We live in a world of options. Today we have moved from the obvious career choices of a CA, MBA, ICWAI towards more globally accredited degrees like CFA, CIMA, ACCA, CPA etc. But with more choices comes more confusion, especially amongst seemingly similar degrees. Two such degrees which cause immense confusion are ACCA and CIMA. If you are a commerce student or a professional who wants to advance his/her career in finance & accounting, these thoughts of confusion would have crossed your mind too. Are you flooded with details about both the courses, but still can’t make a choice?
Take a breath, there is no need to be so confused about. While these courses are highly sought after and may seem similar on the surface, there are inherent differences between both on various parameters. ACCA is more inclined towards tax, audit and other technical aspects of accounting, while CIMA is a global degree towards management accounting.
We have assessed both these courses on various parameters and highlighted major differences between the two. A thorough reality check will help you to arrive at the right pick for your career.
ACCA and CIMA are both international qualifications that are globally accepted and highly regarded qualifications in Finance and Accounting. The right choice between these qualifications can only be arrived at based on personal career aspirations and previous job experience.
We would recommend ACCA for graduates looking for a career primarily in practice, audit or tax with the flair for numbers and compliance. On the other hand, we would recommend CIMA for graduates looking for a careers primarily in business and industry with flair for strategy, commercial awareness and good negotiation skills.