ACCA,CPA,CIMA,CPA pros and cons of each

timetogetfit

what are the pros and cons of doing the exams with the above bodies?which would you choose or have chosen and why?

brucy9

Cpa exams are in april and august in think. supposed to be the best of them for awarding exemptions but you cant really work aboard with them as far as i know.think its more irish recognised.
cima is more industry type exams.cant work in a practise. you can work aboard with it.exams may and november
acca is both industry and practise.can work aboard.can pick off exams one by one.exams june and decmeber
aca can work both industry and practise but are fixed to 3.5 year contract that you cant break.you must sit for exams at each sitting.most widely recognised of the 4.
they say after 5 years as a qualified accountant it doesnt matter which qualilification you get.
So prob whichever body gives you must exemptions you should go for.

Bren1609

Do ACA.

gordotempo

Yes do either ACA or CPA. The other 2 are not rated as much. ACCA has really diluted their qualification in recent years going for quantity rather than quality. With CIMA your just confining urself to indusrty and are less likely to work in practice. Also, if you want to do tax exams later on, you will receive no exemptions with CIMA.

MartMax

here it goes again... :rolleyes:

anyway, before you decide which you wanna do - consider your studying/exam skills, your career objective - simply ask which one will suit yourself.

imho, it is not fair to grade a professional qualification like ACA, ACCA, CPA, CIMA or whichever it is, being lack of quality or such.

Yes, there hv been debates in the past, so here is the list. If anyone can tell me who win(s)?


CPA vs ACCA
http://www.boards.ie/vbulletin/showthread.php?t=2055149525
http://www.boards.ie/vbulletin/showthread.php?t=2055142602
http://www.boards.ie/vbulletin/showthread.php?t=2055027150 (In USA!)

ACCA chartered?
http://www.boards.ie/vbulletin/showthread.php?t=2055141565

ACA vs ACCA
http://www.boards.ie/vbulletin/showthread.php?t=2055094195
http://www.boards.ie/vbulletin/showthread.php?t=2055138345

ACA vs ACCA vs CPA
http://www.boards.ie/vbulletin/showthread.php?t=2055027317 (Love Triangle)

AITI vs Everyone
http://www.boards.ie/vbulletin/showthread.php?t=2055055168

Qualification recognised in both Ireland & USA
http://www.boards.ie/vbulletin/showthread.php?t=2055114546

Marty

p/s: maybe mod can make this sticky? to OP, sorry if i made the impression that i'm spoiling or hijacking the thread.

timetogetfit

I was attracted to the ACCA because its ment to be the best if you want to work abroad in places like aus

smcgiff

gordotempo wrote: »

ACCA has really diluted their qualification in recent years going for quantity rather than quality.

Seemed to have enough quality to keep you out. ACCA has probably the lowest pass rates going. If it were merely a numbers game they'd pass all and sundry, and you'd now have ACCA after your name.

gordotempo

timetogetfit wrote: »

I was attracted to the ACCA because its ment to be the best if you want to work abroad in places like aus

Are you going to work in oz for the rest of your life? Apart from that ACCA is recognised in places like malaysia and singapore

Maybe the reason the pass rates are so low in ACCA is because the majority of students dont have english as a first language... the exams are set in english.

ACA is better recognised than ACCA. I would go then for CPA then ACCA and finally CIMA.

Thats my two cent.

swayner

Their is good accountants and bad accountants in everybody and at the end of the day thats the most important thing.
I would recommend that one does the A.C.C.A. qualification for a number of reasons.
1 Largest body
2 Flexible Contract
3 Flexible Exams
4 Charted body.
At the end of the day either A.C.C.A. or A.C.A. are the same as after 5 years membership to either body you can apply for membership to the other body as both are charted bodies.
Also both bodies recieve exemptions for the C.P.A. Qualification which is see as a bit of a joke among the accounting bodies.
C.I.M.A. is totally Industry related and while alot of accountants working in industry are CIMA Qualified the majority of Accountants would be ACA/ACCA qualified as CIMA is more of a Financial Management Qualification rather then a Financial Accounting Qualification.
I know all of the above is true as Im a qualified Accounatant whom works in industry and I have also worked in Public Practise and the majority of my friends would be doing different accounting qualifications

shewasoctober

I would say research all and see which one suits you best. Also, deoending on where you work, you may have to go with the one the firm requires, expescially in the bigger firms.

CPA: While they are good, you must consider that they are the least recognised worldwide, though I'm sure there is a process in having it transfered, and their qualification isn't recognised by HETAC. However, they do tend to give you the most exemptions.

ACA: Recognised by HETAC as level 9. It is the most recognised qualification in Ireland. It is recognised worldwide. It had a high pass rate. It is structured, so there is less for you to worry about; however, that means you are in a 3.5 year contract and have to sit 4 exams each year, but the study leave is GREAT, even better with the bigger firms!

ACCA: I'd say this is the most flexible. It's also great if you're looking to get your first set of exams out of the way before training because you don't have to sit 4 exams together and can sit exams in December and June. Also, there is no 3.5 year contract requirement. The qualification is recognised worldwide and by HETAC at level 9. Also, if you are a mature student who doesn't have a degree, you have the option of completing a project for a BSc (Hon) in Applied Accounting throgh Oxford Brookes University. However, I've heard the study leave isn't great.

CIMA: Great for industry and is recognised abroad. However, other than that, I don't know much about it.

In all honesty, you need to go where you are comfortable, and a small firm will usually tell you that. Plus, having trainess pursuing different qualifications is a bonus for them because then study leave isn't taken at the same time by everyone.

Stabshauptmann

brucy9 wrote: »

aca can work both industry and practise but are fixed to 3.5 year contract that you cant break.

Thats not entirely true. You can switch firm or take a year out but will need your training firm to sign off on your experience to date.

Stabshauptmann

shewasoctober wrote: »

ACA: ... however, that means you have to sit 4 exams each year, but the study leave is GREAT, even better with the bigger firms!

the ACA introduced a new modular system where by you can elect to take less than 4 exams at year sitting.

ACCA: ... there is no 3.5 year contract requirement.

But remember it is a requirement that you gain 3 years supervised relevant experience in addition to passing the ACCA exams before you will be qualified.

Stabshauptmann

Mods can we sticky this please with mart max's post as the OP.?

Fishyfreak

Quoting the CPA Website:


"The Institute of Certified Public Accountants in Ireland (CPA) is one of the main Irish accountancy bodies with in excess of 5,000 members and students. The CPA designation is the most commonly used designation worldwide for professional accountants and the Institute’s qualification enjoys wide international recognition. Its current Membership operates in Public Practice, Industry, Financial Services and the Public Sector and CPAs work in over 28 countries around the world.

The Institute is active in the profession at national and international level participating in the Consultative Committee of Accountancy Bodies – Ireland – CCAB (I) and together with other leading accountancy bodies the Institute was a founding member of the International Federation of Accountants (IFAC) – the worldwide body. The Institute is also a member of the Federation des Experts Comptables Europeens (FEE), the representative body for the main accountancy bodies in 25 European countries."

So who's going to tell me that it isn't widely recognised worldwide. The b*****ks written in this section of boards is laughable. Full of little snobs who i'm sure tell everyone they meet "Ohh roysh did I tell ya i'm going to be an accountant with the Top 4 no less......."

All of the qualifications mentioned by the original poster are top quality and people who have undertaking them have my utmost respect.

Stabshauptmann

swayner wrote: »

...

Didnt notice this till now

shewasoctober

Kaptain Redeye wrote:

But remember it is a requirement that you gain 3 years supervised relevant experience in addition to passing the ACCA exams before you will be qualified.

Yes, this is true. The contract issue is really only relevant for certain people. I mean, if you are serious about qualifying and absolutely commit to one firm for 3.5 years, then it doesn't matter whether you are in contract or not. I think some people factor in because of currant family situations, especially career changers, or because some just are afraid that they might not like the firm, though it will be rough no matter where you go.

Fishyfreak wrote:

So who's going to tell me that it isn't widely recognised worldwide. The b*****ks written in this section of boards is laughable. Full of little snobs who i'm sure tell everyone they meet "Ohh roysh did I tell ya i'm going to be an accountant with the Top 4 no less......."

I'm not saying it isn't a wonderful degree. I was originally going to do the CPA, but I then I got in with a Big 4 where I am required to study with the ACA. That is fine with me. I would've been happy with either. I think the CPA does need to market themselve better to show they are internationally recognised. With the ICAI and the ACCA, they are all about the recognisition and have major bodies in many countries. In the US, the CPA letters are well recognised, but they aren't associate, at least not directly, with CPA Ireland. Also, I know some people who have been concerned about the HETAC recognistion, something the CPA hasn't applied for, I'm sure if they would, that they would get the level 9 recognistion as well. Also, something people may not realise, the CPA and ICAI were on the verge of merging, the only reason it didn't go through was because they couldn't come to an agreement on CPD course. I've also heard the CPA exams are quite difficult, but I haven't sat any, so I can'r vouch for that.

Anyway, like I said before, I believe the most important thing is that you seek the qualification that best suits your needs. Screw everyone else. Your doing for you, not them.

Fishyfreak

Shewasoctober, I'm not having a pop at you directly. It's at some of the posts in this section of boards in general that i've read over the last few months.

I think that all of the accounting qualifications deserve respect. I agree that HETAC recognition should be a priority for CPA Ireland.

In my job we have ACA, CIMA, CPA, ACCA, CIPFA, IATI etc. The qualifications have no bearing on the intelligence of the people themselves. As long as the work is up to standard nobody cares what letters you have after your name (if any).

Baby4

This post has been deleted.

shewasoctober

Fishyfreak wrote: »

Shewasoctober, I'm not having a pop at you directly. It's at some of the posts in this section of boards in general that i've read over the last few months.

I think that all of the accounting qualifications deserve respect. I agree that HETAC recognition should be a priority for CPA Ireland.

In my job we have ACA, CIMA, CPA, ACCA, CIPFA, IATI etc. The qualifications have no bearing on the intelligence of the people themselves. As long as the work is up to standard nobody cares what letters you have after your name (if any).

I know your post wasn't directly directed at me. I just decided to explain a little more because I do agree with you and felt my previous post didn't give all the info I intended, and I also felt I didn't show that I find all equal difficult and respectable.

I hope the CPA makes certain things a priority in the near future. It would be intersting to see how it affects which bodies people register with.

Bren1609

Baby4 wrote: »

This post has been deleted.

No it's not. Chief executive and other council members of CPA are mostly chartered accountants. Also, the same examiners for some CPA papers also set equivalent ACA papers. Bear in mind that it was ICAI that wanted to merge with CPA just a couple of years ago.

broad minded

man cpa is the best option because you are in ireland so think about ireland.any way what ever you do think twice,thrice ...

broad minded

i think whatever you do go ahead for it.at the end of day ACA,ACCA and CPA they all are the same.The main thing is accountancy experience .

smcgiff

Well done, Broad Minded. Resurrection worthy of religious devotion. CPA perchance?

patmartino

It does not matter what Accountancy qualification you pick, as you can purchase the others after you qualify and use their lettering after your name.

smcgiff

once upon a time...

Not anymore

mr_edge_to_you

I'm a Cima head.

I opted for CIMA for a variety of reasons:

1. I like working in industry. Working in practice is definitely not for me. I love going down the factory floor and doing jobs that require a good knowledge of what's actually happening in the factories. I think it's more exciting than working in practice. Plenty of variety.
2. I think CIMA allows move diaganolly in an organisation. I know of CIMA people who have gone to HR and Operational roles in industry.
3. I think CIMA is more business oriented than ACCA/ACA. There's a nicer balance of management v financials which suits me.
4. CIMA is globally recognised.
5. Got more exemptions for it than ACCA.

smcgiff

Edge,

I think what you've posted above goes for all accountants as we get older.

Most of the accountants I know are ACCA and none are in practice. Most started out in practice for sure, but have moved on.

Likewise for the move outside pure accountantcy - for example in my current job I'm head of Admin as well as finance.

The ACCA syllabus I completed was very management focused. Just because you've got 'management' in your title!

More globally recognised than ACCA!?!

RE point 5 - ACCA clearly have higher standards!

To my mind point 5 is the reason you choose CIMA and are retrospectively trying to justify it.

mr_edge_to_you

smcgiff wrote: »

The ACCA syllabus I completed was very management focused. Just because you've got 'management' in your title!

More globally recognised than ACCA!?!

RE point 5 - ACCA clearly have higher standards!

To my mind point 5 is the reason you choose CIMA and are retrospectively trying to justify it.

I don't think anything of the fact that my title has "management" in it. I genuinely believe that ACCA and CIMA very very close in many regards, however I beleive that each teaches you a slighty different skillset - ACCA lacks in "management" it makes up for "technical accounting" - if that makes sense.
it's a different skillset but just as tough/valuable and I have the utmost

I think that ACCA and CIMA both hold the same significance internationally - I never said that CIMA was more recognised globally than ACCA. Not for one minute do I think that CIMA is is anyway better than ACCA. Like I said respect for ACCA/ACA heads.

Re the exemptions - I would have gotten one less if I applied for ACCA. That's hardly an issue so I wouldn't be making any reference to standards. The college I went to has an excellent accounting reputation which is why the exemptions were so good for ACCA/CIMA/ACA and CPA. They were across the board at the time. I think it's changed now though. I put it down as a reason for my decision but it is far from the main reason I opted for CIMA.

I chose CIMA because things like advanced taxation, auditing, corporate reporting are not appealling to me. The CIMA sylabus of Risk&Control Strategy,Business Strategy and Financial Strategy are far more interesting to me. I knew before I left college that CIMA was what I wanted to do. All through college I never enjoyed the nitty gritty financial accounting subjects (financial reporting,auditing,tax etc) but I loved marketing, IT, financial management, business management and management accounting. My decision was made long before I sussed out the exemptions issue.

smcgiff

mr_edge_to_you wrote: »

I don't think anything of the fact that my title has "management" in it. I genuinely believe that ACCA and CIMA very very close in many regards, however I beleive that each teaches you a slighty different skillset - ACCA lacks in "management" it makes up for "technical accounting" - if that makes sense.
it's a different skillset but just as tough/valuable and I have the utmost

I think that ACCA and CIMA both hold the same significance internationally - I never said that CIMA was more recognised globally than ACCA. Not for one minute do I think that CIMA is is anyway better than ACCA. Like I said respect for ACCA/ACA heads.

Re the exemptions - I would have gotten one less if I applied for ACCA. That's hardly an issue so I wouldn't be making any reference to standards. The college I went to has an excellent accounting reputation which is why the exemptions were so good for ACCA/CIMA/ACA and CPA. They were across the board at the time. I think it's changed now though. I put it down as a reason for my decision but it is far from the main reason I opted for CIMA.

I chose CIMA because things like advanced taxation, auditing, corporate reporting are not appealling to me. The CIMA sylabus of Risk&Control Strategy,Business Strategy and Financial Strategy are far more interesting to me. I knew before I left college that CIMA was what I wanted to do. All through college I never enjoyed the nitty gritty financial accounting subjects (financial reporting,auditing,tax etc) but I loved marketing, IT, financial management, business management and management accounting. My decision was made long before I sussed out the exemptions issue.

Fair enough - Although there's plenty of marketing, IT and management accounting in ACCA also. Not sure if it was there when you were making your decision.

Should also point out that I didn't do advanced Tax or Advanced Audit, I did the management papers. ACCA gives the options to do different streams in your finals.

boredatwork82

ACA/ACCA - pretty much similar. ACA people will say ACA is better and ACCA will say ACCA is better.

My opinion if you are interested in going into practice pick one of these. I wouldn't which it is. Although it may depend on what your employer wants you to do.

CIMA - If you want to go into industry pick this, although you can get into industry with the others aswell, but CIMA will give you an extra edge in applying for and winning jobs. As I said in a previous thread, I got my last job over other people because I was CIMA.

CPA - Looked down at by all other bodies, but will suffice if you decide to work outside of Dublin, but in Ireland.

But the real choice is do you actually want to be an accountant?
1.its a hard work and a pain in the hole to get qualified.
2.We don't earn as good money as people think.
3. Its the most de-moralising and boring job ever.


As for which is the easiest, none of them are easy, they all require a lot of work and effort and commitment to pass.

This topic has been talked about loads so just browse through them, and chat to your boss. As some one said after you qualify and get loads of experience and move up the ranks a bit, its probably not relevant which one you did.