Can I do my practice with AAT Licence while I study CIMA?

MoneySavingBank
MoneySavingBank Registered Posts: 143 Dedicated contributor 🦉
edited June 18 in AAT member discussion
Hi all,

I know there are so many discussion about this but I want to ask you again  sorry.

Can I Practice in my own firm while I Study CIMA? Are they as strict as ACCA?

Anything else that I should know about this?

Regards,

Comments

  • slackda
    slackda Registered Posts: 456 Dedicated contributor 🦉
    From Cima Website, i read int this that you can practice but not mention CIMA and your ok:


    Can a CIMA student or student with exams completed become a member in practice?
    Answer
    No. Although students can undertake practice work, they cannot use the term chartered management accountant as they are not fully qualified and cannot register as members in practice.

    If they undertake practice work, they must ensure they adhere to the charter and byelaws and also CIMA's code of ethics - particularly Part B which has information for accountants in public practice.

    They must also ensure they are competent in the work they undertake. Terms of engagement should be drawn up between the parties involved so that both sides know where they stand and the student should take out professional indemnity insurance.
  • MoneySavingBank
    MoneySavingBank Registered Posts: 143 Dedicated contributor 🦉
    Thanks but...

    So when a student completes his study and has a established practice, can't he get a practicing licence?

    or how can somebody start using CIMA in his own practice?

    Regards,
  • slackda
    slackda Registered Posts: 456 Dedicated contributor 🦉
    You can apply for a CIMA MIP Certificate After you have completed your CIMA qualifcation. At which point i expect you may ditch your AAT MIP Status.
  • Monsoon
    Monsoon Registered Posts: 4,020 Beyond epic contributor 🧙‍♂️
    What are the work experience requirements for a CIMA practicing certificate?

    For the AAT, I was allowed to use my self employed experience both to gain membership and MIP status as I did not have any relevant employment experience. I know other chartered bodies wouldn't allow that and would demand employed experience.
  • MoneySavingBank
    MoneySavingBank Registered Posts: 143 Dedicated contributor 🦉
    Monsoon straight to the point!

    Yes, this is one of the most important thing to me. Can I use my own work for relevent work experience in CIMA practicing licence application?

    Please somebody from experience come forward and help us with appropriate info.

    Regards,
  • Monsoon
    Monsoon Registered Posts: 4,020 Beyond epic contributor 🧙‍♂️
    MSB, wouldn't it be easier to ask CIMA direct? It's an important issue and I'd rather get the info direct from the horse's mouth rather than rely on forum advice, no matter how well respected the contributors :)
  • slackda
    slackda Registered Posts: 456 Dedicated contributor 🦉
    http://www.cimaglobal.com/en-gb/Members/Members-handbook/Members-in-practice/Part-C-certification/ ...on a serious note...is google that hard to use :D
  • MoneySavingBank
    MoneySavingBank Registered Posts: 143 Dedicated contributor 🦉
    Monsoon :D

    Hey,

    I know what you mean. Honestly, I believe you guys are really good. And in several occations, I varified your and other respected contributors comments and it's always right, interesting.

    I am confused if I shell study ACCA or CIMA. But at the moment, ACCA is putting me off due to their 2 years post study experience etc..

    And finally, I always appreciate your contribution, time and effort.

    By the way, You coming to the MIP conference in London?

    Regards,

    MSB
  • MoneySavingBank
    MoneySavingBank Registered Posts: 143 Dedicated contributor 🦉
    Googling...

    Hey slackda,

    Thanks for your replies. It is really informative.

    Regarding Googling, if we do everying googling then there will be no questions left to answer in the forum. lol

    Jokin.

    Take Care,

    MSB
  • slackda
    slackda Registered Posts: 456 Dedicated contributor 🦉
    lol it was typed in jest , don;t mind helping out a fellow AAT'er

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