ACCA/ CIMA?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Im so confused! Ive always prefered financial accounting to management accounting, so in the back of my mind wanting to do ACCA or ACA.

However from what i have seen There are more opportunities and better paid jobs with CIMA. On the otherhand with Financial accounts i can build my own client list up.

Im concerned ill be shooting myself in the foot by doing ACCA in that i'll struggle finding work with decent pay.

Also if i do follow financial do i do ACCA or ACA. Ahhhh too much choice!

Any advice??? Thanks.

Comments

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

    Hi shellybaby

    I'm feeling much the same, after all how much manufacturing do we still do in the Uk (re Variances). But have you looked at the content of ACCA & CIMA? It confused me even more. ACCA does Management Accounting amd CIMA does Financial Accounting!
    From what I've picked up,you really need to be a junior in an Acct. Co. to do/benefit from ACCA and so get paid a pittance. CIMA does seem more wide ranging and you can earn more earlier.
    Still, I guess it boils down to whichever you can't stand v prefer doing for the next ? years. I'm going to try to go to some local college Open Days to find out more before decidng. Even then, how and with whom is it best to study?
    Any ACCA/CIMA students out there to comment???
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ACCA/ CIMA?

    I think you should study the subjects you enjoy most.

    Both have things in the syllabus that you will never use in work, but give you a theoretical base which can help you when faced with problems to deal with at work.

    Our CIMA qualifiers said that a couple of years after they had qualified they were invited to join ACCA. They didn't have any exams to take but did have to pay their membership fees. I think CIMA are the same.

    These discussion boards are full of people trying to decide. If doing one gets you the other, you might as well do the exams you will find the least horrible.

    Sandy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ACCA/ CIMA?

    Hi

    Following on from what Sandy said about CIMA qualifieds being invited to join ACCA, the ACCA have a direct entry to membership route for people qualified with other institutes and have post qualified experience.

    ACCA is often stated as the preferred choice for those who want to become self employed, one of the reasons for this is that ACCA accountants can 'sign off' accounts, when in fact the people saying this obviously dont know what signing off accounts mean. Also, ACCA have very tight regulations on what self employed students and members can do. Unless you hold the ACCA practise certificate (which requires experience with an approved employer - some afetr becoming a member) you can't do much behond general book-keeping as a self employed accountant and you wont be able to publicly call yourself an accountant or refer to your ACCA qualification.

    Both syllabi are quite similar and the notion that CIMA is just costs and budgets and ACCA is about financial statements is dated an misleading. Have a look at the content of each and make up your own mind about what you woul like to study. Its all very well taking a favoured qualification, but if you dont like doing it you may not get far.

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

    Im currently working in practise, does that mean if i do ACCA i am eligable to 'sign off' accounts?

    Thanks for everyones help. I will do some more research - i have already done loads and still dont seem to know any more. The information i find about both courses isnt that informative.

    I dont suppose anyone has a ny useful guide or info to the courses?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ACCA/ CIMA?

    Also, does anyone know if theres any truth in once qualifying mith ACCA you can join CIMA without sitting exams or vice versa??

    Thanks!
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:ACCA/ CIMA?

    Hi

    ACCA have a direct entry to membership for those who are qualified with other CCAB bodies and have five years post qualification experience. Ive not seen anything other than hearsay that says CIMA have a similar scheme.

    Neil

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