Tuesday, October 7, 2008


What is the best accounting degree? It is one of the most confusing questions youth faces leaving colleges in Pakistan.

Choosing between carriers after completing higher secondary education is not a simple task anymore. It is one of the most nerve spending task parents and students find. There were days when there were only just 2 dream career paths i.e. Medical and Engineering and still today these two are the most dominating careers in Pakistan. Every year thousands and thousands of students got admitted in pre-medical and pre-engineering but as always… we have limited, if said precisely than very limited seats.

So, with dreams shattered youngsters with no clue what to do after not getting the admission in their "dream-field", it becomes more of a trauma attack.

Among many reasons like financial inability to afford the fees of institutes and universities students are found complaining that we have no idea what should we be doing now. According to a student of Punjab Group of Colleges named Abdul Rehman

"I actually wanted to be an engineer, no matter what engineer. My parents had dreamt about it for so long but in the end I was among those so many who failed to pass entry test of University of Engineering and Technology (UET) and so now I am confused what should I be doing to secure my future. I have heard about Chartered Accountancy (CA) and ACCA but problem is still there, I have no idea how should I be starting that and I am the eldest of all in my home."

About 76% of students leaving colleges have unsatisfactory knowledge of professional qualifications available to be chosen as their career

This is not the just the situation of Abdul Rehman alone. Like him there are so many friends out there who have been bitten by the same sting.

What is the solution then?

According to an informal quiz conducted in some classes of pre-engineering and pre-medical college revealed a daunting fact. Around 76% of students are found who knew only about 4 professional qualifications on average. That means when they will be leaving colleges they will be concentrating more ONLY on these 4 qualifications and thus leaving them with lesser and lesser chances of getting their hands on good career.

Today we will be introducing you to some of the renowned accountancy degrees about which most of the people have no idea and, if they know the name somehow, have never given them much importance.

So here are some of the accountancy and auditing fields that we have selected:

Local institutes providing globally recognized qualifications:

  1. Institute of Chartered Accountants of Pakistan (ICAP)
  2. Institute of Cost and Management Accountants of Pakistan (ICMA)
  3. Pakistan Institute of Public Finance Accountants (PIPFA)

Global institutes/bodies providing globally recognized qualifications:

  1. Association of Chartered Certified Accountants (ACCA)
  2. Chartered Institute of Management Accountants (CIMA)
  3. Chartered Financial Analyst Institute (CFAI)
  4. Institute of Internal Auditors (IIA)
  5. Chartered Institute of Public Finance and Accountancy (CIPFA)
  6. Institute of Chartered Accountants of England and Wales (ICAEW)
  7. American Institute of Certified Public Accountants (AICPA)
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