Accountants - ACA, ACCA, CIMA

[Posty]

is there a minimum requirement to start these, for example a minimum UCAS point or specific degree?

 

[Sukh]

I don't know for certain but I'd think there's a decent chance you'll be able to get involved in more at a smaller company than you would at a massive one, from that it might well come down to how well you sell yourself for your next job. Then again working at a Big 4 firm is somewhat unlikely to be looked on unfavourably.

You can get involved to any level you like at a big firm. They have big clients as well as small locals.

Hi again I'm back

I'm back with some very basic questions. I'm trying to work out exactly what does an ACA/ACCA do that an AAT cannot?
Apart from auditing what does ACA/ACCA give you over AAT?

Once again thanks for everyones excellent input

ACA will earn much more than an AAT qualified person on average.

 

[semi-pro waster]

is there a minimum requirement to start these, for example a minimum UCAS point or specific degree?

You don't need a degree for CIMA (and I believe it is the same for the rest) although it may give you exemptions, the best thing to do is to get in contact with the body of the qualification you are thinking of studying for and seeing what requirements they have. I think there's a fair degree of latitude available in what qualifications/relevant experience is considered suitable.

You can get involved to any level you like at a big firm. They have big clients as well as small locals.

Sounds great but are big firms always that willing to accede to the requests of their staff? I know small firms may not be either but by necessity there's a good chance you'd be exposed to more breadth of experience at a small firm since they're unlikely to have the specialised dedicated departments that large firms tend to. It's not an absolute I'm sure and you'd have to weigh up the potential for a more generalist working background vs a more directed approach as well as all the other positives and negatives that come with the small/large firm divide but it's merely something to consider.

 

[Sukh]

Sounds great but are big firms always that willing to accede to the requests of their staff? I know small firms may not be either but by necessity there's a good chance you'd be exposed to more breadth of experience at a small firm since they're unlikely to have the specialised dedicated departments that large firms tend to. It's not an absolute I'm sure and you'd have to weigh up the potential for a more generalist working background vs a more directed approach as well as all the other positives and negatives that come with the small/large firm divide but it's merely something to consider.

I could put it the opposite way, small firms are likely to deal with run of the mill accounting such as preparing accounts and auditing.

This is likely to be for small and medium sized firms, which would not have any of the interesting features of large multinationals. This results in you having a very narrow experience and knowledge set and be unfamiliar with the more interesting aspects.

 

[Pudney]

Apart from auditing what does ACA/ACCA give you over AAT?

Basically (and this is basic) ACA/ACCA will mean you can do everything better and ergo will get paid more for it. That may sound condescending but it is true.

 

[Kemik]

Don't forget the original Accounting qualification, CA from the Institute of Chartered Accountants Scotland. Same level as ACA.

 

[Deleted member 54091]

Meh, CTA is harder than any of the accountancy qualifications

But not as hard (or as lengthy) as the actuary one.

Its actually CFA, the pass rate is ridiculous

 

[Mercenary Keyboard Warrior]

ACCA/CA/CIMA are all higher than AAT.

Just read the real names and it gives you an idea what the people doing the exams are targetted at..... Association of Accounting Technicians vs Association of Chartered Certified Accountants

Real world difference in the top accountancy qualifications boils down to nothing after about 10 years for most employers, its very much about the person rather than the qualification. Historically more top jobs went to CA than the others but that was more to do with their origins and less the ability of the people. Its just like women in work, think back 50 years to top jobs virtually no women now lots, exactly same trend with accountancy bodies.

There are favourites and trends and old boy networks but generally any of the top bodies will give you a very good career if your upto it. The mistake many make is that they just aren't. Remember your entering a career full of intelligent people to stand out you need to be good.

CIMA have agreed the global tieup :
The governing bodies of AICPA and CIMA have agreed to create a new professional designation, the Chartered Global Management Accountant.

The new AICPA and CIMA joint venture will promote and establish the CGMA as the preeminent, globally recognised management accounting designation.


CIMAs take on vs the other main bodies (I would agree btw compared to friends/associates/work collegues/auditors etc I have worked with)

CIMA is focused on business
ACCA is focused on professional practice
CFA is exclusively concerned with financial analysis
CIPFA is focused on preparation for a financial role in the public sector
ICAA is focused on professional practice
ICAS is focused on professional practice

If you really want to work in one of those fields think about selecting the most relevant one, but again I stress it will make little diff long term if you have the right aptitude.

 

[Vonhelmet]

ACA will earn much more than an AAT qualified person on average.

Heavens, is that point even open for debate?

 

[Deleted member 54091]

CFA Exam Results December 2010 CFA Exam Pass Rate. Level I: 36%

doesnt that scare you

 

[Kemik]

Heavens, is that point even open for debate?

Slightly off topic but did you hear ICAS are doing their own tax qualification now? Some of the Big Four are drifting over there as it's more business focused than CTA apparently. 3 or 4 advisory papers instead of two (e.g. income, vat, corp).

Don't know all the details yet but it will be "as difficult" ha! Yeah right.

 

[Sukh]

Heavens, is that point even open for debate?

I dunno, he was asking a question about the differences and I thought for people not familiar with the topic and just see acronyms, it was important to point out