CIMA - Accountants and perhaps people who have done the course through ICS?

Kayalana99

Hiya guys,

Im looking to become an accountant but looking at ICS im pretty limited to this CIMA course as it has to be done at home and I can't really afford the OU fee's

My first question is this CIMA course enough? As I am not sure how degrees work and this says

"This course is the first step towards the CIMA Certificate in Business Accounting. "(1/5 papers to complete assume thats what they mean by first step) but as its a certificate does that mean I would be a qualifed accountant or is thier a next step I would need to take? I was under the impression 'certificates' wernt that high up when it came to degrees etc?

2nd I think I would be better suited to be a financal accountant to a management accountant but this course has management accountant in the title but has a paper on financal accountant does that mean I just learn both or would a CIMA only be used for one?

If anyone has done the course did you manage to find exam centers ok? I've been looking and it seems thier are only three that take outside canidates?! and it says to be warned that not all exam centers do all the papers...so its abit worrying...

Sorry if it seems I have no idea but thats why I am asking for advice !!


Thanks in advance.

Link to course; http://www.icslearn.co.uk/distance-learning-courses/cima-paper-1-fundamentals-of-management-accounting-online.aspx

Dogger69

The certificate is very basic, you would not be an accountant even after the five exams. CIMA is not for you if you want to be a financial accountant.

What qualifications do you have to date? Do you work in a finance related role?

Kayalana99

Dogger69 wrote: »

The certificate is very basic, you would not be an accountant even after the five exams. CIMA is not for you if you want to be a financial accountant.

What qualifications do you have to date? Do you work in a finance related role?

None basicly pardon GCSE's, I am currently working in a supermarket and a child on the way so I was looking for something I could do at home(5year time frame) whilst they are young so by the time they are both off to school I could go into a proper job...

Its a shame that wouldn't be enough as its a year a course so would take 5 years in theory... doesn't hurt to find out though.

Dogger69

Kayalana99 wrote: »

None basicly pardon GCSE's, I am currently working in a supermarket and a child on the way so I was looking for something I could do at home(5year time frame) whilst they are young so by the time they are both off to school I could go into a proper job...

Its a shame that wouldn't be enough as its a year a course so would take 5 years in theory... doesn't hurt to find out though.

The certificate courses can be done far more quickly, I took each of them after a week's classroom based course. The higher level papers will take far longer, but even then many take four a year (two at each sitting).

What do you want to achieve at the end of this? Do you want to go into employment or be self employed? To gain full qualification you will need experience, as well as your exams. Most people do take their exams whilst in employment.

Have a look at the courses offered by Kaplan - they are expensive but will give you an idea of your different options. Also, have you looked at student finance options for OU?

Tsmee

Hi,

I'm currently studying under CIMA.

As you say, you have to sit 5 exams to get the certificate level.

Then you have to pass another 3 at "operational" level to get the Diploma.

Then you have to pass another 3 at "management" level to get the Advance Diploma.

Then you have to pass another 3 at "strategic" level (can't remember what the qualification is called at this stage)

Then you have to pass a Case Study and submit a Career Profile showing you have enough practical experience in an accountancy field at "professional competence" level

and then you could claim to be a qualified accountant. Mind you, at the earlier stages, you can call yourself Part Qualified.

So, it's not easy!

It's not relevant for you, but if you've already got related qualications you might get exemptions or some of these, which helps.

Have you looked at ACCA instead of CIMA? I understand it's more financial focussed. Plus you say you want to study from home, so not sure if it helps, but have you thought about classes in the evenings or weekends? It's not cheap (~£500 to go to classes, with exam fee on top), but you pay for each one as you do it, not all 5 at once, say).

Don't know if this is helpful or depressing!

oog_boog

Hi there,

Would recommend you look at AAT (Association of Accounting Technicians), as they allow you to enter the realm of accounting and are done in levels; they will give you a flavor of where you want to go in terms of your professional career.

www(DOT)aat(DOT)org(DOT)uk

BPP & Kaplan do home study courses. You get relief in further study depending on how far you get with it.

Good luck,

Adil

Kayalana99

Thanks guys you've all been a big help!

Unfortuantly only allows me to do the basic level of CIMA on ICS then but I will look through all your suggestions and see if I can find something.

Its just about balancing fiance atm but if I didn't mention before I am pregnat with my 2nd child which is due in Oct so I couldn't be starting a course in Sept as it just wouldn't work even if it was just part time.

If all I can do is go to collage though I will have to wait till next year but so be it...

Perhaps I could look into doing the CIMA to start then finshing it off somewhere else but I would much rather do an ACCA if I did have a choice.

As for what I want out of it thier was a hope that if I did maybe 3/5 papers I could get a job as an assistant accountant or just something in that area part time so I would be getting the experiance but I doubt it would even be enough now considering I wouldn't be able to complete it at home study.

As far as I can tell thier doesnt seem to be any course with the OU anyway!
http://www3.open.ac.uk/study/undergraduate/qualification/business-and-management/accounting-and-finance/index.htm

Kayalana99

I've been looking at Kaplan and without looking into whether I can afford it it seems really unclear!

I assume if I did this course;

http://financial.kaplan.co.uk/TrainingandQuals/Accountancy/ACCA/courses/Pages/default.aspx

Or "Knowledge
(F1, F2, F3)

Skills
(F4, F5, F6, F7, F8, F9)

Essentials
(P1, P2, P3)

Options
(P4, P5, P6, P7)" ...I would be fully qualified?

But its very unclear if I need to do an AAT to start it as it says that if I have no prevouis qualifications I should do the final level of the AAT...but if I complete an AAT I can skip to skills...so it doesnt make sense to me at all if I NEED to do the final level of AAT to start the Acca ... (and why would I do the final level and not all of it? Wouldnt that be the hardest level? yet by doing the 'easier?' parts of the AAT I would skip the knowledge section of the ACCA..)

Ugh I dont no why they can't make these things clear...

MoneySavingUser

1. All the courses require that you have practical experience as well before you can become qualified - CIMA & ACCA require 3 years accountancy work experience, so you can't just take the exams and become a qualified accountant - you need work experience and have it signed off by a qualified accountant etc.

2. Doing something like AAT would probably be best for you as it is a good introduction and would give you exemptions from some of the ACCA exams if you decided you wanted to progress onto that

3. I wouldn't recommend someone like ICS

Go with a proven provider such as Kaplan or BPP (and more choices in London/South East like First Intuition/LSBF etc.)

4. Can you afford to do this - the courses and exams can be quite expensive

You are looking at £1000's even if you pass first time (some people need a few attempts at some exams)

5. Also look at Kaplan/BPP distance learning/online courses

6. There are a lot of people studying AAT/ACCA hoping to get a job like you so there is a lot of competition

CruisingSaver

In your position with only GCSEs and no relevant work experience I would start with AAT.

Why? Well the lowest level of AAT starts with the basics and builds your knowledge from there on the successive levels. It's also a well regarded qualification in its own right and if you decide not to pursue ACCA/CIMA then you will still have this qualification to put on your CV.

Gaining your qualification is only the first step in becoming an accountant and you will need relevant work experience in order to be taken seriously when applying for jobs.

Finance is a very competitive job market at the moment and I'd hate for anyone to think that gaining an accountancy qualification will necessarily lead to a job as an Accountant. I can't emphasise how important it is to have relevant work experience too.

CS

pinkypoopydoo

Have you looked at whether you would be eligible for funding with the OU? If you sit (and pass!) B291 (financial accounting) and B292 (management accounting) you gain enough credits to get several exemptions with AAT and CIMA, along with IAB and ICB.

They also do a bookkeeping course (B190), which gives exemptions with IAB, which does not require an exam, but just a final assessment which is done from home.