ACCA or CIMA for my position
I know the ACCA vs CIMA debate has been discussed over and over but I would value your input to my own person needs. Please bear with this long post as your advice is important.
In my 30s and about to make a career change to becoming an Accountant. I have no formal qualifications and no Finance experience (though many years practical experience in I.T.). I will be funding myself to take the FIA Diploma or the CIMA Certificate, and then hopefully find an entry position within Finance that will pay for my tuition and then crack on with the journey from there. It will be tight for a few years but should payoff in the long run.
These are my dilemmas:
1) I'm saying this without actually having any accounting exposure so I may change my mind once I've had a taste but once qualified I would like to be involved with discussions on the Business strategy, making suggestions on areas to improve/concentrate on, and gaining my communication skills again by participating in meetings (regaining softskills that I've feel I've lost being an IT techie in a shoebox) - CIMA wins?
2) I know the ACCA and CIMA supersedes a BSc degree but I have seen many HR depts using a degree as a filtering process. I understand ACCA have a degree programme with Oxford-Brookes, but do CIMA have one? - ACCA wins?
3) I spoken with a training provider and the ACCA syllabus has been the same since 2007 but CIMA have revamped theirs for 2015. I understand this 2015 syllabus is much more difficult due to:
a) 50% passmark is now up to 70%
b) only 1.5 minutes to answer each question and many students just cannot answer all of the questions which means lower scores
c) now CIMA exams are computer-based you don't get half marks but instead you just get them correct or wrong, which will lead to lesser marks
d) if you fail CIMA you are not told by how much. It is simply pass or fail so you don't know if you were close
e) there are now three case studies to complete rather than one
f) for me there would be 17 CIMA exams to complete as opposed to 14 with ACCA. - ACCA wins?
4) I'm quite slow at writing (always type now) so maybe computer-based is for me, also if computer-based is multiple choice it may give you a clue to the answer more so than if you had a blank bit of paper in front of you. - CIMA wins?
5) If starting ACCA or CIMA which will likely help me break into the industry to get the employer to fund me? - maybe ACCA wins?
To be honest, it is quite daulting making this career change but it is one I have thought long and hard about. I just need help/advice on which to take. I would've thought CIMA would be the one as it is more Management focused than number crunching which is where I want to head, but now I hear both are equally as important to reach that Business/Management engagement type role. This new CIMA syllabus seems much tougher. It is going to be a hurdle enough in itself to switch to Finance so I want to take the easiest approach as possible really. Also, worried Financial Accouting (ACCA) will be a little dry/wooden but then again that's why I'm on here asking you guys. One last point, I don't learn by reading black and white text and remembering it. I learn by watching examples as it's more engaging. I don't know if that makes a winning choice for me?
I've spent long enough researching and need to make a decision shaprish. Any help will much appreciated. Thank you.
In my 30s and about to make a career change to becoming an Accountant. I have no formal qualifications and no Finance experience (though many years practical experience in I.T.). I will be funding myself to take the FIA Diploma or the CIMA Certificate, and then hopefully find an entry position within Finance that will pay for my tuition and then crack on with the journey from there. It will be tight for a few years but should payoff in the long run.
These are my dilemmas:
1) I'm saying this without actually having any accounting exposure so I may change my mind once I've had a taste but once qualified I would like to be involved with discussions on the Business strategy, making suggestions on areas to improve/concentrate on, and gaining my communication skills again by participating in meetings (regaining softskills that I've feel I've lost being an IT techie in a shoebox) - CIMA wins?
2) I know the ACCA and CIMA supersedes a BSc degree but I have seen many HR depts using a degree as a filtering process. I understand ACCA have a degree programme with Oxford-Brookes, but do CIMA have one? - ACCA wins?
3) I spoken with a training provider and the ACCA syllabus has been the same since 2007 but CIMA have revamped theirs for 2015. I understand this 2015 syllabus is much more difficult due to:
a) 50% passmark is now up to 70%
b) only 1.5 minutes to answer each question and many students just cannot answer all of the questions which means lower scores
c) now CIMA exams are computer-based you don't get half marks but instead you just get them correct or wrong, which will lead to lesser marks
d) if you fail CIMA you are not told by how much. It is simply pass or fail so you don't know if you were close
e) there are now three case studies to complete rather than one
f) for me there would be 17 CIMA exams to complete as opposed to 14 with ACCA. - ACCA wins?
4) I'm quite slow at writing (always type now) so maybe computer-based is for me, also if computer-based is multiple choice it may give you a clue to the answer more so than if you had a blank bit of paper in front of you. - CIMA wins?
5) If starting ACCA or CIMA which will likely help me break into the industry to get the employer to fund me? - maybe ACCA wins?
To be honest, it is quite daulting making this career change but it is one I have thought long and hard about. I just need help/advice on which to take. I would've thought CIMA would be the one as it is more Management focused than number crunching which is where I want to head, but now I hear both are equally as important to reach that Business/Management engagement type role. This new CIMA syllabus seems much tougher. It is going to be a hurdle enough in itself to switch to Finance so I want to take the easiest approach as possible really. Also, worried Financial Accouting (ACCA) will be a little dry/wooden but then again that's why I'm on here asking you guys. One last point, I don't learn by reading black and white text and remembering it. I learn by watching examples as it's more engaging. I don't know if that makes a winning choice for me?
I've spent long enough researching and need to make a decision shaprish. Any help will much appreciated. Thank you.
Original post by agm1
Bump - can anyone provide some advice?
Sorry no advice, but can I ask why you are switching from IT to accounting?
Posted from TSR Mobile
Original post by A47
The area of I.T. I am in I do not enjoy and it is not common place. Accounting seems like an industry that will serve my requirements. I have thought long and hard about this move. I just need advice to my OP.
PLEASE SEE MY RESPONSES IN UPPER CASE
1) I'm saying this without actually having any accounting exposure so I may change my mind once I've had a taste but once qualified I would like to be involved with discussions on the Business strategy, making suggestions on areas to improve/concentrate on, and gaining my communication skills again by participating in meetings (regaining softskills that I've feel I've lost being an IT techie in a shoebox) - CIMA wins?
I AGREE, I THINK CIMA IS MORE STRATEGY ORIENTED, WHILST ACCA IS BIASED TOWARDS TECHNICAL EXPERTISE. SO FROM A BUSINESS STRATEGY POINT-OF-VIEW:
CIMA - 60%
ACCA - 40%
2) I know the ACCA and CIMA supersedes a BSc degree but I have seen many HR depts using a degree as a filtering process. I understand ACCA have a degree programme with Oxford-Brookes, but do CIMA have one? - ACCA wins?
CIMA ALSO HAVE THE BA IN SUSTAINABLE PERFOMANCE (MANCHESTER MET UNIVERSITY). HOWEVER, COMPARING THE 2 DEGREES, THE OXFORD BROOKES HAS A EDGE, BECAUSE IF ITS BETTER TRACK RECORD.
CIMA - 40%
ACCA - 60%
3) I spoken with a training provider and the ACCA syllabus has been the same since 2007 but CIMA have revamped theirs for 2015. I understand this 2015 syllabus is much more difficult due to:
a) 50% passmark is now up to 70%
b) only 1.5 minutes to answer each question and many students just cannot answer all of the questions which means lower scores
c) now CIMA exams are computer-based you don't get half marks but instead you just get them correct or wrong, which will lead to lesser marks
d) if you fail CIMA you are not told by how much. It is simply pass or fail so you don't know if you were close
e) there are now three case studies to complete rather than one
f) for me there would be 17 CIMA exams to complete as opposed to 14 with ACCA. - ACCA wins?
I WOULD SAY THE CHALLENGE WITH STUDENTS AT THE MOMENT IS GETTING USED TO THE NEW CIMA EXAM STRUCTURE. BUT ONCE STUDENTS GET USED, I THINK THE CIMA EXAMS WILL BE EASIER THAN THE TRADITIONAL ACCA. YES CIMA HAS MORE PAPERS, BUT THEY ARE DEFINITELY EASIER, FROM A TECHNICAL POINT OF VIEW. BUT AT THE MOMENT, MAYBE:
CIMA - 45%
ACCA - 55%
4) I'm quite slow at writing (always type now) so maybe computer-based is for me, also if computer-based is multiple choice it may give you a clue to the answer more so than if you had a blank bit of paper in front of you. - CIMA wins?
I WOULD SAY FOR THE MORE TECH-ORIENTED STUDENTS, CIMA WILL BE SLIGHTLY EASIER. BUT I DON'T THINK IT WILL BE LONG BEFORE ACCA JUMP ON BOARD. AT THE MOMENT:
CIMA - 55%
ACCA - 45%
5) If starting ACCA or CIMA which will likely help me break into the industry to get the employer to fund me? - maybe ACCA wins?
I THINK IN INDUSTRY AND COMMERCE, EMPLOYERS VALUE BOTH QUALIFICATIONS RELATIVELY EQUAL. HOWEVER IF YOUR FUTURE ROLES ARE LIKELY TO BE COMMERCIAL OR STRATEGIC IN NATURE, THE CIMA QUALIFICATION MIGHT SLIGHTLY APPEAL BETTER, BUT IF YOUR ROLES ARE TAX, AUDIT OR STATUTORY REPORTING IN NATURE, THEN THE ACCA QUALIFICATION MIGHT HAVE A COMPETITIVE EDGE. BUT BROADLY SPEAKING:
CIMA - 50%
ACCA - 50%
To be honest, it is quite daulting making this career change but it is one I have thought long and hard about. I just need help/advice on which to take. I would've thought CIMA would be the one as it is more Management focused than number crunching which is where I want to head, but now I hear both are equally as important to reach that Business/Management engagement type role. This new CIMA syllabus seems much tougher. It is going to be a hurdle enough in itself to switch to Finance so I want to take the easiest approach as possible really. Also, worried Financial Accouting (ACCA) will be a little dry/wooden but then again that's why I'm on here asking you guys. One last point, I don't learn by reading black and white text and remembering it. I learn by watching examples as it's more engaging. I don't know if that makes a winning choice for me?
I THINK EITHER OPTION WILL BE TOUGH BUT WORTHWHILE IN THE END. CIMA IS TACTICALLY HARDER DUE TO THE NEW EXAM STRUCTURE, BUT ACCA IS TECHNICALLY HARDER, CONTENTWISE. YOU HAVE A TOUGH CHIOCE TO MAKE. WHEN YOU FINISH EITHER OF THE QUALIFICATIONS YOUR CREDENTIALS WILL BE AS FOLLOWS:
Your Name (BSc, ACCA)
OR
Your Name (BA, ACMA, CGMA)
I'M NOT SURE WHAT WOULD APPEAL TO YOU ?
BUT BASED ON YOUR BACKGROUND AND CAREER ASPIRATIONS, CIMA MIGHT HAVE A VERY SLIGHT EDGE, BUT I MIGHT BE WRONG! ALL I WOULD SUGGEST IS: DO NOT WORRY TOO MUCH , AS BOTH QUALIFICATIONS WILL MORE-OR-LESS GET YOU TO YOUR CAREER ASPIRATIONS, WITH A BIT OF HARD WORK!
ALL THE BEST
1) I'm saying this without actually having any accounting exposure so I may change my mind once I've had a taste but once qualified I would like to be involved with discussions on the Business strategy, making suggestions on areas to improve/concentrate on, and gaining my communication skills again by participating in meetings (regaining softskills that I've feel I've lost being an IT techie in a shoebox) - CIMA wins?
I AGREE, I THINK CIMA IS MORE STRATEGY ORIENTED, WHILST ACCA IS BIASED TOWARDS TECHNICAL EXPERTISE. SO FROM A BUSINESS STRATEGY POINT-OF-VIEW:
CIMA - 60%
ACCA - 40%
2) I know the ACCA and CIMA supersedes a BSc degree but I have seen many HR depts using a degree as a filtering process. I understand ACCA have a degree programme with Oxford-Brookes, but do CIMA have one? - ACCA wins?
CIMA ALSO HAVE THE BA IN SUSTAINABLE PERFOMANCE (MANCHESTER MET UNIVERSITY). HOWEVER, COMPARING THE 2 DEGREES, THE OXFORD BROOKES HAS A EDGE, BECAUSE IF ITS BETTER TRACK RECORD.
CIMA - 40%
ACCA - 60%
3) I spoken with a training provider and the ACCA syllabus has been the same since 2007 but CIMA have revamped theirs for 2015. I understand this 2015 syllabus is much more difficult due to:
a) 50% passmark is now up to 70%
b) only 1.5 minutes to answer each question and many students just cannot answer all of the questions which means lower scores
c) now CIMA exams are computer-based you don't get half marks but instead you just get them correct or wrong, which will lead to lesser marks
d) if you fail CIMA you are not told by how much. It is simply pass or fail so you don't know if you were close
e) there are now three case studies to complete rather than one
f) for me there would be 17 CIMA exams to complete as opposed to 14 with ACCA. - ACCA wins?
I WOULD SAY THE CHALLENGE WITH STUDENTS AT THE MOMENT IS GETTING USED TO THE NEW CIMA EXAM STRUCTURE. BUT ONCE STUDENTS GET USED, I THINK THE CIMA EXAMS WILL BE EASIER THAN THE TRADITIONAL ACCA. YES CIMA HAS MORE PAPERS, BUT THEY ARE DEFINITELY EASIER, FROM A TECHNICAL POINT OF VIEW. BUT AT THE MOMENT, MAYBE:
CIMA - 45%
ACCA - 55%
4) I'm quite slow at writing (always type now) so maybe computer-based is for me, also if computer-based is multiple choice it may give you a clue to the answer more so than if you had a blank bit of paper in front of you. - CIMA wins?
I WOULD SAY FOR THE MORE TECH-ORIENTED STUDENTS, CIMA WILL BE SLIGHTLY EASIER. BUT I DON'T THINK IT WILL BE LONG BEFORE ACCA JUMP ON BOARD. AT THE MOMENT:
CIMA - 55%
ACCA - 45%
5) If starting ACCA or CIMA which will likely help me break into the industry to get the employer to fund me? - maybe ACCA wins?
I THINK IN INDUSTRY AND COMMERCE, EMPLOYERS VALUE BOTH QUALIFICATIONS RELATIVELY EQUAL. HOWEVER IF YOUR FUTURE ROLES ARE LIKELY TO BE COMMERCIAL OR STRATEGIC IN NATURE, THE CIMA QUALIFICATION MIGHT SLIGHTLY APPEAL BETTER, BUT IF YOUR ROLES ARE TAX, AUDIT OR STATUTORY REPORTING IN NATURE, THEN THE ACCA QUALIFICATION MIGHT HAVE A COMPETITIVE EDGE. BUT BROADLY SPEAKING:
CIMA - 50%
ACCA - 50%
To be honest, it is quite daulting making this career change but it is one I have thought long and hard about. I just need help/advice on which to take. I would've thought CIMA would be the one as it is more Management focused than number crunching which is where I want to head, but now I hear both are equally as important to reach that Business/Management engagement type role. This new CIMA syllabus seems much tougher. It is going to be a hurdle enough in itself to switch to Finance so I want to take the easiest approach as possible really. Also, worried Financial Accouting (ACCA) will be a little dry/wooden but then again that's why I'm on here asking you guys. One last point, I don't learn by reading black and white text and remembering it. I learn by watching examples as it's more engaging. I don't know if that makes a winning choice for me?
I THINK EITHER OPTION WILL BE TOUGH BUT WORTHWHILE IN THE END. CIMA IS TACTICALLY HARDER DUE TO THE NEW EXAM STRUCTURE, BUT ACCA IS TECHNICALLY HARDER, CONTENTWISE. YOU HAVE A TOUGH CHIOCE TO MAKE. WHEN YOU FINISH EITHER OF THE QUALIFICATIONS YOUR CREDENTIALS WILL BE AS FOLLOWS:
Your Name (BSc, ACCA)
OR
Your Name (BA, ACMA, CGMA)
I'M NOT SURE WHAT WOULD APPEAL TO YOU ?
BUT BASED ON YOUR BACKGROUND AND CAREER ASPIRATIONS, CIMA MIGHT HAVE A VERY SLIGHT EDGE, BUT I MIGHT BE WRONG! ALL I WOULD SUGGEST IS: DO NOT WORRY TOO MUCH , AS BOTH QUALIFICATIONS WILL MORE-OR-LESS GET YOU TO YOUR CAREER ASPIRATIONS, WITH A BIT OF HARD WORK!
ALL THE BEST
Brilliant response, thanks. I like the way you gave the percentages for each qualification. Interestly, both ACCA and CIMA equal in the end.
For the past few months I was leaning towards CIMA but at the eleventh hour I'm now siding with ACCA. My reasons being:
1) Even though I feel I'm certain that I would like to find myself, once qualified, in a Management Accountant type role I feel ACCA will give me both practice and industry options once I know what I like in the Finance world. I also have the option to start my own practice with ACCA.
2) The option of a BSc degree is something I must go for.
3) I've heard many troubling things about the new syllabus and I feel I'm going to need all the help I can get making this switch, and I'm not going to want to be a guinea pig for the new CIMA syllabus.
4) From looking at the ACCA content I like how each exam is separated. Now, this could be purely wording but it is something I like.
5) I've heard many a time that ACCA (practice) gives one the foundations to become a great accountant. Ideally, my path would be to study ACCA whilst working in a practice to the learn the core/fundamentals strongly and then, if I decide, move in a management accountant role knowing I know the financial side very well to back up my management decision.
6) There seems to be a lot more ACCA tuition available on the web than CIMA content. This may say me costs in the long run.
These are my thoughts now but I've a long journey ahead of me and no doubt my thoughts will change.
For the past few months I was leaning towards CIMA but at the eleventh hour I'm now siding with ACCA. My reasons being:
1) Even though I feel I'm certain that I would like to find myself, once qualified, in a Management Accountant type role I feel ACCA will give me both practice and industry options once I know what I like in the Finance world. I also have the option to start my own practice with ACCA.
2) The option of a BSc degree is something I must go for.
3) I've heard many troubling things about the new syllabus and I feel I'm going to need all the help I can get making this switch, and I'm not going to want to be a guinea pig for the new CIMA syllabus.
4) From looking at the ACCA content I like how each exam is separated. Now, this could be purely wording but it is something I like.
5) I've heard many a time that ACCA (practice) gives one the foundations to become a great accountant. Ideally, my path would be to study ACCA whilst working in a practice to the learn the core/fundamentals strongly and then, if I decide, move in a management accountant role knowing I know the financial side very well to back up my management decision.
6) There seems to be a lot more ACCA tuition available on the web than CIMA content. This may say me costs in the long run.
These are my thoughts now but I've a long journey ahead of me and no doubt my thoughts will change.
(edited 8 years ago)
Hello all,
I have been following the CIMA Vs ACCA debate with some interest.
AGM1 - we are in a similar boat. I am also looking to switch career direction and have been looking at both Quals.
Out of interest, which did you plump for and why? Are you doing the self study route or going with a learning provider? What has been your experience so far?
I have been following the CIMA Vs ACCA debate with some interest.
AGM1 - we are in a similar boat. I am also looking to switch career direction and have been looking at both Quals.
Out of interest, which did you plump for and why? Are you doing the self study route or going with a learning provider? What has been your experience so far?
Doing cima with job it's really hard for me help me guy's
I am a very experienced ACCA teacher and I teach extremely well. I can tutor you from the beginning of ACCA over skype and you will pay me after each class.
Feel free to contact me.
Skype me on Skype at: ACCA Skype Tutor
or Facebook me at: Last Discovery
Feel free to contact me.
Skype me on Skype at: ACCA Skype Tutor
or Facebook me at: Last Discovery
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