference the global passing rate for ACCA linked below.

http://financial.kaplan.co.uk/TrainingandQuals/DistanceLearning/ACCA/Pages/KaplanDistanceLearning-Studentsoutperform.aspx

And just for your information (pardon me if you already knew), ACCA has tied up with Oxford Brookes Uni.. therefore with the completion of your ACCA, you'll get a Bsc (honors) in applied accounting too (bachelor's degree)... That will help if you've intentions of doing your masters/postgrad education in the future.

Hope that helps, if you've any other questions feel free to pm me.. and next time post in the right forum ^^

Detached SG

get cfa

TS would need a degree in order to be a CFA charter holder. After which, he still will need to clock 48 months of investment experience to qualify to be a CFA. And it's not just some nonsense financial consultant/insurance agent kinda position... It needs to be real investment work..

For the time, money and effort, it's more sensible to do a bachelor/master in finance than to do CFA unless it's needed by his current job.

I mean.. lol.. everyone wants to work in an investment bank as someone in an investment position.. but get real.. how many people landed that job?

whm SG

Hi Detached

Really grateful for your reply.

At least I have a better understanding now.

Really sorry for the embrassment I created.

Nice talking to you. =)

Detached SG

Hi Detached

Really grateful for your reply.

At least I have a better understanding now.

Really sorry for the embrassment I created.

Nice talking to you. =)

Nothing worth mentioning, I'm just glad I can help one way or another. I was caught in the same dilemma at a certain point of my life, it's good to share information/knowledge =)

If you don't mind me asking, how old are you? What degree you're looking to do? What's your future career plan?

whm SG

I'm 27. Has worked hard to grow in my career. However, I realised I need a qualification to move further.

After hearing ur advices, I plan to go for a part time degree course. I need to find out which institution offers the best degree and the recognition now.

Actually, I have signed up for ACCA 2 years ago and managed to passed 2 papers by self study. But, I find I'll take very long to complete the whole course and I've decided not to go into accounting or auditing fields given my current experience is not related @ all.

Detached SG

I'm 27. Has worked hard to grow in my career. However, I realised I need a qualification to move further.

After hearing ur advices, I plan to go for a part time degree course. I need to find out which institution offers the best degree and the recognition now.

Ahh, you're my senior in life. Good evening, senior

Would you share with me your job designation and job scope? And what degree course are you looking at? Perhaps I can further advise?

Passed 2 papers by self-study? F1 and F2? Or is it F2 and F3?

12 papers remaining, say if you do 3 papers per sem.. It will only take 2 years - could be shorter than a degree course. But pity your heart lies not in audit/accounting.

charlize SG

Oh sorry, my bad.

I think CFA requires a bachelor's degree before you can take level 2 onwards.

whm SG

The syllabus changed. Should be the law and information system paper.

i'm in the banking treasury industry, not the dealing side.

maybe a general business degree is my option now.

do u have any recommendation?

as u r mentioning abt working under a cpa..... for the acca - PER, I think i can hardly be credited.

Detached SG

Oh sorry, my bad.

I think CFA requires a bachelor's degree before you can take level 2 onwards.

Lol.. Whatever it is.. We know that... NO DEGREE NO TALK LAH! Summarized and simplified

whm SG

yes. I learnt it the hard way. =)

charlize SG

Acca is a good option.

Most people I know who have acca are doing relatively well.

Detached SG

The syllabus changed. Should be the law and information system paper.

i'm in the banking treasury industry, not the dealing side.

maybe a general business degree is my option now.

do u have any recommendation?

as u r mentioning abt working under a cpa..... for the acca - PER, I think i can hardly be credited.

Yea, the syllabus changed. Used to be call 1.1, 1.2, 1.3.. it's all F F F F F now.. I guess F1 - F9.. 9 Failures total... oops.. I mean 9 fundamentals

Well.. IF I were to do a part-time business degree, I'd probably do the one the SIM-UOL one..

A few things you've to consider carefully.. if your age is a factor, money and whether if you're able to cope with working and studying, UOL programs are also known to be intensive, with only one exam a year to decide your fate.. And the passing mark for the papers is like 34 out of 100? Lol... But it's still not easy...

Another consideration would be the value of the degree.. True you can spend 1 plus to 2 years to obtain a degree.. but what is the value of it? I'm not targeting this at anyone (no offense, really) but there's really no point in doing a degree which is not... recognized by employers...

Detached SG

Acca is a good option.

Most people I know who have acca are doing relatively well.

Relatively well, brother lol..

If you want to drive a flashy car and live in Sentosa Cove... Even a degree from Stanford does not guarantee that Gotta bring out the entrepreneur in you

A typical path for an auditor would be like junior > senior > asst manager> manager > senior manager > partner... but how many made it to become a partner?

Or how many CFOs are there?

deepak.c SG

Acca is a good option.

Most people I know who have acca are doing relatively well.

You sure?

I am unemployed.

Detached SG

Full ACCA cert?

You must be unemployed by your own choice/doing, bring your certifications to one of the big 4s or mid-tier audit firms, I dare bet $39393838 you will get a job lol..

If you don't.. Chances are something must be very wrong with you