CIMA vs ACCA

Esme

I know this is an AAT discussion board, but thought some of you may be able to help with some advice.

I've missed the deadline to register with ACCA as a student in order to complete the June exams and so have been looking at my other options, one of which is CIMA. I currently work in industry and don't wish to work in practise. I've been told by my course provider that CIMA is much more specialised and can limit job opportunities. What are your thoughts on this for someone who wants to continue their career in industry?

Thanks in advance.

Rinske

CIMA is aimed at industry while ACCA is aimed at working in practice. If you don't want to work in practice, CIMA might even be the better choice for you.

There are a lot of posts to find on this subject if you do a search on the forums, as many people find it hard to decide.

The other option is to speak to an study provider who offers both options to get some help, a BPP advisor for example, who can explain you the differences and help you make the decision. As they offer both courses, they would be more inclined to help you make the right choice, rather than to sign you up for the one course they offer.

Try doing a search here and if that doesn't help, try talking to one of the advisors.

Andypandy

CIMA is great for working in industry, but I think you won't be able to do audit with it. Doesn't matter if you're not interested in audit though! Have a look at PQ magazine online for a better idea. Chat soon x

PGM

Rinske wrote: »

CIMA is aimed at industry while ACCA is aimed at working in practice. If you don't want to work in practice, CIMA might even be the better choice for you.

I work in industry and still found ACCA a good choice. At the end you shoose 2 out of 5(?) modules to do, I didn't choose the adavanced autid, but the ones which fitted best to a management accountant.

Advantage of CIMA is the less restrictive rules on working for yourself!

Esme

Thanks for all of your replies.

PGM... what do you mean by 'Advantage of CIMA is the less restrictive rules on working for yourself' ?

PGM

Esme wrote: »

Thanks for all of your replies.

PGM... what do you mean by 'Advantage of CIMA is the less restrictive rules on working for yourself' ?

I don't know the exact rules, you can read them on the ACCA website.

But I believe once you pass CIMA you can set up on your own and do accountancy work, with ACCA you are restricted on what you can do until you meet the requirements.

Esme

Ok great, thank you.

Rinske

PGM wrote: »

I work in industry and still found ACCA a good choice. At the end you shoose 2 out of 5(?) modules to do, I didn't choose the adavanced autid, but the ones which fitted best to a management accountant.

Advantage of CIMA is the less restrictive rules on working for yourself!

Sorry PGM, I didn't mean that ACCA was not good for industry, just that CIMA aims mainly at industry. Should have picked my wording a bit better!

PGM

Rinske wrote: »

Sorry PGM, I didn't mean that ACCA was not good for industry, just that CIMA aims mainly at industry. Should have picked my wording a bit better!

Oh no worries. I don't know enough about CIMA to compare, just how I found ACCA.

slackda

Esme wrote: »

I I've been told by my course provider that CIMA is much more specialised and can limit job opportunities.

Dunno where they got this idea from, if anything it gives you a wider scope than ACCA imo, as it is a management course but thats just mo.


Im doing CIMA because of the course being a bit more all round, missing deadline for ACCA and still wanting to operate as MIP ( ACCA will not allow).

Bookworm55

slackda wrote: »

Dunno where they got this idea from, if anything it gives you a wider scope than ACCA imo, as it is a management course but thats just mo.


Im doing CIMA because of the course being a bit more all round, missing deadline for ACCA and still wanting to operate as MIP ( ACCA will not allow).

CIMA is limited in the very specific area of external audit. CIMA is not a Recognised Qualifying Body for audit purposes. But this is only a concern if you work in a traditional accounting practice. If you're in a commercial/industrial or public sector organisation then it's not a limitation that affects you.

It is a different syllabus than ACCA and strays into areas not traditionally considered accounting. My opinion is that ACCA tries to be all things to all men and spreads itself too thinly as a result. But it is easy to overestimate the effects of this difference.

slackda

True on the Audit front, however you can do the extra modules once you finish CIMA and Get FACCA so you can sign off audit's, at least thats what BPP told me....

NeilH

Hi

Its worth noting that having the ACCA qualification alone wont qualify you to sign off audits. You'll also need the ACCA audit qualification which requires three years work experience (two of which must be completed after gaining ACCA membership) in an approved employing firm.

Neil