ACCA or CIMA

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2007newlyweds
2007newlyweds Registered Posts: 2 New contributor 🐸
As both sylabuses are very similar which is seen to be the 'better' qualification and keep most doors open for future career choices?

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  • Cortez
    Cortez Registered Posts: 76 Regular contributor ⭐
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    From what I've read online and heard from other people ACCA would give you more career options. CIMA is quite a specialised qualification aimed at management accountants so an accounting job in industry is what you'd probably end up doing. With ACCA you can do that or work in practice.

    Like I said, that's what I've picked up from my reading so I'd wait for someone elses views before making you decision ;)
  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    can only echo the above

    CIMA - Industry based anagement accounts

    ACCA - leaves more doors open

    I do believe there are more exemptions for AAT's doing ACA if this is an option
    Regards,

    Burg
  • ani-ari
    ani-ari Registered Posts: 15 New contributor 🐸
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    can I ask you what does "burg" mean ,if you dont mind
  • bryan100
    bryan100 Registered Posts: 23 New contributor 🐸
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    I have lectured both of these qualifications and observed the career track of students with some interest.
    I am ACA, CTA qualified and would have expected the ACCA students to be more visible but, even though those that qualified have done extremely well in Practice, the CIMA students are the ones who have had a faster, more public and longer career track. It is, perhaps, significant that all the CIMA students were and are from the Public Sector.
    I suspect that those in Practice will, ultimately, earn more than those in the Public Sector, particularly when they make partner, but that is, probably, the nature of the beast!
  • purplegirl
    purplegirl Registered Posts: 47 Regular contributor ⭐
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    I've always found costing and budgeting more interesting, so I'm going on to CIMA.
  • bopit71
    bopit71 Registered Posts: 5 New contributor 🐸
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    I work in the public sector at the moment which is very CIMA orientated. However my aim eventually is to work for myself so I'm really torn about which path to follow... It's a tough choice and once you've made your decision you've got to stick with it!
  • NeilH
    NeilH Registered Posts: 553 Epic contributor 🐘
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    bopit71 wrote: »
    I work in the public sector at the moment which is very CIMA orientated. However my aim eventually is to work for myself so I'm really torn about which path to follow... It's a tough choice and once you've made your decision you've got to stick with it!

    Hi

    If you have a desire to work for yourself in the future, it's worth considering the practising requirements of each of the bodies. All professional accounting bodies (including the AAT) make additional requirements of their self employed members before they will allow them to practice/grant a practising certificate. The ACCA's are quite tight and unless you have worked for an ACCA approved employer (practice or industry) for a minimum of three years (a minimum of two must be after qualifying) you won't be able to do much beyond book-keeping and payroll.

    Neil
  • bryan100
    bryan100 Registered Posts: 23 New contributor 🐸
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    One thing to bear in mind is that ACA and CIMA seem certain to merge in the not too distant future. This will undoubtedly pave the way for CIMA people to enter private practice. I suspect ACA is looking to take the part of the stage currently occupied by ACCA!
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    Do you really think they will merge Bryan?

    I thought the vote was resoundingly against it last time, so it was unlikely to happen although I bow to your experience as an ACA as I'm taking ACCA so don't have the insider knowledge
  • NeilH
    NeilH Registered Posts: 553 Epic contributor 🐘
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    bryan100 wrote: »
    One thing to bear in mind is that ACA and CIMA seem certain to merge in the not too distant future. This will undoubtedly pave the way for CIMA people to enter private practice. I suspect ACA is looking to take the part of the stage currently occupied by ACCA!

    After the last attempt, a merger is a few years off yet. Currently CIMA members can enter practice, they just can't become auditors - but ACCA and ACA qualification alone isn't enough to become an auditor, they require additional post qualification experience and training.

    Neil
  • purplegirl
    purplegirl Registered Posts: 47 Regular contributor ⭐
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    It's good to hear about practice, in case I decide to go that route. An auditor is the one main thing I don't want to be, so I'm happy!
  • SuperK
    SuperK Registered Posts: 1 New contributor 🐸
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    I went into CIMA after AAT and there are fewer exams than ACCA (only six at "Managerial Level" ). Only problem is, no-one warned me of the gap in difficulty. Apparently, it is the norm for people to fail their exams as well as pass! Hard to take if you are used to passing. Anyway, two years later, I am well on,the way to Strategic level (one year longer than I planned).
  • Hiljay5
    Hiljay5 Registered Posts: 7 New contributor 🐸
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    I also went on to CIMA from AAT - partly because there are fewer exams! However, one of our AAT tutors did warn that CIMA was on "another level"! I am currently studying Strategic level, and have just taken the last two exams at Managerial level in November (that I failed in May!) We have to wait until end Jan to get the results, but if I fail either of these again it means I can't sit Strategy exams in May 08 as you have to pass all Managerial level before taking Strategy - just got to keep my fingers crossed for a couple of months!
  • ani-ari
    ani-ari Registered Posts: 15 New contributor 🐸
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    hi
    I am at final stage of AAT only one exam to go (had two last weekend and I am confident that I will pass)but dont know what to do where to go>

    ACCA or what???????(how many exams are in total after AAT)how much they cost

    CIMA (how many exams are there in total after AAT)cost???

    I did speNd enough money for AAT(JUST PAY THE COLLEGE BECAUSE ALL THE EXAMS PASSED FIRST TIME)AND NOT FINDING A JOB IS PUTTING ME SO DOWN.
    i LOVE THIS PROFESSISON(accounting)and i cant find a job ,because i dont know many people
    I have been applying in line for months but just few interviews and nothing
    I really want to continue but if

    no job,no money how can i ?
    any advice from anybody is welcome
    thank you
  • purplegirl
    purplegirl Registered Posts: 47 Regular contributor ⭐
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    The only cost I looked at was the first year for CIMA and the college fees are £750!
    I am looking for study support in my next role, or CIMA will have to go on the back-burner.
  • NeilH
    NeilH Registered Posts: 553 Epic contributor 🐘
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    Hi

    When you say £750, how many papers was that for? If it's just one paper's tuition it seems rather expensive, if it's more than one paper then it seems quite resonable. However, bear in mind that the better regarded colleges charge more, so it can be a case of you get what you pay for.

    Neil
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034 mod
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    I don't think there is much to choose between the two and to the best of my understanding when you are 2 years into ACMA you may weell receive a letter asking you (for money) and offering you membership of ACCA without having any exams to take (based on you already having CIMA).

    I have heard this from several of our exCIMA students but I doubt it is much different for anyone who has passed ACCA.

    So on the basis that 2-3 years after graduating you could have BOTH qualifications then you might as well follow the route where the subjects you study interest you more.

    And to respond to the comment Purplegirl made about course fees, I agree with NielH be very careful about what you are getting for £750

    I encourage our students to take 2 exams per sitting (no more). That means taking from August to the following November (or February to the following May). To put the tuiton fees into perspective our taught courses are £570 for one exam (we provide the Elsevier text and exam practice). We have 10 three hour classes and two six hour revision days and we have a limit on numbers of 16 per class. (And an impressive success rate)

    We only tend to run taught courses like this for P1 P2 P7 and P8.
    Our students tend to opt for home study for P3 and P4 so we lay on 3 x 3hr workshops which focus on key topics and hopefully keep the home study on the front burner (but don't cover the whole course).
    Sandy
    sandy@sandyhood.com
    www.sandyhood.com
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