ACCA VS CIMA: A Quick Comparison
ACCA vs CIMA: While CIMA certification (Chartered Institute of Management Accountants) offers adequate training and a degree in management accountancy and various other related subjects, ACCA certification (Association of Certified Chartered Accountant) equips students with skills in accounts handling, management accounting, taxation, auditing, etc.
Reputable certificates in accounting and finance include ACCA and CIMA. CIMA is a combination of accounting and company management, therefore it goes a little beyond accounting in that it aids in developing decision-making abilities. As a result, both certification programmes are tailored to particular job profiles, and candidates must make their choice based on their professional goals.
What Are the Acquired Skills in ACCA and CIMA?
As was already established, the abilities that an ACCA acquires are very different from the skills that a CIMA acquires. Through their study process, ACCA professionals acquire solid technical knowledge of accounting and financial principles. On the other side, a CIMA professional has management and strategic decision-making abilities.
ACCA vs. CIMA: Duration
The typical length of the ACCA programme is between six months and two years. However, depending on the exemptions you receive and your rate of learning, you could finish this course in a year. You must pass 14 exams to become an ACCA, however you may be qualified for up to 9 test exemptions based on the accounting courses you have taken in the past.
But in order to get the designation of Global Chartered Accountant, you must also finish a required 3-year work experience.
A candidate for CIMA must pass 16 papers in total, separated into 4 parts. About three to four years are needed to finish. But if you have the right degree, you can get up to 11 exemptions and finish your CIMA exams in just two years.
ACCA vs. CIMA: Eligibility
Do you have any questions about the prerequisites for each of these courses? The difference, ACCA vs CIMA eligibility is explained here.
Students must have passed their 10+2 exams with an overall grade of 65% in Mathematics/Accounts and English, and a minimum of 50% in other courses, in order to be eligible to register for the ACCA qualification.
Students who have recently passed their class 10 exams or who do not meet the requirements listed above can still sign up for the ACCA course through the Foundation in Accountancy (FIA) route.
You require a class 10th passing certificate, an O-level, an intermediate, or an A-Level to join in the CIMA course.
With an undergraduate or graduate degree in any subject, you can also enrol in the course.
The optimum route is an MBA degree or a professional accounting qualification for a simple entry into the CIMA programme.
A quick comparison of ACCA vs CIMA reveals that both degree and certification programmes offer distinctive advantages to students. The students will advance in their jobs and improve as professionals in management, taxation, accounting, and other relevant sectors after successfully finishing the course and passing the exams. Join Mirchawala Hub of Academcy to receive professional ACCA and CIMA training. With our help, you’ll learn the material more thoroughly and be able to ace the test. Contact us now to know more about the courses.