Nothing can be famous in Pakistan without conspiracies, and the same goes for CA. There are so many misconceptions about CA in Pakistan that make a CA student want to bang their head on the wall; believe me, this is not an exaggeration!
So what are these common misconceptions about CA in Pakistan? Let’s dive into them.
You Are Doing CA For Money
The most common misconception about CA students is that they are doing it for money. This might be true as it is the job that pays very well but believing that the only reason the person went for CA is that they are crazy for money is not correct. A very wrong misconception is that CA students are money hungry and are in it for wealth rather than sheer pleasure.
CA Students Have No Social Life
While it is true that CA demands a lot of hard work and effort from the student, it is not necessarily true that CA students have no social life. It’s all about balancing your social life with your studies. If you plan your day accordingly and give your studies time, it is not hard to maintain your social life.
Completing CA Requires Lifetime
Most people believe that a student spends his entire life trying to pass the CA exam. This is not true as many people complete their CA in less than five years, which is the same amount of time as required in medical. But when it comes to CA, people start stressing over the years.
CA And ACCA are the Same
Chartered Accounting and Chartered Certified Accountant are two different qualifications. ACCA is a global professional accounting body, with the headquarters being in London. In ACCA, you have to clear 14 exams, while you have to complete 21 exams for CA. It is not right to compare these two together, as both are equally good and offer work mobility. However, people assume ACCA to be better than CA as it is an international qualification.
But the truth is both degrees are highly respected and recognized internationally.
CA is Not For Women
The most ridiculous misconception out of all is believing that CA is not a good field for women. Pakistan is a growing country and offers immense potential for women. Many people believe that women can not be good accountants, this is not true. In fact, many high achieving female accountants are excelling in their area.
CA is Not For an Average Student
An average candidate can easily become a Chartered Accountant if he puts in the effort. You don’t have to be intelligent to clear your CA in Pakistan. You just have to be hardworking and dedicated to your studies.
ICAP Purposely Fail Students
This is not correct, as ICAP doesn’t purposely fail any student. You fail because you did not put in much effort. ICAP is a highly respected institute committed to its cause. They are very honest with their marking.
While CA is hard and it’s common to fail at the first attempt, it is not necessarily true that you can not pass at your first attempt. Nothing is impossible if you aim for it. Many dedicated and hard-working students clear their exams on the first attempt.
You Have To Be A Math Genius
There is a myth that you have to be a math and spreadsheet genius to become a chartered accountant, but that is what it is, a myth. You can easily learn it by taking tuitions and lectures.
You don’t have to be an inborn genius for that.
CA Profession is Only for Commerce Students
It is a widespread misconception that only commerce students can go for CA. The truth is that anyone can enroll themselves for CA and qualify at all four levels of CA in Pakistan.
CA is For Losers
Because of easy admission criteria, people believe that only below-average students apply for CA. This isn’t true. The admission criteria are easy because fewer students can efficiently complete their CA. By imposing strict admission criteria, fewer students will apply for CA, decreasing the number of graduates.