CPA requirements (2 Viewers)

[mojako]

Does any of you know much about the requirements to get CPA?

I'm doing a double degree which is not listed on http://www.cpacareers.com.au/study_options/acc_course_search.asp.
Will this still be ok (if I do all the required courses/subjects as for the usual comm students)?

My degree is BCom/BEngineering. BCom/BScience should be in a similar situation because it's also not accredited and has the same program structure:
4 core courses (no need for QMA and QMB), 8 major courses, 4 minor courses, no options, no gen-eds.

What will be my option if they don't accept this BCom/BEng?

I emailed them but no reply yet.

Also, out of CPA and CA, which one do you think is better?

Thanks.

 

[jase_]

Usually they don't list the combined degrees on the site, just the single degree (in your case BComm). I think if you meet the subject requirements on your BComm side, it should be fine. Like with my course, its not listed on there either (and same with all the other BBusiness combined degrees), but it's still fine.

 

[mojako]

but they list unsw comm/arts double degree and also comm/laws

do u know if u can also substitute subjects?
they have ECON1203 on the list (for normal unsw comm students) but my double degree doesnt require me to do that (its substituted with maths and statistics).
will CPA have the final say on whether to approve or not, or if I can get UNSW to say that the other subject is equivalent to ECON1203, CPA will have to accept it?

 

[Grizzly]

My guess is that CPA wouldn't see it as a problem.

http://www.accounting.unsw.edu.au/n...leArea&maxWnd=_Future_ProfessionalRecognition

Note. ECON1203 is compulsary for a COMM degree.
And also;

Associate membership of CPA Australia requires an accredited undergraduate degree with a major in accounting and in the case of UNSW, the completion of the courses listed below.
Required Courses

ACCT2522 Management Accounting: Process Improvement and Innovation


ACCT2542 Corporate Financial Reporting and Analysis


ACCT3563 Issues in Financial Reporting and Analysis; or

ACCT3573 Issues in Financial Reporting and Analysis (Honours)


ACCT3583 Stakeholder Value Management; or

ACCT3593 Stakeholder Value Management (Honours)


*ACCT3708 Auditing and Assurance Services; or

*ACCT3718 Auditing and Assurance Services (Honours)


FINS1613 Business Finance


INFS1602 Computer Information Systems


LEGT1711 Legal Environment of Commerce


LEGT2721 Business Transactions


LEGT2741 Business Entities


*LEGT2751 Business Taxation

* It is no longer mandatory to include ACCT3708 (or ACCT3718) and LEGT2751 but it is desirable to do so.


So as long as you can get your accting major, and complete those required courses for CPA - entry to their program should be fine.
Then again, always best to ask them directly as it can change.

 

[Grizzly]

Also, out of CPA and CA, which one do you think is better?

My take;

Some like BMW, others like Mercedes.
CA is more difficult.
Big4 expect you to undertake CA (confirm?).
UNSW students are inclined to do CA, whilst MacqU are inclined to do CPA. (1st year accting lecturer is president of CPA NSW)

 

[mojako]

"Note. ECON1203 is compulsary for a COMM degree."
If I don't care about this CPA thing, I can get BCom/BEng without ECON1203... similar case with BCom/BSci. We do maths courses instead.

"requires an accredited undergraduate degree with a major in accounting and in the case of UNSW, the completion of the courses listed below."
and my degree (BCom/BEng) isnt formally accredited lol

 

[Grizzly]

"Note. ECON1203 is compulsary for a COMM degree."
If I don't care about this CPA thing, I can get BCom/BEng without ECON1203... similar case with BCom/BSci. We do maths courses instead.

"requires an accredited undergraduate degree with a major in accounting and in the case of UNSW, the completion of the courses listed below."
and my degree (BCom/BEng) isnt formally accredited lol

Yep i know, you don't need econ1203.

lol, what u mean isnt formally accredited, where'd it say that ?

 

[mojako]

Yep i know, you don't need econ1203.

lol, what u mean isnt formally accredited, where'd it say that ?

I meant BCom/BEng isnt listed on http://www.cpacareers.com.au/study_options/acc_course_search.asp
Anyway I called CPA and they said it would be fine, but I need to do QMB.
And I got a reply to my email too (so they do reply to strangers' emails... I was pessimistic before)

What are the Big4 firms?

If I work in a company (business/normal company, not accounting company), is there a trend on which qualification (CPA or CA) is more preferred?
Does it depend on the position or size of the company as well? For example the high level managers are usually CA?

 

[jase_]

Big4 firms are PricewaterhouseCoopers, Ernst & Young, KPMG and Deloitte. They prefer you to do the CA if you're in their auditing division. I guess it depends what division you're in as well. In the divison I work in, I don't have to do the CA/CPA programs.

 

[ace]

Seems a little stupid for them to impose that you do QMB. Considering you are doing harder engineering math equivalents (as least by UNSW standards).

Did you have in your e-mail, that you are doing subjects that exempt you from QMB for the reason that the same material is covered?

As long as you explain the situation, and backed up with facts (transcripts) etc, I can't imagine as to why they would force QMB on your head.

Btw, since you are doing Bcom/Bengineering, you should be able to fit the various extra subject requirements for a CA/CPA if you don't do a minor (or do a minor in Business Law).

However... If you are doing Bcom/BE(Software Engineering), you will have to do a few courses non-award (that means doing them that go towards no actual university award, but rather for personal preference or organisation requirements), in this case for the organisational (Ca/Cpa) requirements.

Well have fun,
Cheers

 

[mojako]

Are there companies that prefer CPA?

To ace:
No I didn't explicitly said about the maths that exempts me from QMB because it covers the same material... I just told them I do BCom/BEng and in that program I don't do QMB, then asked if I could substitute it with another equivalent course(s) and what would they be.

I think I'll just wait until my final year, maybe BCom/BEng will have been accredited by then and I don't need to go through the trouble of getting transcripts. And I can still do QMB as non-award...

btw do u know how long BCom/BSci degree has been for? as long as BCom/BArts?

 

[Minai]

I'm pretty sure you can either do QMB/QMA or the two MATH subjects and meet the prerequisite requirements..

I'd suggest doing all the subjects required by both CA and CPA (including LEGT2751, ACCT3708 and INFS1602). You'd be able to fit it with the commerce side of your degree

 

[seremify007]

Big4 firms are PricewaterhouseCoopers, Ernst & Young, KPMG and Deloitte. They prefer you to do the CA if you're in their auditing division. I guess it depends what division you're in as well. In the divison I work in, I don't have to do the CA/CPA programs.

Yep they prefer CA- except I think in Deloitte there are a few CPAs. But for most of the people my age who are on cadetships, CA is the way to go- probably because the program was organised by the ICAA^^

As for jasee, what division are you in may I ask? PM me if you don't want others to see?

Are there companies that prefer CPA?

If I work in a company (business/normal company, not accounting company), is there a trend on which qualification (CPA or CA) is more preferred?
Does it depend on the position or size of the company as well? For example the high level managers are usually CA?

I don't think so... usually jobs are advertised saying CA/CPA required, or just CA. But then I could be wrong...

Nonetheless though, CA is generally regarded as a much more challenging program with a very low pass rate. Despite the CPA adds which make it look like they "rule the world of business", in Australia however, CA tends to be much higher respected and if you are upto it academically, you might as well study it since it's international recognition* will probably be of use to you in the future for job prospects.

(EDIT) I should add though, that for most accounting-related jobs, there's still plenty of prospects for CPAs; i'd say nearly equal to CA. Some businesses may prefer a CPA because I think that's probably more suited to them whereas CA tends to be a much smaller program (ie. alot less people). Check the relevant websites (www.flyhigher.com.au and www.icaa.org.au for CA; you already have CPA australia's site) and try to get past their propoganda and see which one really appeals to you more.

Oh and one more thing, CPA Australia =/= CPA in America.

*- My uncle runs a large business in Malaysia and he employed an Australian CPA. For a country where uni graduates in Big4 earn around RM2000 a month (approx $700aud), he pays his CPA from Australia RM8000 per month plus condo (in the same building where we live!) and car. The point is, CPA still has good international prospects, but I think when they say international recognition, in countries like say Britain or America, you may need to undertake some form of bridging course or refresher course to update you to local standards.

 

[Sumthing]

My guess is that CPA wouldn't see it as a problem.

http://www.accounting.unsw.edu.au/n...leArea&maxWnd=_Future_ProfessionalRecognition

Note. ECON1203 is compulsary for a COMM degree.
And also;

Associate membership of CPA Australia requires an accredited undergraduate degree with a major in accounting and in the case of UNSW, the completion of the courses listed below.
Required Courses

ACCT2522 Management Accounting: Process Improvement and Innovation


ACCT2542 Corporate Financial Reporting and Analysis


ACCT3563 Issues in Financial Reporting and Analysis; or

ACCT3573 Issues in Financial Reporting and Analysis (Honours)


ACCT3583 Stakeholder Value Management; or

ACCT3593 Stakeholder Value Management (Honours)


*ACCT3708 Auditing and Assurance Services; or

*ACCT3718 Auditing and Assurance Services (Honours)


FINS1613 Business Finance


INFS1602 Computer Information Systems


LEGT1711 Legal Environment of Commerce


LEGT2721 Business Transactions


LEGT2741 Business Entities


*LEGT2751 Business Taxation

* It is no longer mandatory to include ACCT3708 (or ACCT3718) and LEGT2751 but it is desirable to do so.


So as long as you can get your accting major, and complete those required courses for CPA - entry to their program should be fine.
Then again, always best to ask them directly as it can change.

Say if your doing a double major and the course program states 42 UOC for each major or 7 Subjects, Say to complete your Accounting major subjects from INFS and LEGT dont count right? You must complete 7 subjects under ACCT? If thats the case wouldn't it take you over 3 years to complete your degree that has a double major and meet either CA or CPA requirements?

 

[mojako]

u only need 5 extra accounting subjects in addition to the 2 accounting core subjects.. so u can use the leftover for infs and fins
also u have 4 free options... use that for legt's

 

[dum_di_dum]

Sorry for dredging up old posts but I had a sudden urge to start planning my career and I came upon this thread.

As Sumthing says, I think if you are doing a double major (say accounting/finance) and you try doing:

All the prequisites for both CPA/CA
+ Remaining units in accounting/finance majors
+ Core subjects for first year
+ 12 UOC geneds

You will end up with 150 UOC which is 6 more than the 3 year B Comm degree allows. Is there any way to squeeze in this extra 6 units during the 3 years and still have it count towards your degree? Maybe by overloading?

 

[volition]

Is that including the INFS one? I think INFS is optional

 

[redruM]

My take on CPA/CA is that you generally will be told to do either of the two programs by who you work for.

As mentioned, Big 4/mid tier firms prefer CA. It is recognised more internationally (I think in the Pacific region and SE Asia, CPA is still held in regard). This is seen by when they allow secondments basically after you have your CA.
CPA's are more predominant in commerce/industry (accounting dept.'s of companies). Such companies are generally Australian based or have their grounding in Australia.

Both are great qualifications. It really depends if you want to work for a professional firm or in commerce.

Just as a side note, even "CA Firms" prefer CPA modules. I know that Ferrier Hodgson, a mid-tier Insolvency and Forensic Accounting firm gets its graduates to undertake the Insolvency module by CPA. People working in the Tax divisions also undertake the Master of Tax. The CA qualification isn't by anymeans THE qualification, just a pretty good one.

 

[dum_di_dum]

INFS is included; it's optional for CA, but compulsory for CPA. thanks for the advice redrum

 

[Smorter]

Hi I thought I'd add my 2c on CA vs. CPA.

Although most people consider the CA designation to be more prestigious than the CPA designation, its not always the case. It can be argued they serve slightly different purposes.

CAs are more suited towards the highly technical Public Practice activities like Auditing, Technical Accounting and Insolvency/Corporate Recovery. The nation's top Auditors and Liquidators are all CAs.

CPAs seem more suited towards general business, and there is less of an emphasis on Technical Accounting. Having said that though the smaller Public Practice firms tend to be CPA firms, for reasons I don't understand. So some people contentiously argue that CPA = small end of town. (which is ridiculous but anyway...). Anyway, CPAs are in no way inferior and many prominent business leaders are CPAs. For instance both the CEO (chief executive officer) and Chairman and Chief Financial Officer (CFO) of Australia's largest company, BHP Billiton are CPAs.

In contrast, there are few CPAs (unless they are dual CAs and CPAs) who are Big 4 Partners. Although they force their Accountings Grads to take the CA program due to its more technical content there is another reason why Big 4 Firms choose the CA over the CPA in Australia. Big 4 Firms in Commonwealth Countries are "Chartered Accounting Firms" because when they started up 100s of years ago back England, there was no such thing as CPAs or CCAs or CMAs etc only Chartered Accountants, who were constituted under a Royal Charter. So basically its just tradition.

I just realised I've waffled on. Basic summary of the all the above nonsense is CA is not > CPA, and if I were you, I'd just do both. Once you've done the CA you only have to do like the 2 subjects (Business Strategy and Professionalism I think) for the CPA to get it.

Edit: I read somewhere that you don't have to have done Tax Law in Uni despite it being on the Accreditation guidelines. If you don't you have to do the Tax module. I'm not sure on this though cause I can't seem to find the source but if anyone can confirm that would be cool.