WallStreetMojo

WallStreetMojo

WallStreetMojo

MENUMENU
  • Free Tutorials
  • Certification Courses
  • 250+ Courses All In One Bundle
  • Login
Home » Finance Certification Resources » ACCA vs CIMA

ACCA vs CIMA

Difference Between ACCA and CIMA

ACCA certification (Association of Certified Chartered Accountant) equips students with skills in accounts handling, management accounting, taxation, auditing, etc while CIMA certification (Chartered Institute of Management Accountants) provides adequate training and degree with respect to management accountancy and various other related subjects.

Both ACCA and CIMA are reputed certifications in the field of accounting and finance. However, CIMA is little more than just accounting as it also helps in honing skills for decision making because it is a mix of accounting and business management. Hence, both certification programs cater to some specific job profiles, and it is the candidates who need to decide based on their career aspirations.

ACCA-vs-CIMA

ACCA vs CIMA Infographics

Let’s see the top differences between ACCA and CIMA.

ACCA-vs-CIMA-info

Comparative Table – ACCA vs CIMA

Section ACCA   CIMA
Organizing body Association of Chartered Certified Accountant (ACCA) Chartered Institute of Management Accountants (CIMA)
Pattern Divided into 3 levels

  • Knowledge Level
  • Skills Level
  • Professional Level
Divided into 4 levels

  • Operational Level
  • Management Level
  • Strategic Level
  • Professional Level
Duration of course 3 years 3 years
Syllabus
  • Accounting & Auditing
  • Taxation
  • Financial Management
  • Financial Reporting
  • Ethical & Professional Standards
  • Business Accounting
  • Management Accounting
  • Information Management
  • Finance Management
  • Strategic Marketing Management
Exam Fees £1,500 – £2,000 £2,500 – £3,000
Jobs
  • Accountant
  • Financial Consultant
  • Tax Manager
  • Finance Manager
  • Internal Auditor
  • Management Accountant
  • Business Analyst
  • Forensic Analyst
  • Project Manager
  • Finance Controller
Difficulty Moderate Moderate
Exam Dates
  • Mar 01-05, 2021
  • Jun 07-11, 2021
  • Feb 10-26, 2021
  • May 14-28, 2021
  • Aug 11-27, 2021
  • Nov 10-26, 2021

ACCA vs CIMA – Which is Better?

This is a very common question, and sadly there is no easy answer to it. There is no doubt that both certifications help secure some of the most sought after jobs in the finance and accounting domain. ACCA emphasises advanced taxation principles and external auditing and prepares candidates to work independently or in finance-specific private firms. On the other hand, CIMA helps candidates to prepare for the business side of accounting with a flair of management expertise.

Skills Obtained

After becoming a certified ACCA, a candidate gains a deeper understanding of the technical side of financial accounting. On the other hand, a CIMA passed out candidate develops excellent strategic and business management skills.

Duration

Both courses require a similar amount of time for completion. For ACCA, candidates need to clear 14 professional exams coupled with 3 years of supervised accountancy experience. If the candidates can manage their work and studies simultaneously, then they can complete the ACCA qualifications in around 3 years. On the other hand, CIMA candidates also need to complete 16 papers and 3 years of relevant work experience to complete the CIMA qualification successfully. So, even in CIMA, candidates can complete the course in 3 years if they balance their work and studies well.

Popular Course in this category
Sale
All in One Financial Analyst Bundle (250+ Courses, 40+ Projects)
4.9 (1,067 ratings)
250+ Courses | 40+ Projects | 1000+ Hours | Full Lifetime Access | Certificate of Completion
View Course

Eligibility or Experience Required

A candidate needs to pass high school to be eligible for the ACCA examination. In contrast, the CIMA exams need a candidate to graduate in any discipline from a recognized university. Both ACCA and CIMA qualifications require the candidate to have three years of relevant work experience. It is to be noted that candidates are eligible for exemption from papers based on their educational background [more details on this can be retrieved from the respective official websites].

Syllabus

Besides core subject areas of accounting, auditing, and taxation, the ACCA course covers subjects pertaining to business studies, financial reporting, financial management, law, and ethical & professional standards. On the other hand, the CIMA qualification is more focused on developing business skills. The subjects it covers are business accounting, management accounting, information management, finance management, strategic marketing management, etc. The ACCA syllabus has 13 exams in total, while the CIMA has 16 exams.

Career Opportunity and Salary

An ACCA qualified professional usually starts in the job profiles of Accountant,  Financial Consultant, Tax Manager,  Finance Manager, and Internal Auditor. On the other hand, a CIMA qualified professional is best fitted in Management Accountant, Business Analyst,  Forensic Analyst,  Project Manager, and Finance Controller.

The ACCA trainees start with an average salary of £19,300 p.a., while the ACCA finalists and ACCA part-qualified can earn up to £30,700 p.a. and £25,800 p.a. respectively. On the other hand, CIMA qualified professionals get an average salary of £62,000, which can go up to £129,000 at senior levels.

Fees and Passing Rates

In terms of the cost of the examination, CIMA is slightly more expensive than ACCA. The cost of ACCA qualification comes around £1,500 – £2,000, while that of CIMA qualification is in the range of £2,500 – £3,000.

Given the historical passing rates, it is fair to say that both courses are moderately difficult. The below table captures the outcome of ACCA exams conducted during March 2020, wherein it can be seen that the Professional level is the most difficult one while the Knowledge level is the simplest one [Source: ACCA Global].

ACCA Qualification Mar – 20
Applied Knowledge
     Accountant in Business 82%
     Financial Accounting 73%
     Management Accounting 65%
Applied Skills
     Corporate and Business Law 83%
     Taxation 46%
     Financial Reporting 44%
     Performance Management 35%
     Financial Management 44%
     Audit and Assurance 36%
Strategic Professional – Essentials
     Strategic Business Leader 47%
     Strategic Business Reporting 51%
Strategic Professional – Options
     Advanced Audit and Assurance 33%
     Advanced Financial Management 33%
     Advanced Performance Management 32%
     Advanced Taxation 44%

The below table captures the outcome of CIMA exams conducted during May 2020, wherein it can be seen that except Professional level, all other levels are equal difficulty in terms of passing rates [Source: CIMA Global].

CIMA Qualification May – 20
Operational 57%
Management 67%
Professional 27%
Strategic 69%

Exam Availability

The ACCA exams are conducted in March, June, September, and December during a year, while the CIMA exams are conducted in February, May, August, and November. The exam dates of the upcoming ACCA exams are Mar 01-05, 2021 and Jun 07-11, 2021, while the of CIMA exams are Feb 10-26, 2021, May 14-28, 2021, Aug 11-27, 2021, and Nov 10-26, 2021.

How to Enroll?

If a candidate is interested in pursuing ACCA, then he/ she should visit the official website of ACCA Global for process guidance. On the other hand, if a candidate wants to pursue CIMA,  then he/ she should register at the official website of CIMA Global.

Recommended Articles

This has been a guide to ACCA vs CIMA. Here we discuss the difference between ACCA and CIMA along with the infographics and why to pursue them. We also discuss their exam requirements. You may also have a look at the following articles –

  • CIMA vs CFA – Compare
  • CIMAvs CFP – Which is right for you?
  • CIMA vs CPWA – Differences
  • ACCA vs CMA – Which is better?
106 Shares
Share
Tweet
Share
Primary Sidebar
Footer
COMPANY
About
Reviews
Contact
Privacy
Terms of Service
RESOURCES
Blog
Free Courses
Free Tutorials
Investment Banking Tutorials
Financial Modeling Tutorials
Excel Tutorials
Accounting Tutorials
Financial Statement Analysis
COURSES
All Courses
Financial Analyst All in One Course
Investment Banking Course
Financial Modeling Course
Private Equity Course
Venture Capital Course
Excel All in One Course

Copyright © 2021. CFA Institute Does Not Endorse, Promote, Or Warrant The Accuracy Or Quality Of WallStreetMojo. CFA® And Chartered Financial Analyst® Are Registered Trademarks Owned By CFA Institute.
Return to top

WallStreetMojo

Free Investment Banking Course

IB Excel Templates, Accounting, Valuation, Financial Modeling, Video Tutorials

* Please provide your correct email id. Login details for this Free course will be emailed to you

Book Your One Instructor : One Learner Free Class
WallStreetMojo

Free Investment Banking Course

IB Excel Templates, Accounting, Valuation, Financial Modeling, Video Tutorials

* Please provide your correct email id. Login details for this Free course will be emailed to you

Let’s Get Started
Please select the batch
Saturday - Sunday 9 am IST to 5 pm IST
Saturday - Sunday 9 am IST to 5 pm IST

This website or its third-party tools use cookies, which are necessary to its functioning and required to achieve the purposes illustrated in the cookie policy. By closing this banner, scrolling this page, clicking a link or continuing to browse otherwise, you agree to our Privacy Policy

Login

Forgot Password?

New Year Offer - All in One Financial Analyst Bundle (250+ Courses, 40+ Projects) View More