Hello guys. It has be a while since I update my blog. It has
be a busy holiday. I really enjoyed myself procrastinating; playing video
games, surfing Internet, scrolling social media.
I’m going to share about ICAEW(Institute of Chartered Accountants in England and Wales) and CFA(Chartered Financial Analyst). For your
information, I am not taking those courses, so there might be inaccurate and
missing facts. But I tried to keep it as accurate as I can la.
I don’t know where I should start. Okay. Let we start from
the holiday.
Going back early
When I was having my holiday, suddenly I became addicted
with my phone. I stuck with my hand all the time, as if there was glue that
keep it together. So, someone retweeted a tweet in my Timeline that there is
CFA Summit in the upcoming weekend. But, since it requires me to prepare the CV
if I want to have a seat at the event, I decided to not to do so. Although I
kept wandering what is CFA is all about, so I just ignored the advert.
I volunteered myself to be part of the helpers during my
college open day. I had to back in Shah Alam earlier, since the event was held
on Saturday. Oh I don’t know why I volunteer for it, since I has option to stay
at home, eat nice foods, watching television.
Maybe the fact that my phone has problem on detecting telco
signal in rural areas has cause me to so. Enough with that.
‘Less’ expected moment
So on that day, I was assigned to take care of ICAEW booth.
At first, I was reluctant to do so. Firstly, I am not an ICAEW student, so I
know nothing to do so. I want to take care of ACCA booth, since I know about
it, and I have idea about it. Or, at least, just give me la to take care of
IPAC booth. Secondly, the booth was at the end of exhibition, at quite
isolated. I gambled that it would not be able to attract even single visitor.
Thirdly, the booth is too simple. But, the answer is no, and I have to take
care of the booth.
So, I was told that there would be 2 abang from ICAEW that
will assist in promoting the course later. It was Mr Andrew, a Chinese guy and
Mr Aman, an old but rock-styled Malay man from ICAEW that came on that day.
Brainwash Session
In a simpler word, for the whole day, I was mentally
tortured, or brainwashed, to take ICAEW in the future. At a certain point, I
thought of going back in time and take ICAEW instead of ACCA. I thought that I
took ACCA at first place as I only exposed about it. I made an inaccurate
decision which was due to lack of information.
But I learned something on that day. Sometimes, what people
are saying is not important. You should decide it by yourself. But first, in
order to make a reliable and true decision, you need to know all the option
available. Therefore, you need to extract and examine all information available
before you can make a decision. And hey, at least I get a little information about
ICAEW. If you are reading my blog, I would like to say thank you to Mr Aman and
Mr Andrew. This younger generation sometimes are too lazy to search for those
kind of information.
Make my CV
That night, I sat on the chair in my room. I clear my mind
and I spoke to myself, that I had the opportunity to get know what CFA is
about. I just need to submit the CV.
The dateline to submit the proposal was just less than an
hour more. I booted my laptop, open Word, google sample of simple CV, and email
the CV when it was just about 20 minutes before 12. I just hoped that the CV
would be accepted, and I would be given the seat for the event.
Why this post suddenly become serious?
Sunday, Monday, Tuesday has be past. No email from the
organiser. Maybe luck was not at my side this time.
On Wednesday morning, or afternoon, I realised that the
organiser has be replied my email, and fortunately, I got the seat for the
summit. Alhamdulillah! I was (not so) quite shocked that Redza Minhat would be
a moderator for the Roundtable Discussion. Wow.
For me, he is one of the role model among of Malaysia
actors. He never fail in portraying the characters that he played. KIL, Kekasih
Elektrik are one of those movie and drama that he has previously act. He also
proves that, you can be anything you want, as long as you strive for it. He was
graduated from MMU with Degree in Business, but acts and write scripts in free
time. Two different separated bidang, but he managed to do that. Enough with
those biography.
Spectacles
On that day, I had no transport to go to the INTEKMA. So, I
asked help for my housemate’s help to send me there. He sent me there by
motorcycle.
After that, I registered at the receptionist counter, and
had the breakfast. When I was enjoying the nasi goreng, I felt like there was
sensation of pain at my left head, and it make me uncomfortable. I thought I
wore the spectacles improperly, so I put off my spectacles and wore it back so
that it would fit to my head. But then, I realised, it was broken! Maybe it was
broke during I put off the helmet, I guessed.
You had serve me the best duty for about 4 years. Rest in
peace, Spec.
Forum
The event started about 9.15, when the MC began their
welcoming speech. Then there were series of speeches, certificate award and photograph
sessions. Around 11.45, there was Roundtable Discussion with the panellists,
when Redza was the moderator.
Well, I hoped that I got the chance to take some pictures
with him. But, he was already gone during the lunch session. I was quite
disappointed. I thought of making my first vlog for it.
After the lunch session, there was talk session which I had
forget what it was. Damn.
What I got from the summit? Info about CFA, CFA is hard,
free food, broken spec, and networking.
ICAEW and CFA
ICAEW has higher standard in qualifications and more recognised
globally. But of course, they have tougher questions. When ACCA’s questions are
more to technical skills, ICAEW is more to solving the case study given.
There
are 3 level of ICAEW-Certificate (ICAEW CFAB), Professional and Advance level.
Both Certificate and Professional level has about 6 papers to be taken, and 3
papers in Advance level. However, students mostly will take those papers when
working.
Meanwhile, CFA is for those who are strong-hearted. Most of
the students are pursuing their study by part-time. You work during weekdays,
and you have to attend classes during weekend.
You might sacrifice your leisure
time during weekend with your friends, not attend your cousins’ wedding
ceremony, sleep less than 4 hours a day, to catch up and study 7000 pages of
learning materials. There are also lot
of complex formulas to be memorised.
There are 3 level of examination- Level 1, Level 2 and Level
3.
Level 1 Examinations consist of basic knowledge and
comprehension questions focused on investment tools.
Level 2 Examinations test your analysis skills and focus on
valuing the assets.
Level 3 Examinations test how you apply the standards in a
portfolio management and compliance context.
Well, for ACCA students, you may pursue your study in CFA,
but first you have to complete your ACCA first. CFA set the requirement that
the holders should have at least 4 years working experience. Therefore, you
should work first, like 1-2 years, before you start study the course.
In my opinion, CFA is a little bit different compared to
ACCA. When ACCA affiliates works in tax, audit and finance sectors, CFA’s
holders work in finance sectors. CFA’s syllabus is more on how to manage the
funding provided in the company.
During the summit, most of the students who attended the
event are pursuing in Degree in Actuarial Science. Some of them are from
Finance, and Maths. But I could say, none of them that I met, are studying
accountancy.
I personally might consider to take either ICAEW or CFA in
the future, maybe. I don’t know, since I learned accounting and tax before, so
I prefer to take ICAEW in the future. They have quite similar syllabus with
ACCA. But, pursuing your career in Finance sector, is quite interesting. This sector
has lots of potential and job opportunities to be filled.
This got to only happen if I have enough source of finance
during that time.Heh.
For further information, you may surf those website:
ICAEW: https://www.icaew.com/
IPAC Education: http://www.intec.edu.my/main/index.php/professional-accountancy
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