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What Does Future Hold For Chartered Accountants? - Career (4) - Nairaland

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Re: What Does Future Hold For Chartered Accountants? by Rimimafia: 3:12pm On Sep 18, 2017
The challenge we have on this side of the world is that we always want to work. See yourself as a solution provider. You can use what you learnt in school as an accountant to develop solutions. in my own little opinion, the opportunities for an accountant are limitless.

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Re: What Does Future Hold For Chartered Accountants? by sweetilicious(f): 3:13pm On Sep 18, 2017
Sezua:
Do softwares run themselves? Accounting has moved beyond merely recording transactions.
EXACTLY.
Re: What Does Future Hold For Chartered Accountants? by echike: 4:14pm On Sep 18, 2017
Kratos3364:
these are are facts! All you've stated are facts.

I really like the way you ended it. Relatively speaking, ANAN holders are bunch of lazy people, in climes where high standards are expected there would be no such thing as ANAN, it infuriates me to know that majority, if not all of them are found in the public sector, the fact that the accountant general of the federation holds a ANAN qualification kills me. Truly, the standards are falling.

Sir, I'm a 23 year old graduate currently undergoing ICAN, I'm in my finals now, I can substantiate this claim if you want me to. Sir I don't have work experience and I'm looking to get one. I'll like to use this opportunity to ask if there's a vacancy in the firm you work for or if there's a way you can recommend me... cry cry

@kratos3364 be patience and definitely you will get there. kindly drop your email address to my box or on the portal i will contact you. the truth of the matter is that once you develop your skill and qualify as a chartered accountant the market will locate you. kindly drop your email i will contact you for possible audit and work experience. good luck.
Re: What Does Future Hold For Chartered Accountants? by gotousa2013: 6:12pm On Sep 18, 2017
Wetin be chartered accountants where we have smart scientists and engineers to take over your few accounting jobs
Re: What Does Future Hold For Chartered Accountants? by Abdul4trust1(m): 7:58pm On Sep 18, 2017
gotousa2013:
Wetin be chartered accountants where we have smart scientists and engineers to take over your few accounting jobs
wake-up

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Re: What Does Future Hold For Chartered Accountants? by OKANGPRECIOUS(m): 8:11pm On Sep 18, 2017
I cannot be duscouraged. Accountant in the making

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Re: What Does Future Hold For Chartered Accountants? by Kratos3364(m): 8:17pm On Sep 18, 2017
echike:


@kratos3364 be patience and definitely you will get there. kindly drop your email address to my box or on the portal i will contact you. the truth of the matter is that once you develop your skill and qualify as a chartered accountant the market will locate you. kindly drop your email i will contact you for possible audit and work experience. good luck.
here's my email address:- ajayifemi3364@yahoo.com. Thanks and have a blessed week ahead
Re: What Does Future Hold For Chartered Accountants? by Kratos3364(m): 8:23pm On Sep 18, 2017
scobaba:


It is normal for every graduate who hears oil and gas to want to jump into it. Relax. you will need to build your Accounting experience first. you don't do that in oil and gas. I don't know of any Multi National firm that employs fresh graduates in Accounting department. Most guys in my department for instance did 3-5 years In an Accounting firm before they got here.

My Advice...seek employment in firms like PWC, KPMG, Ernst & Young, Deloitte or some other top local firms like Adetonai Isichei and SIO. Build your experience there, give urself 4-5 years of experience building and you will see how lucrative the Accounting profession is out there. You will see job offers you may be confused which to choose. you tho have to support yourself with basic ICT skills. The problem we have today is that some Accountants have so engrossed themselves in book keeping that they don't fit into the big firms with sophisticated IT systems.
All the best.
you've spoken well. wink cheesy what you said about the oil and gas industry is true. I'll work on your suggestion as regards working for an accounting firm. Thanks for your input egbon. Bless you. cool
Re: What Does Future Hold For Chartered Accountants? by homesteady(m): 8:42pm On Sep 18, 2017
xpizzy:

In Nigeria the 15-64 age group form over 54% of Nigeria's population distribution. Get your facts right

Screenshot from index mundi!

The breakdown of the population was not really the point I was trying to make. Using the general population to calculate your ratio is not just right as not everyone must have an accountant. Such ratios suits only medical professions.
Instead of using the general population, use the number of business firms to calculate your ratio.

Re: What Does Future Hold For Chartered Accountants? by gentleiphy: 9:24pm On Sep 18, 2017
scobaba:


It is normal for every graduate who hears oil and gas to want to jump into it. Relax. you will need to build your Accounting experience first. you don't do that in oil and gas. I don't know of any Multi National firm that employs fresh graduates in Accounting department. Most guys in my department for instance did 3-5 years In an Accounting firm before they got here.

My Advice...seek employment in firms like PWC, KPMG, Ernst & Young, Deloitte or some other top local firms like Adetonai Isichei and SIO. Build your experience there, give urself 4-5 years of experience building and you will see how lucrative the Accounting profession is out there. You will see job offers you may be confused which to choose. you tho have to support yourself with basic ICT skills. The problem we have today is that some Accountants have so engrossed themselves in book keeping that they don't fit into the big firms with sophisticated IT systems.
All the best.

one part of your comment caught my attention [b]"I don't know of any Multi National firm that employs fresh graduates in Accounting department"...you know why? because Nigerian school systems is from class to another class pseudo work...in western world every course run in schools are more hands on preparing you from Class to your desk work...the big 4 you mention in western world recruits from school direct..fresh graduates...we have them here all over...here schools show you statistics of employment rate direct from graduation and that informs your decision to enroll in that school...we dont have the tools to prepare students on hands on and ready to work from school and that is the essence of going to school to learn to use it to work cos you are taught that...how many schools offering accounting has lab or workshop filled with computers with all accounting softwares used to practically teach students?none...so how do you expect a fresh graduate accountant to hop in with confidence to start the job...here in Accounting depts from year one you are introduced to simply accounting,quick book,SAP,ERP,sage(all lines)Peach tree outdated but would still be taught...students are given live financial transactions to work on as a team and present their financial report,students are giving books of coys to audit...they are sent in teams to part of external coys auditing job as part of group assignments...the reason here to be chartered accountant with the designation is nothing people sought after cos it rarely gets you upper there ..students do this jobs without being chartered cos they already know it from school...

if you are an Accountant and earn 200k in Nigeria..better change career..we have people who work in less tedious jobs and profession and earn 1m without being accountants...the era of raising shoulder with the ICAN designation is gone...we have lots of people who read and passed iCAN that cant even balance a book or even provide a trial balance...

however,i advise if you are an accountant in Nigeria ,please start gradual transition to IT accounting..think of the future,right now in the western world here Accounting is not even seen as what a lot wants to study...people delve into business intelligence,data sciences,info system security...try and get your CISA,CISM and back it up with Business analysis and you will thank me later..start drifitng to where the world is heading to..dont be stagnant.

By the way before i am asked what do i know,i am an Accountant( Accounting academic background),ACCA, with over 14yrs in financial investment,internal control,corporate finance and taxation all in the Maritime Sector.But now no more reside in Nigeria.
[/b]

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Re: What Does Future Hold For Chartered Accountants? by franchuks(m): 12:08am On Sep 19, 2017
I think the future is still bright.... More and more companies would continue to require our services.
Re: What Does Future Hold For Chartered Accountants? by Pierr(f): 1:07am On Sep 19, 2017
gentleiphy:


one part of your comment caught my attention "I don't know of any Multi National firm that employs fresh graduates in Accounting department"...you know why? because Nigerian school systems is from class to another class pseudo work...in western world every course run in schools are more hands on preparing you from Class to your desk work...the big 4 you mention in western world recruits from school direct..fresh graduates...Sector.But now no more reside in Nigeria.

Thanks for this
Re: What Does Future Hold For Chartered Accountants? by centK(m): 7:50am On Sep 19, 2017
gotousa2013:
Wetin be chartered accountants where we have smart scientists and engineers to take over your few accounting jobs
You are definitely not far from the truth sir. All the big four welcome applications from every field and basically more non accounting students get the available slots. Later they write ican and get cahrtered and thats it. The prospects of studying accounting per say is regularly diminishing. I mean whats the need when i can read crop science and become a chartered accountant, den comfortably take over a job meant for management students.
Re: What Does Future Hold For Chartered Accountants? by xpizzy(m): 8:46am On Sep 19, 2017
You have a point based on today, but let me just give you an example. In the future Nigeria will get better in tax compliance and a lot of individuals as well as Businesses 'may' need CAs to file returns e.t.c so all the people that are 15 today would be in the work force tomorrow or will have an MSME.

I know of a colleague in the Americas who makes 80% of his revenue in the one or two months preceding April 15 (Annual 1040 filing of tax). He is a CPA and the USA has 650k CPAs that's 13 times what we have in Nigeria (dead and living).

So how do you think population does not matter or that the future of this profession is bleak?

homesteady:


Screenshot from index mundi!

The breakdown of the population was not really the point I was trying to make. Using the general population to calculate your ratio is not just right as not everyone must have an accountant. Such ratios suits only medical professions.
Instead of using the general population, use the number of business firms to calculate your ratio.
Re: What Does Future Hold For Chartered Accountants? by scobaba: 9:29am On Sep 19, 2017
gentleiphy:


one part of your comment caught my attention [b]"I don't know of any Multi National firm that employs fresh graduates in Accounting department"...you know why? because Nigerian school systems is from class to another class pseudo work...in western world every course run in schools are more hands on preparing you from Class to your desk work...the big 4 you mention in western world recruits from school direct..fresh graduates...we have them here all over...here schools show you statistics of employment rate direct from graduation and that informs your decision to enroll in that school...we dont have the tools to prepare students on hands on and ready to work from school and that is the essence of going to school to learn to use it to work cos you are taught that...how many schools offering accounting has lab or workshop filled with computers with all accounting softwares used to practically teach students?none...so how do you expect a fresh graduate accountant to hop in with confidence to start the job...here in Accounting depts from year one you are introduced to simply accounting,quick book,SAP,ERP,sage(all lines)Peach tree outdated but would still be taught...students are given live financial transactions to work on as a team and present their financial report,students are giving books of coys to audit...they are sent in teams to part of external coys auditing job as part of group assignments...the reason here to be chartered accountant with the designation is nothing people sought after cos it rarely gets you upper there ..students do this jobs without being chartered cos they already know it from school...

if you are an Accountant and earn 200k in Nigeria..better change career..we have people who work in less tedious jobs and profession and earn 1m without being accountants...the era of raising shoulder with the ICAN designation is gone...we have lots of people who read and passed iCAN that cant even balance a book or even provide a trial balance...

however,i advise if you are an accountant in Nigeria ,please start gradual transition to IT accounting..think of the future,right now in the western world here Accounting is not even seen as what a lot wants to study...people delve into business intelligence,data sciences,info system security...try and get your CISA,CISM and back it up with Business analysis and you will thank me later..start drifitng to where the world is heading to..dont be stagnant.

By the way before i am asked what do i know,i am an Accountant( Accounting academic background),ACCA, with over 14yrs in financial investment,internal control,corporate finance and taxation all in the Maritime Sector.But now no more reside in Nigeria.
[/b]

well said bro...well said.
Re: What Does Future Hold For Chartered Accountants? by Abdul4trust1(m): 7:10am On Nov 26, 2017
gotousa2013:
Wetin be chartered accountants where we have smart scientists and engineers to take over your few accounting jobs
how Is That Possible When You Have Not Undergone Rigorous Trainning In Accounting?
Re: What Does Future Hold For Chartered Accountants? by somehow: 12:58pm On Dec 08, 2017
A fresh graduate of accounting needs a job o within Lagos. Shes chartered.

With 2.1 bsc degree.
Re: What Does Future Hold For Chartered Accountants? by DexterousOne(m): 5:58pm On Feb 09
scobaba:
Op go ahead and read the course you love. Accounting is a very lucrative course. Then going further to have a professional qualification like ICAN & ACCA are super super super advantages.

Those people saying Accounting has been automated and now an all comers affair have small minds...their thought process is so limited.

Let me use ICAN for instance. the current membership of inducted Chartered Accountants is less than 40,000. ACCA holders in Nigeria are even less than ICAN. Opportunities for Accountants are everywhere. its just for people to open their eyes and observe. Information is key in getting the lucrative jobs.

The Chartered Accountant who earns 30k today but builds his experience can hit it big tomorrow in a bigger firm. You can go from 30k to =N=2M Monthly hence you build your experience. I am a Chartered Accountant. I earned less than 150k for a long time, but when I got the big job in oil and gas, everything changed. it can be you too OP.

This is true
Re: What Does Future Hold For Chartered Accountants? by DexterousOne(m): 6:00pm On Feb 09
xpizzy:
You have a point based on today, but let me just give you an example. In the future Nigeria will get better in tax compliance and a lot of individuals as well as Businesses 'may' need CAs to file returns e.t.c so all the people that are 15 today would be in the work force tomorrow or will have an MSME.

I know of a colleague in the Americas who makes 80% of his revenue in the one or two months preceding April 15 (Annual 1040 filing of tax). He is a CPA and the USA has 650k CPAs that's 13 times what we have in Nigeria (dead and living).

So how do you think population does not matter or that the future of this profession is bleak?


Exactly so

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