ACA vs CIMA

Wondering if anyone can offer an objective opinion on the below:

I've been studying towards the CIMA qualification but so far only completed the Certificate Level. Recently I found out that my firm have become ACA approved and I am thinking of switching to ACA. Now seems to be the time to switch as I will get a couple of exemptions at Certificate Level in ACA (3) but not many more if I progress with CIMA.

The main reasons for thinking of switching are that (i) I am unsure what path I would like to take in future and from what I know ACA offers more breadth of opportunities - audit, tax, investment banking, setting up your own business and working in smaller businesses and industries such as museums (ii) the prestige attached to ACA. A lot of websites I have seen say that if you have the opportunity to do ACA - take it.

That being said I have some reservations about switching. I am wondering if the prestige attached to ACA is primarily due to the fact that historically only the Big Four plus accountancy practices could provide training contracts. Now that more firms in industry are ACA approved perhaps things will change?
Also I have heard ACA is considerably more difficult. I don't want to do something that is going to take me years and years. (I am 29 years old so would like to be qualified sooner rather than later to progress my career. )
Plus - will I be at a disadvantage studying ACA if I am in an ordinary job at present and not on a three year graduate programme?

Any advice/tips would be much appreciated.

Reply 1

Pipsico

14

First off, are you sure your firm will be offering the ACA - and not the ACCA? I've never actually heard of a company within industry offering that, as I would imagine it usually only applies to practice. Please correct me if I'm wrong!

If it does turn out to be the case, speaking honestly, I would absolutely go with the ACA as you are unsure of what path to take - so why limit yourself?

I am actually CIMA qualified, and I knew I didn't want to do tax and audit.

But, ACA is prestigious, and certainly won't close any doors for you, so I would encourage you down that route.

CIMA are also going through a bit of a revolutionary syllabus change, where all exams will be computer based from 2015 onwards. Worth considering that point before making your decision - it could be great or catastrophic...

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Reply 2

EmilyCoppen

OP

5

Thanks - that's really helpful (In answer to your question it is ACA, ACCA or CIMA that they offer so I was considering ACA or CIMA.)

Original post by Pipsico

First off, are you sure your firm will be offering the ACA - and not the ACCA? I've never actually heard of a company within industry offering that, as I would imagine it usually only applies to practice. Please correct me if I'm wrong!

If it does turn out to be the case, speaking honestly, I would absolutely go with the ACA as you are unsure of what path to take - so why limit yourself?

I am actually CIMA qualified, and I knew I didn't want to do tax and audit.

But, ACA is prestigious, and certainly won't close any doors for you, so I would encourage you down that route.

CIMA are also going through a bit of a revolutionary syllabus change, where all exams will be computer based from 2015 onwards. Worth considering that point before making your decision - it could be great or catastrophic...

Posted from TSR Mobile

Reply 3

M1011

19

Original post by Pipsico

First off, are you sure your firm will be offering the ACA - and not the ACCA? I've never actually heard of a company within industry offering that, as I would imagine it usually only applies to practice. Please correct me if I'm wrong!

If it does turn out to be the case, speaking honestly, I would absolutely go with the ACA as you are unsure of what path to take - so why limit yourself?

I am actually CIMA qualified, and I knew I didn't want to do tax and audit.

But, ACA is prestigious, and certainly won't close any doors for you, so I would encourage you down that route.

CIMA are also going through a bit of a revolutionary syllabus change, where all exams will be computer based from 2015 onwards. Worth considering that point before making your decision - it could be great or catastrophic...

Posted from TSR Mobile

All computer based as in all multiple choice kind of tests, or written essays but on computers?

Reply 4

Pipsico

14

Original post by M1011

All computer based as in all multiple choice kind of tests, or written essays but on computers?

A mixture of both - 14 multiple choice tests in total across all 3 levels, and a computer based case study at the end of each level. I'm so glad I finish CIMA before it happens! One of my tutors took a trial test and failed it. Hopefully they've made it more in line with current difficulty.

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Reply 5

AW1983

10

Sounds like they're moving in to line with CPA Australia, a body they have mutual recognition with. The trouble with this approach is that you start getting rich students in developing countries like China who just keep on taking the same exam day after day until they pass. There are even urban legends about Chinese students passing CPA Australia exams despite being unable to speak English!

Reply 6

username1330372

3

Original post by AW1983

Sounds like they're moving in to line with CPA Australia, a body they have mutual recognition with. The trouble with this approach is that you start getting rich students in developing countries like China who just keep on taking the same exam day after day until they pass. There are even urban legends about Chinese students passing CPA Australia exams despite being unable to speak English!

Re your racist marks, CIMA isn't popular in China. It's the ACCA that's got huge student body in China.
Also what's wrong being resit the exams? We pick up what we failed last time and carry on. I didn't know perseverance is a character being frowned upon.
Lastly, CPA Aus doesn't get to examine speaking skills, right? Last I check, there is no viva, right? Besides, what do you expect with an open book MCQ certificate?

ps, Isn't it like rich and developing being paradoxical? Most Chinese are nowhere being as rich as most British people.

(edited 9 years ago)

Reply 7

AW1983

10

Re your racist marks, CIMA isn't popular in China. It's the ACCA that's got huge student body in China.

I've never been called a racist before. How are my remarks racist? I was actually talking about CPA Australia, which is well known to be popular in parts of China as a means to becoming a qualified accountant for the purpose of emigrating to Australia. I in no way condemn the practice because I did exactly the same thing myself, albeit from the UK (you only need the foundation program, I didn't bother with the professional level).

Also what's wrong being resit the exams? We pick up what we failed last time and carry on. I didn't know perseverance is a character being frowned upon.

There's nothing wrong with resitting exams but there is a huge problem with people doing the same exam over and over again in the same month, especially when the examining body uses a question bank.

Lastly, CPA Aus doesn't get to examine speaking skills, right? Last I check, there is no viva, right? Besides, what do you expect with an open book MCQ certificate?

That was the point I was making. Technically, it is possible, though unlikely, to pass the exam without speaking the language it is set in. That said, you won't get an Australian permanent visa without speaking English to a certain standard and the claims that Chinese students have passed the exams without speaking English are an unverified urban legend. I didn't say Chinese to be racist, only because that's where I've heard the rumours. I was also speaking in jest; as I said, I find it very unlikely to be true.

ps, Isn't it like rich and developing being paradoxical? Most Chinese are nowhere being as rich as most British people.

I know their not, but like a lot of developing countries, there is a huge gap between the rich and the poor. I was actually deriding that, the opportunities it unfairly buys (and believe me Britain has its share of it too) and the laughable claims of the Chinese Government that it governs an equal or dare I say it Communist society rather than taking a shot at the entirety of the population of China.

ACA vs CIMA

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