Can't decide, CIMA or ACCA

richf · May 2016

Hi all,

I know this question has been done to death! But I really can't decide.

I had always planned to do ACCA after completing AAT.
My reasons being that I have a pipe dream retirement plan of having a small practice, or at least doing accounts for a few people at retirement age. Also ACCA is recognised in Greece and there is a chance I may want to move there in the distant future.

However, I just found my first proper accountancy job after completing AAT and I'm starting to wonder if I may in fact be more suited to CIMA and management accountancy in general. The role is Accounts Assistant but there is a possible carrier progression within the company to management accountant role in the future. Also my natural main skills are surrounding problem solving which I'm thinking may be of more benefit to this career path.

If I did ACCA and did nothing with taxation etc elements in my career then I'd struggle to transfer to practice anyhow later.

Does anyone do CIMA then do ACCA later? I'm thinking could do later in life if needed to work in Greece.

I could be wrong, but it appears completing CIMA could also potentially be quicker.

Anyhow, opinions anyone?

Thanks in advance.

Rich

Edit: could someone move this to further studies section if possible, accidentally posted here

David Ballantyne · May 2016

Hi Rich,

Getting a practising certificate:
With ACCA you have to have a verified period of practice experience. They are very strict about the range of experience that you must have to obtain a practising certificate.

With CIMA, as I understand it, they will allow you to practice in areas in which you are experienced and in areas in which you are not experienced as long as you have a plan in place to resolve this. Also with CIMA, if you have a practising certificate with another body, eg AAT, you don't have to apply for one with CIMA.

This post on Bookkeepers Network may be useful.
http://www.book-keepers.org.uk/t62067035/aat-to-acca/

A career in management accounting:
You will be able to progress equally well with either CIMA or ACCA.

There are people who have studied CIMA and then gone on to study ACCA. My father's accountant did this when he transferred from industry to practice.

I am afraid I don't know if CIMA would be quicker than ACCA.

Hope that helps,

David.

richf · May 2016

Hi David,

Thank you, and lot of extra information in the link!

I start my new job in two weeks, and they have already emailed me regarding detailed study support proposal.

I think I need to be 90% sure so I can show I know what I want. In interview I mentioned wanting to do ACCA and eventually have my own practice or at least work for myself. My feedback pre job offer was they were not sure if I'd get to this point starting there, and the route would probably be different, being typecast.

That's when I started to seriously consider CIMA again. Also my job hunting has made me realise that jobs that appeal to me may favour CIMA long term.

Thanks

Rich

k4pz · May 2016

Hi,

I was in the same predicament as you for a long time, ACCA or CIMA.
Purely upon chartered qualification you will not be rejected a role in management accounts, i.e. doesn't matter if you're ACCA or CIMA.
However if you want to go into a role involving Tax or Audit then you will only get it with ACCA/ACA.

So I thought why bottleneck myself by doing CIMA, in future I may decide I want to do Tax or Audit (currently i'm a management accountant)

Plus ACCA is the most internationally recognised.

Rgds

K4pz

Can't decide, CIMA or ACCA

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