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Professional Accounting Bodies - Discussion and Comparisons

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Comments

  • #52
    DoraExplora
    Registered Users Posts: 60 ✭✭DoraExplora


    Thanks mydiscworld, but CIMA exams are industry based while CPA / ACCA are similar as they are more practice based so would be easier to transfer. There's about 5 exams to become fully CIMA qualified post ACCA exemptions. Just thinking of doing 3 of them, but not sure if it'll be worth it or if they are really hard?


  • #53
    lukayl
    Registered Users Posts: 15 ✭lukayl


    DoraExplora wrote: »
    Hi,
    I'd like your views on doing CIMA exams post ACCA. I have the ACCA exams done 7 years ago, but being in the job market again and wanting to update knowledge I was looking at the CIMA exams. Getting exemption to management level and doing 3 exams E2 P2 F2, would give an advanced diploma in management accounting.

    The course structure is changing in 2015 to computer based/case study.
    Are these exams really tough/ would it be worth it?

    I am looking to move into industry.
    Thanks
    I think you have two options:
    1. depends on what optional papers you did in ACCA. If you did P6 and P7 to qualify, you can sit the P4 and P5 papers to round up your knowledge. These two are more industry related.
    2. If you did P5 in you final optional stage, and/or you still want to further enhance the performance/enterprise side of the skill-set, you can do the CIMA professional gateway.
    Please note, beginning from next year, CIMA will use new syllabus, which in my opinion, is very interesting and geared further towards commercial. It looks like you will study and take the exams in new syllabus. Pass mark will be 70% for the three papers for each of the three levels (in MCQ/ gap briefing, ect computerised format) and 60% for each of the three case studies for each level (essay questions written on computers). From the Gateway, your ACCA membership will grant you the Management level papers. Then you will need to pass the level 2 case studies to progress to level 3 until qualify.


  • #54
    Chartered Accountants Ireland: Careers Team
    Company Representative Posts: 13 Verified rep ✭Chartered Accountants Ireland: Careers Team


    Hello, I would like to update the information in the first post regard the Chartered qualification, namely in relation to this paragraph:

    "Elevation Programme – A recent development from CAI (moving it closer to ACCA’s structure) in that you can study for CAI exams without being in a contract). You pay for your own study, but must eventually enter a contract and serve your time before becoming a full member."

    This is incorrect, as you don't need to enter into a contract. We no longer use the name "Elevation", it is now called the Flexible Option and allows students train and qualify outside of a training contract.

    If anyone has any questions, you can send me a PM.


  • #55
    mydiscworld
    Registered Users, Registered Users 2 Posts: 797 ✭✭✭mydiscworld


    Update on 2014 pass rates here

    http://www.boards.ie/vbulletin/showthread.php?p=95389385#post95389385


  • #56
    Morshed13
    Registered Users Posts: 13 ✭Morshed13


    If you want to stay in Ireland, then i would say go for ACA. Because it is more focused on Irish business, laws and taxation, and you will get the best value in Ireland.

    But if you are looking to work abroad, then i would suggest you do ACCA or CIMA depending on which sector attracts you more. Since these are global degrees and have presence in many countries, it would be better for you to go for ACCA or CIMA if you intention is to work abroad. Otherwise ACA would be obviously the best choice for anyone as it is the most prestigious accountancy qualification.


  • #57
    mr_edge_to_you
    Registered Users, Registered Users 2 Posts: 3,146 ✭✭✭mr_edge_to_you


    Morshed13 wrote: »
    ........ACA would be obviously the best choice for anyone as it is the most prestigious accountancy qualification.

    No it's not.


  • #58
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    mr_edge_to_you wrote: »
    No it's not.

    It is to them though...! ;)


  • #59
    frankythefish
    Closed Accounts Posts: 339 ✭✭frankythefish


    is the aca, cpa and acca all level 9 on framework? and cima also?


  • #60
    tanit
    Registered Users, Registered Users 2 Posts: 325 ✭✭tanit


    frankythefish wrote: »
    is the aca, cpa and acca all level 9 on framework? and cima also?
    I'm pretty sure they all are.


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  • #61
    Baby4
    Closed Accounts Posts: 1,407 ✭✭✭Baby4


    This post has been deleted.


  • #62
    Board.surf
    Registered Users Posts: 179 ✭✭Board.surf


    I've decided to pursue ACCA. It provides felxibility for those with more than 2 ongoing obligations i.e work, family, young kids, volunteer work. 4 exams, 1 at a time per year. It's also quite cheap.

    For CPA I unfortunately came to the conclusion that it did not suit me, even though they offered more exemptions. Not one recruiter was comfortable approaching me having put CPA on my CV. It's sad really.

    CAI. Well, I wanted to, but nobody has taken me on and I would rather not pay the hefty fees right now.

    All 3 seem great, but it really depends on your background, aspirations and current setup.

    (The cpa to acca question as asked above. ACCA give very few exemptions for CPA).


  • #63
    Will Yam
    Registered Users, Registered Users 2 Posts: 671 ✭✭✭Will Yam


    None of them are. Although you might have difficulty dragging that piece of information out of them. You'll get stuff like "equivalent to" etc, but if you ask the direct question and request a yes or no, they either have to give a no, or...........

    Neither is ITI on the framework. Afaik the only professional qualification on the framework is CTax.


  • #64
    frankythefish
    Closed Accounts Posts: 339 ✭✭frankythefish


    Totally agree with posters who says it's about your own situation with regard to which you pick. I am speaking as a Cpa. I have no problem saying that I would hold cai in my head as the number 1 professional body. I have never warmed to acca, based largely on many colleagues who I have worked with who were acca. I always found they were limited in their technical knowledge. I m sure their are those who would stand up to cai/Cpa and be even better so I am not painting all with the one brush here. With regard to Cima, I have never worked alongside a qualified Cima. Management accounting was never really my area anyways


  • #65
    shelestkaterina
    Registered Users Posts: 1 ✭shelestkaterina


    The professional accounting bodies are organizations that are responsible for setting accounting standards, regulating the profession, and providing education, training and development opportunities to members. These bodies are also responsible for protecting the public interest and maintaining the integrity of the profession.

    The three main professional accounting bodies are the Institute of Chartered Accountants in England and Wales (ICAEW), the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA). All three of these bodies have their own standards, qualifications and rules for members.The main differences between the three bodies include the type of qualifications required to become a member, the rules and regulations for members, and the scope of the training and development opportunities provided. For example, CIMA has a more comprehensive training programme than the other two bodies, while ICAEW has a more focused and technical approach.



  • #66
    AnnieinDundrum
    Registered Users Posts: 192 ✭✭AnnieinDundrum


    https://www.boards.ie/discussion/comment/120208379#Comment_120208379

    These are the UK bodies.

    Also worth noting for students and members CPA Ireland and Chartered Accountants Ireland are considering a merger so they’d all become Chartered.



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  • #67
    tv3tg4
    Registered Users Posts: 533 ✭✭✭tv3tg4


    Just an update on that

    "Accountancy body members agree to amalgamate" https://www.rte.ie/news/business/2024/0222/1433711-accountants-to-merge/



  • #68
    AnnieinDundrum
    Registered Users Posts: 192 ✭✭AnnieinDundrum


    https://www.boards.ie/discussion/comment/121806571#Comment_121806571

    They’ve another vote on this soon, the rules in each body have to be updated to reflect the merger, so maybe it’ll get kicked out?



  • #69
    hold my beer
    Registered Users Posts: 2,005 ✭✭✭hold my beer


    https://www.boards.ie/discussion/comment/121925013#Comment_121925013

    The merger was passed a few weeks ago in a vote by both bodies membership. I haven't heard anything about any further votes. CAI will subsume CPA



  • #70
    AnnieinDundrum
    Registered Users Posts: 192 ✭✭AnnieinDundrum


    The AGM in May will be asked to approve the changes to the rules to reflect the merger. I don’t know if that’s a formality or another approval stage



  • #71
    hold my beer
    Registered Users Posts: 2,005 ✭✭✭hold my beer


    I'd imagine it's a formality, unless an issue arises



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  • #72
    tv3tg4
    Registered Users Posts: 533 ✭✭✭tv3tg4


    AGMs of both the CAI and CPA today.

    Looks as if merger is proceeding.

    One less accountancy institute on the cards



  • #73
    AnnieinDundrum
    Registered Users Posts: 192 ✭✭AnnieinDundrum


    I wonder if many even bothered even voting.


    10k CAs voted first time around, wonder if as many bothered this time



  • #74
    tv3tg4
    Registered Users Posts: 533 ✭✭✭tv3tg4


    I don't know how many actually voted.

    I think a new institute should have been formed but that option would be more complicated and costly.

    Members may use CPA and ACA.



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