CFA or ACCA or CIMA??

Hi,

I've got my results a while ago, I've passed my degree (2:1) Accounting I would like to know some advise on route I should take. Here are several issues on my mind:

1) If I do CFA, I would need to take CFA I, II exams using the CFA route by doing MSc Accounting and Finance. Plus I need to do CFA III to pass all exams and to gain 4 years work experience to hold the CFA designation.

By entering this route, if I passed my exams, it won't necessarily guarantee me a job or I can put CFA on my CV until I actually gain work experience. In the Finance Industry, I'd say this is rather competitive. Therefore my degree is rather irrelevant.

2) Go to ACCA route which I've already hold 9 exemptions and I need to finish 5 (correct me if I'm wrong) Advanced papers whilst also working under an qualified employer with study leave during my exams. Then I will hold ACCA designation which is known to be globally recognised.

3) Go to CIMA route, which is .... basic..... By going through practically a company's graduate scheme which virtually most employers will happy to have me. As it's rather in demand. But am I selling myself short......


Number 1) I Love this route but realistically, its competitive field, literally and I cannot be guaranteed a job afterwards which means working hard for it can be somewhat arguably waste of time (sort of).

Number 2) I would need to find a qualified ACCA employer to take me on whilst doing examination professional papers......which I need to find. But I never got round to researching this route much because I love CFA route but I preferably prefer to start working. I'm flexible..

Number 3) I can work in this area but I think it might be easy as pie. Sorry but...I feel like management, finance is basic.

Thanks

imo, i would do the ACCA papers (yes 9 is the maximum exemptions meaning 5 more papers are needed), apply for a job and count that as your acca work experience. the w/e for acca doesnt necessarily have to be accounting but i think it will have to be signed by (any type of) accountant (not sure about that). then do the CFA, passing all three levels is extremely hard! perhaps if you work in an IB field you can get both w/e requirements sorted at the concurrently as well

True doesn't necessarily have to be accounting field but I think the employer needs to a qualified and give supervision throughout my work experience. Some employer may pay my exam fees.

I suppose you have a good point.

CFA route, hmmm as much I'd like to do it, realistically >=6 years

Hmmmmmmm...... I need network connections for this especially in IB field.

currently for my team in IB i have an acca accountant in it, he just signs off my hours and i do the rest of my job which a lot isnt accountancy related. i would suggest that since you understand how hard/long the CFA will take get the ACCA done first. also get some money before you do CFA, its around $1000 dollars / exam

I guess your sorted

Depending how well the job hunting goes, I'm going to find a tempo job whilst being productive during my breaks this year. If I am unable to find a graduate job who can also sign off the no of hours I've worked in the next 9 months. I think I'm going to pursue the ACCA programme at the institution which allows me to be exempt on all the P1-P3, and the two choices of P4-P7 next year. In addition, a MSc Financial Analyst simultaneously in same academic year.

Course I still require work experience at the end of it but I'll still keep my tempo job during weekends shifts to live on and nevertheless I feel this is a great combination which will boost my position and I'll be confident when the time comes. Hopefully recession will be gone by then, though I doubt it will and hopefully they still require more accountants rather than administration.

I think that'll be my plan.

if you can get an internship that counts as well to your w/e

There is no way you can compare cfa with other professional qualification. CFA is seriously tougher than ACCA CIMA or ACA. It too hard... In one day you have to sit for Ethics, Economics, Quantitative Finance, Financial Reporting, Corporate finance, Equity Investment, Fixed Income, Alternative Investment, Derivatives and Portfolio Management. So many area only one day....Way tougher than ACA or ACCA or CIMA

You don't need a 'qualified ACCA employer'? Anywhere with a finance dept will work

Can I get a timeline on when you sat each of these qualifications?

No timeline. In only one day, you have attend 10 subject in 7 hour exam session. CFA is seriously tougher than acca, aca or cima because of that. I passed aca and acca but I am struggling to pass cfa. I passed only two level of cfa after spending significant amount of time. I had to leave my job in order to create more study time. 3 months I didn't work before cfa exam

No timeline. In only one day, you have attend 10 subject in 7 hour exam session. CFA is seriously tougher than acca, aca or cima because of that. I passed aca and acca but I am struggling to pass cfa. I passed only two level of cfa after spending significant amount of time. I had to leave my job in order to create more study time. 3 months I didn't work before cfa exam

They need to be accredited so will count towards your 3 years work experience and logbook.


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Do you have to do the work experience alongside the ACCA course or after, I was wondering because I'm not sure how demanding the timetable for the courses are and if you would have time to work alongside it. Do most people work part time? Study part time?

CFA > CIMA > ACCA

CFA's an entirely different route.

I'm surprised you would even consider ACCA, was viewed as a last resort if you werent good enough for big 4. Though it did seem to be popular with Indian students.

Certainly in North America, and likely in other countries, they much prefer their own country's qualifications. In Canada CIMA has an agreement with the Canadian equivalent CMA, but with ACCA you'd be left with an undesirable qualification.

I just have almost 7 months work experiance and my 2 Options Papers are remaining P4,P5 or P6,P7.Its my future planning that in which field i go for CFO Job After ACCA and ICAEW.I mean in which subjects i need to be specialist.