bankruptcy in Toronto

[murtazajaffri_cca]

Hey,

as per law i will bring the settlement funds required by CIC.

I will try to find a job asap. but what happens if i do not get a job and my funds exhaust? Do i have to go back home, or ask for more money from original homeland?

Or Govt of Canada will help in my living?

 

[PMM]

HI

Hey,
or
as per law i will bring the settlement funds required by CIC.

I will try to find a job asap. but what happens if i do not get a job and my funds exhaust? Do i have to go back home, or ask for more money from original homeland?

Or Govt of Canada will help in my living?

1, Either bring more money from home, or you could apply for welfare, but in most provinces it would about $700 or less per month,

 

[karankullar]

Hey,

as per law i will bring the settlement funds required by CIC.

I will try to find a job asap. but what happens if i do not get a job and my funds exhaust? Do i have to go back home, or ask for more money from original homeland?

Or Govt of Canada will help in my living?

Nobody would like to be in a situation like that, and fortunately, there are plenty of ways to avoid that.

I would like to begin by saying that Toronto is a city which is very close to of reaching it's saturation point, that's if it hasn't already happened. If you don't find a job in Toronto, I strongly suggest you move out of Toronto and go where the work is. Government does help you but make sure you understand the consequences of that. It will hinder you from sponsoring anybody in your family to come to Canada. Also, if you declare bankruptcy, that will haunt you for years to come. Hard to get credit cards, car loans, mortgages etc..

Secondly, there are plenty of trades and professions in Canada which are struggling to find enough workers. So, instead of going on welfare, I would get a less paying part-time job, put myself through school for a trade, technician or a technologist program and move to a city where there are jobs in that given field.

As a matter of fact, I am doing that right now. It is not easy but it is surely the high road. Hope that addresses your concerns. Take care and good luck!

 

[murtazajaffri_cca]

Thank you so much friends, by bankruptcy i didnt mean to declare it. what i mean was short of cash.

My point of concern is I am professional qualified with ample experience. But unfortunately I do not have canadian experience or qualification. Furthermore, I do not have a bachelor degree rather a professional certificate which is equivalent to 3 years bachelors in Canada.

Is it likely that I will face similar situation that wont get job and get out of cash in toronto?


Just planning for the worse.

 

[Leon]

Nobody can say for sure. I don't know what field your are in and even if I did, I probably would not have an idea if there is a shortage of people in that field and if employers will look beyond your lack of Canadian education and experience.

You just have to do your best. Try to stretch your funds right away in the beginning. Don't go extravagant on housing or furniture or buy an expensive car. Your funds will last longer and will give you more time to look for a job. If you see after a couple of months that you can't get a job in Toronto, start applying elsewhere. If you see you are running out of money, get a survival job.

 

[murtazajaffri_cca]

Nobody can say for sure. I don't know what field your are in and even if I did, I probably would not have an idea if there is a shortage of people in that field and if employers will look beyond your lack of Canadian education and experience.

You just have to do your best. Try to stretch your funds right away in the beginning. Don't go extravagant on housing or furniture or buy an expensive car. Your funds will last longer and will give you more time to look for a job. If you see after a couple of months that you can't get a job in Toronto, start applying elsewhere. If you see you are running out of money, get a survival job.

Thank you Leon for your reply. I am NOC 1111 - Internal Auditor with ACCA and CPA (Ireland) as my qualification.

I do not have a bachelor degree (neither international or Canadian) as I started ACCA after Alevels.

 

[next2015]

Thank you Leon for your reply. I am NOC 1111 - Internal Auditor with ACCA and CPA (Ireland) as my qualification.

I do not have a bachelor degree (neither international or Canadian) as I started ACCA after Alevels.

That in a way makes it a bit easier for you. My advice? First thing you should do is sit for a reciprocal exam, which if you pass gives you a CPA license in your preferred province. FYI - the accounting profession in Canada is undergoing changes. Previously, each province had its own regulatory body, currently all the bodies are in a process to form one body that regulates across the country. However, if you hold a designations such as ACCA or CPA issued in a country with which regulatory bodies in Canada have an MoU, you simply need to sit one exam to earn a license and CPA designation in Canada.

In addition to obtaining a CPA license, I strongly advise you consider pursuing an undergrad degree most probably in business (the options are many). The degree + the CPA designation will open many more doors for you. Even more doors will follow with an MBA. It all comes down to how far you want to go in your career. If you're comfortbale being at the same level until retirement... In fact, without the degree I'm not sure if you'll obtain the license (but that's subject to more research).

Here's info you'll find useful for Ontario: http://www.cpaontario.ca/Admissions/InternationallyTrainedAccountants/MemberAcctgBodyOutsideCanada/1010page13560.aspx

The good news is with your ACCA/CPA and experience, undergrad degree will be a breeze. In fact, you will be exempted from numerous classes, and may be graduate sooner than you think. I suggest you make inquiries with some schools. Note that you can begin the CPA process and school INQUIRIES before you land.

 

[murtazajaffri_cca]

That in a way makes it a bit easier for you. My advice? First thing you should do is sit for a reciprocal exam, which if you pass gives you a CPA license in your preferred province. FYI - the accounting profession in Canada is undergoing changes. Previously, each province had its own regulatory body, currently all the bodies are in a process to form one body that regulates across the country. However, if you hold a designations such as ACCA or CPA issued in a country with which regulatory bodies in Canada have an MoU, you simply need to sit one exam to earn a license and CPA designation in Canada.

In addition to obtaining a CPA license, I strongly advise you consider pursuing an undergrad degree most probably in business (the options are many). The degree + the CPA designation will open many more doors for you. Even more doors will follow with an MBA. It all comes down to how far you want to go in your career. If you're comfortbale being at the same level until retirement... In fact, without the degree I'm not sure if you'll obtain the license (but that's subject to more research).

Here's info you'll find useful for Ontario: http://www.cpaontario.ca/Admissions/InternationallyTrainedAccountants/MemberAcctgBodyOutsideCanada/1010page13560.aspx

The good news is with your ACCA/CPA and experience, undergrad degree will be a breeze. In fact, you will be exempted from numerous classes, and may be graduate sooner than you think. I suggest you make inquiries with some schools. Note that you can begin the CPA process and school INQUIRIES before you land.

My friend, thank you so much for such a healthy comment. There is a reciprocal agreement between ACCA and CPA (BC) Canada, but unfortunately since I do not have a bachelor degree I do not fulfill their eligibility criteria. I have also contacted CPA Ontario and they are ready to induct me as a student without a bachelor upon my arrival in canada. It will allow me to give few papers and obtain a license from CPA Ontario.

Furthermore, I look forward to do bachelor degree in Canada (exemptions - yes i'd love to get them ). I am dropping emails to all institutes for this purpose and hoping things will materialize soon. I really wish that your words come true hehe and at least I am able to secure a survival job atleast in Toronto through which i can finance my living and further studies.

Do you think I can do that based on current trend in Toronto? I believe employers should not consider bachelor degree while offering me a job as I do posses quality experience with Ernst and Young and an affiliate of General Cables USA. I really hope this clicks in Toronto as well

 

[trini_ac]

Thank you so much friends, by bankruptcy i didnt mean to declare it. what i mean was short of cash.

My point of concern is I am professional qualified with ample experience. But unfortunately I do not have canadian experience or qualification. Furthermore, I do not have a bachelor degree rather a professional certificate which is equivalent to 3 years bachelors in Canada.

Is it likely that I will face similar situation that wont get job and get out of cash in toronto?


Just planning for the worse.

We seem to be in the same situation. I also did ACCA from level 1 and do not have a bachelor's degree. I sent an email to cpa to see what I will have to do in order to get cpa but I am sure it's more complicated than merely sitting one more exam. It was that simple before the three designations merged but I think acca is losing the mra they had with cga in July of this year and acca members needed degrees in order to get cga designation. There's no way to get a degree in time for that so I will be doing probably the same thing you are. When are you moving to Toronto? Maybe we can keep in touch and share information on the accounting field.

 

[murtazajaffri_cca]

We seem to be in the same situation. I also did ACCA from level 1 and do not have a bachelor's degree. I sent an email to cpa to see what I will have to do in order to get cpa but I am sure it's more complicated than merely sitting one more exam. It was that simple before the three designations merged but I think acca is losing the mra they had with cga in July of this year and acca members needed degrees in order to get cga designation. There's no way to get a degree in time for that so I will be doing probably the same thing you are. When are you moving to Toronto? Maybe we can keep in touch and share information on the accounting field.

nice to hear from you man! its good to know that i am not the only one in the boat! inbox or email me your number I will whatsapp you. lets connect there..

Email is in my timeline

 

[next2015]

My friend, thank you so much for such a healthy comment. There is a reciprocal agreement between ACCA and CPA (BC) Canada, but unfortunately since I do not have a bachelor degree I do not fulfill their eligibility criteria. I have also contacted CPA Ontario and they are ready to induct me as a student without a bachelor upon my arrival in canada. It will allow me to give few papers and obtain a license from CPA Ontario.

Furthermore, I look forward to do bachelor degree in Canada (exemptions - yes i'd love to get them ). I am dropping emails to all institutes for this purpose and hoping things will materialize soon. I really wish that your words come true hehe and at least I am able to secure a survival job atleast in Toronto through which i can finance my living and further studies.

Do you think I can do that based on current trend in Toronto? I believe employers should not consider bachelor degree while offering me a job as I do posses quality experience with Ernst and Young and an affiliate of General Cables USA. I really hope this clicks in Toronto as well

Experience with Ernst&Young is your key. Experience with any of the big 4 is not taken lightly in any part of the world, so you certainly have a resume that'll catch the attention of many recruiters. I don't know if you're currently with Ernst & Young, if you are, have you explored putting in a transfer request? Otherwise, I would advise you start applying even before you obtain a license from the province - usually, it helps when you indicate to the employer that you're in the process of obtaining the CPA designation. In my view, you have a good chance of skipping the survival-job option - no guarantee, but you have a good chance. The key is in having a good cover letter and resume that is well constructed - catch the recruiter's attention.

My advice: (1) got to job sites and look at the job opportunities there, see what employers are looking for and how you fit the profile (2) look at sample accounting/finance resumes. With that, you can (3) start constructing your resume and cover letter accordingly. When you land, (4) obtain a Canadian address (if you don't have one yet), and indicate it on your resume and cover letter. All this as you work on obtaining the CPA designation with Ontario and enrolling into undergrad school. You should also consider exploring the possibility of admission into an MBA without a bachelor's degree, some schools top-tier schools actually can give an admission based on work experience - it's worth a try.

I'm sure you've read many posts here that encourage you to be positive - you need to be. I'll add one thing to that; be informed. Invest time in research on the profession in Canada. Here are some job sites (if you don't know any); www.indeed.ca www.workopolis.com and www.jobbank.gc.ca

 

[murtazajaffri_cca]

Experience with Ernst&Young is your key. Experience with any of the big 4 is not taken lightly in any part of the world, so you certainly have a resume that'll catch the attention of many recruiters. I don't know if you're currently with Ernst & Young, if you are, have you explored putting in a transfer request? Otherwise, I would advise you start applying even before you obtain a license from the province - usually, it helps when you indicate to the employer that you're in the process of obtaining the CPA designation. In my view, you have a good chance of skipping the survival-job option - no guarantee, but you have a good chance. The key is in having a good cover letter and resume that is well constructed - catch the recruiter's attention.

My advice: (1) got to job sites and look at the job opportunities there, see what employers are looking for and how you fit the profile (2) look at sample accounting/finance resumes. With that, you can (3) start constructing your resume and cover letter accordingly. When you land, (4) obtain a Canadian address (if you don't have one yet), and indicate it on your resume and cover letter. All this as you work on obtaining the CPA designation with Ontario and enrolling into undergrad school. You should also consider exploring the possibility of admission into an MBA without a bachelor's degree, some schools top-tier schools actually can give an admission based on work experience - it's worth a try.

I'm sure you've read many posts here that encourage you to be positive - you need to be. I'll add one thing to that; be informed. Invest time in research on the profession in Canada. Here are some job sites (if you don't know any); www.indeed.ca www.workopolis.com and www.jobbank.gc.ca

Brother thank you so much for such a detail reply and I really appreciate you took out time for it. May God Bless you.

I am working over it. I will talk to universities as well now Thanks you once again. please email me your whatsapp details to remain in touch I'd appreciate.

 

[Ready 2 Go]

Hi,

Good to see some ACCA guys on the forum. I am ACCA/ CPA (BC) member. You guys can apply for CPA-BC based on Oxford Brooks Bachelors.

Cheers!

 

[murtazajaffri_cca]

Hi,

Good to see some ACCA guys on the forum. I am ACCA/ CPA (BC) member. You guys can apply for CPA-BC based on Oxford Brooks Bachelors.

Cheers!

any alternative, if your only ACCA member widout bachelor degreE?