Chartered Accountant || Financial Analyst 8yrs + Exp || Financial Reporting Expert || Top Business Strategist - Helping Organizations achieve their goals through the right strategies 🎯|| Professional Tutor
This is one thing many ICAN students still don't realise about ICAN. As someone who has lectured every course in the ICAN professional examinations over the past five years. Yes, you read that correctly. There is not a single ICAN professional examination course that I have not lectured at some point, although I do have areas of specialization. Over the years, this experience has led me to understand something that many students often do not realise. Walk with me please, this is not an examination success tip, let's get a bit practical. The ICAN examination is structured in a way that is not competency-based. It is important to note that there are several other professional bodies in Accounting / Finance that are also not competency-based. What do I mean by "competency-based"? In simple terms, your competency refers to your area of focus or core discipline. However, stating that ICAN is not competency-based means that ICAN does not focus on training students in only one specific area. This is why, as a Chartered Accountant, you would have taken some unrelated courses on your path to becoming an ACA. This is precisely my point, many students do not fully leverage the fact that ICAN exams are not competency-based. ICAN not being competency-based provides an opportunity for self-discovery. It allows individuals to discern their strengths and interests, aiding in determining their professional trajectory. Utilizing this will greatly impact the trajectory of your career in a positive manner. Although I was working in the public sector, I discovered I'd a knack for SFM, no matter how tired I was, I would always be charged while in SFM classes. While I had a specific mission within the public sector, the non-competency-based nature of ICAN provided an alternative path for exploration. I began to delve deeper into the realm of finance, acquiring relevant skills along the way. This wouldn't have been possible if ICAN had simply narrowed their syllabus down to one of these : Auditing, Financial Reporting, Public Sector Accounting, Management Accounting or even Taxation. My message is straightforward, utilize the non-competency-based nature of ICAN to explore and discover your strengths and interests. If you've leveraged this, kindly share your experience in the comments. Cheers 🥂
Monica Jiechie
3mo
What a mind opening post 👏 I wrote my final papers this last diet and I recall very vividly that while preparing for the exams, I didn't easily get brain drained when studying SFM compared to other courses. Same goes for CSME in skills level. I loved reading those two courses even though SFM was quite a tough one. As a Mathematics and Economics graduate, I could tell from my experience that Finance is my calling 😄
Christabel Otubu
3mo
If i understand clearly what u have written about non-competency based, then i can go ahead and say that u mean we should read all parts of an ican subject i know quite well that this is good, base on the fact that it will make we ICAN students explore all areas i too have come to that understanding having written the exam november last year and may this year But what has been a major set back with this method is that it is more bulky to read all parts of the textbook and digesting it before the exam. Remember this should be done for all subjects to be written For instance, the last may diet , my friend who just started writing it complained bitterly that she focused on the hard part which she taught would come out only to see the easy part she never taught of It is really stressing carrying everything into just one head but God will help us David Shonibare (ACA, ACTI) thank u for this information
This is very relatable. During the last diet, I had an interest which was basically investment valuation, business valuation and the likes. A good part of this story is that I further realized how that became my strength over financial reporting. Also, my tutorial centre pioneer emphasized how every job in Accounting and Finance stems from a similar baseline which is been a Chartered Accountant. Even Auditors are Chartered Accountants. The ultimate priority is to discover your strength and how you can leverage to make impact in the Finance and Economic landscape, locally and internationally.
This is such an insightful post. i can make sense of this within the two diet that i have been privilege to enter the exam hall. As an Economics graduate, i think i have heard alot about PM & SFM and i am looking forward to taken them. Going by the papers have writing in the first and second stage, i think i love Financial Reporting.
Thanks for sharing sir. But please how do i leverage on my non competence area though every stage of the level is kind of interesting
Nice one bro. Naturally, as a chartered accountant, one would naturally gravitate towards the numbers-related courses (SFM, CR,FR,PM,PSAF,TAX). ICAN helped me discover that I could also do well lecturing CSME! Thanks for sharing David Shonibare (ACA, ACTI)
Absolutely love this. On point. Someone asked my earlier this week to provide a guidance on choosing a line in accounting. I referred her back to her I CAN exams to identify which of the papers she finds easy or which excites her most. The vast nature of the exams is intentional and a very good idea. Kudos Boss!!
Doreen Tam
3mo
I agree 💯
It’s the depth you would have enjoyed having lectured those courses. Keep impacting David Shonibare (ACA, ACTI) 👏
Banking Professional/Chartered Accountant/Chartered Tax Practitioner/Forensic Accountant/Internal Auditing
3moWhen I was writing the professional exams of The Institute of Chartered Accountants, Ghana (ICAG), one particular paper, principles of Taxation gave me a tough time. I failed it twice, then I realized that I was adopting a wrong approach in learning the course. I realized that Taxation is simply about Laws and not about learning and solving past questions. I changed my style and passed the next sitting with very high marks. When I got to the final level I passed Taxation in one sitting. I realized I developed some interest in Taxation. So I registered for the Chartered Institute of Taxation Ghana exams. In just two months I was able to learn and pass the final one exams in one sitting, then wrote the final two exams in February 2024 and passed all at a goal, which is not so common. I'm graduating on 15th June 2024 as a Chartered Tax Advisor.