CIMA vs. ACCA

Organic12

I’m CIMA qualified but most of my roles to date have been in Financial Control so lots of work on accounting standards, reconciliations for account sign off, dealing with Auditors. The CIMA exams equipped me well to do these things. Only my current role is more Decision Support (and I love it). The teams I’ve worked in have always been really mixed, CA, ACCA, CIMA and AAT.

IMHO it’s not necessarily the qualification that matters, it’s your experience and what sorts of problems you’re naturally suited to dealing with. Of course there is an exception to that, if you want to become an Auditor or open your own practice, then you need ACA or ACCA.

As for where to study, BPP/Kaplan are used by the big companies as they get results. The teaching is very focused which why they can get through stuff in such a short time period. They teach you only what you need to know having analysed past exam papers and they get to know the examiners favourite topics. Maybe it's worth finding out the approach used at your local college?

You’re on the right track in looking for a relevant position. Hope that's of some use and Good Luck!

BCD

Thanks for the input, guys.

Once fully AAT qualified, what type of roles would be available to me?

If I did the AAT route, I would be 31 upon graduation. This means that I would do the CIMA/ACCA in my mid 30s. Is that pretty normal, or will I be a little old?

jessicamb

BCD wrote: »

Thanks for the input, guys.

Once fully AAT qualified, what type of roles would be available to me?

If I did the AAT route, I would be 31 upon graduation. This means that I would do the CIMA/ACCA in my mid 30s. Is that pretty normal, or will I be a little old?

I know people in their 40s who have done CIMA so you definitely wouldnt be alone!

Once you have completed AAT I think you would be able to work in most accounts preparation type roles wheras with CIMA you would probably spend most of your time on analysing performance and making recommendations for improvements. With ACCA you would do something similar but probably more time on producing complex accounts.

Why dont you have a look at some real job adverts and see how they sound to you?

This is an example of some AAT level jobs http://www.gaapweb.com/SearchJobs/SearchResults.aspx?Keywords=aat%20yorkshire

and this is an example of some qualified jobs

http://www.gaapweb.com/SearchJobs/SearchResults.aspx?Keywords=CIMA%20QUALIFIED%20-PART%20R79C0T0

If you dont know what any of the terms mean then post them here and I can probably explain most of them.

Let me know what you think.

Treading_Water

AAT would give you a great "in" to any role you wished to take on.
At some point through the training you would probably find the need for some experience - but with a bit of common sense much of this can be made up from situations around you.
AAT qualifications are sought after in many companies as they prove a certain amount of experience and capability, and many such companies would be willing to then sponsor you onto ACCA or CIMA as relevant.
If you prefer as an Accountant in practice with AAT qualifications - you would be able to work in any role in which you could prove competence and experience. These could be built up by working for small practices for a while, or even as self employed.
I spend a large amount of my time providing accountancy services to small businesses that don't have the funds or requirements for a full time bookkeeper/accountant/finance/business advisor, but need somebody once a week/fortnight or less often just to keep on top of things.
When I'm not doing that I am providing advice with self assessment, VAT, small business start ups.
Depends what you want to do - but it works for me around children and school holidays, etc.

cakys

mandyc wrote: »

If you study at a local college/uni and you have not already got a degree it may be possible to get help towards your fees via your local education authority. You have to complete a form PTG1.

Link here http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/FinanceForNewStudents/DG_10034863

At our local Uni both CIMA and ACCA courses are £225 per paper. This is for tuition only. You have to pay for membership of the professional body, buy the course text (aboutn £30/40 I think) and pay your exam fees but I think it compare very favourably to the prices charged by the private providers.

Ring your local college and ask them for advice as to which is best to study in your situation taking into consideration what you want to do eventually.

Goodl luck.

Costs can be quite high for text books depending on who you buy from. For the ACCA there will be 14 compulsory subjects/exams to pass, with 2 additional electives. In total, each exam text book can genuinely cost around £30-£40 per book, plus delivery. In some cases it goes up to an additional £40 for global delivery. Remember ACCA is a globally recognised qualification. However, go to www.tonysurridge.co.uk and they have course books for the ACCA at so much cheaper!

The explanation that was given to me once before concerning relevant qualifications in the industry: In one extreme you have the "layperson" who knows nothing about accounting. In the other extreme you have the qualified professional either in ACCA or CIMA. Beforehand, there was no middleground, so they invented the AAT (the Association of Accounting Technitians) which is a recognised qualification in accounting, but just not as high as ACCA or CIMA. And they weren't called professionals, they would be classed as Technicians. That method can be a lot quicker to accomplish and possibly a lot cheaper... if you're trying to decide which route to take.

Myself... I'm an ACCA person.

knowledgepower1

I wish I'm qualified ACCA now...I have failed so many times! but if I can read/study more I would ace those exams. You have to be able to study and focus as in no distractions....