cima or acca?

[VenalWinfrey]

Hello.

I am thinking of taking an accounting qualification.  The two above have been suggested?  Which is better?  Is one higher than the other and what specifically do they cover?  If I want to rise within the company structure what's my best move?

 

Thanks very much any help appreciated!

[Sproutstick]

1) CIMA = The Chartered Institute of Management Accountants (previously The Chartered Institute of Cost Accountants to anyone who's interested!).

 

2) ACCA = Association of Chartered Certified Accountants

Depends where you want to go career-wise and what kind of infuence you want to have on the company for which you work.  I personally believe that CIMA is a more suitable course of study for people like myself who want have a direct influence on the business decisions that are made rather than just purely 'number crunching'.

 

Management accountants are specialists in the provision of information to managers in all kinds of business organisations.

The CIMA syllabus is orientated towards the accountant�s role as a member of the management team of an organisation, and covers a wider range of non-financial subjects.

In business, CIMA members are more likely to be found in general management roles.

Certified accountants can train in public practice (accountancy firms) or in industry. The ACCA syllabus, however, is orientated towards the accountant�s role in professional practice, with greater emphasis placed on financial accounting, audit and tax.

In business, they are more likely to be found compiling the financial accounts of the business or advising the company on its tax situation and on ways to invest its profits.

 

Hope this is useful??

 

Sproutstick

[Rach4018]

Hello,

I had this problem as well. I didn't know what to do whoever i spoke to told me the one they did was great and was the best. In the end i looked at both syllabuses and because i had done some accounting at uni, i choose the one i thought i had more knowledge of. Basically they are very similar for the first two years they teach you the basics and then you either go for more financial accounting or management accounting it depends which one you feel most confortable with. Most jobs advertised ask for CIMA or ACCA unless you specifically work for a practice. For example i do ACCA but have just got a new job where they asked for CIMA. Also if you decide you have totally chosen the wrong one you can probably change.