Acca / Cima / What else?

suitcase

suitcase

suitcase

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Looking to perhaps study a professional accountancy exam soon- what is my best option? (I realise that's quite a vague question!)

What is the most popular course nowadays? What's the pro's and cons of each?

Probably would want to study at home rather than attend courses but understand if that is a problem. Also, I should say I do not have a relevent qualification (2.1 bsc computer engineering) so doubt I get any exemptions.

Any help will be appreciated!
 
All my mates who do accounting have done cima. They all study at home, a few of them do a 1-2 day study session a week before the exam.

Apart from that I have no idea.
 
If you're wanting to work in industry - eg the finance deprtment of a big manufacturing company then CIMA will probably be the best choice.

If you'd like to work in practice - in an accountancy firm, like me, then ACCA or ACA (ICAEW) will be the best option. I'm studying ACCA and took my last exams in June. The difference between ACCA and ACA is nothing really, although some people will tell you that ACA is still better.

They'll all have a similar number of exams and study requirements.

So really the option is between CIMA and ACCA or ACA
 
[TW]Fox;12087705 said:
Get a firm to pay for everything by joining them as a trainee. Most will welcome you with a degree.
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Yep, this is the best way. Weekend revision courses cost £500 so getting your emploer to pick up the tab is favorable to say the least. I have just started CIMA and have 4 exams this year, one exemption because I have a physics degree.
 
suitcase said:
Looking to perhaps study a professional accountancy exam soon- what is my best option? (I realise that's quite a vague question!)

What is the most popular course nowadays? What's the pro's and cons of each?

Probably would want to study at home rather than attend courses but understand if that is a problem. Also, I should say I do not have a relevent qualification (2.1 bsc computer engineering) so doubt I get any exemptions.

Any help will be appreciated!
Click to expand...

I have done ACCA and although CIMA is a good qualification you get more options with ACCA like practicing statutory audits, etc.

You can study at home but would recommend attending courses if you need to enhance your understanding.

Also, the BSc in computer engineering is not an issue as you may still get a couple of exemptions and can study the foundation accountancy exams yourself

if you have not already check out ACCA's website :)

http://www.accaglobal.com/join/why_acca/
 
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Yes, have looked over both cima and acca's sites. To be honest acca appears much more accessible to me- is that the case or have cima just got a more traditional structure?

Also, what is the best way to arrange this then- through HR I take it and simply let them arrange it for me? As far as I can tell from the online exemption section, I would not qualify for any....
 
Agree with Fox, join a firm instead. Several of my mates are doing postgrad courses and paying thousands for the privelage. I start training for my CA and CTA next month, will (with a lot of hardwork) gain a couple of great qualifications and get paid well too :D
 
suitcase said:
Yes, have looked over both cima and acca's sites. To be honest acca appears much more accessible to me- is that the case or have cima just got a more traditional structure?

Also, what is the best way to arrange this then- through HR I take it and simply let them arrange it for me? As far as I can tell from the online exemption section, I would not qualify for any....
Click to expand...

Yes, through HR/ training dept but you could point them in the right direction if you would like to go through a taught class for ACCA (e.g. using FTC/ BPP)

joining a firm is not a bad idea as they should pay for the courses and give time off, also, consider the public sector as well (Local government, NHS (where I am :)), Audit Commission, NAO, etc

I studied both at a firm and independently for my exams so it is flexible

don't worry about no exemptions as the foundation stage teaches from scratch and is at the relatively basic level
 
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I'm doing CIMA at the moment and about to start Professional Level (Managerial?)

Just on the back of this thread I want to ask, we get days off at work to do the lessons by BPP, and they do 2 papers at a time, is it feasible for me to do 3? I'd like to get this level done in a year rather than 18 months! Would it be too much? (while working obviously). I still get the revision days etc.
 
just finished CIMA, started it as it suited my career direction more than ACCA

you'll find that if not that much different in value ACA is quite cost heavy so mostly its just the large accountancy firms that offer it as a training option.

CIMA / ACCA as mentioned above are pretty similar in difficulty one focuses more on management techniques while the other on fianncial accounting.

Kappa, I did my first set of managerial papers 3 at a time, its intense but certainly possible if you are prepared to work at it. I got through it in 18 months

first time sat 3 - passed 3
second time sat 3 - passed 2
third time 1 resit.
 
At university (Warwick, doing Accounting & Finance), I have tried to take the modules that may get me exempt from the ICAEW (Institute of Chartered Accountants in ENGLAND & WALES) examinations once I graduate. I however is for if you are wanting to become an auditor or external accountant mainly.

I have got an internship with Ernst & Young for this summer and find it quite strange that they in fact want employees to take the ICAS (Institute of Chartered Accountants in SCOTLAND) examinations. I have been told this is due to the timing of the exams though and they are at a better time or something.

I know my aunty is going in for the management accounting side of things and she is doing CIMA.
 
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I studied ACA while working for Ernst & Young.

Working for a company while studying is far cheaper as they pick up the tab but don't expect them to lighten up on your workload. I got about a week off to attend a course for each exam and the exam day off. All other study has to be done off your own back and with a big firm they're working you to the bone already.
 
Hi,

I'm currently studying CIMA after having graduated with an accounting and finance degree (so I got a lot of exemptions).

One thing to remember is that you can't qualify without having three years relevant work experience. Even if you pass all your exams in no time at all you need to complete a log book detailing where you've put your knowledge into practice. Only then will you get your letters ( eg Mr Smith CIMA )

My employer is currently paying for my exams which workout at about £1000 for each one (a taught course, a revision course and an exam practice day).
 
Whichever one you go for, make sure you get a training contract somewhere. Just remember that you probably won't be able to leave midway through your contract without having to pay some kind of buy-out fee.
 
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