Discussion
Part qualified CIMA here. As mentioned above, I would concentrate on getting a finance role before studying further.
I have colleagues that study ACCA, and it the focus is financial accounting, which awsn't for me as I don't like the number crunching.
I have noticed that a lot of ACCA students value their qualification more the CIMA, and vice versa. I would disagree, as I see the two as complimenting each other rather than competing.
I have colleagues that study ACCA, and it the focus is financial accounting, which awsn't for me as I don't like the number crunching.
I have noticed that a lot of ACCA students value their qualification more the CIMA, and vice versa. I would disagree, as I see the two as complimenting each other rather than competing.
ACA here. This is also an option for those who are AATs. It is a very rounded qualification but more favoured for audit.
www.icaew.com
www.icaew.com
I'm feeling a bit defeated then as I have been applying for jobs for over a year and still no interviews. Not sure where to turn really. I've been putting off progression in my current job as i wanted to save all my energy for studying and focus on that area. If i continue with my current role i can only end up in sales/higher management. My ambition really is to become an accountant.
Any advice on getting your first accounting position in Nottingham, specifically? Not asking for much hey?
Thank you for all the replies.
Any advice on getting your first accounting position in Nottingham, specifically? Not asking for much hey?
Thank you for all the replies.
Ok I'm FCMA so I'm biased, although I haven't worked in accounts for 25 years, but I'm sure I read some years ago that only 5% of industrial companies in the UK would consider ACCA as their first choice, personally I would not employ an ACCA as I see it as some one who wanted CA and couldn't make it. My choice would be CA for practice CIMA for industry.
Berw said:
Ok I'm FCMA so I'm biased, although I haven't worked in accounts for 25 years, but I'm sure I read some years ago that only 5% of industrial companies in the UK would consider ACCA as their first choice, personally I would not employ an ACCA as I see it as some one who wanted CA and couldn't make it. My choice would be CA for practice CIMA for industry.
I have to disagree strongly with that and would almost look on it as an insult and defamation. No one here derided ANY of the other accounting qualifications until you posted this. I would request that this post be removed by a Mod as it is casting a slur on a fully recognised professional qualification - one granted a Royal Charter and one fully aithorised to sign off audited limited company accounts. I am minded to complain to YOUR professional body.
BERW - Admittedly CIMA is more relevant for industries (IIRC it used to be the Institute of Costs & Works Accountants). However there are an awful lot of companies that are not "industrial" companies. I would say that, because of its broader syllabus, ACCA allows you to work in a far wider range of organisations than either ACA or CIMA.
ACA and CIMA specialise in one area or another. ACCA covers both.
ACA and CIMA specialise in one area or another. ACCA covers both.
Berw said:
Ok I'm FCMA so I'm biased, although I haven't worked in accounts for 25 years, but I'm sure I read some years ago that only 5% of industrial companies in the UK would consider ACCA as their first choice, personally I would not employ an ACCA as I see it as some one who wanted CA and couldn't make it. My choice would be CA for practice CIMA for industry.
This was perhaps the case 25 years ago - it isn't now.I am currently studying ACCA, and have come from an Engineering background.
I can't really comment too much as to the ACCA v CIMA debate as I am not overly knowledgeable on CIMA. What I have gleaned however is that CIMA is far more focused and limited in its application. That is not to say it is any less relevant; it just depends on what you wish to do. Practice as an accountant in practice, or as an accountant within an actual organisation. My opinion (and that is all it is) is that with ACCA I could work in an organisation or as an accountant in practice. With CIMA I would be rather more limited.
The ACCA qualification does cover a very broad spectrum, and at the professional level you specialise in what you wish to do i.e. audit, tax, financial management or performance management. So you could focus on management accounting if that floats your boat.
For the ACCA you need to complete 36 months in relevant experience and complete several practical requirements. So you will need to get a job in Finance to achieve this. In doing so your studying will be vastly more understandable.
I do not know your personal experience, or the jobs your applying for, but the world is littered with part qualified accountants. So you may have to lower your expectations in both wages and position to get your foot on the proverbial ladder. Remember you are making an investment in your future and will have to make sacrifices to achieve your long term goals. I had to take a 2/3rds cut in salary to do this.
The starting rate for trainees can be as low as £12k. In the end of the day any employer taking on a trainee is taking a gamble in time and money, so you need to prepared to take anything just to get a start. Once you have done 6-12 months and got some experience your employment potential will be exponentially greater.
As for studying and working. It is possible, I do it purely through distance learning, but it is very time consuming and draining. That said I'm half way through and my grade average is in the 80s, so it is very possible.
Also the comment that ACCA v ICAEW/ICAS. That is complete nonsense. Granted that this was probably the case many years ago when men were men, and boats were made of wood. It is widely understood that they are of equal standing and the only ones that still purport that there is any difference are just completely out of touch with reality.
If you want any specific advice on studying, requirements etc... just PM me.
Hope this helps.
Mark
I can't really comment too much as to the ACCA v CIMA debate as I am not overly knowledgeable on CIMA. What I have gleaned however is that CIMA is far more focused and limited in its application. That is not to say it is any less relevant; it just depends on what you wish to do. Practice as an accountant in practice, or as an accountant within an actual organisation. My opinion (and that is all it is) is that with ACCA I could work in an organisation or as an accountant in practice. With CIMA I would be rather more limited.
The ACCA qualification does cover a very broad spectrum, and at the professional level you specialise in what you wish to do i.e. audit, tax, financial management or performance management. So you could focus on management accounting if that floats your boat.
For the ACCA you need to complete 36 months in relevant experience and complete several practical requirements. So you will need to get a job in Finance to achieve this. In doing so your studying will be vastly more understandable.
I do not know your personal experience, or the jobs your applying for, but the world is littered with part qualified accountants. So you may have to lower your expectations in both wages and position to get your foot on the proverbial ladder. Remember you are making an investment in your future and will have to make sacrifices to achieve your long term goals. I had to take a 2/3rds cut in salary to do this.
The starting rate for trainees can be as low as £12k. In the end of the day any employer taking on a trainee is taking a gamble in time and money, so you need to prepared to take anything just to get a start. Once you have done 6-12 months and got some experience your employment potential will be exponentially greater.
As for studying and working. It is possible, I do it purely through distance learning, but it is very time consuming and draining. That said I'm half way through and my grade average is in the 80s, so it is very possible.
Also the comment that ACCA v ICAEW/ICAS. That is complete nonsense. Granted that this was probably the case many years ago when men were men, and boats were made of wood. It is widely understood that they are of equal standing and the only ones that still purport that there is any difference are just completely out of touch with reality.
If you want any specific advice on studying, requirements etc... just PM me.
Hope this helps.
Mark
Berw's comment is so out-of-date and close minded it's not funny!
I am an FCCA and an audit partner in a "top-20" firm in London and we recruit graduates for the ICAEW route to qualification. Although there is some banter and jokes in the firm about whether ACAs (ICAEW) are better than ACCAs it is generally agreed that both qualifications on at similar quality levels. You will still get snobbery by ACAs at the large Big 4 firms but outside of them ACCAs are highly regarded. In fact our Senior Partner is an FCCA and so are many of our other partners.
Being an FCCA has not affected my ability to become an audit partner. Many of the larger audit firms use the ICAEW route so ACAs tend to get more audit experience while training but if an ACCA trains primarily in an audit environment they will be just as well suited to audit as ACAs.
We still have more partners who are FCAs than FCCAs but they are by no means seen or thought to be superior because of their ICAEW qualification. At the end of the day you will be judged by the quality of your work, dedication, hard work, ethics and the quality of your client service.
(In case anyone is wondering what is an FCCA/FCA compared to ACCA/ACA it means you are a "fellow" and have been a member for 5+ years)
I am an FCCA and an audit partner in a "top-20" firm in London and we recruit graduates for the ICAEW route to qualification. Although there is some banter and jokes in the firm about whether ACAs (ICAEW) are better than ACCAs it is generally agreed that both qualifications on at similar quality levels. You will still get snobbery by ACAs at the large Big 4 firms but outside of them ACCAs are highly regarded. In fact our Senior Partner is an FCCA and so are many of our other partners.
Being an FCCA has not affected my ability to become an audit partner. Many of the larger audit firms use the ICAEW route so ACAs tend to get more audit experience while training but if an ACCA trains primarily in an audit environment they will be just as well suited to audit as ACAs.
We still have more partners who are FCAs than FCCAs but they are by no means seen or thought to be superior because of their ICAEW qualification. At the end of the day you will be judged by the quality of your work, dedication, hard work, ethics and the quality of your client service.
(In case anyone is wondering what is an FCCA/FCA compared to ACCA/ACA it means you are a "fellow" and have been a member for 5+ years)
Edited by cailean on Saturday 11th December 10:35
Edited by cailean on Saturday 11th December 17:14
Eric Mc said:
Berw said:
Ok I'm FCMA so I'm biased, although I haven't worked in accounts for 25 years, but I'm sure I read some years ago that only 5% of industrial companies in the UK would consider ACCA as their first choice, personally I would not employ an ACCA as I see it as some one who wanted CA and couldn't make it. My choice would be CA for practice CIMA for industry.
I have to disagree strongly with that and would almost look on it as an insult and defamation. No one here derided ANY of the other accounting qualifications until you posted this. I would request that this post be removed by a Mod as it is casting a slur on a fully recognised professional qualification - one granted a Royal Charter and one fully aithorised to sign off audited limited company accounts. I am minded to complain to YOUR professional body.
Just asking...
Mr F
Mr Freefall said:
Eric Mc said:
Berw said:
Ok I'm FCMA so I'm biased, although I haven't worked in accounts for 25 years, but I'm sure I read some years ago that only 5% of industrial companies in the UK would consider ACCA as their first choice, personally I would not employ an ACCA as I see it as some one who wanted CA and couldn't make it. My choice would be CA for practice CIMA for industry.
I have to disagree strongly with that and would almost look on it as an insult and defamation. No one here derided ANY of the other accounting qualifications until you posted this. I would request that this post be removed by a Mod as it is casting a slur on a fully recognised professional qualification - one granted a Royal Charter and one fully aithorised to sign off audited limited company accounts. I am minded to complain to YOUR professional body.
Just asking...
Mr F
makes bugger all difference in reality- they getting more and more similar through the years
as long as you have a fully qualification for one of them then you'll be ok. if you look at most jobs addvertisied for Management/Financial accountant, and Above (ie FD, FC, senior analyst, CFO etc) they invariable require ACCA/ACA/CIMA professional qual PLUS experience in a relevant field.I could work for the big 4 with CIMA, and work in industry with ACCA with no problems.
Choose whichever course you find easier!
as long as you have a fully qualification for one of them then you'll be ok. if you look at most jobs addvertisied for Management/Financial accountant, and Above (ie FD, FC, senior analyst, CFO etc) they invariable require ACCA/ACA/CIMA professional qual PLUS experience in a relevant field.I could work for the big 4 with CIMA, and work in industry with ACCA with no problems.
Choose whichever course you find easier!
I have been ICAS qualified for a couple of years now and as far as I believe ICAS/ICAEW/ACCA are very similar and the difference in experience is more likely to come from the firm supporting the training contract and the area of specialism you work in. I have done nothing by Corp Finance since I started and I am still a CA but would probably struggle to do a CT tax return!!
But definately CIMA is industry related, as I understand CIMA doesn't make you chartered so you can't sign off accounts, be an auditor, be applicable to do JIEB insolvency exams etc
But definately CIMA is industry related, as I understand CIMA doesn't make you chartered so you can't sign off accounts, be an auditor, be applicable to do JIEB insolvency exams etc
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