CIMA or ACCA

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Which one is everybody going for and why?

I have no idea which one to do... :oops:

Comments

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

    Personally I'm heading towards ACCA.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:CIMA or ACCA
    annamalones wrote:
    Personally I'm heading towards ACCA. My Dad's just been made redundant due to a management accountant and I'd hate to do that to someone, just to make the boss even richer.

    I think thats a bit of a generalisation! Any accountant or anyone in business could end having to lay someone off, its not down to their qualification!

    Goin back to the original post, there is actually more similarity between the 2 than either would admit. I sugest you have a look at the syllabus of each and see which you would prefer to follow. Also, one thing people dont seem to consider is the work experience requirements. Both require 3 years but the specifics required do differ, so check out the requirements.

    ACCA and CIMA are both suited to self employment. ACCA is often 'promoted' for those wanting to become/who are self employed, however there are very tight regulations for self employed ACCA's.

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

    You can't be self employed and pass ACCA as you have to have supervised work experience. I phoned and asked them if there was any "solution" and their answer was give up my work and go and work in practice for 3 years :evil:

    Also while training with ACCA cant do accounts, tax etc etc.

    So I gave that up as a stupid idea and now thinking (slowly - like for the past year) about ATT - maybe I will soon get beyond the thinking stage!!!!
    Claudia
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:CIMA or ACCA


    Following on from what Claudia put, you can do work on a subcontract basis (i.e. for a firm of accountants) and have them act as supervisors.

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

    Be careful ACCA do not like students to do sub contract work, even though they say it is acceptable. When I asked them about it and they said they prefer students to be employed as it is sometimes unclear as to who indemnifies the work done.

    This is why I have given up ACCA, as I was sub-contracting and working on a self employed basis.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:CIMA or ACCA

    I too phoned ACCa and emailed them and I got two totally different responses.

    One was yes no problem, just have your work verified, the other was no way.

    Does anyone know what CIMA or any of the the others are like for self employment?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:CIMA or ACCA
    NeilH wrote:
    Following on from what Claudia put, you can do work on a subcontract basis (i.e. for a firm of accountants) and have them act as supervisors.

    Neil

    Hi Neil

    When you say "act as supervisors"... do you have some additional knowledge about this? I believe this, like others will be my down fall! :cry:

    Its really frustrating as I wish to continue my training (ACA) but with my current position.

    Regards

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

    Hi

    Regulations of the ACCA prohibit students and members without a practising certificate from undertaking much behond basic/general book-keeping, the main being you cant prepare anyitem that a third party may place realiance on (i.e. a stautory P/L). Also, self employed work experience can't cant towards the exeprience required for membership.

    However, bearing in mind the post from 'annamalones' above, regulations do permit work to be undertaken on a subcontract basis for firms of accountants. This would then be considered supervised work experience and could count towards that required for membership.

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

    Here is what thier email said:

    hank you for your e-mail.

    Students who are registered under ACCA's professional examination scheme may not claim to be members of ACCA or undertake work within the definition of public practice.

    They may undertake work outside this definition provided that they do not refer to their status as ACCA students.

    The work that may be undertaken includes;

    - Basic book-keeping
    - The recording of basic accounting data
    - The preparation of accounting records to trial balance stage
    - Payroll
    - VAT

    Such individuals may provide such services either in a self-employed capacity or as an employee. However, the provision of these services directly to the public cannot constitute 'approved accountancy experience' for the purpose of obtaining the ACCA qualification. Provision of these services under supervision, for instance on a sub-contract basis, can be used to meet the practical experience requirements.

    Further information is also available at ACCA's website

    http://rulebook.accaglobal.com

    Please feel free to contact us again should you require any further information or assistance.

    Regards

    ...

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