royalmariner159
Badges: 3
Rep:
?
#1
Report Thread starter 1 month ago
#1
it there any different among these qualifications in term of knowledge and career development?
0
reply
PeterR123456
Badges: 7
Rep:
?
#2
Report 4 weeks ago
#2
All 3 accounting qualifications largely cover the same stuff content-wise.

If you work in industry, any qualification is accepted - a minority of employers may prefer CIMA more than ACCA, but all are accepting any kind of qualification.

If you plan to work in practice, then it depends. With CIMA, you can work in the accounts department (where you're preparing accounts on behalf of a client). But to work in audit, you should really have ACCA/ACA - those with the ACA qualification are preferred more because the qualification is more geared towards working in a practice (students are tested in a way where they are working for an accountancy practice and having to deal with issues on behalf of their audit client). Also, audit is tested in many papers, not just the audit and assurance paper.

So really depends on what you want to go for.

If you're not sure, then I would choose ACCA or ACA because that ay you're not limiting yourself to just industry jobs should you decide to work in audit or another field in the future.
Last edited by PeterR123456; 4 weeks ago
0
reply
royalmariner159
Badges: 3
Rep:
?
#3
Report Thread starter 4 weeks ago
#3
(Original post by PeterR123456)
All 3 accounting qualifications largely cover the same stuff content-wise.

If you work in industry, any qualification is accepted - a minority of employers may prefer CIMA more than ACCA, but all are accepting any kind of qualification.

If you plan to work in practice, then it depends. With CIMA, you can work in the accounts department (where you're preparing accounts on behalf of a client). But to work in audit, you should really have ACCA/ACA - those with the ACA qualification are preferred more because the qualification is more geared towards working in a practice (students are tested in a way where they are working for an accountancy practice and having to deal with issues on behalf of their audit client). Also, audit is tested in many papers, not just the audit and assurance paper.

So really depends on what you want to go for.

If you're not sure, then I would choose ACCA or ACA because that ay you're not limiting yourself to just industry jobs should you decide to work in audit or another field in the future.
thanks for your advise, so do anyone hold 2 or more accounting qualification, i also heard that CIMA is more focused on the management accounting and corporate finance compare to ACCA, and ACA focused more on financial accounting and audit compare to ACCA, it that true?
0
reply
PeterR123456
Badges: 7
Rep:
?
#4
Report 4 weeks ago
#4
Although I mentioned content-wise all the qualifications are the same, the way they are assessed are different - they're developing different skillset in the student. CIMA is more geared towards managing expectations of management, proving management information, so there is similar focus on Financial management, but even more emphasis on management account (as this is what the qualification is geared to). Whereas ACCA/ACA is more geared to audit, regulations, statutory reporting etc.

What is important to understand is that these professional bodies want their members to have a certain skill set that is relevant to the environment in which you will work - for example, a management accountant will have the capability to work in any kind of industry (as CIMA would assess the student in a way where they would develop this skill), whereas ACA would develop skills in their members to be able to enter any practice-related field and not just audit - for example, many fields in corporate finance (mergers and acquisitions, transfer pricing, tax, risk, advisory etc - the CIMA qualification wouldn't really prepare the student for these kinds of fields).

It really depends on what you want to do, so if you're interested in accounting generally, I would advise spending some time researching what kind of fields there are and what would suit you best. The last thing you want is to become CIMA qualified and realize you want to work in audit for example because then you'd have to do the ACA/ACCA qualification (you can only sign audit reports if you're ACA/ACCA qualified and meet some other relevant criteria).

If you're not sure, then I would consider ACCA as a potential route as ACCA members do have that flexibility and are acceptable in any kind of accounting discipline.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Have you made your mind up on your five uni choices?

Yes, and I've sent off my application! (247)
57.31%
I've made my choices but havent sent my application yet (57)
13.23%
I've got a good idea about the choices I want to make (47)
10.9%
I'm researching but still not sure which universities I want to apply to (37)
8.58%
I haven't started researching yet (24)
5.57%
Something else (let us know in the thread!) (19)
4.41%

Watched Threads

View All
Latest
My Feed