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“Tesco Ireland and Hibernian are the two latest companies to joint the Institute of Chartered Accountants in Ireland (ICAI) employer partnership scheme.

The employer partnership scheme’s objective is to promote best practice in learning and development by working with employers to help chartered accountants employed in their businesses fulfill their CPD requirements.” Click here to read more

I feel that ICWAI should have tie ups with the employers in India, so that students pursing Cost & Management Accountancy will be focussed in this direction. Similarly the profession will get a boost since there will be a partnership by ICWAI with the industry. The career path of management accountants will be guided to rise in the corporate ladder.

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Regards,

Santosh Puthran

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1. Choosing an Accounting Qualification
2. ICWAI vs CIMA
3. Shortage of Accountants
4. Calculate Move - Career in Management Accountancy
5. Goal Setting your career
6. Company Secretary
7. Choosing Accounting Qualification - Video Message

I have been writing on the blog for quite sometime. So I decided to attempt on first video message. The message is more relevant who wants to make his career globally.

Watch me http://accountant.blip.tv. The above video link in large picture

Regards,

Santosh Puthran

“Some people look for things that went wrong and try to fix them. I look for things that went right and try to build on them.” - From the book “Re-Image - Tom Peters“

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Such sheer size and complexity create significant challenges to comptrollership, financial management and accountability, he adds, during the course of a recent e-mail interaction with Business Line.

CMA has ‘more than 37,000 CMAs and 10,000 CMA students,’ as www.cma-canada.org informs. And as the new chief of the body, when Mr Monk spoke of his priorities in the latest issue of www.managementmag.com, first came the aligning of ‘major governance initiatives,’ and second, the continuing ‘to cultivate relationships with international associations with similar values and services to those of CMA Canada.’

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Santosh Puthran

The pleasant surprises and disappointment in education India in year 2007 according to Business Standard:

1. SC stays quota in IITs and IIMs
2. AICTE cracks whip on defaulting B-schools
3. IIMs make admission process more transparent
4. IIM Shillong takes off
5. IIM-A and IIM-B get new directors
6. B-school grads bag Ivy League salaries
7. Higher budget allocation for education sector
8. Prime Minister announces 8 new IITs; 7 new IIMs
9. University of Mumbai plans listing on bourses
10. Delhi HC upheld AICTE’s stand in CFA issue

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Santosh Puthran

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1. News Makers
2. Career

Europe English - Humour on the internet

The European Commission has just announced an agreement whereby English will be the official language of the EU rather than German which was the other possibility.

As part of the negotiations, Her Majesty’s Government conceded that English spelling had some room for improvement and has accepted a five year phase-in plan that would be known as “Euro-English”.

In the first year, “s” will replace the soft “c”. Sertainly, this will make the sivil servants jump with joy. The hard “c” will be dropped in favour of the “k”. This should klear up konfusion and keyboards kan have 1 less letter.

There will be growing publik enthusiasm in the sekond year, when the troublesome “ph” will be replaced with “f”. This will make words like “fotograf” 20% shorter.

In the 3rd year, publik akseptanse of the new spelling kan be ekspekted to reach the stage where more komplikated changes are possible. Governments will enkorage the removal of double letters, which have always ben a deterent to akurate speling. Also, al wil agre that the horible mes of the silent “e”s in the language is disgraseful, and they should go away.

By the fourth year, peopl wil be reseptiv to steps such as replasing “th” with “z” and “w” with “v”. During ze fifz year, ze unesesary “o” kan be dropd from vords kontaining “ou” and similar changes vud of kors be aplid to ozer kombinations of leters.

After zis fifz yer, ve vil hav a reli sensibl riten styl. Zer vil be no mor trubl or difikultis and evrivun vil find it ezi to understand ech ozer. Ze drem vil finali kum tru! And zen world!

Approved Overseas Accounting Bodies
The Institute of Chartered Accountants in Australia (the Institute) has reciprocity agreements with the following overseas accounting bodies:

• The Institute of Chartered Accountants in England & Wales
• The Institute of Chartered Accountants of Scotland
• The Institute of Chartered Accountants in Ireland.
• Canadian Institute of Chartered Accountants
• A legally constituted State Authority in the United States of America (the person having
  CPA status) subject to appropriate service. Also having a Licence to Practice in the state of issue.
• The South African Institute of Chartered Accountants
• The New Zealand Institute of Chartered Accountants (members of the College of Chartered Accountants)
• Institute of Chartered Accountants of Zimbabwe (admitted after 1, Jan 1996)
• The Hong Kong Institute of Certified Public Accountants (only members who have completed the HKICPA Qualifications Programme and trained under an Authorised Employer/Supervisor).

Partially recognised qualification

The partially recognised overseas accounting bodies are:

• Current members of The Association of Chartered Certified Accountants (ACCA, UK)
• Current members of The Chartered Institute of Management Accountants (CIMA, UK)**refer note
• Current members of The Chartered Institute of Public Finance & Accountancy (CIPFA,UK)
• Current members of The Institute of Chartered Accountants of India
• Current members of The Institute of Chartered Accountants of Zimbabwe (membership obtained before January 1996)

** Note: The Chartered Institute of Management Accountants (CIMA, UK) and the Institute have a strategic alliance. Read the Institute Recognition Policy from CIMA members for further information.

The above information covers the major accounting bodies in the world. The question is which qualification should I pursue. You may try to find answers by raising the right questions:

1. Where do I want to work ? Or in which country I would like to make my career ?
2. Which qualification will allows me to practise in the country ?
3. Which institute helps the members to further their career prospects in the industry ?
4. Which institute has the most influence in the industry ?
5. What you can contribute to the profession ?
6. Which examination route is affordable ?

In my opinion, if you are living in UK/Australia/SA, Canada or US and you have completed your Bachelor’s degree then the first choice would be to pursue the qualification from the Institute of Chartered Accountants of your country of residence or CPA. The reciprocity agreements among the accounting bodies will make your career path smooth.

If you are not a resident of above countries, then you have decide whether you want to make your career abroad. The choice of pursuing the accounting qualification will depend on whether you want to work or practise locally. You have wide variety of choices to make.

Otherwise you should consider the pursuing accounting qualifications in following order:

1. AICPA, US.
2. ICAEW
3. ACCA
4. CIMA
5. ICAA

Of the above, ACCA and CIMA have examination centres in the most of the countries. Otherwise you have to be resident in the country of the above institutes.

It’s your career. Make the right decision…. otherwise you will be chasing the squirrel the whole life.

Regards,

Santosh Puthran

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You may also like to read

1. Shortage of Accountants
2. Probing Accountant’s attitude to the Accounting body
3. Professional Body
4. ICAEW qualification in Middle East
5. ICWAI v/s CIMA
6. ACCA vs CIMA
   

The accountants are so much in demand across the world. If you are a qualified accountant then you should consider career opportunities across the globe. The critical shortages faced are in Australia and New Zealand. Check in google.

You will find plenty of opportunities in Africa or far east countries like Indonesia/Vietnam which will have salaries split up in dollars and local currency. The earning potential in these countries are quite high. You have to strike a balance with money and life style.

Developed countries offer better option to settle down. Decide wisely.

Regards,

Santosh Puthran

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MUMBAI: As a first move towards making India the first country to adopt accounting standards on carbon emissions, the board of ICAI (The Institute of Chartered Accountants of India) has constituted a group which will come up with the draft guidelines before March 31, 2008.

The group, set up on December 11, will be headed by ICAI accounting standards board chairman, Amarjit Chopra. When contacted, Chopra said the group will look into development of accounting and disclosure practices on emissions trading. The group will study the full scope and relevance of the carbon market from India’s point of view.

ICAI president Sunil Talati said, the group will seek clarity on how corporates need to treat the income earned from carbon credits. “There is a view that carbon credits should be recognised for the purpose of accounting after they have been traded. The group is likely to seek views of corporates like SRF and Coal India.”

Source : The Times of India

Regards,

Santosh Puthran

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