CIMA to ACCA?

lisamarie86

Hi all,

I am hoping someone may have done this, as I have a vague recolletion reading it...
anyway, I want to go on to study CIMA or ACCA. My FD has said that some companies still see the ACCA as a bit better than CIMA, however I think that I would enjoy CIMA more. However, I was thinking that I could study CIMA - which takes 2 - 3 years, then do some of the ACCA exams so I am qualified in both? Just wondered if anyone had done this, and how? Having looked on the website no where can I find any info.... and the exemptions checker keeps crashing.....

slackda

I don't think that there is that divide any more unless you going for a particular type of role that would demand ACCA skills i.e Tax and Audit....

but this is a question i asked BPP when i started, and yes you can become a FCCA or what ever the letters are for a Fellow, but you have to complete a couple of Exams. in the Audit Area and Tax Areas, but i don;t think that you have to do say all the tax exams just the final ones.


Got this from the checker....
Exemptions from :
Paper Title
F1 Accountant in Business
F2 Management Accounting
F3 Financial Accounting
F4 Corporate and Business Law
F5 Performance Management
F6 Taxation
F7 Financial Reporting
F8 Audit and Assurance
F9 Financial Management

Which Leaves you:

Professional (five papers in total)
Essentials
P1 Governance, Risk and Ethics
P2 Corporate Reporting
P3 Business Analysis
Options (two to be completed)
P4 Advanced Financial Management
P5 Advanced Performance Management
P6 Advanced Taxation
P7 Advanced Audit and Assurance


But if you do ACCA and want to get CIMA:

Paper name Course level Module required for Exemption
C01 Fundamentals of Management Accounting Certificate BA F2 Management Accounting
C02 Fundamentals of Financial Accounting Certificate BA F3 Financial Accounting
C03 Fundamentals of Business Mathematics Certificate BA F2 Management Accounting
C04 Fundamentals of Business Economics Certificate BA F1 Accountant in Business AND F9
Financial Management.
C05 Fundamentals of Ethics, Corporate Governance and Business Law Certificate BA F1 Accountant in Business AND F4 Corporate & Business Law.
P1 Performance Operations Operational F5 Performance Management AND Option P5 Advanced Performance Measurement.
F1 Financial Operations Operational F6 Taxation AND F7 Financial Reporting AND F9 Financial Management.
F2 Financial Management Management F7 Financial Reporting AND P2 Corporate Reporting.

So If You planning on doing one then the other if you DO ACCA First then CIMA, your looking at F3,P2,P3,E1,E2,E3. and T4.

baduk10

Apples or Oranges!!!!

Umm is it not the case that neither is better than the other. It's like saying apples are better than oranges - they just focues on two different aspects of accounting?

My understanding is that CIMA is if you intended to go down the Management Accounting route whereas ACCA is more geared for a financial accounting route – do CIMA expose their students to audits & taxataion procedures, likewise does ACCA expose their students to Kanban and other complex widget forcasting procedures!!!! I could be totally wrong on this one!!

deanshepherd

My two penneth..

If you have the choice.. do ACCA.

If you stick with the management accounting career then CIMA and ACCA are viewed pretty equally. No one is going to turn you down solely because you have ACCA rather than CIMA.

ACCA is much more widely recognised and gives you much more transferable skills between industry and practice.

However, if the CIMA syllabus interests you more and you more are more likely to want to study it and thus have a better chance of passing.. then do CIMA!

Just my opinion.

SandyHood

I am course tutor for CIMA at Chichester College.

Over the years I have heard from CIMA students that they have got both ACCA and CIMA membership.

Typically these students have qualified with CIMA, then around 2 years later they are invited to join ACCA without any further exams.

Dean may be able to confirm whether ACCA membership leads to a letter from CIMA, I wouldn't be surprised.

NeilH

Hi

ACCA and CIMA will give you equal recognition in industry, but some employers do prefer one over the other. ACCA is often mentioned as crossing the practice-industry line, but if you're working in industry and want to move to practice it can be a difficult (though not impossible step) regardless of what qualification you do or don’t have.

I work in industry and most jobs will specify ACCA and CIMA. Some will specify just one, and this is usually reflected by the nature of the role.

Do what you're happy to do and you'll probably feel better motivated.

Neil

baduk10

Totally agree

I spent nearly five years’ working for a large practice on the South Coast, and decided to cross the fence and managed to secure a position within industry. After deciding that the grass wasn't greener on the other side I tried to get back into practice - what an impossible task that has proved to be... people just won’t touch me with a barge pole and after three years of trying i have almost given up trying to get back into practice... It could be that my CV isn’t attractive enough, but I did think being FMAAT and an ACCA finalist would be attractive with 10 years experience; 5 years in practice and 5 years in industry, but it’s clearly not. I decided on the ACCA because of it’s versatility between the two industries.

Still, I’m going off on a tangent now, so back to the main topic of this thread.

Dcollins

I started ACCA because I was working for an ACCA manager in a not-for-profit organisation. I then went on to work in manufacturing, and my manager was CIMA, but I continued with ACCA. It never crossed my mind to go for CIMA membership.

I have since looked into going to ICAEW, but really baduk10 is right, the grass isn't greener.

I'd be willing to bet that once you've completed one qualification you'll want a nice long break from exams, so choose whichever is most appropriate to your circumstances and wishes.

Whatever you do, keep your AAT membership!!! I let mine lapse after becoming ACCA qualified, but have come back because my work is UKGAAP and I find AAT's resources (online, branch meetings, this forum), so helpful, and in many cases much easier to access than ACCA.

*Jo

My Grandfather was both FCA and FCCA which I was told was virtually unheard of back in the day. I wasn't aware until after his death of just how much regard this gave him in his profession. I was told at his funeral by one of his friends a partner of the firm grandad worked for just how highly he was thought of.

I myself am going for CIMA as I work in industry and thats what suits me.

I agree with Sandy, go with what interests you and what you think is best for your career.

Good luck with whatever you decide.

Jo

deanshepherd

More common than you'd think. Previously once you were a member of ICAEW you just had to pay the entrance fee to become a member of the other (CIMA too). Of course back then no-one who was ACA wanted to be associated with that certified lot anyway!

I'm pretty sure my partner who is ACCA recently mentioned that he is about to have his last opportunity to do this as ICAEW will be stopping automatic eligibility for ACCA members paying to join next year. After that it will be conversion exams to sit.

NeilH

deanshepherd wrote: »

I'm pretty sure my partner who is ACCA recently mentioned that he is about to have his last opportunity to do this as ICAEW will be stopping automatic eligibility for ACCA members paying to join next year. After that it will be conversion exams to sit.

ICAEW have a "Pathways to Membership" scheme. CCAB members were able to apply for membership based on their existing CCAB qualifcation and an examination of experience - this wasn't a "sat" examination but a detailed record of their experience, which had to be a minimum of five years post qualification.