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ACCA Or ICAN: Which Is Better? - Career (5) - Nairaland

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Please Narialanders I Need Your Help And Advice.(doing An Mba, Acca Or Ican). / Acca Or Ican Which Should I Go For? Pls Advice / Accountants: ACCA, ICMA Or ICAN. (1) (2) (3) (4)

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Re: ACCA Or ICAN: Which Is Better? by tos(m): 5:15pm On Jan 06, 2011
scud:

I will like to tell you that none is better. Each is just good.

I am an ICAN member and also writing ACCA and I will like to base my conclusion on this premise.

On ACCA- ACCA is a second class certification when compared to ICAEW & ACA in England & Wales, and in International level, ACCA is not recognized for membership by most of the leading economy withou firstly doing exams and these include USA, Canada, Australia etc. The reason is that ACCA is not really a local body but international accounting body.
However, with ACCA you are exposed to new methodologies because of its internationalization which has to do with International Financial Reporting Standards, Business Ethics etc

On ICAN- this is the most revered accounting institute in Africa. However, the problem that ICAN has cannot be isolated from Nigeria. It is based on the fact that if the macro is problematic, the component micros will be. I used 2 years to finish ICAN (and inducted in 2007) and it helped me to quickly get on with my ACCA (I have 2 papers to completion and I never attended ACCA lectures in Nigeria but using my ICAN notebook along)- there was nothing new in ACCA that I did not learn in ICAN-be it derivatives, international & local financial reporting, business valuation, Relational Database Management System. If Nigeria turns good today, there is now way for ACCA oo because all over the world, the most paid are those with locally recognized authority.

However, as of today, I will recommend that you should write ACCA so that you can use back door to join ICAN, but if you don't have money to pursue it, do ICAN- there is no discrimination when looking for qualified accountant in Nigeria

Whether na ACCA or ICAN just ensure that you are sound and can make money


You obviously dont know anything about ACCA. Why would you refer to ACCA as second class certificate in the UK. The most popular accounting certification in the UK is what you called second class? There is no country that will not prefer its own local certification to any foreign one. Even in the US, certifications differ from state to state and ACCA holders are allowed to write the CPA qualification exams.

I agree that knowledge gained when writing ICAN will definately help when writing ACCA but to an extent. They both have different ways of setting questions and most of the subjects in ACCA are scenario based. I honestly think that you need to study very well to pass ACCA. Though the oyinbos are more lenient in the ways they mark papers.
Re: ACCA Or ICAN: Which Is Better? by scud(m): 1:47pm On Jan 07, 2011
@tos:

You must learn how to use empirical evidences in order to come to a conclusion. My statement of second class was made when compared to local accountancy bodies not that the certification is a second class (please read the spirit of what I am writing). I myself would not have sat down for a second class certification because I strive for the best.

My question are:

1. Which certificate is the most preferred (which commensurate with higher pay in UK)?- please use UK salary checker

2. How many years of working experience would you have had before you can be admitted to ICAEW?

3. How many accountancy bodies in the leading economy has relationship with ACCA ( i am not talking of ANAN equivalent)?

4. Which one is harder between ICAEW & ACCA?

5.If you have the opportunity to write ACCA & ICAEW, which one would you have written?

I asked the question so that you can see the shortcomings of ACCA and people should not just take it hook-line and sinker.

I am writing ACCA because I want to migrate and at least to have an Internationally recognized accounting certificate and of International Financial Reporting. However, I was shocked to know that the leading bodies in Australia, Canada and even South Africa does not just admit you like that (the way ICAN just admit ACCA) without writing exams.

As you said, I am preparing well o as I am already reading for June diet and I have Corporate Finance & Valuation by Bob Ryan (P4) for my P4 (just been sarcastic).

If you can answer my questions favourably, I will swallow my pride and follow you.
Re: ACCA Or ICAN: Which Is Better? by haykay2005: 3:31pm On Jan 07, 2011
am in ACCA part 2,i just want to knw if the oxford brooks university degree is truly not recognised so that we can knw our fate.pls, i want comment on this too
Re: ACCA Or ICAN: Which Is Better? by tunnytox(m): 7:04pm On Jan 07, 2011
@scud

I won't totally agree with you that the ACCA is second class qualification, there are certain factors which seems to point into that direction but to me its still inconclusive.

What i noticed about the ICAEW and many other reciprocal bodies in Scotland, Ireland, Canada, Australia, and New Zealand is that they are operated in a form that really prevents some certain set of people to become CAs. Whilst anyone can sit for the ACCA exams anywhere that is not the case for many of these bodies, for instance ICAEW exams can only be attempted up to a certain point after which you must get a Training contract with an ICAEW member firms before you can be allowed to take any more exams. In fact in the past you cannot take ICAEW exams without obtaining a training contract first. These training contract is difficult to come by, the spaces are limited every year and its very competitive which makes it almost impossible for foreigners except the exceptionally brillant to get in. this is a sort of mechanism they have used to filter those who could eventually become CAs. In most other countries I mentioned above the procedures is almost the same, in fact you cannot even attempt to register with the Canadian Institute of Chartered Accountants unless you are a Canadian or permanent residents.

If you look at the UK for instance qualifications such as CIPFA is very highly rated especially if you are working in the public sector, you'll need CIPFA more than ICAEW if you are a public sector worker. Also, CIMA is also a very good qualification if you intend to work as a management accountant, you could get reciprocal membership with CMA Canada for instance with the UK CIMA qualification. With the ACCA as well you'll get a substantial exemptions from the CMA canada especially if you focus of P4 and P5.

In conclusion I won't say that ACCA is a second class qualifications there are many factors to consider before such conclusion can be made.
Re: ACCA Or ICAN: Which Is Better? by DisGuy: 8:01pm On Jan 07, 2011
JUST passing through,


isn't it obvious that if you have done ICAN before ACCA you will find ACCA easy??

I mean you have done a qualification derived from ACCA and localised some aspect, then you go on to do the real thing probably with some working experience- then again think about the resources available to you during that time, you'd most probably have done it after in Nigeria, whilst working, after university etc etc

after studying for a BA in accounting studying for a master level accounting and finance qualification wont be that much harder would it?

now where is the exit button cheesy
Re: ACCA Or ICAN: Which Is Better? by tos(m): 2:17pm On Jan 10, 2011
scud:

@tos:

You must learn how to use empirical evidences in order to come to a conclusion. My statement of second class was made when compared to local accountancy bodies not that the certification is a second class (please read the spirit of what I am writing). I myself would not have sat down for a second class certification because I strive for the best.

My question are:

1. Which certificate is the most preferred (which commensurate with higher pay in UK)?- please use UK salary checker

2. How many years of working experience would you have had before you can be admitted to ICAEW?

3. How many accountancy bodies in the leading economy has relationship with ACCA ( i am not talking of ANAN equivalent)?

4. Which one is harder between ICAEW & ACCA?

5.If you have the opportunity to write ACCA & ICAEW, which one would you have written?

I asked the question so that you can see the shortcomings of ACCA and people should not just take it hook-line and sinker.

I am writing ACCA because I want to migrate and at least to have an Internationally recognized accounting certificate and of International Financial Reporting. However, I was shocked to know that the leading bodies in Australia, Canada and even South Africa does not just admit you like that (the way ICAN just admit ACCA) without writing exams.

As you said, I am preparing well o as I am already reading for June diet and I have Corporate Finance & Valuation by Bob Ryan (P4) for my P4 (just been sarcastic).

If you can answer my questions favourably, I will swallow my pride and follow you.

@ Scud - My reponse to your earlier post was based on fact and my experience of the UK accountancy job market. Let me respond to the question you asked above:

1. Which certificate is the most preferred (which commensurate with higher pay in UK)?- please use UK salary checker - I still maintain that ACCA is the most preferred certification in the UK. ICAEW, ACCA and CIMA are all CCAB bodies and are recognised for employment purpose in the UK. Though each of these CCAB bodies are relevant depending on industries. ACCA is the most relevant in the UK private sector, while CIMA and ICAEW are most relevant to the manufacturing and the public sector practice (accounting firms), respectively. Though in recent years, leading accounting firms such as KPMG and PwC have been encouraging their new intakes to take the path of ACCA instead of ICAEW.

2. How many years of working experience would you have had before you can be admitted to ICAEW? I dont understand the point you were trying to make here. However, affiliates of ICAEW and ACCA are required to acquire 3 years of relevant work exprience before they can be admitted as full members.

3. How many accountancy bodies in the leading economy has relationship with ACCA ( i am not talking of ANAN equivalent)? I believe I answered this question in my earlier post on this topic. ACCA has bilateral relationships with most major accountancy bodies in the world (about 57 to be precise). These relationships are either at examinations, CPD and professional levels. Like I poited out earlier, most local accountancy bodies will expect ACCAs to understand their local laws and taxations, hence the reason they are required to write and pass these subjects in most countries such as Canada.

4. Which one is harder between ICAEW & ACCA? This question is subjective. People assume a certification is difficult to get because they have attempted it. I therefore cannot give you a definite answer here.

5.If you have the opportunity to write ACCA & ICAEW, which one would you have written? I had the opportunity to write the two exams but opted for the one that was more relevant to my career path. That being said, do you know that most students in the UK prefer to write ACCA instead of ICAEW? I will suggest you visit some Kaplan or BPP and you will realise what i'm saying.

Pls dont get me wrong, I am not saying ICAEW is not a good certification to have but my argument here is based on fact.
Re: ACCA Or ICAN: Which Is Better? by haykay2005: 2:24pm On Jan 10, 2011
@tos.wots ur contribution to oxford brokke degree,it is tru is not reliable both locally and internetionally?pls i want ur comment on this
Re: ACCA Or ICAN: Which Is Better? by tos(m): 5:39pm On Jan 10, 2011
haykay2005:

@tos.wots your contribution to oxford brokke degree,it is tru is not reliable both locally and internetionally?pls i want your comment on this

Why do you think so many people are opting for it if it's reliable. OBU is a reputable university in the UK and degrees awarded by it is well recognised by employers in the UK. Employers believe that the award of OBU BSc degree shows that you have acquired the basic skills of a normal accounting graduate.

Also, CPA in the US consider the modules taken before acquiring the OBU degree as part of the 130 credit hours required before you can be allowed to write the CPA exams.
Re: ACCA Or ICAN: Which Is Better? by tunnytox(m): 10:24pm On Jan 10, 2011
@scud

What i noticed about the ICAEW and many other reciprocal bodies in Scotland, Ireland, Canada, Australia, and New Zealand is that they are operated in a form that really prevents some certain set of people to become CAs. Whilst anyone can sit for the ACCA exams anywhere that is not the case for many of these bodies, for instance ICAEW exams can only be attempted up to a certain point after which you must get a Training contract with an ICAEW member firms before you can be allowed to take any more exams. In fact in the past you cannot take ICAEW exams without obtaining a training contract first. These training contract is difficult to come by, the spaces are limited every year and its very competitive which makes it almost impossible for foreigners except the exceptionally brillant to get in. this is a sort of mechanism they have used to filter those who could eventually become CAs. In most other countries I mentioned above the procedures is almost the same, in fact you cannot even attempt to register with the Canadian Institute of Chartered Accountants unless you are a Canadian or permanent residents.

If you look at the UK for instance qualifications such as CIPFA is very highly rated especially if you are working in the public sector, you'll need CIPFA more than ICAEW if you are a public sector worker. Also, CIMA is also a very good qualification if you intend to work as a management accountant, you could get reciprocal membership with CMA Canada for instance with the UK CIMA qualification. With the ACCA as well you'll get a substantial exemptions from the CMA canada especially if you focus of P4 and P5.

In conclusion I won't say that ACCA is a second class qualifications there are many factors to consider before such conclusion can be made.
Re: ACCA Or ICAN: Which Is Better? by yodiyokun(f): 3:36pm On Jan 13, 2011
Piggy backing on tunnytox.

Accounting profession in the west is practiced differently than in Naija. In Nigeria we really have only one designation ACA (is there a management accounting designation in Nigeria). It covers both public accounting, general accounting.

In these other countries they have a CA designation that is mainly for those that want to practice in Public accounting. To obtain this designation you must have a accounting degree frrom an accredited university; then you will work to get expereince at a Big 4 or 5 public accounting firm; then you write final exams to qualify.

These is generally the most sought after accounting designation in UK, Canada (US CPA is different multiple choice questions and you are good to go).

Additionally in these countries you have other accounting designations like ACCA, CIMA (UK) or CGA and CMA in Canada.
These other accounting designations are not specifically for public accounting( though they could depending on what the law says in those countries); their focus is different and the way they structure their learning is different. However, research shows that whatever designation you obtain, you still chart your own course for a successful career.
There are CA's CMA's and CGA in CFO and CEO positions all over Canada. It really depends on you and what you want to do.
If you are into the hype a CA is much more prestigious. It's not equivalent to a Nigeriann ACA because the Nigerian ACA does not have a mandatory Public accounting/auditing requirement with a firm.
Re: ACCA Or ICAN: Which Is Better? by tunnytox(m): 7:02pm On Jan 14, 2011
yodiyokun:

Piggy backing on tunnytox.

Accounting profession in the west is practiced differently than in Naija. In Nigeria we really have only one designation ACA (is there a management accounting designation in Nigeria). It covers both public accounting, general accounting.

In these other countries they have a CA designation that is mainly for those that want to practice in Public accounting. To obtain this designation you must have a accounting degree frrom an accredited university; then you will work to get expereince at a Big 4 or 5 public accounting firm; then you write final exams to qualify.

These is generally the most sought after accounting designation in UK, Canada (US CPA is different multiple choice questions and you are good to go).

Additionally in these countries you have other accounting designations like ACCA, CIMA (UK) or CGA  and CMA in Canada.
These other accounting designations are not specifically for public accounting( though they could depending on what the law says in those countries); their focus is different and the way they structure their learning is different. However, research shows that whatever designation you obtain, you still chart your own course for a successful career.
There are CA's CMA's and CGA in CFO and CEO positions all over Canada. It really depends on you and what you want to do.
If you are into the hype a CA is much more prestigious. It's not equivalent to a Nigeriann ACA because the Nigerian ACA does not have a mandatory Public accounting/auditing requirement with a firm.

I don't know of Canada but in the UK getting a CA designation does not mean you want to practice as an auditor (or Public practice as you call it), you are right that CA stuidents need to get a degree (not necessary an Accounting degree in fact degree in other discipline are always welcomed). In fact ICAEW now takes AAT student! which means you may not need a degree afterall. You are also right that CA student will have to train with an accounting firm[b] (but not necessarily the bid 4 or 5 in the UK you can train with any ICAEW registered member firms).[/b]

With the CA designation you get in the UK, while applying for a training contract with a registered member firms you must choose you area of concentration which may be: Audit and Assurance, Corporate Taxataion, Corporate Finance, Risk Management, Pension and Acturial etc. Once you choose you area of concentration that is what you career will channel towards achieving, although you'll have experiences of other area as well.

Also in the UK there's CIPFA which is mainly for accountants who want to practice in the public sector i.e goverment agencies, local & central government e.t.c You have no business writting CIPFA in the UK if you are not working or intend to work in the Public sector.
Re: ACCA Or ICAN: Which Is Better? by Serendipity: 6:14pm On Jul 28, 2011
Good evening, please do you know if a Law graduate can take:
* ACCA (Association of Chartered Certified Accountants) exams.

*ICAN (Institute of Chartered Accountants of Nigeria) exams.
Thank you.
Re: ACCA Or ICAN: Which Is Better? by sharpman1(m): 10:39am On Aug 03, 2011
Serendipity:

Good evening, please do you know if a Law graduate can take:
* ACCA (Association of Chartered Certified Accountants) exams.

*ICAN (Institute of Chartered Accountants of Nigeria) exams.
Thank you.

ANY graduate can take any of them . . . . . . . . . . .
Re: ACCA Or ICAN: Which Is Better? by Serendipity: 9:40am On Aug 10, 2011
sharp man:

ANY graduate can take any of them . . . . . . . . . . .
Okay, thank u.
Re: ACCA Or ICAN: Which Is Better? by Efehiaea(f): 6:22am On Sep 02, 2011
Pls, i want to know if there are charged included in paying for papers through master card and how much is the current pounds to naira
Re: ACCA Or ICAN: Which Is Better? by Yomit2(m): 12:07pm On Sep 08, 2011
Does anyone in d hse know d exemptions that someone with ICAN A.A.T. will get if he decides to enrol for ACCA exams
Re: ACCA Or ICAN: Which Is Better? by lulucus: 7:05pm On Sep 19, 2011
get your ACCA STUDY KIT with f1-f9,p1-p7 and the current questions and answers frm 2006 - 2011 @ 10k promo call 07065365535. free delivery nationwide
Re: ACCA Or ICAN: Which Is Better? by Boyloaf(m): 3:09pm On Sep 26, 2011
pls some1 shud xplain how i can be a chattered accountant as a graduate of accountin education. I graduated wit a 2.1 frm AAU. Thanx
Re: ACCA Or ICAN: Which Is Better? by tunnytox(m): 4:19pm On Sep 26, 2011
All you need to do is to complete the application and exemption form provided by ICAN or any other accounting body you wish to join. I believe you'll need to submit your academic transcript which they'll use to determine the level of exemption you can granted. Once you're registered all you need to do is sit for your exams and complete the work exeperience requirements. I hope this helps
Re: ACCA Or ICAN: Which Is Better? by Boyloaf(m): 8:58pm On Sep 26, 2011
tunnytox:

All you need to do is to complete the application and exemption form provided by ICAN or any other accounting body you wish to join. I believe you'll need to submit your academic transcript which they'll use to determine the level of exemption you can granted. Once you're registered all you need to do is sit for your exams and complete the work exeperience requirements. I hope this helps
thanx bro
Re: ACCA Or ICAN: Which Is Better? by olusedo: 9:52am On Nov 07, 2011
DO NOT BE DECEIVED BY ANY MOU BETWEEN ICAN AND ACCA, COULD THE ACCA GLOBAL PRESIDENT HAVE COME ALL THE WAY FROM ENGLAND TO NIGERIA JUST TO DECEIVE NIGERIANS, SEE BELOW

'In apparent bid to further promote the accountancy profession in Nigeria, The Institute of Chartered Accountants of Nigeria, ICAN, and the Association of Chartered Certified Accountants, ACCA, of the United Kingdom have signed a Memorandum of Understanding on mutual cooperation.

The memorandum is a befitting sequel to the landmark agreement reached in February this year. The two bodies had agreed last February when the Global President of ACCA, Mrs. Gillian Ball visited Nigeria.

This led to first ICAN and ACCA bilateral meeting, which took place at the ICAN secretariat on Wednesday, February 6, 2008. The ACCA team, led by Ms Ball and the ICAN team led by Prince Ade Babington-Ashaye, both agreed the terms of reference of the Bilateral Committee as well as resolved to collaborate on a number of areas to develop the Accountancy profession'.
http://www.facebook.com/note.php?note_id=16391283647
A statement issued at the end of the MOU signing stated, “ In recognition of the value of promoting mutual co-operation for the advancement of the accountancy profession and the public interest, both ICAN and ACCA, thus agreed to enter into the MOU, which was made towards the end of May, 2008.

[/b][/b]
Re: ACCA Or ICAN: Which Is Better? by Amtired: 3:07pm On Nov 21, 2011
So sorry for intruding, pls can a school certificate holder register for Ican?
Re: ACCA Or ICAN: Which Is Better? by Mustay(m): 2:12am On Dec 06, 2011
Amtired:

So sorry for intruding, pls can a school certificate holder register for Ican?

Yes you can. You'd have to register for the ATSWA exams first before progressing to the professional stage. And please don't yet be tired like your name implies. wink
Re: ACCA Or ICAN: Which Is Better? by Dt03(m): 3:02am On Dec 14, 2011
I am an Economics graduate interested in Accountancy, may i know the likely exemption given and how to start ACCA in Nigeria?
Re: ACCA Or ICAN: Which Is Better? by ritze(m): 11:56am On Dec 14, 2011
Dt03:

I am an Economics graduate interested in Accountancy, may i know the likely exemption given and how to start ACCA in Nigeria?

You'ld be exempted from 1paper in the foundation level and dts all
Re: ACCA Or ICAN: Which Is Better? by Dt03(m): 12:31pm On Dec 14, 2011
ritze:

You'ld be exempted from 1paper in the foundation level and dts all

Thanks for the information
Re: ACCA Or ICAN: Which Is Better? by Mustay(m): 11:08pm On Dec 14, 2011
Dt03:

I am an Economics graduate interested in Accountancy, may i know the likely exemption given and how to start ACCA in Nigeria?

https://portal.accaglobal.com/accrweb/faces/page/public/accreditations/enquiry/main/EnqInstitutionsTable.jspx Like
Re: ACCA Or ICAN: Which Is Better? by Adebhayor(m): 12:42pm On Dec 21, 2011
Hello All, I am Hnd Holder in Accounting. plz how can i register for ACCA. I will like someone to tell me the procedure to go about it. My mail address is coolbapet555@yahoo.com. Thanks so much.
Re: ACCA Or ICAN: Which Is Better? by Steve0stick: 10:34am On Dec 31, 2011
Pls i'm an accounting studnt in the uni.3rd year n i want to write acca exams.i'm nt 21 already.can't i registr 4 acca exams wit ma o level result?is it compulsory i write CAT before ACCA since i,m nt 21.all informative comments wil b appreciated.thanks
Re: ACCA Or ICAN: Which Is Better? by ritze(m): 11:25am On Jan 03, 2012
Steve0stick:

Pls i'm an accounting studnt in the uni.3rd year n i want to write acca exams.i'm nt 21 already.can't i registr 4 acca exams wit ma o level result?is it compulsory i write CAT before ACCA since i,m nt 21.all informative comments wil b appreciated.thanks

@ steve u need to write CAT if u r not 21 yet and u nt tru wt ur 1st degree
Re: ACCA Or ICAN: Which Is Better? by akomoledee: 12:54am On Apr 02, 2012
Hello,I'm Ope,pls I studied microbiology nd to get a job has not been easy,now I have resolved to get professional by writing ACCA or ICAN,I need to know the requirements for registration,the fees also for each pls,and their office address in Akure and Lagos,thank you folks.
Re: ACCA Or ICAN: Which Is Better? by ritze(m): 4:35am On Apr 02, 2012
akomoledee: Hello,I'm Ope,pls I studied microbiology nd to get a job has not been easy,now I have resolved to get professional by writing ACCA or ICAN,I need to know the requirements for registration,the fees also for each pls,and their office address in Akure and Lagos,thank you folks.
u cld take ur time to go through the thread
or call me on 08054250922

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