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Hi
I have chosen to do ACCA and am almost done with F4.
I am however suddenly concerned that I have chosen the wrong path i.e. may be I should have chosen CIMA.This is because I am generally more interested in management accounting as opposed to financial accounting. I enjoy the analytical nature of budgeting and forecasting my role ( I am currently finance manager of a charity).
For those of you doing ACCA, would you say the syllabus covers enough to enable to me to be a successful management accountant?
I feel like I’m early enough into it to make a switch to CIMA..
Your comments are much appreciated,.
Of course CIMA is a competition to ACCA.
I don’t have experience with studying CIMA but one day I took effort to have a look on different CIMA modules and syllabus. To be honest I haven’t found anything special that I would not be able to find in ACCA. Plus ACCA covers audit and taxes & your F4 Law. Optional professionals (P4-P7) I found very good because you can direct yourself in different professional paths.
I think the old misconception of two qualifications is still present:
1. CIMA – management accountants, more strategic, performance oriented bla bla
2. ACCA – financial accountants, bookkeepers, IFRS, IAS bla blaBoth qualification will have supporters and opponents. I treat them equally with the exception that ACCA covers some additional areas mentioned above which gives your broader scope of knowledge and competence.
In both CIMA and ACCA you will have to go through financial accounting in quite similar depth and breadth.
Opinion of someone who has been through both qualification would be the best.
(However personally I see no good reason for doing both unless you want to have more abbreviations in your CV)To sum up. Both qualifications will give you equal knowledge and competence to perform your role as described.
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