ACCA/ CIMA studies

Minky2Slice

CIMA/ ACCA Qualification

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Sorry if this is posted on the wrong board, thought this might be the best one to post on.

I am in a bit of a dilemma: basically I am struggling to find any information for studying towards a CIMA/ ACCA qualification. I have checked out the CIMA website, but basically I need to speak to someone with personal experience.

I am struggling to make a decision as to wether to start studying for this or not. I will be working fulltime, basically i need to know more or less how long it will take me to complete this kind of qualification, seeing i will be going for evening classes part-time and obviously i will have a bit of spare time available on weekends... no children etc yet to keep me occupied!

Anyone with any recommendations or experience, i will really appreciate the help or advice!!!

THANKS

littleange

Hi there,

I have been studying ACCA whilst working in an accounting practice for about 3 years and am now doing my finals.

I have been studying by myself in my own time and paying for it all myself.

In my experience I have found it very difficult, motivating myself to study is hard, especially as I'm not enjoying it.

A lot of people I know doing these type of qualification's go to college to do them and they all seem to do much better, but it's very expensive if your employer isn't paying for it.

The qualification is changing a bit I think next year so it might be a confusing time to start ACCA.

New Qualification

chickadee

Hi Minky,

I am a CIMA-qualified accountant and although it is some time since I qualified and the syllabus has changed somewhat, the process and demands of study haven't changed that much.

Firstly, it isn't for the fainthearted. You will need to be very determined and single-minded to succeed as the exams will take you several years to complete. It is possible to do them at evening classes but as littleange said it is much easier if your employer supports you. However, having your employer's support can also add pressure, especially if they are paying and/or giving you time off.

However, you are in the best possible position to have a go. Do it before you have a family, otherwise it is ten times harder.

All this may sound a bit negative, but the rewards are well worthwhile. It is much easier to get a job in an accounting field with the letters after your name and the jobs you can apply for are well-paid. You may find yourself in a relatively senior position within a company fairly quickly and many CEOs have a finance background. You will probably be managing staff before you are fully-qualified and the profession is very well-respected. There are the old jokes about grey suits but don't be put off by that. Many accountants are very interesting people - honest!

ACCA or CIMA? Your choice really. ACCA will give you the option of working in practice doing audit and you will be able to sign off accounts. CIMA allows you to work inside a company and is, in my opinion more forward-looking. You will be working with the managers and directors of the business providing management information to guide the company forward. (Obviously I am biased.)

Hope this helps.

chickadee

Eoin_McLove

Speak to Louiseuk25, who posted in my recent thread about chartered accountancy. She's in her first year of CIMA, if I remember rightly. This forum might also be helpful: http://www.accountancystudents.co.uk/ The Prospects website also has a lot of information on careers in accountancy: http://www.prospects.ac.uk/cms/ShowPage/Home_page/Explore_types_of_jobs/Types_of_Job/p!eipaL?state=showocc&idno=352&pageno=5

Have you thought about doing the ACA instead, at all? Lots of firms take on trainee accountants to do the ACA, and indeed other qualifications. That way you get paid and get invaluable experience whilst you work towards your qualification. The ICAEW website has a list of vacancies: http://www4.icaew.co.uk/tv/index.cfm?fuseaction=firmresult

Louiseuk25

Have replied to your pm minky...hope i can be of help x