ACCA to CIMA

Makkusu

Hi there,

Any accountants out there willing to offer their thoughts?

I'm 27 on around £40-45k working in practice (contractor accountant, overpaid for what I know imho). I've AAT & ACCA F1-F6 and 6 years experience.

I've been thinking of career changes for a while now and would like to pursue moving into Industry soon, I struggle with some aspects of ACCA as it really isn't what I want to do for a career (i.e. Audit!). I'm aware of a pay drop and willing to take it as I have belief in myself of reaching managerial levels with the right skillsets.

Questions is, is swapping to CIMA halfway through ACCA a good idea? As I understand it I'll get Certificate level exemptions and F1 in CIMA too. Does this look bad on paper or not as working as I think? Any input on making the industry switch is helpful.

SuzieSue

Makkusu wrote: »

Hi there,

Any accountants out there willing to offer their thoughts?

I'm 27 on around £40-45k working in practice (contractor accountant, overpaid for what I know imho). I've AAT & ACCA F1-F6 and 6 years experience.

I've been thinking of career changes for a while now and would like to pursue moving into Industry soon, I struggle with some aspects of ACCA as it really isn't what I want to do for a career (i.e. Audit!). I'm aware of a pay drop and willing to take it as I have belief in myself of reaching managerial levels with the right skillsets.

Questions is, is swapping to CIMA halfway through ACCA a good idea? As I understand it I'll get Certificate level exemptions and F1 in CIMA too. Does this look bad on paper or not as working as I think? Any input on making the industry switch is helpful.

This is quite a specialist question so I would post it on Accounting Web:

https://www.accountingweb.co.uk/any-answers

Kynthia

Are you wanting to swap because you think employers in industry will prefer you to have CIMA or because you are struggling with ACCA and think CIMA is more suited to you so you'll do better?

Generally loads of accountants in industry have ACCA and I don't know any people who started one and finished the other so it may need explaining at any interviews. However I doubt that it would be an issue.

Oakdene

Kynthia wrote: »

Are you wanting to swap because you think employers in industry will prefer you to have CIMA or because you are struggling with ACCA and think CIMA is more suited to you so you'll do better?

Generally loads of accountants in industry have ACCA and I don't know any people who started one and finished the other so it may need explaining at any interviews.

I have done it, but only because I was offered a job (which I accepted) & am now a management accountant so CIMA is more beneficial to me

Alice_Holt

As Kynthia - I don't think the exact qualification you have (ACA, ACCA, or CIMA) is as important as your personal fit to the organisation or your experience.

My inclination would be to complete the ACCA asap, then job hunt for a company that would support you through a MBA.

Lavendyr

Will your new employer support you through CIMA? You'd need to talk to them really. ACCA and ACA are in my experience viewed as more prestigious (though I've mostly worked in practice rather than industry so your mileage may vary!).

asajj

I must say, I know management accountants with ACCA. I also know financial accountants with CIMA. Somethings are not "that" different. If you are struggling with ACCA and think CIMA would be more suitable and easier, go for it obviously.I'm a PL controller and I have ACCA, never done audit work in the UK. After you gain experience, they usually look at what you have done at your last job (my personal experience at least, has been this way).

How would it look at interviews? This is usually about how you are able to explain it. If you simply say you are bored and couldn't be bothered then that's different. If you say, after working couple of years, you have realised/felt that CIMA would be more suitable and in line with your career goals therefore you switched, I can't see why anyone should be bothered with this.

Good luck whatever you do.