Coming from a family of chartered accountants , I think I heard about the examinations of the Institute of Chartered Accountants of Nigeria (ICAN) at a quite early age, probably from primary school. I heard all such tales about ICAN exams. I used to see ICAN exams as one monster.

To compound my fears, when I crossed from being a science student to a commercial one in second term SSS 1 in 1998, apart from mathematics, accounting was the subject I dreaded most. Thankfully, accounting, unlike math, has some theoretical parts (all those ‘name 5 types of account’, ‘what is a subsidiary book?’, etc questions), so I still managed to pass, banking on those ‘story’ aspects.

In the university, studying economics, I had option to take elective courses in departments such as Management and Accounting, Sociology, Geography, Demography and Social Statistics, and psychology.

To add insult to injury, my school’s management and accounting department was not the most organized of departments as my friends in the department used to complain about cases of loss of scripts due to the high volume of students. So I found in Sociology and Psychology departments elective allies, and the Alphas were almost always guaranteed, never mind the headache those abstract Sigmund Freud theories in Psychology 204 gave me.

I was still able to avoid accounting in the university. At least, I remember a friend's accounting exams script missing in our 200 level. That was definitely not an experience I would like to have, further fuelling my hatred for accounting.

From my interactions with folks, especially the less informed ones, I have come to observe the reason why people dread ICAN and their exams. The following are the 4 major myths about ICAN:


1. ICAN DELIBERATELY FAILS STUDENTS: Giving the failure rate recorded in ICAN exams, I can pardon people for believing this. But this is actually a lie. I personally hold that no examination body will deliberately fail you if you pass, not least ICAN. I have heard all sort of tales like ICAN fail people so as to make money from exam fees. This is a big fat lie. As far as I know – and I think I know farthest – if you score 50% in any ICAN exams, you will never fail that paper. Of course, there was a time when if you failed woefully in one subject, you will be required to rewrite other papers you passed in same diet, but this was not a secret as the system was made known in their students guideline. This system has since been jettisoned, except at the final stage when you are required to pass a number of subjects for you not to rewrite others you passed. So students should purge their mind of this erroneous belief. I never believed it anyway, and anytime I get to advise ICAN candidates, including in my first class in the ICAN center I was lecturing a while back, the first thing I do is cleanse their mind of this pessimistic mindset. How can you go to a war with a mindset that your efforts will not count? ICAN will not fail you if you pass, and there is no way you can score 50% in a subject and marked failed.

2. ICAN IS A YORUBA AFFAIR: I was having an introductory class with some ICAN students last year. They were preparing for Foundation examinations and that was their first attempt. In the process of ‘sermonizing’ on how students bandy unfounded myths around, trying to demystify their self-inflicted fears, one student from the eastern part of Nigeria asked me, ‘Oga, but I heard ICAN is a Yoruba body. Only Yoruba people do and pass it’. I laughed. I knew Nigerians are incurable ethnic wolf-criers, but I never knew it had reached that extent. I am aware Nigerians like to raise ethnic false alarm and cry tribal victimization when something doesn’t go in their favour, but I never knew such thoughts could be nursed of a professional body like ICAN. Well, I told her it’s a big fat lie. ICAN is not and can never be a Yoruba affair. Irrespective of where you come from, if you pass ICAN exams, nobody will deny you based on your tribe.

3. ICAN IS A SOUTHERN BODY: I have heard a couple of northern friends, especially those in public service, accuse ICAN of being a southern thing. For this reason, many northerners believe they are being sidelined. Many northerners prefer to go for a rival accounting body. Again, this is naked myth. Besides, northerners have being presidents of the association.

4. ICAN IS A CULT: Given the solidarity and bond that exist among ICAN members, you can forgive those that hold this myth. I have heard people say ICAN is a cult, that they only admit certain people. Naija people sha. ICAN is the most transparently run Nigerian professional body I know. Everything about it is transparent. Of course, they are like a family, with young members treating the older and senior ones with high reverence.

http://www.jarushub.com/4-myths-about-ican/

5. Being a chartered accountant won't guarantee you a good job

3rd to comment

ICAN ICAN ICAN

All these certificates they acquire self and still companies don't pay peeps the worth of their certifications... Nigeria I hail.

True.

No one cares ACCA > I CAN

No one cares ACCA > I CAN
Nuff said

All I can see here is one sided judgment and ridiculous myths.







ICAN, Yes we can!

Nigeria is programmed to give little or no relevance to paper qualification. Paper is an added advantage after the main qualifying question of "who sent you here?" But in business, it is all about thinking smart to make money.

Who nor go nor knw, ICAN is not for the fainted of brains , u have to be well grounded in accounting and all. Take it from an accountant.

I'll write it and pass no matter what. But how come a medical doctor got ICAN certificate even when he didn't go through the foundations? ICAN sometimes play games. QED.

ICAN??

sorry I CAN'T

as per omo science student

that Yoruba part weak me o

Xxpress:
5. Being a chartered accountant won't guarantee you a good job

Please define your parameters for a good job.
Thanks

Ok..

Passing ican from the way I view it has two major ingredients:
1: Hardwork and adequate preparation
2: Prayer.
Am not being spiritual here. But when u feelbu wrote an exams well and you are expecting good score, u may end up seeing a bad result. It's human beings that mark and record ur script, they are subject to errors. Once u commit ur paper to the God u believe in, the examiner will not joke with ur script.

I always know if I will pass an ican exams or not based on my preparation level and faith. Simple

Xxpress:
5. Being a chartered accountant won't guarantee you a good job

Sure, there is no guarantee it does. Even being the best student in a class does not. However, it improves one's chances of getting the good job. Most recruitment requirements come with "...a certification (ICAN most of the time) is an added advantage". This post demystifies the notion some have about ICAN.

To butress op's point,with the likes of CIMA,Anan,ACCA around, i believe the chances of failing student is slim due to competition
2. The current president of Ican is a Northerner which is Alhaji Isma’ila Muhammadu Zakari, even the famed 49th president of Ican Alhaji Kabir Alkali Mohammed hails from Kebbi
3. Check two
4. They ain't a cult at all but at times with the way they conduct their ceremonies,u could be forced to believe it's a cult

atleast no one is saying it is a CAN body as in I CAN

The secret of passing ICAN exam centres majorly on understanding the core fundamental principles of entity concept (separation of ownership from control), double entry and transaction analysis.. If these principle are not brought from realm of abstract to reality and internalized by an aspiring professional account, your accounting journey becomes a very challenging one. Your journals, TB, ledgers, account extracts , financial statements and their analysis are product of the principles, the entire accounting framework and the current IFRS are all derivates of those fundamental principles.

Get hold of the principles and your accounting journey becomes a smooth one, the extra baggage you need is a good knowledge of basic mathematics and enough time to cover your course work. over and out in 3 to 4 diets.

All you said about the myths is correct.I stared with ICAN from the level one of ATS,qualified as an AAT,proceeded to professional stage in 2001.I.left it half way for higher calling having a paper in P.E 1and the final stage to qualify as a Chartered Accountant.To excel.in ICAN you.must be dedicated.Its the most disciplined professional body in Nigeria.ACAs can excel if they opts to train as a lawyer.You can't cheat in the exams,no one to bribe.You don't know the examiners,you dont know the invigilators etc.Attend one of the best and approved ICAN you tutorial centres to increase your chances of excelling.

Hmm eye opener

Learn a better skill... Pure waste of time

Xxpress:
5. Being a chartered accountant won't guarantee you a good job

Not necessarily, but it will really go a long way!

Ican isn't a difficult as people made us believe

I wrote both the skills and professional levels once and I'm now a chartered accountant

And many more people too have.

Just draw inspiration from the acronym which is I-CAN and see yourself scaling through

thank heavens engineering COREN and NSE exams no be jamb affair like ICAN �