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Original poster

ACCA or CIMA?

11 replies

RightWhereYouLeftMe · 14/05/2023 08:18

I work for one of the big 4 in a finance associate role. As part of the role, they offer support/funding for either ACCA, or CIMA, but I'm not sure which I should do.

In my role, CIMA is maybe a bit more relevant (and it's what my manager has) but I don't know that I necessarily want to stay in this sort of role long term. It's not that I don't want to, but I don't know. I've only been in the role a few months. Across the people in my role throughout the company there is a split across the two in terms of what gets chosen, and it's a completely free choice as to what I do.

I've read through the syllabus for both but I can't decide which one I'd prefer. They both sound interesting - does it massively matter which I choose?

OP posts:
Logistria · 14/05/2023 13:49

If you definitely definitely want a career in management accounting/industry, then CIMA as it's the qualification for that specialism.

If you want to keep more doors open, then ACCA as it's suitable for both industry and practice. If you were looking at practice jobs in future, they usually ask for ACA/ACCA/CA qualified, rarely CIMA.

It sounds like you don't have a particularly clear career path in mind? In which case, personally I'd choose ACCA as it's the more transferable of the two.

Casilero · 14/05/2023 14:28

I did ACCA and most jobs seem to state either ACCA/CIMA or ICAEW. I've worked in both practice and industry, back and forth for the last 30 years now. Wouldn't you be better doing ICAEW though if you're Big 4? The only times I remember seeing a preference stated on job specs it does seem to have been for this one?

Original poster
RightWhereYouLeftMe · 14/05/2023 14:33

Casilero · 14/05/2023 14:28

I did ACCA and most jobs seem to state either ACCA/CIMA or ICAEW. I've worked in both practice and industry, back and forth for the last 30 years now. Wouldn't you be better doing ICAEW though if you're Big 4? The only times I remember seeing a preference stated on job specs it does seem to have been for this one?

Thanks, for my role ICAEW/ACA isn't one of the qualifications they support. I don't work in audit or tax, I work internally in a finance role and I guess these are the ones they think are most relevant.

OP posts:
Original poster
RightWhereYouLeftMe · 14/05/2023 14:40

Logistria · 14/05/2023 13:49

If you definitely definitely want a career in management accounting/industry, then CIMA as it's the qualification for that specialism.

If you want to keep more doors open, then ACCA as it's suitable for both industry and practice. If you were looking at practice jobs in future, they usually ask for ACA/ACCA/CA qualified, rarely CIMA.

It sounds like you don't have a particularly clear career path in mind? In which case, personally I'd choose ACCA as it's the more transferable of the two.

Thanks, yeah I don't think I'm totally sure what I'd want to do so maybe best not to limit my options. It's just such a time (and effort) commitment I don't want to choose the wrong one!

OP posts:
Casilero · 14/05/2023 14:46

Ah ok fair enough. I had to do ACCA as my office in practice wasn't a training office for ACA. I've not regretted it though. Although I did the practice route which will be different to yours, plus I qualified in 1996!

Logistria · 14/05/2023 19:10

In the interests of transparency, I'm ACCA qualified. Should have said that in my previous post.

I know people working in industry, public sector, and practice (including in practice management accounting roles like yours).

I cannot think of anybody I know who is CIMA qualified working in a non-management accounting role, whereas I know people with ACCA working across all of the above and including partner level.

Once you get to finals stage for ACCA you can choose the advanced papers in management accounting - or if you've pivoted your career by then you can choose different papers.

If you had your heart set on a career in industry/management accounting, I would have said go for CIMA.

Having read your updates it does sound to me like ACCA will give you future flexibility whilst equipping you with what you need for a career in your current discipline - but honestly I can't see that either choice is going to be catastrophic.

Aprilx · 15/05/2023 11:46

I qualified ACCA in 1996 and have held numerous senior finance positions over the year and been involved in a lot of recruitment.

The qualifications are deemed equivalent but ICAEW is the most prestigious and it is a shame you are not supported in that. I personally don’t think it really matters whether you do CIMA or ACCA, I cannot recall ever seeing a job advertisement being that particular.

minibanana · 15/05/2023 12:51

I did acca qualified 4 years ago applied to many Cima only roles and got them. Not sure if that helps. But it has been a very useful qualification:

minibanana · 15/05/2023 12:51

Meant to add I'm not sure you can apply to all ACCA roles with Cima though. So I'd go for acca again even though I mainly work in management accounts.

minibanana · 15/05/2023 12:52

And I agree icaew is 'superior' to both in terms of being recruited

TheWormThatTurned · 15/05/2023 12:56

Of the two, I'd personally go for ACCA - it's transferable to many areas of finance and a well respected qualification.
For reference, I qualified as ACCA over 20 years ago and it's opened so many doors including a stint working abroad.

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