Member Article

Things to Know about ACCA & CIMA

You have probably noticed that there are many accounting qualifications to choose from. And you’ve probably wondered: ‘Which one is right for me?’ Focusing on two of the most popular in the world, the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA) both offer a steady stream of job opportunities and professional rewards.

However, choosing which qualification to pursue ultimately comes down to two questions you should ask yourself:

Am I more interested in business strategy and management?

Am I more interested in accounting and auditing specific careers?

If you answered ‘yes’ to the first question, you should consider studying CIMA. If you answered ‘yes’ to the second question, then studying ACCA is your best option.

The main differences between these two qualifications are directly linked to the type of careers graduates take on. CIMA graduates are trained to work as financial controllers and managing directors, while ACCA graduates are better skilled for working as tax advisors, auditors, and financial accountants.

If you’re still unsure about which direction you’d like to take, there are a few other points to consider before making your final decision. Let’s look at the benefits of each qualification:

ACCA gives you the chance to:

• Readily prepare for finance accounting roles.
• Gain easy access to different countries with a global qualification.
• Choose to work in private practice or independently.
• Change careers within the accounting industry.

CIMA gives you the chance to:

• Enjoy the prestige of joining the leading body for management accountants.
• Acquire essential business leadership skills to build a rewarding career.
• Choose from an array of leadership positions across various industries.
• Work in new global locations where CIMA qualifications are on the rise.

Keeping these points in mind, it’s important to realise that no matter your choice, you can be assured that given the global recognition of both qualifications, and their shared coverage of key finance accounting principles, you will graduate with the skills and confidence needed to excel in whatever career you choose.

So, why not take the next step forward and enrol on your qualification today?

Author: Emese Balogh

Source: http://www.studyinteractive.org/news/choosing-between-acca-cima/

This was posted in Bdaily's Members' News section by InterActive .