Accountancy Thread

[midaz]

This thread is for all the finance professionals and qualified Accountants on board. Lets share your qualifications, experience, views and opinions.

I am a licensed CPA from US, Chartered Accountant from Pakistan and CIA certified. Currently based in the Middle East.

 

[nish_mate]

This thread is for all the finance professionals and qualified Accountants on board. Lets share your qualifications, experience, views and opinions.

I am a licensed CPA from US, Chartered Accountant from Pakistan and CIA certified. Currently based in the Middle East.

Dang thats a lot of accounting quals....

CIMA in UK here, chose accounting/finance becuase wasnt good enough to do anything else lol

 

[Little Master]

I am a Chartered Accountant from Pakistan and also currently based in middle east.

 

[kamz]

qualified ACA

Experience is in M&A and Corporate Development.

Based in UAE

 

[nish_mate]

qualified ACA

Experience is in M&A and Corporate Development.

Based in UAE

Get me a job mate lol- ACMA studying towards AMCT

 

[kamz]

Get me a job mate lol- ACMA studying towards AMCT

get some deals experience and then you would be able to get a job

 

[Ismailtoca]

Have one year left in my bachelors, majoring in Accounting

 

[Alchemy]

I am doing Bachelors in Accounting and finance if that counts.

 

[BudMarsh]

Finishing my 3 year articles at one of the Big 4 in Pakistan. Really not fond of audit at all. Advisory seems better but there isn't much TAS/Financial modelling work here in Pakistan. Its mostly internal audit stuff.

I'm looking to apply to a Masters in Finance program abroad, UK, Canada or Australia. I have a bachelors degree in Finance and a GMAT of 700+ so looking to apply to a top-tier Uni. Not entirely sure what happens after the masters though... I've heard its hard to stay on after your masters so for a Pakistani its either Middle East or back home.

kamz, Little Master any advice on what I should do next? [MENTION=6728]kamz[/MENTION] [MENTION=3292]Little Master[/MENTION]

 

[CricketCartoons]

qualified ACA

Experience is in M&A and Corporate Development.

Based in UAE

How much does the average CA of your qualification earn? I am asking this for a personal reason. My ex got married to a CA, and I want to earn more than him, and I don't think he would be earning as much as you do.

 

[kamz]

Finishing my 3 year articles at one of the Big 4 in Pakistan. Really not fond of audit at all. Advisory seems better but there isn't much TAS/Financial modelling work here in Pakistan. Its mostly internal audit stuff.

I'm looking to apply to a Masters in Finance program abroad, UK, Canada or Australia. I have a bachelors degree in Finance and a GMAT of 700+ so looking to apply to a top-tier Uni. Not entirely sure what happens after the masters though... I've heard its hard to stay on after your masters so for a Pakistani its either Middle East or back home.

kamz, Little Master any advice on what I should do next? [MENTION=6728]kamz[/MENTION] [MENTION=3292]Little Master[/MENTION]

EY is hiring a lot of TAS and advisory people at exec/newly qualified level. I would sincerely advice not to do your masters now. probably think about it once you reach Manager/AD level.

 

[kamz]

How much does the average CA of your qualification earn? I am asking this for a personal reason. My ex got married to a CA, and I want to earn more than him, and I don't think he would be earning as much as you do.

dont know about newly qualified ACAs - back home its anywhere between £30k to £40k. I am assuming in UAE it might be the same.

The experienced chaps can earn anywhere between AED 20k to AED 100k a month. Depending on experience and the company itself.

 

[BudMarsh]

EY is hiring a lot of TAS and advisory people at exec/newly qualified level. I would sincerely advice not to do your masters now. probably think about it once you reach Manager/AD level.

Well masters is a degree guys usually get during ages 22-25. I actually thought I was slightly too late being 25 years old. An mba is probably a degree that Im too young/inexperienced for...maybe thats what youre thinking of.

I need a masters to get a chance to enter into finance/banking. Thats my reasoning. With my current skillset and experience its almost impossible to enter even in Pakistan.

 

[Little Master]

Finishing my 3 year articles at one of the Big 4 in Pakistan. Really not fond of audit at all. Advisory seems better but there isn't much TAS/Financial modelling work here in Pakistan. Its mostly internal audit stuff.

I'm looking to apply to a Masters in Finance program abroad, UK, Canada or Australia. I have a bachelors degree in Finance and a GMAT of 700+ so looking to apply to a top-tier Uni. Not entirely sure what happens after the masters though... I've heard its hard to stay on after your masters so for a Pakistani its either Middle East or back home.

kamz, Little Master any advice on what I should do next? [MENTION=6728]kamz[/MENTION] [MENTION=3292]Little Master[/MENTION]

As Kamz said no point in going for MBA / masters right now. It is quite easy to get out into middle east within big 4 (that's what I did) and then later on make a move else where or within other departments (deals, transaction advisory etc).

How much does the average CA of your qualification earn? I am asking this for a personal reason. My ex got married to a CA, and I want to earn more than him, and I don't think he would be earning as much as you do.

Are you talking about Pakistan / ME? In ME you cannot really say I have seen qualified accountants from Pakistan earning 15k per month and I have also seen guys earning over 50 / 60k.

 

[kamz]

Well masters is a degree guys usually get during ages 22-25. I actually thought I was slightly too late being 25 years old. An mba is probably a degree that Im too young/inexperienced for...maybe thats what youre thinking of.

I need a masters to get a chance to enter into finance/banking. Thats my reasoning. With my current skillset and experience its almost impossible to enter even in Pakistan.

I would advise not to do a masters degree even. Try it out in smaller PE firms or small M&A boutiques. They will happily hire a chap who gets a 700+ GMAT.

If u still want to do a masters, then only do it from a top uni (oxbridge or Ivy League) Investment banks do have an MSc route, but rarely i have seen associates coming through.

 

[BudMarsh]

I would advise not to do a masters degree even. Try it out in smaller PE firms or small M&A boutiques. They will happily hire a chap who gets a 700+ GMAT.

If u still want to do a masters, then only do it from a top uni (oxbridge or Ivy League) Investment banks do have an MSc route, but rarely i have seen associates coming through.

Well im not aiming for IB exclusively. There s lots of fields I can see myself in like consulting or any back office role in a bank really. Currently I just dont have a route into banking at all. I'm definitely trying to but getting nowhere.

I agree that an Msc isnt adding too much value for me unless its top tier. I had thought of applying to LSE, Imperial, Warwick, Cass, Cambridge or Mcgill and only going to one of these. Surely Id have quite a few options open to me if I get into this calibre of University?

 

[kamz]

Well im not aiming for IB exclusively. There s lots of fields I can see myself in like consulting or any back office role in a bank really. Currently I just dont have a route into banking at all. I'm definitely trying to but getting nowhere.

I agree that an Msc isnt adding too much value for me unless its top tier. I had thought of applying to LSE, Imperial, Warwick, Cass, Cambridge or Mcgill and only going to one of these. Surely Id have quite a few options open to me if I get into this calibre of University?

slightly yes,

but since myself being a product of the Big 4, my strong suggestion is get an FS client on your deal sheet. When you are in the Big 4, trust me you can move around much easily than compared to someone from the outside trying to get in.

Get a secondment, speak to your counsellor, say you would like a secondment and do some work on FS clients + think of big 4 in ME, UK, US, Bermuda, Channel Islands etc.

These would get you into banking and capital markets much quicker than a Masters

However, if you still not convinced speak to some of the seniors in your firm, take their advice. Probably someone at a manager/senior manager level.

Off the list of universities you mentioned, i would only recommend CASS and Cambridge, rest you can pass

 

[Anfield]

I'm a CPA. Accounting is not a good profession to be in USA anymore. If you're a freshman in college you still have the time to choose a new major. I'll advice you not to pursue accounting especially if you're going to get bachelors degree only.

 

[BudMarsh]

slightly yes,

but since myself being a product of the Big 4, my strong suggestion is get an FS client on your deal sheet. When you are in the Big 4, trust me you can move around much easily than compared to someone from the outside trying to get in.

Get a secondment, speak to your counsellor, say you would like a secondment and do some work on FS clients + think of big 4 in ME, UK, US, Bermuda, Channel Islands etc.

These would get you into banking and capital markets much quicker than a Masters

However, if you still not convinced speak to some of the seniors in your firm, take their advice. Probably someone at a manager/senior manager level.

Off the list of universities you mentioned, i would only recommend CASS and Cambridge, rest you can pass

Thanks a lot for your advice first of all.

Currently most guys I know who are in the Middle East aren't anywhere near TAS stuff, everybody joins audit mostly whether they want to or not.

My thinking currently is that I do a masters within a year or so, work 3-4 years more and then look to enter into a one-year MBA programme. Its a convoluted plan I admit but I really want some exposure at top Western universities before I enter into my thirties.

Lastly I'm surprised you picked Cass as its generally the easiest to get into out of all the Unis I mentioned.

 

[Little Master]

If you are specifically interested in investment banking you should consider doing CFA afterwards rather than MBA.

 

[BudMarsh]

If you are specifically interested in investment banking you should consider doing CFA afterwards rather than MBA.

Not really obsessed about banking. Its too cutthroat and ethically and religously its hard to justify working in such a field . Ideally I would like to work for a development bank/NGO in any type of finance/risk management role but there are very limited opportunities to enter into that field.

 

[nish_mate]

get some deals experience and then you would be able to get a job

Coming from Commerce & Industry MI background, no chance of deal or TAS work experience

 

[Zahid87]

slightly yes,

but since myself being a product of the Big 4, my strong suggestion is get an FS client on your deal sheet. When you are in the Big 4, trust me you can move around much easily than compared to someone from the outside trying to get in.

Get a secondment, speak to your counsellor, say you would like a secondment and do some work on FS clients + think of big 4 in ME, UK, US, Bermuda, Channel Islands etc.

These would get you into banking and capital markets much quicker than a Masters

However, if you still not convinced speak to some of the seniors in your firm, take their advice. Probably someone at a manager/senior manager level.

Off the list of universities you mentioned, i would only recommend CASS and Cambridge, rest you can pass

Any desk in the city would take an Msc from LSE, Warwick and Imperial over CASS. Thats not to say that CASS isn't good - its decent. But CVs which work their way our desk are filtered / sorted by Uni, and CASS is in the 'other' pile.

Also, the Msc route will only allow you to get in through the general graduate analyst pool. For Associate hire, you need an MBA.
[MENTION=135401]BudMarsh[/MENTION]....

If you do want to get into Banking, you have to have a set idea of what you want to do. Back Office and Front Office, or Consultancy are not comparable. To get into back office, you just about need to have a Degree. It is not difficult at all. Being from a Big 4 background, you are probably over qualified.

If you do want to move away from accounting and into Banking, the Msc is an option. An Msc from LSE/Oxbridge/Imperial/Warwick, coupled with your experience will get you an interview at a few banks.

Your other route is the MBA one. Again, an MBA from a decent business school - LBS, Insead, Harvard, Wharton, etc will get you an interview.

Your other option is to stay in the Big 4 firm that you are in. Become a qualified ACA, and then look to move to a boutique Corportae Finance firm / Private Equity firm. However, the fact that it is Big 4 from Pak may hamper you.

 

[kamz]

Coming from Commerce & Industry MI background, no chance of deal or TAS work experience

you do, all you need to do is get involved in JV or a M&A project in some shape or form to start of with. Unless u work for a very small business

normally every other organisation does have some sort of corporate financing work. 100% sure you could get on the DD team if the internal corp dev guys are driving the deal

 

[kamz]

Any desk in the city would take an Msc from LSE, Warwick and Imperial over CASS. Thats not to say that CASS isn't good - its decent. But CVs which work their way our desk are filtered / sorted by Uni, and CASS is in the 'other' pile.

Also, the Msc route will only allow you to get in through the general graduate analyst pool. For Associate hire, you need an MBA.
[MENTION=135401]BudMarsh[/MENTION]....

If you do want to get into Banking, you have to have a set idea of what you want to do. Back Office and Front Office, or Consultancy are not comparable. To get into back office, you just about need to have a Degree. It is not difficult at all. Being from a Big 4 background, you are probably over qualified.

If you do want to move away from accounting and into Banking, the Msc is an option. An Msc from LSE/Oxbridge/Imperial/Warwick, coupled with your experience will get you an interview at a few banks.

Your other route is the MBA one. Again, an MBA from a decent business school - LBS, Insead, Harvard, Wharton, etc will get you an interview.

Your other option is to stay in the Big 4 firm that you are in. Become a qualified ACA, and then look to move to a boutique Corportae Finance firm / Private Equity firm. However, the fact that it is Big 4 from Pak may hamper you.

sorry I did miss LSE and agree with you. But not every desk. I know for sure some of the IBs do not prefer LSE at all.

however, CASS is preferred more than Imperial and Warwick in the MSc and MBA route. The only place where CASS gets on the other pile is when we get an MBA from LBS, INSEAD, IESE, WHARTON, LSE and if the chap is applying to the utilities, retail and consumer team. They would prefer Imperial and Warwick over CASS

The only thing preferred of LSE is the Trium MBA and thats about it. The reason I know is that i recruited associates when i was part of a large IB

and yes I would agree stay in the Big 4 and go through that route. It still works. Normally from the Big4 it isnt necessary that you have to go through a small boutique. You could still get into one of the bigger IBs, except Goldman.

 

[nish_mate]

you do, all you need to do is get involved in JV or a M&A project in some shape or form to start of with. Unless u work for a very small business

normally every other organisation does have some sort of corporate financing work. 100% sure you could get on the DD team if the internal corp dev guys are driving the deal

well work for a FTSE 30 O&G giant as a contractor in their MI team, previously worked for an oil trading firm/airline/subsea firm in various forms of MI/business partnering/FM levels and now as i said trying to move outta main stream accounting MI and into treasury-hence the AMCT.

 

[BudMarsh]

Any desk in the city would take an Msc from LSE, Warwick and Imperial over CASS. Thats not to say that CASS isn't good - its decent. But CVs which work their way our desk are filtered / sorted by Uni, and CASS is in the 'other' pile.

Also, the Msc route will only allow you to get in through the general graduate analyst pool. For Associate hire, you need an MBA.
[MENTION=135401]BudMarsh[/MENTION]....

If you do want to get into Banking, you have to have a set idea of what you want to do. Back Office and Front Office, or Consultancy are not comparable. To get into back office, you just about need to have a Degree. It is not difficult at all. Being from a Big 4 background, you are probably over qualified.

If you do want to move away from accounting and into Banking, the Msc is an option. An Msc from LSE/Oxbridge/Imperial/Warwick, coupled with your experience will get you an interview at a few banks.

Your other route is the MBA one. Again, an MBA from a decent business school - LBS, Insead, Harvard, Wharton, etc will get you an interview.

Your other option is to stay in the Big 4 firm that you are in. Become a qualified ACA, and then look to move to a boutique Corportae Finance firm / Private Equity firm. However, the fact that it is Big 4 from Pak may hamper you.

Very few PE/boutique firms here in Pakistan and even if one moves to the Middle East, an ACA mostly gets jobs within the big 4/internal audit or as a finance manager in industry. I don't know of a single ACA who has an FO role either in Pakistan or in the UAE.

At the risk of sounding scatterbrained I would be going to one of these aforementioned Unis with a goal of getting a solid job in IB, consultancy, Asset management, or commercial banking. Preferably within Europe but I'll be willing to go almost anywhere within Asia as well. In simple terms anything that isn't audit I'll be happy with.

And in IB I was actually thinking of Risk Management when I mentioned a back office role, I've just read that its actually considered MO.

 

[kamz]

Very few PE/boutique firms here in Pakistan and even if one moves to the Middle East, an ACA mostly gets jobs within the big 4/internal audit or as a finance manager in industry. I don't know of a single ACA who has an FO role either in Pakistan or in the UAE.

At the risk of sounding scatterbrained I would be going to one of these aforementioned Unis with a goal of getting a solid job in IB, consultancy, Asset management, or commercial banking. Preferably within Europe but I'll be willing to go almost anywhere within Asia as well. In simple terms anything that isn't audit I'll be happy with.

And in IB I was actually thinking of Risk Management when I mentioned a back office role, I've just read that its actually considered MO.

What do you mean by FO role?

 

[Alchemy]

[MENTION=6728]kamz[/MENTION] and all other accountants here. I am doing BSc. ACF from LUMS. What degree you suggest doing after completing my bachelors? What areas i can apply in the job sector? I for one plan to do job for 2 years for experience and then apply to Canada/UAE for jobs. What do you suggest? Also, another option i am considering is to do MBA from University of Berlin or Michigan University after getting 2 years job experience?

 

[BudMarsh]

What do you mean by FO role?

Well something like an M & A Investment banking/analyst role at a bank like Standard Chartered or Citibank(talking about Pakistan). I know a few guys working in risk management/internal audit/finance controlling at major banks as ACAs and thats what I'm basing my viewpoint on.

Actually a lot of the best ACA's I know want nothing to do with banking in Pakistan. FMCG/telecom is what most guys aim for coming out of the Big 4 here. People here think you need to be a CFA to get into banking and with how tough the Pakistani CA already is, very few people can achieve both these qualifications.

 

[kamz]

Well something like an M & A Investment banking/analyst role at a bank like Standard Chartered or Citibank(talking about Pakistan). I know a few guys working in risk management/internal audit/finance controlling at major banks as ACAs and thats what I'm basing my viewpoint on.

Actually a lot of the best ACA's I know want nothing to do with banking in Pakistan. FMCG/telecom is what most guys aim for coming out of the Big 4 here. People here think you need to be a CFA to get into banking and with how tough the Pakistani CA already is, very few people can achieve both these qualifications.

if you wanna do pure M&A role, trust me CFA adds no value whatsoever. Its a myth that it does. Yes if you trying to get into managing a fund or a fund of funds, or becoming a hedge fund manager or a portfolio manager, then yes absolutely CFA is the right thing to do.

in my experience of 10 years doing FIG deals, i have never ever used a black scholes options model. the most we go to is acretion/dilution analysis, senstivities, FCFs, PE ratios etc etc which i am sure you have all covered in your ACA

 

[kamz]

Thanks a lot for your advice first of all.

Currently most guys I know who are in the Middle East aren't anywhere near TAS stuff, everybody joins audit mostly whether they want to or not.

My thinking currently is that I do a masters within a year or so, work 3-4 years more and then look to enter into a one-year MBA programme. Its a convoluted plan I admit but I really want some exposure at top Western universities before I enter into my thirties.

Lastly I'm surprised you picked Cass as its generally the easiest to get into out of all the Unis I mentioned.

the reason the ME team members arent anywhere TAS stuff is because there isnt much lead advisory work. They do have DD work, but no funding, IPO or any sort of flashy work that an IB or a boutique would get.

however, they are looking to build it up. I know in UAE, deloitte gets its London team to do the TAS/FAS work. The DP world account is completely managed out of UK.

EY is hiring valuations execs and asociates. Try and speak to them.

The reason I pick CASS is that they have the largest insurance and banking alumni. I know they dont ask for GMAT scores either. But pick any chap from CASS doing an MBA and for sure they will score 650+ in GMAT.

CASS, LSE and LBS are the strongest in terms of MBA. Infact the LBS and CASS MBA are mirror image of each other.

If you really wanna learn something extraordinary, unique just for the sake of learning and seeking knowledge, try IESE, speak to a chap named stephen adamson. Southern European/Mediterrenean/Arab CEOs are a different breed to the normal anglo saxons/northern european/rest of the world CEOs.

 

[kamz]

[MENTION=1889]Saqs[/MENTION] report here asap your input on the big 4 ME TAS side would be quite useful for the budding lads

 

[Zahid87]

if you wanna do pure M&A role, trust me CFA adds no value whatsoever. Its a myth that it does. Yes if you trying to get into managing a fund or a fund of funds, or becoming a hedge fund manager or a portfolio manager, then yes absolutely CFA is the right thing to do.

in my experience of 10 years doing FIG deals, i have never ever used a black scholes options model. the most we go to is acretion/dilution analysis, senstivities, FCFs, PE ratios, which i am sure you have all covered in your ACA

Exactly. Would only ever need to do CFA to move to a buyside role if you are based in IB.
[MENTION=135401]BudMarsh[/MENTION]....advice to you would be to carry on and become qualified first, and whilst doing that do a bit of research. Find out what it is you want to do. 'Banking' is a vast word. Lots of different roles. Risk Management is something I would consider below an ACA qualified person, working at the Big 4.

If you are serious about a career within Investment Banking, and have an idea of what area of Banking you want to go in - you also have to think about where you want to work. I don't know anything about IB in Pakistan, but don't imagine that its a thriving sector there.

If you do want to work in say London, then your best move would be to do an Msc here in the UK from one of the Unis mentioned earlier or MBA from a top Business School. With regards to the Middle East, Kamz would probably be able to offer better advice.

 

[kamz]

[MENTION=6728]kamz[/MENTION] and all other accountants here. I am doing BSc. ACF from LUMS. What degree you suggest doing after completing my bachelors? What areas i can apply in the job sector? I for one plan to do job for 2 years for experience and then apply to Canada/UAE for jobs. What do you suggest? Also, another option i am considering is to do MBA from University of Berlin or Michigan University after getting 2 years job experience?

jaan meri jo degree kar rahe ho usko to pehle pura karlein work for about 6 years in my suggestion. Try starting in pakistan give a year or two there, then move out. Its quite a learning experience when you work in different countries and different cultures. and it is valued by employers.

an MBA is of true worth only when you yourself bring valuable experience and skill set to the table.

In 2 years time, I doubt you would have gathered that much of a skill set that a top b-school would want to recruit you in their MBA program.

 

[kamz]

Exactly. Would only ever need to do CFA to move to a buyside role if you are based in IB.
[MENTION=135401]BudMarsh[/MENTION]....advice to you would be to carry on and become qualified first, and whilst doing that do a bit of research. Find out what it is you want to do. 'Banking' is a vast word. Lots of different roles. Risk Management is something I would consider below an ACA qualified person, working at the Big 4.

If you are serious about a career within Investment Banking, and have an idea of what area of Banking you want to go in - you also have to think about where you want to work. I don't know anything about IB in Pakistan, but don't imagine that its a thriving sector there.

If you do want to work in say London, then your best move would be to do an Msc here in the UK from one of the Unis mentioned earlier or MBA from a top Business School. With regards to the Middle East, Kamz would probably be able to offer better advice.

even in buyside, Zahid if I have a very complex shareholder structure or synergy calculation - South African organisations tend to have, id get an actuary to help us out with the synergy valuations. M&A chaps wouldnt be doing it themselves.

in the UK i know MS and CS are hiring at associate level. They have a strong pipeline.

Word of advice [MENTION=135401]BudMarsh[/MENTION]. If you wanna work in the city and be mr citi kickboxer, train under a jewish MD and be prepared to sell your soul

 

[BudMarsh]

even in buyside, Zahid if I have a very complex shareholder structure or synergy calculation - South African organisations tend to have, id get an actuary to help us out with the synergy valuations. M&A chaps wouldnt be doing it themselves.

in the UK i know MS and CS are hiring at associate level. They have a strong pipeline.

Word of advice [MENTION=135401]BudMarsh[/MENTION]. If you wanna work in the city and be mr citi kickboxer, train under a jewish MD and be prepared to sell your soul

I value my soul a lot. Seriously though in an ideal world I'd love to work somewhere that actually helps people and makes you feel like you are contributing in a positive way to humanity. I would like to think 10-15 years down the line I'm not in soul-selling job.

But once again thanks a lot kamz for some useful advice. A lot of my peers/seniors here offer useless advice. "Do CFA" or even better "Get married, you will get barkat and increase your earnings"....

 

[kamz]

I value my soul a lot. Seriously though in an ideal world I'd love to work somewhere that actually helps people and makes you feel like you are contributing in a positive way to humanity. I would like to think 10-15 years down the line I'm not in soul-selling job.

But once again thanks a lot kamz for some useful advice. A lot of my peers/seniors here offer useless advice. "Do CFA" or even better "Get married, you will get barkat and increase your earnings"....

there is a lot of hate for mutawwas and maulvis here, but i sincerely believe in that, because my beloved prophet has said that, and he for surely cannot lie

so even i would advice that saves you from zina, frustration levels are low as basic need is fulfilled and earnings also has barakah



but in all seriousness do network in the big 4 and keep yourself in the loop. Resource issues are always there, u never know when u might get pulled on an engagement related to FS or DD

after all your job is to put the effort, rest is in Allah's hands

speak to [MENTION=1889]Saqs[/MENTION] here. He is also with the big 4 and can give some good advice.

if u dont wanna sell your soul, work for a big IB for a couple of years, dont work in origination, focus on execution of transaction and then move back into the big 4 or a small boutique

 

[Pak_Jazba]

Strangely, this thread has wandered off from being an 'Accountancy' thread to an all-out 'Finance and Investment' one LOL.

@ topic. A qualified ACCA and CMA here, studying to become an ACA from ICAEW.

Would like to add one thing here, i've been working in a Big 4 in the Middle East for sometime now, and it is true that not much Advisory (TAS & FS) is available here. You'll really need to move out to bigger markets in Europe or elsewhere if you want to get a head-on start in that field.

Another point people are making here are about Schools like CASS, MBS, LBS. These schools are for highly experienced and top professionals in their respective fields. CEOs, MDs from Top Regional Banks, Conglomerates and Partnerships are the ones who enter these programs in their mid to late 30s. A guy who has just finished his bachelors will look like a simpleton (with all due respect) sitting with the individuals there. My honest advice is, if you indeed want to do an MBA in these schools get yourself an experience of atleast 6-8 years in a Top Organisation.

If you still want to continue on the MBA route, the MBAs from lower ranked Business Schools is always an option.

 

[Gotham Cronie]

I'm a CPA. Accounting is not a good profession to be in USA anymore. If you're a freshman in college you still have the time to choose a new major. I'll advice you not to pursue accounting especially if you're going to get bachelors degree only.

CPA here who just wrapped up year 3 in public accounting (Audit). Why do you say it's not a good profession?

I just read reports last week on how much of a high demand there is in this field from employers.

 

[Little Master]

CPA here who just wrapped up year 3 in public accounting (Audit). Why do you say it's not a good profession?

I just read reports last week on how much of a high demand there is in this field from employers.

Well, audit is fun as long as you are learning but after a certain point in time it becomes extremely redundant and feels more like a template filling exercise. For first 4 to 5 years while you are progressing up the ladder are fun though.

 

[kamz]

Strangely, this thread has wandered off from being an 'Accountancy' thread to an all-out 'Finance and Investment' one LOL.

@ topic. A qualified ACCA and CMA here, studying to become an ACA from ICAEW.

Would like to add one thing here, i've been working in a Big 4 in the Middle East for sometime now, and it is true that not much Advisory (TAS & FS) is available here. You'll really need to move out to bigger markets in Europe or elsewhere if you want to get a head-on start in that field.

Another point people are making here are about Schools like CASS, MBS, LBS. These schools are for highly experienced and top professionals in their respective fields. CEOs, MDs from Top Regional Banks, Conglomerates and Partnerships are the ones who enter these programs in their mid to late 30s. A guy who has just finished his bachelors will look like a simpleton (with all due respect) sitting with the individuals there. My honest advice is, if you indeed want to do an MBA in these schools get yourself an experience of atleast 6-8 years in a Top Organisation.

If you still want to continue on the MBA route, the MBAs from lower ranked Business Schools is always an option.

im the guilty one here, to drive the accoutancy thred into finance one. But since it asked for ACAs I reported my self

 

[BudMarsh]

Strangely, this thread has wandered off from being an 'Accountancy' thread to an all-out 'Finance and Investment' one LOL.

@ topic. A qualified ACCA and CMA here, studying to become an ACA from ICAEW.

Would like to add one thing here, i've been working in a Big 4 in the Middle East for sometime now, and it is true that not much Advisory (TAS & FS) is available here. You'll really need to move out to bigger markets in Europe or elsewhere if you want to get a head-on start in that field.

Another point people are making here are about Schools like CASS, MBS, LBS. These schools are for highly experienced and top professionals in their respective fields. CEOs, MDs from Top Regional Banks, Conglomerates and Partnerships are the ones who enter these programs in their mid to late 30s. A guy who has just finished his bachelors will look like a simpleton (with all due respect) sitting with the individuals there. My honest advice is, if you indeed want to do an MBA in these schools get yourself an experience of atleast 6-8 years in a Top Organisation.

If you still want to continue on the MBA route, the MBAs from lower ranked Business Schools is always an option.

Tbh mate, what you're talking about regarding MBA only applies to EMBA programmes. At most of the top B-schools in the world average age is 26-30. I know guys with barely 2-3 years experience who have gone to INSEAD, Cass and the like for MBA. Of course 2-3 years experience as an Audit trainee wouldn't be enough but even then 1-2 years of Supervisor/D.Manager level posts + solid GMAT is probably enough for all but the most elite business schools.

Also an Msc at one of these top-tier Unis almost never requires any sort of work experience besides internships. You could apply to a few Cass MSc programmes for instance on the basis of an ACCA/OBU BSc Accounting degree alone. In Pakistan graduates from IBA/LUMS often immediately go on to study Masters at top-tier Unis if they have a 3.5+ GPA. I personally have a UoL International BSc degree and this too is pretty much good enough for most of the top UK Unis.

 

[Saqs]

[MENTION=1889]Saqs[/MENTION] report here asap your input on the big 4 ME TAS side would be quite useful for the budding lads

Hey [MENTION=6728]kamz[/MENTION]. Been a long time.

I haven't read through the thread, but happy to field specific queries from anyone on here.

 

[CricketCartoons]

Hey [MENTION=6728]kamz[/MENTION]. Been a long time.

I haven't read through the thread, but happy to field specific queries from anyone on here.

I thought you were in real estate, trying to sell property to clients. Is that true?

What kind of job are you doing now? What are the skills needed (academic, software etc).

Thanks.

 

[Saqs]

I thought you were in real estate, trying to sell property to clients. Is that true?

What kind of job are you doing now? What are the skills needed (academic, software etc).

Thanks.

I'm in Real Estate, but not in agency (which is selling property).

I'm in the transactions advisory and valuations space which fall in to the professional services and management consultancy sectors I guess.

Academically you need to be a qualified valuer and have a minimum of a bachelors degree related to finance.

In terms of software skills, you basically need to be able to do complex excel modelling in your sleep.

In terms of communication skills, you need to be able to convey sometimes complex concepts and tough decisions to senior board members of big investment houses. That is always interesting.

In term of time management, you need to be willing to drop everything and work crazy hours for short bursts of time while a major transaction is taking place. [MENTION=6728]kamz[/MENTION] would know all about that.

 

[Anfield]

CPA here who just wrapped up year 3 in public accounting (Audit). Why do you say it's not a good profession?

I just read reports last week on how much of a high demand there is in this field from employers.

Too much competition in Public accounting now. There are so many candidates and fewer opening. It's very hard for people bachelors degree to get into public accounting. You need a) Masters degree or be CPA. b)internship in a public accounting firm. c) GPA of over 3.2.

if you don't get into a public accounting firm then the salary is too less and still the competition is a lot. Those reports IMO are misleading..

 

[DRS]

Such a delight to see so many people who are pursuing an accountancy degree are present here. I am myself pursuing a degree in commerce with majors in Accounting and Finance with just only 1 semester, from a university in Pak, Lhr , left so it would nice to get some expert advice from people who are working in the field . I got to admit that I couldnt fathom few terms such as "Big 4" etc.

I am planning to do MBA but if one goes abroad, the cost is definitely would be high. Some people have already stated that it wouldn't add much value, so my first question is do Accountants with only degrees such as CFOs, Acca etc get job in Markets or those with degrees in Accounting and Finance also get respectable jobs with prospectus of growth.

I don't intend to go for advanced degrees such as ACMA etc at present since I am under the impression that it would consume up the remaining part of life, I would rather pursue them after getting a job. Thus, anyone [MENTION=6728]kamz[/MENTION] etc could guide me what are my options? Imperative to mention that I am sort of not satisfied with current degree I am pursuing as it is considered as rather traditional degree and many people have created clouds of despondency around me.

 

[Savak]

Immigrated to Canada 2 years ago after finishing my BBA and MBA from Pakistan from IBA. Unfortunately my Pakistani degrees had no real standing over here so i decided to diversify and do something different. Have been pursuing the CA/CPA designation in Canada and have been trying to finish the prerequisite courses. They initially gave me exemptions for 5 courses when i first landed here and told me that i had to finish 12 other courses which was fine by me as i hadn't completed them. I enrolled at York University and then i discovered that these 12 courses were actually around 20-21 courses as the university had their own policies where you had to complete certain prerequisite courses. Later the CA designation was replaced by the CPA designation where they added another 3 extra courses to their requirement. Last but not least they have taken away 4 out of the 5 exemptions i was given when i landed under the pretext that i have to complete those courses in Canada. It will just take me another semmester now to get them out of the way.

As far as staff accounting jobs are concerned. Must admit i completely underestimated my challenge, getting into the Big 6 is always competitive anywhere on the planet but even more so in Canada, in every networking conference, session i have been i have just been shocked to see so many applicants lol on average 20 sometimes even 30 students for one recruiter. The problem i find in the universities is that they strictly focus on the Big 4-6, they dont do well as far as preparing students for the other small firms

 

[Little Master]

Such a delight to see so many people who are pursuing an accountancy degree are present here. I am myself pursuing a degree in commerce with majors in Accounting and Finance with just only 1 semester, from a university in Pak, Lhr , left so it would nice to get some expert advice from people who are working in the field . I got to admit that I couldnt fathom few terms such as "Big 4" etc.

I am planning to do MBA but if one goes abroad, the cost is definitely would be high. Some people have already stated that it wouldn't add much value, so my first question is do Accountants with only degrees such as CFOs, Acca etc get job in Markets or those with degrees in Accounting and Finance also get respectable jobs with prospectus of growth.

I don't intend to go for advanced degrees such as ACMA etc at present since I am under the impression that it would consume up the remaining part of life, I would rather pursue them after getting a job. Thus, anyone [MENTION=6728]kamz[/MENTION] etc could guide me what are my options? Imperative to mention that I am sort of not satisfied with current degree I am pursuing as it is considered as rather traditional degree and many people have created clouds of despondency around me.

If you want a decent job within accounts and finance then you will have to go for a professional degree alongside it. Graduation alone in accounting is not going to do much for you.

 

[Savak]

Thought it would be most appropriate to update my PP family, i finally cleared the final CPA exam in Canada i.e. the CFE, no more Canadian Accounting exams to give. Looks like my wife has indeed bought me good luck already