Suppose you are an aspiring finance professional in Kuwait. In that case, you must find yourself divided between two internationally accepted qualifications, both offering career excellence and potential, but with slightly different goals and career paths. But what are these? These are ACCA and CIMA. This article will explain the ACCA vs CIMA in Kuwait, with a fair comparison of both, and help you to choose according to your interests and goals. Let’s read!
What are ACCA and CIMA?
Before diving into the difference, let’s break down what each qualification stands for
ACCA (association of chartered certified accountants)
For those interested in a profession in taxation, auditing, or financial accounting, ACCA provides worldwide education. With its headquarters in the UK, ACCA is a worldwide professional accounting association. It is well-established in more than 180 nations, including Kuwait. It is ideal for positions in corporate finance, financial reporting, and external auditing.
CIMA (Chartered Institute of Management Accountants)
CIMA is also headquartered in the UK with a core focus on management accounting, strategic planning, and business decision-making. It prepares candidates for roles in business strategy, performance analysis, and internal financial management.
While both qualification holds importance and global acceptance, tier application in the professional world differs.
Career paths of ACCA in Kuwait
There are different career paths after CIMA and ACCA. The career scope of ACCA in Kuwait is vast and continues to grow with the country’s ongoing economic needs. ACCA-qualified accountants are in demand in audit firms, multinational corporations, banks, and government entities.
- Auditor
- Tax consultant
- Risk analyst
- Finance manager
- Financial accountants
With the increasing alignment of international financial reporting standards, ACCA members enjoy broad acceptance in both the private and public sectors.
Career scope for CIMA in Kuwait
CIMA job opportunities in Kuwait are well seen in sectors that prioritize strategic finance, business development, and performance management. Many CIMA members find roles in
- Management Accounting
- Business analyst
- Finance business partner
- Strategic planner
- Cfo
Companies in oil and gas, logistics, telecommunications, and finance value CIMA professionals for their ability to align financial strategy with business goals.
If you’re wondering about ACCA vs CIMA for finance jobs in Kuwait, the answer largely depends on whether you prefer compliance-based roles (ACCA) or strategic finance roles (CIMA).
CIMA vs ACCA course structure
When comparing the CIMA vs ACCA course structure, understanding their study paths is essential for planning your career.
ACCA course structure
Acca has three main levels.
Applied knowledge
- Business and technology
- Financial Accounting
- Management Accounting
Applied skills
- Corporate and business law
- Performance management
- Taxation
- Financial reporting
- Audit and assurance
- Financial management
Strategic professional ( 4 exams, 2 compulsory and 2 optional )
- Strategic business leader
- Strategic business reporting
- Optional advanced taxation, advanced audit, etc.
Acca also requires an ethics and professional skills module and 36 months of practical experience for full membership.
CIMA course structure
CIMA is divided into four levels
- Certificate level
- Operational level
- Management level
- Strategic level
Each level has three parts: enterprise, performance, and financial. After passing the exams at a strategic level, candidates must complete the strategic case study and submit verified practical experience.
In summary, the CIMA vs ACCA course structure shows that both paths require rigorous study and real-world experience.ACCA leans towards technical and regulatory expertise, while CIMA leans towards strategic thinking and business acumen.
Difficulty level of ACCA and CIMA
A common question that must arise in the student’s mind that what is the difficulty level of ACCA vs CIMA? Both qualifications are challenging and need significant commitment. However:
- The range of financial accounting, auditing, and taxation covered in ACCA exams is well-known. They are frequently more technical and in-depth.
- Major analytical and decision-making abilities are necessary for the CIMA tests, which place a major emphasis on case studies, real-world applications, and corporate strategy.
Success in either depends on your learning style, career goals, and prior academic background. Students with a commerce or accounting degree may find ACCA slightly more familiar, while those with a business or management background may resonate more with CIMA.
ACCA vs CIMA Salary in Kuwait
When it comes to compensation, many wonder about the ACCA vs CIMA salary in Kuwait. While salaries vary based on experience, role, and company, here’s a rough comparison:
Role Average Salary (Kuwait)
ACCA Accountant KWD 800 – 1,500/month
CIMA Management Accountant KWD 900 – 1,600/month
ACCA Finance Manager KWD 1,500 – 2,500/month
CIMA Business Analyst KWD 1,600 – 2,800/month
In strategic or senior roles, CIMA professionals may command higher salaries, especially in business leadership positions. However, ACCA members tend to get better initial placements in audit firms and multinational corporations.
So, which is better, ACCA vs CIMA in Kuwait? The answer depends on your career focus. If you’re inclined towards auditing and external reporting, ACCA is ideal. If you’re more drawn to business planning and strategic roles, CIMA could be your best.
Conclusion
Selecting between ACCA vs CIMA in Kuwait is not only about which is superior, but also about which aligns with your career goals. Both of these qualifications are globally expected and can open doors for a growing career in Kuwait. If your goal is to become a financial expert with skills in audit, taxation, and compliance, ACCA is a perfect choice. On the other hand, if you are looking to climb the corporate ladder into strategic decision-making of CFO roles, CIMA might be suited to your ambitions. Consider your strengths, career aspirations, and the kind of work you want to do before making a decision.
Frequently asked questions
Which qualification is more in demand in Kuwait, ACCA or CIMA?
Both of these qualifications are in demand. However, ACCA is more common in audit and finance roles, while CIMA is preferred in management and strategic roles.
Is CIMA or ACCA very tough to pass?
No, it depends upon your background, ACCA is more technical, while CIMA needs strategic thinking and problem-solving skills.
What is the total expense difference between ACCA and CIMA in Kuwait?
Costs vary by the providers, but ACCA is often slightly more affordable. However, both need an investment in exams, registration, and study material.
Which qualification helps me become cfo faster?
If your goal is to get a CFO role, CIMA gives a more direct path thanks to its strategic professional and managerial focus curriculum.
