Welcome Guest ( Log In | Register )

Bump TopicReply to this topicRSS feed Start new topic Start Poll

Outline · [ Standard ] · Linear+

> CIMA and ACCA, Confused and advice needed

Kutu Yong
post Oct 8 2006, 10:00 PM, updated 13y ago

New Member
*
Group: Junior Member
Posts: 27

Joined: Oct 2006
I am really confused here
I am looking for advices from you guys and girls to solve my problems sad.gif

1) What is the difference between ACCA and CIMA???
2) What is CIMA and ACCA career path??? and what they usually do??
3) Can CIMA students/members do financial audit??? As i heard CIMA is not really popular at Big four audit firms
4) Is experience in financial audit is really essential in accountancy profession????

Thanks in advance, i really appreciate a lot of you guys and gals advice

alvintcn
post Oct 8 2006, 10:03 PM

Getting Started
**
Group: Junior Member
Posts: 99

Joined: Dec 2005


CIMA, when u graduate, u become factory manager. ACCA, when u finish then only think la. ACCA = Always Come and Come back Again.
liangko
post Oct 9 2006, 05:12 PM

Getting Started
**
Group: Junior Member
Posts: 129

Joined: Sep 2006


I think CIMA is more focus on helping your company for cost planning. All they have to do is cutting cost, deeply related to costing. Or we can say that it is management accounting.
While ACCA, it is more focus on financial accounting. Of course, ACCA is more popular than CIMA nowadays maybe because of its huge number of members? Correct me if i'm wrong.
What I found out is that, whenever i ask my friends who know nothing about accounting professional bodies, all of them say that ACCA is better. It shows that ACCA is much more popular than other professional bodies. If not why don they say CIMA? CPA? etc? But we can't conclude that ACCA is the best through these. It's really depends on what you wish to do in Accounting field. The accounting field is very broad and you will be able to understand more when you've graduated and start to work out there.
I prefer CIMA because it involves management, and i always read newspaper that most of the very very very succesful accountant are from CIMA ^^. There is one CIMA accountant (forgot what is his name d) came to my school have a talk and he is director of 15 companies!! Imagine how sucessful he is. Try to search to ACCA or CIMA web site for more detail infor. You can get good infor there.
Godd luck!
ParaOpticaL
post Oct 9 2006, 05:43 PM

Planter - Durian, Jackfruit, Papaya
*******
Group: Senior Member
Posts: 2,348

Joined: Dec 2004
From: Ch3r@s



QUOTE(alvintcn @ Oct 8 2006, 10:03 PM)
CIMA, when u graduate, u become factory manager. ACCA, when u finish then only think la. ACCA = Always Come and Come back Again.
*
if you are not sure please dont comment unnecassarily. who says that CIMA when grauduate becomes Factory Manager ?

Do you understand what does CIMA mean ?
Chartered Institute of MANAGEMENT Accounting and not Manufacturing stuff ok.

QUOTE(liangko @ Oct 9 2006, 05:12 PM)
I think CIMA is more focus on helping your company for cost planning. All they have to do is cutting cost, deeply related to costing. Or we can say that it is management accounting.
While ACCA, it is more focus on financial accounting. Of course, ACCA is more popular than CIMA nowadays maybe because of its huge number of members? Correct me if i'm wrong.
What I found out is that, whenever i ask my friends who know nothing about accounting professional bodies, all of them say that ACCA is better. It shows that ACCA is much more popular than other professional bodies. If not why don they say CIMA? CPA? etc? But we can't conclude that ACCA is the best through these. It's really depends on what you wish to do in Accounting field. The accounting field is very broad and you will be able to understand more when you've graduated and start to work out there.
I prefer CIMA because it involves management, and i always read newspaper that most of the very very very succesful accountant are from CIMA ^^. There is one CIMA accountant (forgot what is his name d) came to my school have a talk and he is director of 15 companies!! Imagine how sucessful he is. Try to search to ACCA or CIMA web site for more detail infor. You can get good infor there.
Godd luck!
*
Both ACCA and CIMA also focus on Financial accounting and costing.
Yes in Malaysia no doubt ACCA is more popular but it you are counting worldwide and the UK, CIMA is ranked No. 1.

If you are not sure please contact the Local CIMA Centre in Kelana Jaya.

123 Jalan SS6/12
Kelana Jaya Urban Centre
47301 Petaling Jaya
Selangor Darul Ehsan

Email: kualalumpur@cimaglobal.com
Phone: 60 (0)3 7803 5531
Fax: 60 (0)3 7805 1594

Karen Yeap (Manager, Student Services)
Email: karen.yeap@cimaglobal.com


or ACCA

ACCA Malaysia Sdn Bhd (473007P)
27th Floor, Wisma Denmark
86 Jalan Ampang
50450 Kuala Lumpur

tel: +60 (0)3 2713 5051
fax: +60 (0)3 2713 5052
e-mail: info@my.accaglobal.com


This post has been edited by ParaOpticaL: Oct 9 2006, 05:44 PM
darkages
post Oct 9 2006, 08:05 PM

Jam Bumi
Group Icon
Education Essentials
Group: Moderator
Posts: 4,206

Joined: Jan 2003
From: Subang USJ


This subject fits Education Essential more so I'm gonna move it.
malaysiawhite
post Oct 10 2006, 01:06 AM

New Member
*
Group: Newbie
Posts: 2

Joined: Sep 2006
ACCA cert more valueble?

This post has been edited by malaysiawhite: Oct 10 2006, 01:08 AM
-FirstLove-
post Oct 10 2006, 01:10 AM

Casual
***
Group: Junior Member
Posts: 378

Joined: Sep 2006
From: Penang/KL


ACCA more to Financial Accounting
CIMA more to Management Accounting

wat u say that CIMA is not famous in b4 u know why? coz Big4 is doing financial accounting for companies and auditing too.

Mangement accounting is about how u make ur business better how to save cost what decision to make for the better of the business. planning thingy!

both come out can be accountant and auditor and also manager coz actually manager is not a course or anything but just a job when u get promoted to jaga the staff below u.

if u like to think use brain power CIMA should be ur choice. ACCA is more to calculation

both actually related but just where u really focus. CIMA also learn financial accounting but more focus on Management only. vice versa
niu_niu
post Oct 10 2006, 09:59 AM

Remember to feed the cat!
****
Group: Senior Member
Posts: 577

Joined: Jun 2006
From: Kay_Hell

Well, i guess CIMA and ACCA are just abang-adik only....both are professional papers and have the same same difficulties.....i heard the hardest paper in CIMA is TOPCIMA....
Actually, CIMA is more on the planning and controlling side while ACCA is more on reporting & financial side although both can be mixed up together......no doubt ACCA is popular in M'sia....the in the world, im not sure lar.....
CIMA also can do audit but not in big four la....i remember a friend told me that one of his colleague is doing audit although is CIMA qualified but that's in a small firm....i thk u shd get the experience 1st b4 going into big 4 to get a job...i thk much more easier in that way...u have a proven track record....
ellimist
post Oct 10 2006, 10:36 AM

Still a Yui-tard
*******
Group: Senior Member
Posts: 6,106

Joined: Jan 2003
From: Klang



This might sound a lil off topic but where are you coming from? (education wise)

If you're hopping off a degree or somethin you could look into ICAEW,that's more prestigous then both the mentioned courses iianm

(I'm an ACCA student btw)

This post has been edited by ellimist: Oct 10 2006, 10:39 AM
owenwong84
post Oct 10 2006, 02:34 PM

Zin zin
******
Group: Senior Member
Posts: 1,041

Joined: Oct 2004
CIMA deals with future account, budget budget budget control...
ACCA prepares past transaction.. Well, tat's only general.

A company is success maybe becoz of good controlling. So, if i'm a CIMA ppl, maybe i can run the company by myself. Become a director is not impossible too.

ACCA leh, uhmm... Must know how to read account, prepare financial statement. Tat's what i personally think.

CIMA so few ppl becoz it is very hard... ACCA easier. Either u got 1 of this cert, the salary won't have much different. Also, this is wat i personnaly think.
-FirstLove-
post Oct 10 2006, 10:54 PM

Casual
***
Group: Junior Member
Posts: 378

Joined: Sep 2006
From: Penang/KL


if u want go to Big Four get a good result! then the interview has IQ test too. Good Interview will helps a lot too.

and its best if u get to go into BIG4 to have ur practical training (vacation training) then if u well perform next time in future they might easily accept u back when u wanna work permanently.

College being bias not letting me into the big 4 and arrange me into a small firm and i myself walk in interview and guess wat i make it into the biggest one pricewaterhousecoopers ^^ haha
So just have ur courage to walk in interview with these big companies and perform well in ur interview! go for internship when u get to! it helps ur future!
exec
post Oct 11 2006, 12:56 AM

Casual
***
Group: Junior Member
Posts: 304

Joined: Jul 2005
From: Osaka, Japan


Having seen people keep talking about the Big Four.

Which are those Big Fours anyway?
Garfie
post Oct 11 2006, 01:36 AM

= Teh Retired Buaya Master =
*******
Group: Senior Member
Posts: 3,949

Joined: Jan 2003
From: BS161ZL, Bristol




QUOTE(exec @ Oct 11 2006, 12:56 AM)
Having seen people keep talking about the Big Four.

Which are those Big Fours anyway?
*
Pricewaterhouse Coopers
Deloitte Touche Tohmatsu
Ernst & Young
KPMG

used to be the Big Five, until Arthur Anderson collapsed after the Enron financial scandal

steventan85
post Oct 11 2006, 01:37 AM

Look at all my stars!!
*******
Group: Senior Member
Posts: 5,988

Joined: Jan 2006
QUOTE(exec @ Oct 11 2006, 12:56 AM)
Having seen people keep talking about the Big Four.

Which are those Big Fours anyway?
*
Ernst and Young , PriceWaterhouseCoopers, Deloitte KassimChan and KPMG International

biggrin.gif biggrin.gif

This post has been edited by steventan85: Oct 11 2006, 01:40 AM
Shezzar
post Oct 11 2006, 10:45 AM

~TęDdY ♥ PĩGģīĔ~
******
Group: Senior Member
Posts: 1,578

Joined: Jan 2003
From: Kay El



QUOTE(Kutu Yong @ Oct 8 2006, 10:00 PM)
I am really confused here
I am looking for advices from you guys and girls to solve my problems sad.gif

1) What is the difference between ACCA and CIMA???
2) What is CIMA and ACCA career path??? and what they usually do??
3) Can CIMA students/members do financial audit??? As i heard CIMA is not really popular at Big four audit firms
4) Is experience in financial audit is really essential in accountancy profession????

Thanks in advance, i really appreciate a lot of you guys and gals advice
*
Im just going to reply you based on your question list and some further information bout both.

1) What is the difference between ACCA and CIMA???
ACCA is more on Financial Accounting (external publishing) whilst CIMA is more on Management Accounting (internal publishing). Both are reputated professional qualifications and both have its strong points.



2) What is CIMA and ACCA career path??? and what they usually do??

Again CIMA and ACCA path are quite wide. Both can end up doing the same thing. CIMA grads can also do Auditing or Tax like an ACCA grad but of course, ACCA grads are more prefered. Aside from that, CIMA also can do in what we call Coperate Recovery. Which is something that CIMA are more focused at as they do Budgeting and Forecasting.

ACCA will normally deal with auditing and accounting. Preparation of Financial Statements and other matters. Your scope of work would be broader than CIMA but it does not mean that ACCA is better than CIMA. Again, both are professional qualifications.

CIMA on the other hand deals with internal reporting. You focus more on Management, Budgetary, Forecasting and etc. Anything to do with the internal operations of the company is more focused in CIMA as compared to ACCA.


3) Can CIMA students/members do financial audit??? As i heard CIMA is not really popular at Big four audit firms

Again its not very true. In KPMG Singapore, their requirements jus state PROFESSIONAL QUALIFICATION. That means ICSA, CIMA or ACCA. However for Auditing, there are some who are CIMA and majority ACCA. They are not really popular for the simple fact that most of their syllabus does not touch Auditing in depth as compared to ACCA.

4) Is experience in financial audit is really essential in accountancy profession????

Tru my experience in a Big Four, i really do think that having experience in Financial Auditing for at least 3years is essential before you move out to the commercial line.

As a nutshell, as long as you noe what you wanna do (i.e. Focus in auditing or more on forecasting and managemetn) then you can choose which qualification you prefer. I would like to point out that, it is NOT necessary that CIMA students work in factories as there are as many ACCA also working in factory lines.

Cheers
SheZZaR
cyberlearner
post Oct 11 2006, 02:23 PM

Getting Started
**
Group: Junior Member
Posts: 112

Joined: Sep 2005


ACCA and CIMA and thier qualification in Malaysia or UK:


ACCA:
http://en.wikipedia.org/wiki/ACCA

CIMA:
http://en.wikipedia.org/wiki/Chartered_Ins...ent_Accountants


Malaysia - Both ACCA and CIMA are recognised by MIA as member of MIA:
http://www.mia.org.my/mia/accountant/appli...ide.asp?mid=160

UK - In the UK, there are no licence requirements for an individual to be describe himself/herself or practice as an accountant (except in the areas of audit or insolvency) but to use certain titles requires membership of one of the many appropriate professional bodies.

ACCA is recognised to perform appropriate legal audit or insolvency:
http://en.wikipedia.org/wiki/British_qualified_accountants


To be MIA member in Malaysia, you can get through Qualifying Examination of MIA:
http://www.mia.org.my/mia/qua/about/guidelines/part1/eli.asp
liangko
post Oct 11 2006, 04:39 PM

Getting Started
**
Group: Junior Member
Posts: 129

Joined: Sep 2006


QUOTE(Shezzar @ Oct 11 2006, 10:45 AM)

[b]Tru my experience in a Big Four, i really do think that having experience in Financial Auditing for at least 3years is essential before you move out to the commercial line.[/b
Can you explain why must we have experience in Financing Auditing for at least 3 years and why it is essential before we moving out to the commercial line? Now I'm still pursueing Bachelor of Acc Degree in UTAR and I'm planning to choose CIMA after my degree study. I prefer Management Acc rather than financial Acc and is it necessary for me to get 3 years experience in Financing Auditing?

And i heard that there are many paths to go in Accounting Career, such as Taxation, Auditing and etc. Can you briefly explain to me? or where can I get those infor? Thx for reply...
masterackn
post Oct 11 2006, 05:45 PM

Getting Started
**
Group: Junior Member
Posts: 107

Joined: Oct 2004
will it be hard for a student who doesn't have any accounting background to study ACCA or CIMA?
Shezzar
post Oct 11 2006, 06:15 PM

~TęDdY ♥ PĩGģīĔ~
******
Group: Senior Member
Posts: 1,578

Joined: Jan 2003
From: Kay El



QUOTE(liangko @ Oct 11 2006, 04:39 PM)
Can you explain why must we have experience in Financing Auditing for at least 3 years and why it is essential before we moving out to the commercial line? Now I'm still pursueing Bachelor of Acc Degree in UTAR and I'm planning to choose CIMA after my degree study. I prefer Management Acc rather than financial Acc and is it necessary for me to get 3 years experience in Financing Auditing?

And i heard that there are many paths to go in Accounting Career, such as Taxation, Auditing and etc. Can you briefly explain to me? or where can I get those infor? Thx for reply...
*
Well you see, when you join in the Big Four (in auditing) you would normally start of as a Junior Audit. At this point you dont really learn much but just shuffling around doing fotostating. At the point on your 3rd year onwards, thats when you actually start your first auditing client when you reach buot Senior Audit. This is when you really learn.

Normally, if you want to get a "good" resume, they would normally choose applicants with about 3yrs experience in audit line to be their CFO (Chief Financial Officer) because you would have a strong knowledge in both theory and practice as compared to a Junior Audit who may be strong in theory but hopelessly incapable in practice. Thus, most seniors would recommend that you do about 3yrs or more before shifting towards the commercial line.

There is more than one path in Accounting Career. It doesnt mean you study ACCA means you would be stuck with just accounts or bookeeping. You can always setup your business or even become real estates.

There are alot of lines in the accounting profession. Among them includes

- Corporate Recover
In corporate recovery, as the name calls it relates to reviving a company that maybe heading for liquidation or complete closure. Strong knowledge and experience is much needed in this line.

- Auditing
Basically auditing clients in preparation for their year end financial statements and annual general meeting. Experience would be given so you only need the relevant knowledge (Paper 3.1/3.2 is much prefered)

Aside from Auditing, there's also something called Assurance and non-audit work. Assurance is part of auditing but less work than auditing. While non-audit work may include due-dilligence or review of internal control systems and etc.


- Taxation
Taxation relates to both company tax and individual tax. However, there is also a sub-branch of taxation which is Tax planning and Tax Audit (which will be covered later).

Individual taxation, well deals with personal tax. Peak periods are generally from Feb - June for non-business income (Employment Income) and business income. You would also do things like passport verification for expatriates, Schedular Tax Deduction (STD) and you would be aliasing most with client and IRB.

Corporate taxation deals with corporate tax and its peak periods are generally from May to July.

Generally, taxation personals dont get to travel much (only to IRB branches or to the clients place). Except for Tax Audit personals.


- Tax Planning/Advisory
This deals with planning individual taxes for a more efficient tax payable. What happens here is more on advising client how each different situation constitutes different kinds of tax effect and stuff like taht

- Tax Audit
Normally instigated by the IRB wheneva they feel necessary. This is basically project basis and its a branch from Corporate Taxation. So if there are no projects, then you would be doing Corporate Taxation.

General scope is that you help alias between your client and the IRB and you make sure that every tax matters of your client is in order


- Advisory
This does not necessary extends to accounting background but many other types of qualifications as well depending on its workscope (tax/financial planning)


- Forensic Audit
This is very interesting. Something like CSI. Highly recommends ACCA/CIMA. Sometimes you would be working with other professionals as well like doctors, architects and stuff.


Much of the info you can get it from career fairs and stuff like that. ACCA organized a Career Day back in August and it was a good exposure IMO.

Wateva it is, again, doesnt matter whether you're in CIMA or ACCA, the most important thing is doing what you can do rather than doing something just for the sake that it has "better" prospect. But do trust me when i say, CIMA or ACCA the only difference is very minimal and there isnt any problem going into auditing or taxation or even the commercial line.

QUOTE(masterackn @ Oct 11 2006, 05:45 PM)
will it be hard for a student who doesn't have any accounting background to study ACCA or CIMA?
*
Alot of people might think that way. However, its not as difficult as one might think. AMOF, im a pure science student and im taking ACCA as well. So whateva background you are from, its not difficult. You can always start of as a CAT before moving up to ACCA cause they will teach you the basics and thus, its not a problem for you to cope.

If you're taking SPM this year, then its possible for you to register CAT next year when you get your results. Even if you're already a graduate with another diploma/degree, there's nothing wrong with taking ACCA either.

EDIT: Each possible accounting line is elaborated briefly.

Cheers
SheZZaR

This post has been edited by Shezzar: Oct 11 2006, 06:28 PM
liangko
post Oct 12 2006, 07:48 PM

Getting Started
**
Group: Junior Member
Posts: 129

Joined: Sep 2006


Thx alot. notworthy.gif
Are you a member of ACCA already?

QUOTE(Shezzar @ Oct 11 2006, 06:15 PM)
At the point on your 3rd year onwards, thats when you actually start your first auditing client when you reach buot Senior Audit. This is when you really learn.
You mean when we've graduated, we just shuffling around and do some photocopy stuff only for the 3 years? 3rd year onwards only start to learn auditing?

Actually now I'm having sem break for 3 months and I'm working as temporary account clerk in Holiday Worlds(travelling company) at KL. I"m just started to work there for 1 week and what actually I'm doing in the office mostly is file-ling. I hardly got the chance to touch the accounting software they're using - Power suite. I feel very boring to just only do file-ling as it very easy and meaningless task. I feel very dissapointed as I thought that I could learn something new from there but the fact is not. Is it U-freshgraduated need to do file-ling or fotocopying when they 1st come out to work? Why is it so? Feel so depressed.

2 Pages  1 2 >Top
Bump TopicReply to this topicTopic OptionsStart new topic
 

Switch to:
| Lo-Fi Version
0.1237sec    5.89    5 queries    GZIP Disabled
Time is now: 23rd February 2019 - 12:05 AM