When it comes to Finance qualifications there are a few different options to choose from. We don’t blame you if you feel a little overwhelmed by the choice!
What’s the difference between ACCA qualification and a CIMA qualification?
We often get asked what the main difference is between an ACCA qualification and a CIMA qualification. Truth is, both are very respectable qualifications to achieve so you must choose what is best suited to you.
By taking on either of these qualifications you are demonstrating excellent commitment to your career and self-development. No matter which you choose, you will make a positive impact on your future either way.
That said, to help you work out which route to take we recommend asking yourself this question –
Would you like to work in industry, for a practice, for yourself or have the choice?
This is an important question to ask yourself as CIMA heavily focuses on management accounting and is therefore most relevant for Accountants who wish to work in industry. So if you have a vision of working for a large corporate one day – CIMA could be a good option for you.
However, ACCA could also be suited to you as it offers a broader approach to accountancy. It certainly won’t hinder your chances of working for a bigger organisation, but instead it also ensures that you have the skills to work as a self-employed accountant or within a practice. Therefore, if you’re somebody who wants to keep their options open this may be the way to go.
In every other sense, the qualifications are very similar. Let’s take a look –
- Both state similar entry requirements
- Both take a similar amount of time to complete
- Both have a similar number of exam papers to complete
Really, what this comes down to is your future goals. Before choosing between these qualifications, consider where you’d like to be in 5, 10 and 15 years’ time. Knowing your professional goals will help you come to the right decision for you.
Whichever route you decide to take, with an ACCA or CIMA qualification you’ll have a fantastic choice of career opportunities ahead of you.
If you would like more advice or are looking for an accountancy or finance role along the south coast then the Niche Partnership can help you. Click here to browse our live job vacancies.