CA Program - Ask questions, get answers! (new and improved) (3 Viewers)

[lyounamu]

Ohhh lol...I had the impression that you finished already (From posts above) :/ But you have done all the hard work to get it anyway hahaha.

I guess I will talk to counsellor to organise something out. I hope they dont force me to get CA because I am CF and might be doing due dilligence stuff (i have no idea what that is yet). CFA seems more relevant to me lol

 

[seremify007]

Ohhh lol...I had the impression that you finished already (From posts above) :/ But you have done all the hard work to get it anyway hahaha.

I guess I will talk to counsellor to organise something out. I hope they dont force me to get CA because I am CF and might be doing due dilligence stuff (i have no idea what that is yet). CFA seems more relevant to me lol

I work on DD stuff in my firm and a CA definitely helps because you need to understand not only how financial statements work, but the intricacies of a) how they differ from 'true' cash flows/profits; and b) how they vary between countries (e.g. AIFRS, IFRS, US GAAP, and any other markets which your clients report in).

 

[runnable]

Hey Seremify. I will be working in CF role in Big 4 so I was wondering if CA is important or not...Is it?

I understand that 3 years of work experience is required for CA qualification and I would like to move into MC or IB after few years of CF. I am wondering if CFA is more useful or not...

CFA is more important. Especially if you want out of Accounting and into Finance. Neither CA nor CFA is that useful in MC unless you specialise.

PS. Congrats on CF. Highly desired among Big 4 applicants I reckon.

 

[lyounamu]

CFA is more important. Especially if you want out of Accounting and into Finance. Neither CA nor CFA is that useful in MC unless you specialise.

PS. Congrats on CF. Highly desired among Big 4 applicants I reckon.

Oh right i see. Thank you!!

Thank you to Seremify too =)

 

[seremify007]

CFA is more important. Especially if you want out of Accounting and into Finance. Neither CA nor CFA is that useful in MC unless you specialise.

PS. Congrats on CF. Highly desired among Big 4 applicants I reckon.

I reckon you could probably negotiate to do the CFA first (and do CA later) but that would be a conversation you have to have with your counsellor at the firm. Agreed with runnable it's probably more relevant to the industry and more important later on when you want to move to more on (and presumably not to an accounting role), but at the end of the day you're working in a chartered firm so of course there is an inclination to have as many people skilled in that space. It also helps out a lot when the industry is slowing down and you need to reassign staff to other areas in the short term to remove any idle capacity.

 

[seremify007]

EBA211 results come out next Friday!

 

[lyounamu]

^OMG good luck everyone who did it!!! =)

what does it stand for btw? haha ><

 

[seremify007]

^OMG good luck everyone who did it!!! =)

what does it stand for btw? haha ><

Ethics and Business Application. It's the last exam before you become qualified.

... but then from 2014 onwards, it'll be replaced with some Capstone module instead.

I received an email from the Institute today going into detail of the changes to the program from 2013 which affect the technical modules and how they are taught/delivered.

Important changes to the Chartered Accountants Program from 2013

The Institute is delighted to announce that a new world-class Chartered Accountants Program will be introduced from 2013, which will be delivered jointly with the New Zealand Institute of Chartered Accountants.

As a current candidate, please read the following information about these changes and how you can start planning your pathway for completing the Program.

What will change?
Based on feedback from candidates, employers and members, the new Program will move to a more flexible, modern blend of face-to-face and online learning. Using a new sophisticated Online Learning Space, you will have greater access to your learning resources and experience more interactive activities, so you can access your learning material from anywhere, at any time during the module. The Program’s new format is also designed to help you more effectively balance your work and study commitments.

Greater flexibility will also be embedded into the four technical modules with the current focus session format to be replaced with new optional face-to-face and virtual classrooms. Meanwhile, the emphasis on face-to-face learning will shift into a new Capstone module, which will replace the current Ethics & Business Application (EBA) module. This Capstone will be offered from 2014 and will require you to attend three mandatory workshops to develop your professional skills, utilising real company case studies.

What do you need to do?
To ensure you have ample time to plan your studies, please refer to the Transitional Schedule and 2013-15 Timetable, which will help you identify your pathway for completing the Program and entry to membership. While reviewing the schedule, it may help you to refer to the Comparison Chart, which outlines the key differences between the current and new Programs.

To ensure the transition is a seamless process, the current technical modules will be offered until the end of 2012. In addition, the EBA module will be offered twice in 2013. You will then need to undertake the equivalent new modules as outlined in the Transitional Schedule.

Want more information?
For more details please visit the website or myCA. Alternatively, contact the National Customer Service Centre on 1300 137 322 or email service@charteredaccountants.com.au.

Regards

Peter Kerr
General Manager, Chartered Accountants Program & Admissions
The Institute of Chartered Accountants in Australia

And here's the timetable & changes link for those who are interested:
http://www.charteredaccountants.com...nts-Program-2013/Timetable-and-schedules.aspx
http://www.charteredaccountants.com...ntants-Program-2013/What-are-the-changes.aspx

It is interesting that they have removed compulsory focus sessions (similar to a tutorial in uni) and the assignment, to be replaced with online assessments. If there's no compulsory face to face action, I think the networking (and resource sharing) opportunities will become significantly less which is a pity.

 

[seremify007]

Woo I passed with merit!!

 

[RDX]

Congrats!

 

[Azure]

Congrats mate

 

[seremify007]

cheers guys

 

[immabee]

Hey there congrats!

Am sure your hard work paid that off. Were those exams difficult as what others have mentioned?

 

[seremify007]

Hey there congrats!

Am sure your hard work paid that off. Were those exams difficult as what others have mentioned?

They're not easy but they are very logical in the sense that there are no 'trick questions'. Everything which they examine can clearly be linked back to either a practice question or worked example included in the CLP (essentially the textbook) or readings.

 

[lyounamu]

^Nice one!

Now off to CFA?
MBA? haha

 

[seremify007]

^Nice one!

Now off to CFA?
MBA? haha

Debating what to do actually. Spoke with my Partner about it and whilst an MBA probably is more suitable, until I start managing decent sized teams, I may not get that much out of doing an MBA. I'll see how I feel when I get back from NY.

 

[CharlieB]

Debating what to do actually. Spoke with my Partner about it and whilst an MBA probably is more suitable, until I start managing decent sized teams, I may not get that much out of doing an MBA. I'll see how I feel when I get back from NY.

Congrats mate.

Is NY a secondment?

I'm not quite sure what to make of the changes to the CA program. The scrapping of focus sessions does reduce the benefits of networking (probably a cost-cutting method). But the flexiblity of online learning/assessment is overwhelmingly appealing especially when working full-time.

I worked out what my CA pathway would be and it looks like I'll be doing the new capstone unit in 2014. It looks quite interesting. Seems like they've placed a very strong focus on professional development. Not looking forward to the mandatory 24 hours of face to face learning though. And the lack of past papers/materials could be challenge. With change comes uncertainty.

 

[seremify007]

Congrats mate.

Is NY a secondment?

I'm not quite sure what to make of the changes to the CA program. The scrapping of focus sessions does reduce the benefits of networking (probably a cost-cutting method). But the flexiblity of online learning/assessment is overwhelmingly appealing especially when working full-time.

I worked out what my CA pathway would be and it looks like I'll be doing the new capstone unit in 2014. It looks quite interesting. Seems like they've placed a very strong focus on professional development. Not looking forward to the mandatory 24 hours of face to face learning though. And the lack of past papers/materials could be challenge. With change comes uncertainty.

I think everyone is in a similar boat to you in that they appreciate the flexibility but don't like the loss of networking opportunity. The downside of the optional sessions is that the only people there will be those who feel the need to attend to network (which in a way, could be good since you'll meet people outside of the typical Big4 environment who would otherwise dominate focus sessions and have their own little 'crowds'). I wouldn't say they are cost cutting measures since the focus sessions are probably quite cost effective to run given they have 2 facilitators (typically people who do this do it because they want to be involved in the institute as opposed to people doing it for monetary benefits) and 20-30 people in a session. Only four (or three in EBA) focus sessions per subject. I suspect a lot of companies and employers complained about the inflexibility of the focus sessions and timing whereby you must attend or you can't sit final exam.

NY is a secondment in January next year so I get to experience busy season in the banking practice over there Should be loads of fun but I don't think I'll be on BoS much!

 

[uberusername]

Debating what to do actually. Spoke with my Partner about it and whilst an MBA probably is more suitable, until I start managing decent sized teams, I may not get that much out of doing an MBA. I'll see how I feel when I get back from NY.

Hi Seremify,

Just completed CA myself and waiting on the processing of my membership.

Also looking at MBA's (which I can commence in Canberra). Where are you considering completing yours? (If indeed you decide to go down that track)

Obviously there are pre existing arrangements between ICAA and various unis of which AGSM is strangely not listed. (or not so strangely?)

I have missed the first trimester enrolment which is frustrating, but this course looks good so I think I might avoid enrolling in anything else before I find out whether I can get into AGSM EMBA.

Other courses I was considering are:
ANU MBA (16 subjects)
UC MBA (12 subjects, APS targeted [I'm not APS])
UTS EMBA (travel down on weekends)
ANU MFinMgmt (If unable to get into reputable EMBA)
Kaplan Master of MAppFin (reputation has scared me off)

Any input appreciated

 

[seremify007]

A couple of people I know went to LBS and said it was quite good so I considered that, but at this stage, will probably hold off. Another friend of mine from work is doing Masters of Applied Finance (and some other peeps are doing CFA) but then I am trying to determine what would actually be beneficial for me or most relevant. Ultimately, I need to figure out what I'm trying to achieve.