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Dear sir,
why do not you support for CIMA strategic exams ??
OR any advice for us sir ??
I am ACCA qualified and want to pursue for CIMA as well.
Thanks in anticipationWe are thinking about it.
I don’t understand why, if you are ACCA qualified, you want to pursue CIMA.
Dear Respected Sir,
I am a recently qualified at Association of Chartered Certified Accountants (ACCA-UK).
please advise me in this regard as i wanted to further develop and enhance my Chartered Accountant skills. As right now i am working in Finance Department of a well known construction company at its head office. I have already qualified ACCA with P4 & P6 exams but i thought CIMA would enhance my P4 skill set (in its Financial Strategy Paper) + Project management & strategic business management skills (in E3 & P3 exams) and also shall be able to have designations like Chartered Management Accountant (ACMA-UK) + Chartered Global Management Accountant (CGMA-UK).
I know in my career, there will be 80% contribution of ACCA and probably CIMA will only contribute for about 20%.
But the issue in my country (Pakistan), ACCA-UK is well recognized than any Msc Finance / Global MBA and same is in gulf states.
Even in UAE, ACCA alone is enough as currently their is an MOU between ACCA & AAA (UAE). Membership of one body entitles you to apply for the membership of other. Thats why ACCA membership provides you dual designations in UAE i-e ACCA, UAECA.
However, how to further develop ??
And pursuing for CFA also doesn,t mean something to me as i am never interested to work in financial institutions or a sector like this.
What should i study now??
Please guide me.
ThanksThere is a considerable overlap between ACCA and CIMA syllabuses. For example, I don’t think you would learn much more about financial management than you already covered on P4.
I would suggest that you identify an area that you are particularly interested in and where you might want to direct your career and to find an MSc or MBA course that fits. There are skills in these courses (for example some original research) which are not required for either ACCA or CIMA.
Dear ACCA Tutor,
I fully understand Muhammad Waqas’ dilemma.
The choice between ACCA and CIMA might not be about the content of their syllabi but about marketing. One qualification could be stronger in one country and vice versa, e.g. in South Africa, ACCA pulled out many years ago, during apartheid and CIMA remained in South Africa. ACCA only came back after apartheid was abolished. As a result, CIMA has a stronger presence than ACCA. Consequently, there are more CIMA jobs than ACCA jobs in the market.
Secondly, the local body has a cosy relationship with CIMA because they can never be in competition, as CIMA cannot do audits in South Africa. There is a lot of bad blood between SAICA and ACCA and all regulatory structures are controlled by SAICA. In a way, SAICA promotes CIMA in South Africa. So you will find ACCA members doing CIMA after completing ACCA, as though they are upgrading to a higher qualification.
It is also possible for an ACCA to qualify without having done P5 or P4. In the circumstance, CIMA would appear an attractive option after ACCA. If all papers were compulsory in ACCA, this would not have been necessary.
It will be interesting to see how the market reacts to the new MSc Professional Accountancy in South Africa.
ACCA does not have an attestation status in South Africa, I am not sure whether the market recognition strategy is sustainable, as both SAICA and CIMA are very aggressive in South Africa.
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