Training to be an accountant - which qualification best?

Pennywise

Speaking as an ACCA myself, I would have to say that I didn't find the study/examinations particularly useful and am glad that I didn't rely on them for my knowledge and understanding of accounts. Seriously speaking, I would say that over 90% of what I had to learn has been completely irrelevant and never used. What I am saying really is don't rely on any professional examinations to actually teach you what you need to know to do your job. On the job experience and training is far more valuable.

I think you really need to be looking at the practicalities of your options. Are there any local colleges offering courses for any or all of the options? Will your employer pay and give you time off to study or will you have to finance it yourself? Where do you see yourself in 10 years time - which qualification will help you to achieve that position?

If you hope to hit the big time in an accountancy practice, then you really have to go for the ICAEW/ICAS qualification as there is so much "snob" value in the ACA qualification you'll have a hard job climbing the greasy pole of the "big 4 accountancy practices" with ACCA or CIMA. However, the smaller and more flexible accountancy practices will probably be just as happy with an ACCA, though CIMA is probably not much use in accountancy practice without the practical experience as well.

If your future is in the private sector/industry, then I would say either ACCA or CIMA are comparable - I'd go with whichever one is more convenient for you to gain, considering costs, time, and training courses available.

If you want to go into the public sector, then the CIPFA qualification is far more useful as there is a VERY BIG difference between private and public sector accounting!