CIMA vs FIC – Find Out the 5 Main Differences (Infographics)

CIMA vs FIC – If you are confused between these two set of qualifications, then this article will surely help you fast track your right decision. These two certifications are quite opposite in terms of skillsets. One one side CIMA is all about Management accounting, FIC is a certification that covers fixed income securities in details.

Let’s take a quick look. The article is organized as per below –

  1. CIMA vs FIC Infographics
  2. What is CIMA?
  3. What is FIC?
  4. CIMA vs FIC Educational Requirements
  5. Why pursue CIMA?
  6. Why pursue FIC?

CIMA vs FIC Infographics

Reading time : 90 seconds

Lets understand the difference between these two streams with the help of this CIMA vs FIC Infographics.

CIMA vs FIC infographics

What is CIMA?

The CIMA course is offered by the UK based body, the Chartered Institute of Management Accountants, to help management professionals to develop their knowledge and expertise in the area of management accountancy. The course has an excellent syllabi prepared by the industry professionals which aids in providing the best training and qualification to accountants and ensure they  attain a mastery over the subjects related to this field. The course structure ensures the rudimentary basics are cleared and the topics allow the students to have a good grounding and insight into the different areas of accounting and their relation to the business world. The CIMA body takes utmost care to ensure that the course designed and qualification offered is most relevant to the current times and trends of the industry. This is indeed necessary to ensure that every individual’s core talent is unleashed helping them to prosper in the right direction by accelerating their career in the business field.  The course is a knowledge refresher and a bridge to the CIMA Professional Qualification. CIMA-trained people work in commerce industry, management consultancies, banks and not for profit and public sector organizations.

What is FIC?

The Fixed Income Certificate (FIC) – a certificate program offered by the ICMA (International Capital Market Association) is an intricate qualification that can hone the practical skills of marketing professionals. The institute has been offering this extremely challenging qualification to market professionals since the last forty years. The aim of the institute is to create professionals who can adept to any market conditions and turn the tables around with its extensive knowledge of practical skills in trading, investment and risk management.

The FIC program is rigorous and demands a candidate’s focus and hard work. While the syllabus of the program definitely covers on a professional’s existing knowledge about the fixed income markets, it also expands its scope and horizon beyond the superficial level giving an in-depth knowledge with the proper technical skills to allow the candidate to compete in the global marketplace.

The course is difficult with its vast range of topics about the fixed income instruments and markets. However, the institute constantly assesses every candidate’s knowledge, examining scenarios to ensure each and every participant of the course is thoroughly prepared with adequate knowledge and practical skills to execute day-to-day business activity with great efficiency in their respective jobs.

CIMA vs FIC Educational Requirements

There are no pre-requisite specified for a candidate to be eligible for the exam. However, the institute expects its enrolling students to have some familiarity with the topics of the syllabus and have prior reading background on Fundamental Numerical Skills

· Overview of Financial Markets and Participants

· Fixed Income Securities

The eligibility criterion for CIMA course is not rigid allowing everyone to appear for the exam as the course is a rigorous program in itself. The minimum requisite is a high school diploma to be able to sit for the exam.  Exemptions to the exams are provided but it is strictly decided on the basis of the qualification of each individual.

Why pursue CIMA?

  • CIMA enjoys a better global presence due to its tie up with Common Wealth countries. And therefore, traditionally it is a known fact that employers understand the value of a CIMA certified who definitely has an edge amongst his peers due to his experience, knowledge, skills and professional commitment.
  • The course structure of the CIMA program is designed to ensure that the candidates are not only equipped with financial education but also they receive training and practice that would enrich their skills in in business management making them capable of advising on business strategy and risk management.
  • CIMA is a great way to better your job prospects as it definitely gives a boost to your earning potential while preparing you for roles in the business and finance sectors.
  • CIMA’s eligibility criterion is flexible and therefore allows a wide range of professionals to give the exam, creating wider job opportunities.

Why pursue FIC?

The FIC certificate is an added advantage for professionals working in the client or market facing positions in fixed income within a bank or fund management company, as it enriches their knowledge about the fixed income markets and range of credit products.
The course allows the candidate to be up to date with the current best market practice as well as regulatory considerations for fixed income and derivative markets.

  • The FIC program gives the students a complete six months’ study time which primarily helps in studying as well as absorbing the material provided, and be thoroughly prepared for the examination.
  • The FIC course provides training and ensures that all students are at par from the beginning. Therefore it provides access to the FIC online campus in advance to help the students to prepare for the classroom based teaching.
  • The online campus gives out a series of sample exam questions and videos from the course to help candidates to monitor their progress from Day one.
  • The FIC program is a combination of theory classes, combined with ample of practical work which is based on the concepts that has been taught in the training sessions. Thus the combination of theory and practical is an excellent way to test whether a student has understood the material and is able to implement new acquisitions.
  • The FIC program attracts students from various professional backgrounds providing and extremely interesting diaspora and international atmosphere to thrive in and learn.
  • The FIC Program is enlisted in the UK’s Financial Skills Partnership (FSP) qualifications list for ‘Advising on securities and derivatives in the wholesale market place’. Thus the qualification is widely recognized and is sure to provide an edge to professional in the job market.
    For those candidates aiming for a CFA in the future, FIC program can help in qualifying them for 30 credit hours under the guidelines of the CFA Institute’s Continuing Education Programme.

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Don’t go by what others advise you. Take your decisions based on your likes, your preferences and your career path and you will see you will never have to regret a decision taken by you.

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