Thinking of training to be an accountant. CIMA?

(14 Posts)
skinnyamericano Thu 10-Mar-16 13:47:04

I'm thinking of changing careers/going back to work and doing my accountancy exams (probably distance-learning).

Would CIMA be a good choice if I ultimately want to be self-employed?

It seems like a good choice if you are not currently working in finance, but I don't think you can sign companies' or individuals' accounts off with this qualification?

I'm going round in circles, so any advice would be greatly appreciated. Thanks.

OP’s posts: |
RudeElf Thu 10-Mar-16 13:50:24

Watching with interest. Same plans here and dont know where to start.

dayslikethis Thu 10-Mar-16 13:57:39

Are you planning on being a self employed auditor? If so then it would be CA you would need - not CIMA. CIMA is management accountancy so doesn't lend itself to self-employment and isn't suitable for doing audits etc...

thatstoast Thu 10-Mar-16 14:01:05

I used to underwrite mortgages for self employed people and we wouldn't accept accounts unless they were signed off by someone registered with ACCA.

BuffyFairy Thu 10-Mar-16 14:09:51

I'm CIMA qualified. You can sign off accounts that are exempt from audit. You'd need 3 years of practical experience in specific areas in order to qualify so would need to spend time in a management accounts role. I don't think it's the right qualification for you if you want to go into audit or private practice accounts. Have you looked at ACCA?

RicStar Thu 10-Mar-16 14:17:26

Do you have any accountancy experience? I think it would be hard to freelance without some preferably small practice experience. You could start with book keeping / AAT qualification and see if you enjoy it / can get work.

skinnyamericano Thu 10-Mar-16 20:04:33

Sorry for not returning until now - manic afternoon!

Thanks everyone, for your replies.

I thought I would do the CIMA certificate or ACCA first. I have a relevant degree, but need a bit of a refresher.

I have done payroll, sales ledger and various accounts for charities (as in Treasurer role).

After a proper read of your comments, I'll come back again. Thanks.

OP’s posts: |
skinnyamericano Thu 10-Mar-16 20:20:05

Sorry, not ACCA first, AAT.

OP’s posts: |
Floppityflop Thu 10-Mar-16 20:24:44

CIMA is for management accountants. You need ACCA or ACA. You could try the AAT or ACCA Foundation first. Remember you also need to get a job and have your training log signed off to be properly qualified.

skinnyamericano Thu 10-Mar-16 20:30:18

Thanks flippity - do you have to have your training log signed off by a special firm (I suppose what used to be the 'big 4', I think they were called?)?

I'm getting on a bit and am not sure they would want me!

OP’s posts: |
penguinplease Thu 10-Mar-16 20:33:24

Hi, no you don't need to work for a big 4 anymore.
Don't waste your time on AAT, go straight to CIMA or ACCA as their foundation papers are equivalent to AAT and lead straight into the professional exams.

skinnyamericano Thu 10-Mar-16 20:47:09

Great, thanks penguin. I'll have a more in-depth look at ACCA now.

OP’s posts: |
Toottoot22 Thu 10-Mar-16 20:54:59

I'm CIMA and self-employed. There are fewer CIMA accountants that are self-employed but it is doable. It depends on what you want to do. I offer management accountants to small businesses. CIMA accountants can't audit but can sign off accounts.

penguinplease Thu 10-Mar-16 23:34:34

Good luck, I wasted time doing AAT, wish I hadn't!

Join the discussion

To comment on this thread you need to create a Mumsnet account.

Join Mumsnet

Already have a Mumsnet account? Log in