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5 Reasons Why You Should Write ICAN Instead Of ACCA - Career - Nairaland

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5 Reasons Why You Should Write ICAN Instead Of ACCA by Nobody: 9:32pm On Apr 15, 2017
There have been much discussion on which professional qualifications a person seeking a career path in accounting and finance should have.
While the ACCA is an international body with more recognition, there are certain reasons while one may chose to write ICAN over ACCA.
I hope to shed some light why it may be better to write ICAN instead ACCA.

1. Cost of examination.
The ACCA exams has always been more expensive than the ICAN exams, however with the recent increase in Dollars against naira, the fee is even higher than ever.
Currently the average price per course is £80 oughly N35000 and you may have to write up-to 3 courses per diet if you want to finish on time. ICAN, the maximum you'd ever pay is N70,000 and that is for the maximum number of courses ( 6 courses),other times you'd pay N40,000 to N55000 for all your courses. So if you have a slim budget, it may be in your advantage to write the ICAN exams.

2. Availability of Resources
For the ACCA exams, the resources at your disposal is someworth limited. Firstly, only few tuition houses are accredited to prepare students for the exams. Also, the study material has to be purchased online and paid for in pounds, another additional cost. For ICAN however, the resources needed are readily available online and offline. And there are a lot of books for purchase to make studies easier.

3. Statutory recognition.
In Nigeria presently, only ICAN and ANAN has been given the charter to audit reports. So despite having the ACCA qualification, you still cannot sign and approve financial statements unless you are a member of ICAN, which would mean you coming back to write the ICAN exams. I know there are a lot of exemptions. However, isn't it double cost if you still come back and pay for the same ICAN exams again? The basic advantage of ACCA is the recognition in the private sector. But in term of statutory audit, or even public sector, you still need ICAN to climb higher

4. Easier to pass
It is generally easier to sit for and pass ICAN. It is common to see individuals who seat for the ICAN exams and pass every thing in one sitting. Truth be told, ACCA is setting the standard which ICAN follow. So if your goal is to become a chartered accountant as soon as possible with lesser stress you are better of writing ICAN instead of ACCA.

5. Patriotism
We always complain our county is bad and not progressing, yet we constantly leave our home made things and go for foreign ones. These two bodies are serving the same purpose. Therefore, there's no need leaving the one of our mother land for preference for a foreign body. It pays to be patriotic and promote the affairs of our own country.

Conclusion
With the harmonization of accounting standard and Nigeria adopting IFRS, there is no difference between the two bodies. Basically they have Very similar course outline cutting through virtually the same area. The gap between the two bodies have greatly been closed. Also, ICAN is an international qualification and recognized in a lot of other countries.

Good luck in your career

15 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Nobody: 9:32pm On Apr 15, 2017
Cc,
Lalasticlala
Jarushub
Seun

1 Like

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Ekeke1(m): 7:14am On Apr 16, 2017
Noted
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by nybol(m): 7:14am On Apr 16, 2017
But ICAN is not recognized outside Nigeria

6 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by fuckfuckman(m): 7:15am On Apr 16, 2017
pls am looking for a fuckmate and girlfriend.

5 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by nmreports: 7:15am On Apr 16, 2017
Of course. ICAN is to Nigeria while ACCA is international

1 Like

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Qmerit(m): 7:15am On Apr 16, 2017
True talk... Happy Easter To All Christians In The World...

2 Likes 1 Share

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Mysticluv(f): 7:16am On Apr 16, 2017
True talk but ICAN is very hard 2 pass,it isnt meant 4 moi-moi students..it takes hard work,persistence,dedication n God's grace 2 pass at one or two sittings..
Happy Easter all!

8 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by igwegeorgiano(m): 7:18am On Apr 16, 2017
optimusmind:
There have been much discussion on which professional qualifications a person seeking a career path in accounting and finance should have.
While the ACCA is an international body with more recognition, there are certain reasons while one may chose to write ICAN over ACCA.
I hope to shed some light why it may be better to write ICAN instead ACCA.

1. Cost of examination.
The ACCA exams has always been more expensive than the ICAN exams, however with the recent increase in Dollars against naira, the fee is even higher than ever.
Currently the average price per course is £80 oughly N35000 and you may have to write up-to 3 courses per diet if you want to finish on time. ICAN, the maximum you'd ever pay is N70,000 and that is for the maximum number of courses ( 6 courses),other times you'd pay N40,000 to N55000 for all your courses. So if you have a slim budget, it may be in your advantage to write the ICAN exams.

2. Availability of Resources
For the ACCA exams, the resources at your disposal is someworth limited. Firstly, only few tuition houses are accredited to prepare students for the exams. Also, the study material has to be purchased online and paid for in pounds, another additional cost. For ICAN however, the resources needed are readily available online and offline. And there are a lot of books for purchase to make studies easier.

3. Statutory recognition.
In Nigeria presently, only ICAN and ANAN has been given the charter to audit reports. So despite having the ACCA qualification, you still cannot sign and approve financial statements unless you are a member of ICAN, which would mean you coming back to write the ICAN exams. I know there are a lot of exemptions. However, isn't it double cost if you still come back and pay for the same ICAN exams again? The basic advantage of ACCA is the recognition in the private sector. But in term of statutory audit, or even public sector, you still need ICAN to climb higher

4. Easier to pass
It is generally easier to sit for and pass ICAN. It is common to see individuals who seat for the ICAN exams and pass every thing in one sitting. Truth be told, ACCA is setting the standard which ICAN follow. So if your goal is to become a chartered accountant as soon as possible with lesser stress you are better of writing ICAN instead of ACCA.

5. Patriotism
We always complain our county is bad and not progressing, yet we constantly leave our home made things and go for foreign ones. These two bodies are serving the same purpose. Therefore, there's no need leaving the one of our mother land for preference for a foreign body. It pays to be patriotic and promote the affairs of our own country.

Conclusion
With the harmonization of accounting standard and Nigeria adopting IFRS, there is no difference between the two bodies. Basically they have Very similar course outline cutting through virtually the same area. The gap between the two bodies have greatly been closed. Also, ICAN is an international qualification and recognized in a lot of other countries.

Good luck in your career
nice insight op.
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by ednut1(m): 7:20am On Apr 16, 2017
linus. i wrote ican but wished i wrote ACCA. acca is easier to pass abeg. as for resources ACCA beats ican hands down. some ican books and pathfinders dey will even put disclaimer that the solutions to questions der are d opinion of the author. in 2011 when i wrote PE1.i was unable to get the complete study packs as i was in ilorin den. abeg mk ican go sleep

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Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by PataAlhaja(m): 7:21am On Apr 16, 2017
Mysticluv:
FTC.. Happy Easter all!

SMH
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by sakalisis(m): 7:22am On Apr 16, 2017
Cool
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by PataAlhaja(m): 7:22am On Apr 16, 2017
If you have dreams of leaving the shores of this country in the nearest future, for better career opportunities, then go for ACCA.

The ICAN qualification, outside the shores of Nigeria, is as worthless as Ishilove's used menstrual pad.

15 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Nutase: 7:27am On Apr 16, 2017
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Nobody: 7:30am On Apr 16, 2017
You write about what you know nothing about. Your points are misleading.

1. ACCA is effing easy to pass, compared to ICAN.

2. ACCA's study materials are FOC. Including videos that cover every topic of the syllabus for all stages. As a matter of fact, ACCA has a variety of superb study materials to choose and read from, plus students/lecturer interactive forum. Pls, what are you saying?

3. ACCA study materials are easily comprehensible. ICAN, on the other hand, uses big grammar, unnecessary, bogus vocabulary that bores you right to sleep. ACCA makes study interesting. ICAN goes round and round in attempting to prove logic. Na wa o. If you're lucky to make it to the next paragraph, you're a very strong person.

optimusmind:
There have been much discussion on which professional qualifications a person seeking a career path in accounting and finance should have.
While the ACCA is an international body with more recognition, there are certain reasons while one may chose to write ICAN over ACCA.
Good luck in your career

18 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Innodon(m): 7:30am On Apr 16, 2017
Nice
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Nobody: 7:30am On Apr 16, 2017
ICAN will limit you. Yes ACCA is expensive and a bit hard but it's recognised internationally. don't limit yourself

3 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Ejaisky: 7:31am On Apr 16, 2017
PataAlhaja:
If you have dreams of leaving the shores of this country in the nearest future, for better career opportunities, then go for ACCA.

The ICAN qualification, outside the shores of Nigeria, is as worthless as Ishilove's used menstrual pad.
What about ANAN?

1 Like 1 Share

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by dreamworld: 7:41am On Apr 16, 2017
Do u mean NCAN (name checkers association of Nigeria)
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by PataAlhaja(m): 7:42am On Apr 16, 2017
Ejaisky:

What about ANAN?

With respect to the analogy of Ishilove's menstrual pad, ANAN is as inconsequential as a used condom.

Except you wanna end up as a council cash officer in one of the local government area offices in Northern Nigeria, desist from ANAN.

ANAN is preferred by lazy Northerners who can't bear the rigours of ICAN. It's almost non-existent in southern Nigeria.

Some believe it's preferable for those with interest in public sector accounting but trust me, that's a silly, lazy excuse. ICAN offers public sector accounting too.

13 Likes 2 Shares

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by nerilove(m): 7:43am On Apr 16, 2017
ACCA is expensive but recognised worldwide
ICAN is for Nigeria only
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Nobody: 7:45am On Apr 16, 2017
Apart from the cost I don't see any reason to write ICAN. It was because When you're chattered and wants to pay the exemption equivalent fee that Acca insist you write some courses. This prompted ICAN to start allowing students to write exams even if they had Acca. Acca still remains the best professional exam anytime any day. ICAN is restricted to just west Africa while Acca is globally recognised. Yes the statutory legislation to audit still falls under ICAN and ANAN but would anyone restrict his practice to Nigeria should any opportunity comes?. Thanks to Acca, ICAN is now sitting up

3 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by mathy2p2: 7:49am On Apr 16, 2017
Thanks so much for this paucity of information ,I pass my foundation last year preparing for next level

1 Share

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Nobody: 7:51am On Apr 16, 2017
Ejaisky:

What about ANAN?
The worst
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Mustay(m): 7:53am On Apr 16, 2017
If you want to comply with regulations in Nigerja, ICAN and ANAN will do. But if you want to act locally but live globally, ACCA is the better option. It's not about being sentimental but put your career first. You want to have global options. I'd rather you get both for obvious reasons.

1 Like

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Nobody: 7:57am On Apr 16, 2017
PataAlhaja:


With respect to the analogy of Ishilove's menstrual pad, ANAN is as inconsequential as a used condom.

Except you wanna end up as a council cash officer in one of the local government area offices in Northern Nigeria, desist from ANAN.

ANAN is preferred by lazy Northerners who can't bear the rigours of ICAN. It's almost non-existent in southern Nigeria.

Some believe it's preferable for those with interest in public sector accounting but trust me, that's a silly, lazy excuse. ICAN offers public sector accounting too.

Your assertion about ANAN is false. ANAN well recognised in the southern part of Nigeria too. It's just that most private organisation prefer ICAN to ANAN. ANAN has an academy like their counterparts in UK ICAEW and allows accounting graduates to study. Their school is similar to law school

1 Like

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Mustay(m): 7:58am On Apr 16, 2017
I initially did not want to respond to this thread but just so you do not misinform people, I have decided to login on a PC to clarify:


optimusmind:


1. Cost of examination.
The ACCA exams has always been more expensive than the ICAN exams, however with the recent increase in Dollars against naira, the fee is even higher than ever.
Currently the average price per course is £80 oughly N35000 and you may have to write up-to 3 courses per diet if you want to finish on time. ICAN, the maximum you'd ever pay is N70,000 and that is for the maximum number of courses ( 6 courses),other times you'd pay N40,000 to N55000 for all your courses. So if you have a slim budget, it may be in your advantage to write the ICAN exams.

True, with the FX instability, ICAN is the cheaper option. Even ACCA recognises this as they have a special rate for the Nigerian students. Students from other countries (particularly African and Asian) too also complain about FX and its effect on writing the examinations.




2. Availability of Resources
For the ACCA exams, the resources at your disposal is someworth limited. Firstly, only few tuition houses are accredited to prepare students for the exams. Also, the study material has to be purchased online and paid for in pounds, another additional cost. For ICAN however, the resources needed are readily available online and offline. And there are a lot of books for purchase to make studies easier.

This is totally false. First, you digress when you move from availability of resources to availability of tuition houses. Compared to about ten (10) years ago, the tuition houses you have for ACCA have improved. With the exams getting more popular and Nigerians dissing ICAN for ACCA, ICAN had to change their policy on exemptions etc. There are sites when you can get resources for ACCA online free ( and I am not referring to hacking or pirated materials). True that the fact that it is in pounds affects the cost of buying original study materials but there are definitely MUCH MORE resources online (videos, discussion forums, tutor support, revision notes and audio lectures) than ICAN. A google search will easily discard this point as irrelevant. More so, I know some ICAN students who could not afford materials and had to photocopy - everyone's situation is different. The most important thing is to maximise the resources you have - eg borrow materials from those who wrote a previous diet and the likes.





3. Statutory recognition.
In Nigeria presently, only ICAN and ANAN has been given the charter to audit reports. So despite having the ACCA qualification, you still cannot sign and approve financial statements unless you are a member of ICAN, which would mean you coming back to write the ICAN exams. I know there are a lot of exemptions. However, isn't it double cost if you still come back and pay for the same ICAN exams again? The basic advantage of ACCA is the recognition in the private sector. But in term of statutory audit, or even public sector, you still need ICAN to climb higher


You are right here; I stated this previously but like I also mentioned, if you think of migrating abroad, don't make this mistake. If ICAN learns from the likes of the Pakistani body, you would see much recognition internationally. I will just ask you to do a simple search online on international job boards or recruitment agencies and you'd easily see ACCA there. Though North America usually has its own specifics, this is where conversion and exemption makes sense. When you know what CPA students for example go through, you will appreciate the cost of exemptions. I guess you are yet to really ask yourself why "the basic advantage of ACCA is the recognition in the private sector" exists.

When you refer to 'climbing higher' in the public sector, ANAN is the easy way out. That's why you find public officials choosing the route and still achieving career growth in the public sector.

As far as I am concerned, what you do with your certificate is the most important. Most times, people who have all these certifications earn it for a particular purpose, after two - three years without relevant practise or continuous professional development, you are as good as a novice.




4. Easier to pass
It is generally easier to sit for and pass ICAN. It is common to see individuals who seat for the ICAN exams and pass every thing in one sitting. Truth be told, ACCA is setting the standard which ICAN follow. So if your goal is to become a chartered accountant as soon as possible with lesser stress you are better of writing ICAN instead of ACCA.

This is one fallacy accountancy students fall for. In reality, no one cares how hard your exam although there is a notion that the harder the exam, the more respected it is but what is the purpose of an exam? Knowledge is not meant to be for a select few even though we need regulations for members. I see students from India, Pakistan etc too argue about this too - they even venture into CFA being less harder than the equivalent they have. Guy, everyone has his or her own story - something about professional examinations students fail to realise is this, EXECUTION takes precedence over PREPARATION. Sounds funny right Most times, students read and even cram the study material but their delivery during the examination often fails them. So you can have an average student passing at one sitting and an exceptionally brilliant student stumbling.

I also do not support this ASAP ideology of yours. At the end, you will get the designation but like I wrote earlier, it is what you do with any certification or knowledge that matters the most. We are certificate crazy in this country because it seems to boost our profile whereas globally, people seek competency. A situation where ICAN examiners will set examination questions from topics not in a syllabus or where they do not do thorough review of questions (e.g MCQ questions) leaves a lot to be desired.





5. Patriotism
We always complain our county is bad and not progressing, yet we constantly leave our home made things and go for foreign ones. These two bodies are serving the same purpose. Therefore, there's no need leaving the one of our mother land for preference for a foreign body. It pays to be patriotic and promote the affairs of our own country.

Nothing to say here. I believe in options anyway and once again, it is not about sentiments. The Pakistani and Indian accountancy bodies are very strong, we can learn from them too. I'd support the Nigerians bodies over any foreign body if we ensure quality and standards.



Conclusion
With the harmonization of accounting standard and Nigeria adopting IFRS, there is no difference between the two bodies. Basically they have Very similar course outline cutting through virtually the same area. The gap between the two bodies have greatly been closed. Also, ICAN is an international qualification and recognized in a lot of other countries.
Can we have a list of these countries and the idea of how easy it is to convert a foreign CA to the countries? Let's start with W.Africa first.

The edge ACCA has here even in territories where they are less popular is PARTNERSHIP, Without that, the members are as good as 'abandoned'.

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Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by helpfulposts(m): 8:00am On Apr 16, 2017
Op, thank you so much for this post.
Happy Easter!
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Ugosample(m): 8:01am On Apr 16, 2017
asuustrike2009:
Apart from the cost I don't see any reason to write ICAN. It was because When you're chattered and wants to pay the exemption equivalent fee that Acca insist you write some courses. This prompted ICAN to start allowing students to write exams even if they had Acca. Acca still remains the best professional exam anytime any day. ICAN is restricted to just west Africa while Acca is globally recognised. Yes the statutory legislation to audit still falls under ICAN and ANAN but would anyone restrict his practice to Nigeria should any opportunity comes?. Thanks to Acca, ICAN is now sitting up

Exactly
The writer even spoke of patriotism; D grin

I just dey laugh.
Patriotism no dey this one o
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by ednut1(m): 8:03am On Apr 16, 2017
asuustrike2009:

Your assertion about ANAN is false. ANAN well recognised in the southern part of Nigeria too. It's just that most private organisation prefer ICAN to ANAN. ANAN has an academy like their counterparts in UK ICAEW and allows accounting graduates to study. Their school is similar to law school
abegi. anan is a worthless exam.
Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by Ugosample(m): 8:04am On Apr 16, 2017
Mustay:
If you want to comply with regulations in Nigerja, ICAN and ANAN will do. But if you want to act locally but live globally, ACCA is the better option. It's not about being sentimental but put your career first. You want to have global options. I'd rather you get both for obvious reasons.

Exactly
No sentiments guys...
If you have the money, go for ACCA biko

2 Likes

Re: 5 Reasons Why You Should Write ICAN Instead Of ACCA by ontruth(m): 8:08am On Apr 16, 2017
fuckfuckman:
pls am looking for a fuckmate and girlfriend.

Then you need to write Fuckcan or Fucca exam not Acca or Ican.

2 Likes

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