CIMA or ACCA

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:09AM in AAT student discussion
Hi all,<BR><BR>Will hopefully doing tech next year and then i don't know which way to go, CIMA or ACCA.<BR><BR>Whats the difference, is one harder than the other, is one recognised more than the other. Have looked on the website of both, however doesn't make much sense.<BR><BR>What sort of price is it.<BR><BR>Thanks in advance

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    CIMA or ACCA

    <BR><BR>Depends whether you prefer Management Accounts or Financial. If salary is the criterion then CIMA qualifieds earn more on average. All courses cost pretty much the same, it depends on the college.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    CIMA or ACCA

    Hi<BR><BR>It really depends on personal choice. CIMA tends to be regarded as managements accounts and ACCA as financial accounts, but in truth they both cover a fair balance of financial and management accounting. ACCA covers audit and more on tax, but CIMA covers more on general business admin/management. If you have fully completed one of the qualifications, then you get exmption from the majority of the other - which indicates they are more similar than you might think. I currently work in a finacial accounting role, yet CIMA is still as relevant to my job as ACCA would be and I have the potential to cover at least three quarters of CIMA's practical requirements with the oportunity to take more on later.<BR><BR>Poohbear commented on salary, on the whole CIMA may earn more but salaries are affected by area of the country and what sector you work in and the role you do. It may just be that CIMA has a bigger presence in the better paid jobs, rather than CIMA itself attracting a better salary. In my area the demand and salaries for ACCA and CIMA is pretty even.<BR><BR>Neil<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    CIMA or ACCA

    to do end of year accounts for own business would you reccomend acca? rather than cima? i dont want to just get the 'easiest' qualification but would like the one most appropraite to doing end of year and day to day accounts etc.?<BR><BR>thanks<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    CIMA or ACCA

    Hi<BR><BR>Both ACCA and CIMA will cover final acounts, though ACCA goes more indepth on the financial reporting standards. Strichlty speaking anyone can put final accounts together as it is the companies directors (for incorporated business) who are in the position of being responsible for signing/filling year end accounts. The auditors sign the audit report.<BR><BR>If you were a member of ACCA and CIMA and wanted to be self emplyed putting together final accounts, either body would require you to hold their practising certificate as part of their regulations for self-employed members. This would involve additional experience after gaining membership. If you do ACCA and want to qualify as an auditor, similar additional experience is required.<BR><BR>Having only worked for incorporated businesses Im not sure what the requirements are for sole traders and standard partnerships - i.e. who revenue and customs will recognise as qualified to prepare final accounts.<BR><BR>Neil

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