the public seem to know chartered accountant existence only and not aware of other accounting bodies. why does it so? my friends and relatives know i study for ACCA professional examination but they still think i will become a Chartered Accountant not Certified Accountant.
more importantly, what is the different between Certified Accountant and Chartered Accountant? i was told in fact Certified Accountant has more choice than Chartered Accountant in term of variety of jobs in accounting field once qualified.
tell me more please. thank you
kevin
Replies (7)
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Chartered has a long successful history
That's right! The Chartered has a long succesful history. Nowadays, overseas countries also tried to adopt the name Chartered to their national regulatory accounting body. In Malaysia, members of the Malaysian Inst of Accountants are now known as CAs after the Accountants' Act has been amended last year.
The population of CACAs in Malaysia is far more than the CAs (ICA, ICAi + ICAEW) but when it comes to namesake and prestige, people still view the CAs as number one.
Well, I guess the CAs has got a long successful history and good name to itself. But honestly, the CACA exams are of a very high standards, besides the CAs. Still people are in favour of CAs as of todate.
Non-Recognition
Both associations refuse to accept that the other exists, so does that not count as a contra?
Merry Christmas
Depends which way you want to look
It was always explained to me thus:
Chartered Accountants look back at historic figures and audit companies accounts.
Chartered Management Accountants look forward and are employed to prepare forecasts and business plans.
Chartered Certified Accountants can't quite decide which way to look.
perception
It is a matter of public perception. The largest firms are all chartered accountants because this was the perceived normal training route for the practice (ie most certified bods were trained in industry and better suited to management accountancy). The largest firm of certified accountants in the UK is a small firm when compared to the top 50 chartered accountancy practices, and possibly even the top 100. A certified accountant in practice is potentially just as good (or just as bad) as a chartered accountant. People are ignorant. Don't worry about it; if you are good you will be rich and successful.
True difference
A certified accountant is always miffed that their institute does not have the same prestige as the chartered lot. A chartered accountant is haunted by the suspicion that the certified exams are a bit harder.
But seriously...
As far as opening doors, I would challenge anyone to say that my career was not varied, and I'm a chartered (ICAEW) accountant. Any of the top level qualifications is very worthwhile. Once you've held the qualification for a year or two, your career direction has more to do with your personal qualities and the luck of the draw than anything else. (Unless you want to be an auditor, and who really wants to do that!)