ACCA vs. CIMA — Which Accounting Qualification Should You Opt For ?

ACCA (Association of Chartered Certified Accountants) and CIMA (Chartered Institute of Management Accountants) are both professional organizations that will help a candidate build their career effectively in the long run. ACCA is mainly a body for Chartered Accountants while CIMA is for management accountants. You need to check on which group would make more meaning to your interests and help you build your career.

ACCA and CIMA, both accounting qualification groups, demand different kinds of skillsets. Post completion, the responsibilities would also be entirely different. Becoming a member of either of those groups will help you advance your career, get job assistance and also provide scope for continuing education. 

ACCA provides students with a strong foundation in the core principles of accounting. It is highly useful for professionals to build their career in the fields of audit and taxation. CIMA is a mix of MBA and CA. It is a blend of accounting concepts and the means to use this knowledge for taking critical decisions of management.  From an exam perspective, ACCA totally comprises 14 papers whereas CIMA demands 16 papers to be cleared. Both these exams require a basic eligibility of higher secondary education. According to stats, both these exams require 2-3 years for completion.

The core subjects involved in ACCA are accounting, law, taxation and reporting.  In the case of CIMA, organizational management, financial reporting, strategic management, risk management and project management are the main subjects. Based on the discussions made above, hope you will be able to make the right decision in terms of which domain to pick.