Surprise of Fate!

Fate is defined as clearance of something unavoidable to a person. You can call it fortune or destiny. In Arabic this is called ‘Takdir’. As a Muslim, I believe in fate. I also believe that it is possible to change your fate if you work for it. I always try to shape my own destiny. But it is not possible for anyone to shape his entire destiny. There are some times when things go out of your hand and you have to relay on mercy of Almighty. Things might go for better or worse for you. But you have to be patient and believe on the act of almighty.

When I was little, I selected Chartered Accountant (CA) as my aim in life. Why I selected that aim is another story. My be I will tell you another time. When I set my aim in life to be a CA, I had very little knowledge about it. I didn’t even know what a CA does. So when I had to write essay about ‘my aim in life’, I never could write that I want to be a CA. I always used to write that I want to be a doctor and I want to help poor, bla bla bla. That’s because I didn’t have any clue and I was shy to ask other about the ‘thing’ I want to be but have no idea.

When I was in Class 9, I was asked to choose a Study route. At that time, 3 alternatives were available: Science, Business Studies and Humanities. Most of my family members and relatives have studied science background. I also loved science but I used to find chemistry very hard. At that time, someone suggested me that if I want to be a CA, then I should select Business Studies and Study Accounting. I couldn’t recall the person or his his name. But I followed his suggestion and selected business studies as my study route. I studied accounting very hard. At the beginning, it seemed weird and funny. I could never understand the reason I have to go through all those hardship to make a trial balance. But with time, I cracked accounting and started loving it. In fact I started to get highest marks in accounting. Then I passed school and college but kept my dream of being CA alive.

After passing school & college, I went to a reputed CA firm along with one of friend to learn about CA and admission process. We just completed our college education and didn’t have much of clue about corporate attire. We were wearing casual attire at the day we visited that CA firm. When we entered the CA firm, we found someone passing by. We asked him that if he could give us some time to share knowledge about CA and admission process. The person looked at our attire and burst with anger. He insulted for not wearing corporate attire and told us that we were not the type to study CA. We should seek for some firms which allows such audacity. After all the hard talk, he told us to get out of the firm. We felt so much insulted that we could not stay bit more. After getting out of the firm, we two made our life decisions. My friend, who was also interested to be a CA, decided not study CA where as I became more passionate to be CA. I wanted so much to prove him wrong. It was my way to taking revenge.

At the very beginning of my graduation, I decided to select Accounting & Finance as my major. My university provided ‘Accounting & Finance’ as single major. At the second semester, I was introduced to Marketing and Finance. I studied marketing on small scale during my college education. But during my undergrad, I got the complete picture of marketing. I fall in love with both accounting & finance. After couple of semester, I decided to pursue double major and i selected Marketing as my second major. For some reason, I found myself scoring high in marketing instead of Accounting and Finance. In the middle of my graduation, I left my dream of becoming CA and made my new dream to be a Chartered Financial Analyst (CFA). I shifted more focus on Finance related subjects while pursuing my ‘Accounting & Finance’ major.

At the end of my graduation, I joined Eskayef Bangladesh Limited as ‘intern’. I was assigned under Mr. Razzaque Bhuiyan. He was manager of the accounts and a chartered accountant. There were several others who were from the CA background. I worked as intern in Eskayef for 3 months. During this time I learned many things which includes the roles & responsibilities of a CA, CA admission process, Corporate culture and the value of a professional degree. Mr. Razzaque (Razzaque vai) was caring and very much helpful during my entire internship. At the end of my internship, I requested Razzaque vai to help me to get admitted in a CA firm. He agreed to help me and but warned me that it might take some times.

After completing my graduation, I had to select my future objectives. But I had many options. Getting a job was a very lucrative and reasonable option. Almost all of my friends were getting into jobs with handsome amounts. I thought of getting into a job and help out my family financially. Then I came to know about ICMAB where I could obtain a professional degree besides my job. Some of my friends were getting admitted in ICMAB. I joined them and got into ICMAB. But I was not happy. I wanted to be CFA. So I looked into the CFA process. I found it bit difficult me for that level and expensive considering the family financials.

I skipped the CFA but reverted to CA. I discussed some of my friends and relatives. But most of them discouraged me indicating the poor success rate at CA. I sat down and wrote down all the pros and cons of all the options I found valid. But still I could not decide. So I discussed with my father and shared my concern that CFA will be expensive, getting a job means end of my dream to have a professional degree and admission in CA will make a family burden for another 3 years. At that time, I really thought that studying CA will make me a burden because I will not be able to contribute to my family rather I have to be dependent during the 3 year training period. Finally my parents suggested me to pursue my childhood dream and assure me that they will provide necessary support (financially and mentally). I decided to study CA.

Soon after deciding to study CA, I joined in A. Qasem & Co. for 3 year training with the help of  Razzaque vai. I still could remember the first day at AQC. My seniors introduced me to different rules, policy and practice. At first, I feld captive at the firm. I didn’t know many. I had to obey my seniors, managers and partners. I had to be conscious about my actions to that it doesn’t violate any disciplinary actions. Started to count days. I decided not to stay at firm for more than a day after the end of my training period. I can remember crossing dates in calendar at the evening each day.

But after several months, I got used to with the firm environment, rules and practice. With time, I came to know all the persons in the firm and got along. I was having different amazing experiences at firm and audit clients. I started loving the firm. I didn’t have much time for my relatives or friends. I had to focus on my study, exams and the auditing activities in firm. I made some friends and got some excellent seniors in the firm and with their help introduced many changes in audit procedures. Our initiatives were appreciated and with time we got the chance to lead the audit teams.

Things became much more interesting when I completed 2nd out of 3 levels of professional exams. I had different opportunities and experiences which are very rare for CA students even in my firm. It became more interesting when the firm became a member or Ernst & Young Global (EY). I was so busy with audit and my study that I forgot to cross out the dates in calendar. Soon I found out that I have competed the training period. After my training period, I got some lucrative job offers. But I decided to remain in the firm until I became a CA. Fate didn’t disappoint me. Within couple of month, I became a CA and now it has been almost a year. After completing CA, I had couple of job offers. But I didn’t like the idea of leaving the firm. Surprisingly enough, I found myself more attached to the firm than I realized. I found myself enjoying seriously flexibility in my works which I will not get in the corporate world and I’m feel happy for the things I do.

It’s nothing but surprise of the fate that I came this far. I aimed for something I don’t know about, I changed my objective but came back to it. I was discouraged to pursue my dream then again I got numerous opportunities and help from countless people while pursing my dream. I had hardship but I had the opportunity to learn how to enjoy it. It’s a surprise alright. It’s nothing but blessing of Almighty. I don’t know what fate has for me in the future but I plant to shape my  own future. I know almighty helps who tries. I am sure I will have the blessings of the Almighty. If things does not go well for you, keep trust on the Almighty. Fate sure will bring a surprise for you.

CA after HSC: Pros & Cons

It’s very exciting to see more and more people are getting interested to study CA. In recent years number of CA students has increased significantly. Graduates from Private universities were not that much interested to study CA but now trend has changed. Private university graduates are getting more interested to study CA. At the same pace students after passing HSC are also getting interested to study CA. Recently i was asked by several HSC qualifier regarding options and benefits of studying CA after HSC. Here are some Pros and Cons of Studying CA after HSC. Kindly note that these are my thoughts and may not be applicable for everyone.

Pros:

1. You can skip four year bachelor and start for CA right away. You don’t have to wait 4 years to study CA.
2. If you pass CA, you will become a Chartered Accountant and step into the professionals’ world. You will be treated almost equally to any other Chartered Accountants.
3. You will have more stamina to study then others.
4. If you work hard, you can overcome your weakness. If you focus and try hard to understand the underlying concepts, your study will be easy.

Cons:

1. You have to undergo 4 years of articleship instead of 3 years.
2. In CA, there is no option to get a Bachelor degree (like ACCA’s OBU).
3. If you fail to pass CA, your educational qualification will remain as HSC qualifier. In that case, you may have to start over for graduations.
4. As you skip graduation, you will also skip some basics which are taught during graduation. So things might be little hard for you to understand. For that reason you might need more time to pass compared to others.
5. Other student might think less of you and their words might demotivate you.
6. CA firms doesn’t pay much. So you might have to face financial problem. You will need to learn money management.
7. In CA you have to work full time like an employee. You have to manage your own time to study. It will not be same as studying for graduation when you will have plenty of time as a full time student.

 As I see it, CA after HSC has more Cons than that of Pros. For that reason I suggest most of the person to aim for CA after graduation. But than again, it’s my own point of view. If you are really confident enough, have determination and courage to take the challenge you can start CA after HSC. Just to let you know that becoming a Chartered Accountant after HSC is possible. There are several Chartered Accountants who started CA after HSC and successfully completed it.

Take your decision wisely and stick to it. No matter what don’t be distracted and demotivated. Have courage and go the challenge. Success will be yours!

In you need more information regarding CA, please visit http://wp.me/pYIrh-tg

Living in reality & Going beyond expectation

In our childhood we have learned the proverb that ‘Time and Tide wait for none’. This had been part of our study text in order to teach us that time is limited and immeasurably valuable. From this childhood education, I’ve learned that time is short and time management is very much important. Until now, I have not been realized how important time management is. I had busy schedule before but not to the extent I had been till yesterday. I was so much stressed and I had slept less that 5 hour per day. Several times I’ve wished that there were 48 hours in a day instead of 24 hours.

Since yesterday I had been busy with my MBA semester finals, projects and hand written assignments. I had to do all these after my office hours. It was so tiring. The whole semester was like this. Although Friday is my weekly holiday but I had MBA classes on Fridays. That means I practically didn’t have weekend for the semester which is equal to almost 4 months. In this semester I had two teachers who loves taking extra long classes and makeup classes without missing a single class. Sometimes it was so boring and tiring that I felt dizzy and sleepy in the class. I already developed habit of sleeping in the bus but in this semester I have developed the ability to sleep in anywhere. I have slept several time in rickshaw. I think you might get the idea how tiresome this semester was. But gladly the tiring semester have come to the end. My semester final exam are now over.

I am hoping to attend the upcoming August 2015 exam of ICMAB. From April 2015, I was planning to take full preparation for my ‘Advanced Financial Accounting – I (AFA-I)‘ course at ICMAB. However, I couldn’t.  I was busy with my Advanced Stage exam conducted by ICAB. Later I got busy with MBA exams, projects, presentations and term papers. I couldn’t’ manage time to take preparation for ICMAB exams. This is when I realized that time management are very much necessary. I have tried my level best to manage proper time for each and every necessary activities which left me tired and stressed.

However, sun shines after the rain. While I was passing my toughest time during the year, I received a good news. Last week ICAB have published its May-June 2015 exam result. The result showed me that I have passed the CA advanced stage. Advanced Stage is the final level of CA exams. There are four subjects of this exams. Passing the advance stage means qualifying as a Chartered Accountants and becoming eligible for the membership of The Institution of Chartered Accountants of Bangladesh (ICAB). As I have passed the advanced stage, now I have become a Chartered Accountant and eligible to be a member of ICAB.

This was my first attempt in advanced stage exams. I didn’t really expect to pass all four subjects in on attempt.  I required two attempts for both the Knowledge level and the Application level. So I was sure that I will take at least two attempts to pass the advanced stage. Moreover, I knew that passing the final level is very hard and there are many brilliant students who are struggling to pass this level. Compared to them I’m nothing and my exams were not that good to pass all four. So when the result came out, I was shocked and surprised. At first I thought there might be en error or I have seen wrong. But later I was made sure that I have really passed the CA final stage. It was way beyond my expectations and seemed like a dream.

When I started CA, my aim was to pass at least two level of ICAB exams and appear at least once for the final level of exam before I complete my CA articleship (CACC). Alhamdulillah I was able to achieve this target. When I achieved this target, I felt aimless and felt there is nothing left to do. I was getting demotivated. So I had set a new aim to pass the CA advanced stage at the first attempt. I also had the target to pass without paying any annual fee which was applicable for CA students who have completed their articleship. With the blessings of Allah, the most merciful and gracious, I have achieved that target .

Moments after passing CA seemed different than ever. I was unsure with my result while others were congratulating me. I was not sure what to say or how to act. But I was appropriated by my family, relatives, friends, colleagues, partners and senior partners of the A. Qasem & Co. After passing my CA exams, I have been promoted to Manager of Audit & Assurance service from the position of Assistant Manager. I have also been  assigned with a new room at A. Qasem & Co. I’ve received many advises from my senior colleagues. This sort of experiences are new to me. I’m really enjoying these experiences. However, there is nothing that can change who I am. I will remain the same old me.

Life is weird!

Life is weird! You don’t know what fate have for you. One moment you are all set and ready to go and next moment you are totally unprepared. On day you are controlling your life and next day life is controlling you. You make plan for your life and life has another plan for you. Life happens everyday. What I am saying is life is total uncertain and full of unexpected elements. This is what the beauty or the horror of the life. What life decided you, you should follow it unless you can create your own path.

You might wonder why I am being philosophical. The reasons behind these are the turn of events happened, happening and going to happen in my life. If you read my earlier blog post, you will see that I attended a app developing training at Microsoft Bangladesh. I planned to continue to develop my app making skill and participate in their app building tournament. However, that remains a plan and never tried for.

You may know that I am a training chartered accountant undergoing my training at a prominent Chartered Accountant firm named A. Qasem & Co which have became a member firm of Ernst & Young, one of the big four firm in the world, in January 2015. My training period will end at June 2015. I was planning to get a job after the training period. But I didn’t start searching for job because my CA exam result was pending. I was thinking of applying for jobs right after the result. When result was published, I found out that I have passed the 2nd out of 3 level of CA under ICAB. That means I have passed total of 14 subjects out of 18 subjects. Which means I am 4 subject away to achieve my first professional degree and become a chartered accountant. So I decided not to look for jobs but to concentrate on my study till the training period ends. By that time I will attend the CA final level exam.

Right after passing the CA Application level, I got admitted for the final level which in known as Advanced Stage. My classes begun on the 01 March and continuing everyday. It became a problem for me as it was overlapping with my MBA class schedule. Now I am trying to balance both sides and making a clear way out of the situation. In my current situation, I have to attend classes 7 days a week which will be 26 hours in a week. This making my life bitter day by day. I don’t have time to rest enough or to plan and self-study. However, it will end soon and I hope to finish my study and take adequate preparation before the exam. When I started my CA articleship, my target was to pass at least 2 level and appear one exam of final level before I finish my articleship. I have achieved my target and now made a new target to achieve. Now I want to complete the final level in one sitting. I know it will be hard but I will do it, In Sha Allah.

On the other note, my CMA result was published few days ago. It showed me that I have completed my level-1 exam and fit for admission in the level-3. I was 1 subject away from completing level 1. It took me 8 attempts to pass that subject. I wasn’t sure that I will pass the subject in this attempt. But life loves to make surprise. I passed and moved to the 3rd level. Right now I am 1 subject away from completing my level-2. I am hoping to finish it by April and start the 4th and the final level in this year.

In the vary beginning of this post, I wrote that life is full of unexpected events. You see, I was so tensed with result and getting a decent job with decent salary. Just with the result, life created a new turn of event and made me decide to study more. I was confused and it have shown me a way out. I was enjoying the life and now it have put me under pressure. I don’t mind the pressure as long as it helps me to achieve my goal.

All information about studying CA in Bangladesh.

There are many students who are willing to study CA but don’t know any information about it. Many approached me for enrollment information in CA. So I thought it would be better if I put here for everyone.

Intro:

CA is a professional degree in financial accounting. Here you have to understand the difference between academic and professional degree. Those who complete CA receives ACA degree initially and with time and following requirement, they become FCA. In Bangladesh, ACA degree is offered by Institution of Chartered Accountants of Bangladesh (ICAB). There is two parts of CA study which have to be done simultaneously. First part is theoretical part and second part is practical part. In theoretical part, a student have to appear on exams on several papers depending on which level he is in. Under the current syllabus, there are 3 level containing total of 18 subjects. On other part, the practical part, a student have to undergo 2 to 4 years of practice as article student. Years of articleship depends on the academic level completed earlier. ICAB website is referred for details in this context.

Entry Requirement:

Entry requirement in CA is determined by ICAB is published in ICAB website. You can see the requirement in details in the this link (ENTRY REQUIREMENT). Students completing HSC or A level can also enroll in CA.

Starting CA:

A student have to start with practical part. For that, he/she has to join in a CA firm and get registered with ICAB. Registration can be availed after probation period of the firm he/she has joined. Articleship starts from the date of registration. At the time of registration, a student have to enter in a tri-party contract. Three parties are student his/herself, the firm and ICAB.

Study and Exams:

A student can appear on exams of theoretical part after completing 10 months of articleship period. Exams are held two time a year during June and December. A student can sit for exams sessions after completing 10 months of  articleship. There are total 3 level in theoretical part. Knowledge level, Application level and advance level. Knowledge and Application level consist of 7 subject each where advance level has only  4 subjects. A student starts in knowledge level and after passing all 7 subjects of knowledge level they move to application level. It is to be noted that student can’t attend exams from two level in one session. At present student have 10 attempts to complete both knowledge level and  application level. For advance level students will get 6 attempts. Each session of exam is counted as an attempt whether a student appears in the exam or not. If levels are not completed within the mentioned number of attempts, all passes in that level will be nullified and student have to start over from the same level. Students don’t have to pass all 7 or 4 subjects at a time rather they can pass paper by paper.

Costs:

there are no cost when student joins in a CA firm. However, student have to pay taka 30,000 at the time of registration in ICAB. there are no annual subscription fees. Student have to pay exam fee during each session in following manners taka 1300 per subject in knowledge level, taka 3000 per subject in application level and taka 5000 per subject except case study subject in advance level. Exam fee for case study is taka 10,000. Students have to pay for a one time coaching class in each level. Coaching class fee is added with registration fee for.knowledge level. However coaching class fee for application level is taka 15,000 and taka 15,000 for advance level except case study, taka 25,000 for advance stage case study.
In CA, not only students pays but students also get paid. CA firms pays there students allowances per month depending on their firm policy. however this amount can’t be less the amount determined by ICAB. At present ICAB have fixed allowance as tk 3,000 per month for first year student. tk 3,500 per month for second year student, tk 4,000 per month for third year student and tk 4,500 per month for fourth year students.

Achieving Degree:

When a student successfully completes articleship, he achieves CA(CC) title.  CA(CC) means CA course complete. It is earned even if no subject is passed in theoretical part. A student have to complete both practical part and theoretical part in order to pass CA course and achieve ACA degree. ACA means Associate Chartered Accountants and is a person who have successfully passed CA course. When a person become an ACA, he/she may apply for membership in ICAB.

I believe these are the basic information prospective students needs to know of they are interested in studying CA in Bangladesh. If any more information is required, you can leave comment or contact with ICAB for more details.

Redwan.