HE LIKES ACCOUNTING, BUT FEARS ICAN

Hi.

I’m Faith, 24+ years old. I came across your blog while going through Nairaland on issues relating to ICAN.  I’m an Accounting graduate of UNIPORT, I came out with a 2.1 (4.05/5) in 2013, I’ve completed my NYSC and I’m currently teaching Accounting in a Secondary School.

I have this passion for teaching basically at the tertiary level. It’s always been my dream. But somehow, I’ve always had this fear of ICAN exams. I made up my mind to start this November but the syllabus has been changed so I don’t even
know what to expect. I’m a brilliant lady but it’s like I’ll just take 2 papers as ‘testing’. Any suggestions?

Another issue is this: I want to go for my MSc in UNICAL while working as a graduate assistant there. Is it really necessary to go into the corporate world before I start lecturing?

Thanks!

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Dear Faith,

First, 4.05 is a good CGPA. Shows you are good.

Second, it is good to teach. I enjoy teaching too. There are few things more fulfilling than imparting knowledge.

As for ICAN, you don’t have to fear. If you worked your way to graduating with a CGPA of 4.05/5 (which translates to an average of B in every course), then you have nothing to fear about about ICAN.

Teaching will even make it easy. People that teach tend to remember things more esily and are kept in academic form all year round. The past questions are still relevant, despite change in syllabus, because the principle of debit and credit has not changed. Just go get the syllabus, take each and every topic and study. While it is good to do, you don’t have to answer all the questions in an exams to pass. When I wrote my Management Accounting paper while writing ICAN, I did not even even touch a whole question (the mandatory question) of 15 marks, yet I passed that paper. I have same experience in a couple of subjects including FA. So shake off your fears. I have a friend that was so scared on ICAN in 2009 that he was almost “shitting” in his trousers. His first attempt, he failed all but one paper. He kept trying, today he has qualified. So, fear not.

Don’t take two papers, take all the four papers. You never can tell which one you’re going to pass. Never underestimate the power of residual knowledge. Even the subject you least expect to pass may be the one you will pass – and never rule out passing all the four at single attempt.  Sometimes, professional exam bodies “serve into candidate’s hands”.

On Msc, since you like teaching, start your MSc in UNICAL as planned and see if you can get graduate assistantship opportunity. While doing that, combine with ICAN. After all, they are complementary – similar courses.

Between industry and lecturing, I will say lecturing is surer, and it is not compulsory you start from corporate world. Thankfully, you have passion for it too. So, make it your top priority. However, still throw your CV around, especially in these audit firms – PwC, KPMG, Deloitte and Ernst & Young. They don’t require ICAN as a prerequisite. You have solid 2.1, you appear to be sound, and you’re still young (below 26 – some of them put entry level cut off at 26 years).

Whichever comes first, go for it. But in the meantime, face your ICAN studies and enroll for Msc in UNICAL.

Regards

Jarus