Again: CIMA or ACCA?

annemarie

Hi everyone,

I am half way through AAT level 4 and thinking of studying either CIMA or ACCA and can't decide. It would be self financed

I currently work as a Finance Administrator at a small business running all accounts work and payroll. It is a varied job where I do lots of different things, however there is no Finance Manager so this work would probably not fall under the work experience category of both qualifications. I love my work but want to move on at some stage as there is no progression possible. I am in my early 40's though and am wondering if it would be hard to find employers who would be interested in taking me on at this age whilst I am getting qualified. Also, I don't know what role to look for, am I more of a financial accountant or management accountant? All I know is that I love the variety of my current role.

Are there any other people who have started CIMA or ACCA at a later age and what would anyone recommend I go for?

Annemarie

stevef

Hi Annemarie, not sure if I am going to be much help or just muddy the waters for you even more. Putting my cards on the table right away, I am an ACCA member, fully engaged in their advocacy scheme.

I did not start my ACCA studies until my mid thirtys, but had been working in the public sector since just before my 18th birthday. By the time I was both AAT and ACCA qualified I had done stints in Costing, Revenue collection, Exchequer and Internal Audit. On ACCA qualifying more stints in Internal Audit (visiting schools), service accounting (education up to trial balance), technical accounting (rules and regs interpretation), treasury management and pension fund investments. Now work as a Head of Finance, in charge of all that "stuff", in a blue light emergency service (most of our vehicles are red and silver!).

As an employer, when filling vacancies we never consider age, but I do like levels of qualification to roughly match experience.

The choice between ACCA and CIMA, has been discussed so many times.

I think we all get too hung up on lables, is one qualification better for management accounting or for financial accounting? What is management and financing accounting? I don't know and would hesitate in ever giving a definitive definition. All I know is that I have spent all my working life in Public sector finance and have worked in just about every field of finance in local government alongside colleagues with ACCA, CIPFA, ICAEW and CIMA qualifications. Being ACCA/AAT qualified has not been a disadvantage in any area worked in. You pick the body that sits most comfortably with you, your employer and training opportunities. The only areas you need to be cautious about is; if your future aspirations lead to a role where you need a good tax knowledge or a function where certain qualifications are set out in legislation (eg Registered auditor of a plc or principle public sector organisation, or in my case, a section 151 officer).

annemarie

Hi Steve,

Thank you for your reply. It is really good to know that in the working world, it does not people with all types of qualifications work together. It also good to bear in mind that ACCA gives access to particular roles and CIMA doesn't. I am leaning more towards the ACCA qualification, as it is an internationally recognised qualification and as an EU national that might give more certainty, especially with Brexit looming.

I guess my main worry is not getting another role which could count towards the work experience of either qualification due to my age and experience. I have only been working as an accounts assistant/administrator for 8 years after an Archaeology degree, several years in IT and self employment. The benefit of being older is that once I started working in accounts and decided to study AAT, I did really know that this is something for me, I guess you know yourself a bit better than when you are young. However, my fear is that at this point I might not be able to move from an accounts assistant to accountant/assistant accountant.