Cima Vs Acca

[CyRaX]

Hey Guys

I just finished my A/L's in June,I was considering in to the Investment and Financial side and I'm currently involved in stock trading.I was considering these 2 options ACCA and CIMA.What I actually want to know is the difference between these 2 options,which qualification would help me better in stock trading,which qualification is better recognized and has a greater demand in the home market as well as in the foreign market.And what do you personally think about these 2 options.I really need you help

Thanks in advance

[Crosswind]

Hey Guys

I just finished my A/L's in June,I was considering in to the Investment and Financial side and I'm currently involved in stock trading.I was considering these 2 options ACCA and CIMA.What I actually want to know is the difference between these 2 options,which qualification would help me better in stock trading,which qualification is better recognized and has a greater demand in the home market as well as in the foreign market.And what do you personally think about these 2 options.I really need you help

Thanks in advance

Personally I haven't done any of these qualifications but I do have contacts with the country managers of both these bodies. CIMA is an established mainstream qualification, whereas ACCA is still in the process of getting established in Sri Lanka. ACCA is getting a couple more teaching partners in the next few months.

From what I know, ACCA is pretty tough and the processes of gaining membership, getting exemptions etc are very rigid.

What you can probably do is, follow CIMA and then do a top-up to a degree (there are few top-up degrees coming up in the near future for accounting qualifications), get a job in a company of your interest and then do CFA or an MBA in Finance or both.

In the local market, CIMA seems to be appearing in job ads more than ACCA. However, it all depends on how you convince the potential employer. Having worked overseas, I know for a fact that employers in western countries don't give a damn about all the qualifications that you possess (yes... nobody really gives a damn if you have 3 Masters, 7 MBAs and a double PhD ).They only look at your knowledge and how you present yourself. However, if you are interested in the middle east market, you may have slightly better luck with CIMA.

On a related note, I got to know that some private educational joints are getting ready to sell PhD degrees in Sri Lanka... duration is like 1 year and cost is like 3 million ... and the best part is there's hardly any research in it

What a country!

[Sifaan]

Hey Guys

I just finished my A/L's in June,I was considering in to the Investment and Financial side and I'm currently involved in stock trading.I was considering these 2 options ACCA and CIMA.What I actually want to know is the difference between these 2 options,which qualification would help me better in stock trading,which qualification is better recognized and has a greater demand in the home market as well as in the foreign market.And what do you personally think about these 2 options.

if you're asking from the context of trading, either of them would be more than sufficient to understand quarterly/annual financial statements. probably CIMA would be better overall because it has more of a management angle than just accounting. however, you might be better served by doing courses that investment advisors @ broker firms do - neither CIMA or ACCA will give you the info on all the ratios/charts used by traders. I don't what's available locally, but I know one guy who left for a 2 year program in the UK.

You might also consider a degree in Finance.

[AbeysinghE]

Hey Guys

I just finished my A/L's in June,I was considering in to the Investment and Financial side and I'm currently involved in stock trading.I was considering these 2 options ACCA and CIMA.What I actually want to know is the difference between these 2 options,which qualification would help me better in stock trading,which qualification is better recognized and has a greater demand in the home market as well as in the foreign market.And what do you personally think about these 2 options.I really need you help

Thanks in advance

In normal terms the ACCA is a Financial accounting qualification whereas CIMA is Management Accounting.If you are involved in the share market i personally believe that CIMA scope is away from what you already engaged in,Coz CIMA is valuable If you have an idea to join industrial accounting which involve cost accounting ,pricing,etc.

ACCA and CIMA both are UK qualification well recognized all over the world in it's respective subject scopes.They both are covering two different areas.If you are engaged in stock trading I think ACCA would be more suited for you.If you are further interested to upgrade your qualifications as a financial analyst you can do CFA after ACCA with some exemptions.

Both these qualifications have a greater demand in foreign markets.To achieve the membership is a hard journey. But once you get there you will feel the pleasure of having great opportunities with very good pay.Just recommended ACCA coz I'm a proud new member of ACCA now.

people may say that CIMA covering a greater scope as the more management involved in that, But I should say it's more of a industrial management than financial management.

Edited June 16, 2011 by AbeysinghE

[mazda axela]

Guys, can you advice me. With the Software Engineer background can we follow the CIMA.

Edited June 16, 2011 by mazda axela

[AbeysinghE]

Guys, can you advice me. With the Software Engineer background can we follow the CIMA.

Yes you can.you may not get any exemptions ,but you are free to start CIMA :rolleyes:I have seen many civil engineers also following CIMA as an extra qualification.

Edited June 16, 2011 by AbeysinghE

[CyRaX]

Thank you for all your comments .I owe you guys .Got another question.Is it possible or will it be worthwhile if I do both,because according to my father you could get to a CEO position with CIMA,and if you do ACCA maximum would be a finance director,or is there any other option I could take up with CIMA,if I want to get-in-depth in the share market.

Thanks in Advance

[DVT]

In normal terms the ACCA is a Financial accounting qualification whereas CIMA is Management Accounting.If you are involved in the share market i personally believe that CIMA scope is away from what you already engaged in,Coz CIMA is valuable If you have an idea to join industrial accounting which involve cost accounting ,pricing,etc.

ACCA and CIMA both are UK qualification well recognized all over the world in it's respective subject scopes.They both are covering two different areas.If you are engaged in stock trading I think ACCA would be more suited for you.If you are further interested to upgrade your qualifications as a financial analyst you can do CFA after ACCA with some exemptions.

Both these qualifications have a greater demand in foreign markets.To achieve the membership is a hard journey. But once you get there you will feel the pleasure of having great opportunities with very good pay.Just recommended ACCA coz I'm a proud new member of ACCA now.

people may say that CIMA covering a greater scope as the more management involved in that, But I should say it's more of a industrial management than financial management.

I think this answers your queries to a greater extent.

As he said your your area is CFA.

However it is a big call you need to make if you are going for CFA whether to take CIMA or ACCA as the path or even ICA for that matter.Because each of this body are not offering you the membership on a nice plate.

You need to work harder and harder to earn the membership.(that's why they are paid well

Now the issue is once you get the membership of these ...........it's another big journry to complete CFA. Believe me CFA is extreamly tough. Don't even think unless you do are an extremly hard worker. (belive me it's a different ball game all together).

For your information the approximate time taken for ICA/CIMA/ACCA to complete and get the memebership ,as follows

ICA - 4 YRS +

CIMA/ACCA - 2 to 4 years

Assumption - you are above avaerage of the majority.

CFA again will take about another 4 yers to complete. so that you are takling of 8 years

My advice is to log in to CFA site and choose the easiest way to enroll with CFA (remember CFA is MBA equivalent program)

Hope this is fine.

If you really really want more. Pls let me know (may not be able to answer your quesries for the next two days since I am taking my team out for a outbound training and communication to outside world is totally prohibitted unless extreamly urgent)

You may PM me

DVT

[Watchman]

On a related note, I got to know that some private educational joints are getting ready to sell PhD degrees in Sri Lanka... duration is like 1 year and cost is like 3 million ... and the best part is there's hardly any research in it

What a country!

If this man can be a doctorate, anyone else who even sits in a classroom for a year would be a worthier candidate for a Phd.

Edited June 17, 2011 by Watchman

[Elvis_Pil]

Mods these sort of forum topics are just ridiculous- I mean its fine having interesting 'life-style' type topics not related to automotive- but discussions on accountancy qualifications?? Its crazy to try and plan you're future out based on the opinions of people on an online forum and IMO is a sign of laziness in not wanting to do the analysis you're self.

Edited June 17, 2011 by Elvis_Pil

[Pericles]

Mods these sort of forum topics are just ridiculous- I mean its fine having interesting 'life-style' type topics not related to automotive- but discussions on accountancy qualifications?? Its crazy to try and plan you're future out based on the opinions of people on an online forum and IMO is a sign of laziness in not wanting to do the analysis you're self.

I think its one of the weirder topics to be seen on the forum too, but its upto members to realize what is appropriate and not when posting. There really should be other forums for discussing this sort of thing. But its not against the rules, its in the lounge, so I'm just ignoring it.

edit : Besides, Dilesh just put up the post of the morning on this thread

Edited June 17, 2011 by Pericles

[rameez]

Mods these sort of forum topics are just ridiculous- I mean its fine having interesting 'life-style' type topics not related to automotive- but discussions on accountancy qualifications?? Its crazy to try and plan you're future out based on the opinions of people on an online forum and IMO is a sign of laziness in not wanting to do the analysis you're self.

but it is much better than some of the threads in recent past...this gives some information to the forum.......

[Watchman]

Mods these sort of forum topics are just ridiculous- I mean its fine having interesting 'life-style' type topics not related to automotive- but discussions on accountancy qualifications?? Its crazy to try and plan you're future out based on the opinions of people on an online forum and IMO is a sign of laziness in not wanting to do the analysis you're self.

I know, what's he thinking...getting the 'public' opinion rather than go talk talk to some people who know the trade and its requirements. Anyway, its his future.

Lately we have a lot of people on the forum (not specific to this thread alone) who've been expecting to be spoonfed everything they want.

[AbeysinghE]

Thank you for all your comments .I owe you guys .Got another question.Is it possible or will it be worthwhile if I do both,because according to my father you could get to a CEO position with CIMA,and if you do ACCA maximum would be a finance director,or is there any other option I could take up with CIMA,if I want to get-in-depth in the share market.

Thanks in Advance

If you do both, Why not ,that will be worth, but the question is can you do both parallel? I think you better start either CIMA or ACCA and then complete one..then with the exemption you can do the other one.But you will be granted few few exemptions in each qualification as they both are different.If you want some management background attached to you ACCA qualification you can do ACCA+MBA or you can do CIMA+MBA i think that would be more easier than completing both.

[Crosswind]

Thank you for all your comments .I owe you guys .Got another question.Is it possible or will it be worthwhile if I do both,because according to my father you could get to a CEO position with CIMA,and if you do ACCA maximum would be a finance director,or is there any other option I could take up with CIMA,if I want to get-in-depth in the share market.

Thanks in Advance

Your father has a point here because ACCA is a very technically in-depth qualification while CIMA covers a broader scope, which is more useful for real life. That's why I am biased towards CIMA.

Having said all that, to be a CEO, you need more than CIMA or ACCA or MBA or whatnot. You need to demonstrate that you are CEO material and that only comes with your work skills and experience.

If you do both, Why not ,that will be worth, but the question is can you do both parallel? I think you better start either CIMA or ACCA and then complete one..then with the exemption you can do the other one.But you will be granted few few exemptions in each qualification as they both are different.If you want some management background attached to you ACCA qualification you can do ACCA+MBA or you can do CIMA+MBA i think that would be more easier than completing both.

If you complete CIMA, you can get exemptions from 5 papers of ACCA. But I personally think that's not worth at all and like you said, the kid is better off trying to do an MBA or CFA.

[CyRaX]

Hey thank you DVT,stiffan and AbeysinghE.And DVT,yes i'll PM if i hve anything else to clarify.Thank you

Edited June 17, 2011 by CyRaX

[CyRaX]

Mods these sort of forum topics are just ridiculous- I mean its fine having interesting 'life-style' type topics not related to automotive- but discussions on accountancy qualifications?? Its crazy to try and plan you're future out based on the opinions of people on an online forum and IMO is a sign of laziness in not wanting to do the analysis you're self.

Hey elvis

I do not want to get in to big fights as we see in some topics,okay...and yes this is a non-related topic,but then why has the site got a section called the lounge?The reason I asked the question in autolanka is because I could not find any other local site who's got educated members,I cannot go askingn some members in sites like El@k1ri right.And I did go and speak to these people personally,they would never understate there qualification when comparing with another right,in other words they tend to be bias towards there qualification,so I needed a 3rd party opinion on this view,and that this the reason I needed the help of the members in this forum who are educated unlike members in a few other local sites.Thank you DVVT and AbeysinghE again.I DID NOT go against the forum rules,so I would appreciate if the people who are not willing to help me,keep away from replying.No hard feelings Thank you

Edited June 17, 2011 by CyRaX

[Skyline R33]

I would say go for CIMA because if you ever wanna migrate to a country like Aus, you can get a CPA if you are a FCIMA and CPA is recognised in many countries and you get paid well for it too. I finished my Bcom and I'm following CPA. But doing both CIMA and ACCA at the same time will be quite tough unless you are willing to make some sacrifices.

[CyRaX]

Your father has a point here because ACCA is a very technically in-depth qualification while CIMA covers a broader scope, which is more useful for real life. That's why I am biased towards CIMA.

Having said all that, to be a CEO,you need more than CIMA or ACCA or MBA or whatnot. You need to demonstrate that you are CEO material and that only comes with your work skills and experience.

If you complete CIMA, you can get exemptions from 5 papers of ACCA. But I personally think that's not worth at all and like you said, the kid is better off trying to do an MBA or CFA.

Hey thank you crosswind.Yeah once I saw in a magazine a director of the metropolitan group saying in oder to succeed in todays enviroment you should be experienced in multiple aspects.I might consider doing a MBA not CFA because actually i'm not a hardworker

[CyRaX]

I would say go for CIMA because if you ever wanna migrate to a country like Aus, you can get a CPA if you are a FCIMA and CPA is recognised in many countries and you get paid well for it too. I finished my Bcom and I'm following CPA. But doing both CIMA and ACCA at the same time will be quite tough unless you are willing to make some sacrifices.

Hmm yeah you've got a point.I think i'll be considering CIMA

[Gayan Weerakoon]

WTF????

[Elvis_Pil]

Hey elvis

I do not want to get in to big fights as we see in some topics,okay...and yes this is a non-related topic,but then why has the site got a section called the lounge?The reason I asked the question in autolanka is because I could not find any other local site who's got educated members,I cannot go askingn some members in sites like El@k1ri right.And I did go and speak to these people personally,they would never understate there qualification when comparing with another right,in other words they tend to be bias towards there qualification,so I needed a 3rd party opinion on this view,and that this the reason I needed the help of the members in this forum who are educated unlike members in a few other local sites.Thank you DVVT and AbeysinghE again.I DID NOT go against the forum rules,so I would appreciate if the people who are not willing to help me,keep away from replying.No hard feelings Thank you

I prefer to follow the direction set by the Mods rather than get into 'big fights' with kids FYI. And frankly cant be bothered replying any further, I've said what I've said and will not change that opinion.

[CyRaX]

Yeah I would preffer if you had never commented if you could not help me.

[toyota sucks]

As this is autolanka not higher education lanka i decided to post this

[CyRaX]

Hey I know you,you were the guys who got the award for the ''Most retarded troll'' right,oh god what an achivement...congratz ...................poor thing