ACCA vs. CIMA — What's the Difference?
Edited by Tayyaba Rehman — By Fiza Rafique — Updated on May 14, 2024
ACCA focuses broadly on accountancy, auditing, and taxation, preparing for diverse financial roles; CIMA concentrates on management accounting, emphasizing business strategy and management skills.
Difference Between ACCA and CIMA
Table of Contents
ADVERTISEMENT
Key Differences
ACCA (Association of Chartered Certified Accountants) is a global body for professional accountants, offering comprehensive training in financial accounting, auditing, and taxation. It prepares individuals for a variety of accounting roles across different sectors. CIMA (Chartered Institute of Management Accountants), on the other hand, specializes in management accounting, with a curriculum that integrates accounting with business management and strategy.
The ACCA qualification is structured to provide a deep understanding of financial accounting and external auditing, making it ideal for careers in audit firms and finance departments. Whereas CIMA focuses on the internal aspects of a business, preparing candidates for careers in business management and strategy formulation.
ACCA is recognized widely across the globe in over 180 countries, which enhances its appeal to those looking to work internationally in finance and accountancy. CIMA, while also internationally recognized, is especially reputed within the context of business management, making it more niche but highly specialized.
The exam structure of ACCA involves passing 13 exams, which are generally considered to be broad in scope and deep in financial topics. CIMA’s exams are fewer but involve case studies that test application of management accounting principles in real-world business scenarios.
ACCA provides flexibility in career choices, allowing certification holders to work in various fields such as consulting, auditing, and taxation. CIMA certificants typically pursue careers within corporate management, focusing on cost management, strategic analysis, and decision support within business entities.
ADVERTISEMENT
Comparison Chart
Focus
Financial accounting, auditing, taxation
Management accounting, business strategy
Ideal For
Careers in auditing, financial management
Careers in business management, strategic planning
Global Recognition
Highly recognized internationally
Recognized, with a strong focus in management roles
Exam Structure
13 exams, focus on comprehensive financial topics
Fewer exams, includes case studies on business scenarios
Career Outcomes
Diverse roles in finance, audit, consultancy
Roles in corporate management, strategic analysis
Compare with Definitions
Acca
Global professional accounting body.
John joined ACCA to enhance his expertise in international financial reporting standards.
Cima
Integrates accounting with business management.
CIMA's syllabus equips professionals to contribute to business strategy discussions.
Acca
Provides certification in finance and accountancy.
After obtaining her ACCA, Lisa was qualified to audit large corporations.
Cima
Specializes in management accounting.
Tom chose CIMA to focus his career on management strategy and cost control.
Acca
Recognized in over 180 countries.
ACCA's global recognition allowed Maria to find a finance role in Europe.
Cima
Offers qualifications that emphasize business strategy.
With her CIMA qualification, Nina became a key player in her company's strategic planning.
Acca
Involves comprehensive study of taxation and auditing.
The ACCA curriculum includes advanced courses in taxation and compliance.
Cima
Prepares for roles in business management.
CIMA professionals are often sought after for executive roles in corporate management.
Acca
Opens doors to various accounting and finance careers.
ACCA members often secure positions in financial management and consulting.
Cima
Focuses on strategic decision-making.
CIMA training helped Alex improve his company's decision-making processes in cost management.
Acca
(slang) An accumulator bet.
Cima
Obsolete spelling of cyma
Cima
A kind of molding. See Cyma.
Common Curiosities
What is ACCA?
ACCA stands for the Association of Chartered Certified Accountants, a global body for professional accountants.
How does ACCA differ from CIMA in focus?
ACCA focuses on financial accounting and auditing, while CIMA is tailored towards management accounting and strategic business management.
What does CIMA stand for?
CIMA stands for the Chartered Institute of Management Accountants, specializing in management accounting.
Who should pursue ACCA?
Individuals interested in a broad accounting career that includes auditing, taxation, and financial management should consider ACCA.
How many exams does ACCA require?
ACCA qualification requires passing a total of 13 exams.
Where is ACCA recognized?
ACCA is recognized globally in over 180 countries, making it ideal for international accounting careers.
Can a professional hold both ACCA and CIMA qualifications?
Yes, it is possible and beneficial for professionals to hold both qualifications to maximize their expertise and career opportunities.
Does CIMA focus on international business?
While CIMA is internationally recognized, its primary focus is on strategic management within businesses rather than international standards.
How do ACCA and CIMA certifications impact career flexibility?
ACCA offers broader career flexibility across various accounting and finance roles, while CIMA is more specialized towards management roles.
Who is the ideal candidate for CIMA?
Those looking to specialize in business management, strategic planning, and cost control should pursue CIMA.
Are there different levels of certification in ACCA and CIMA?
Both ACCA and CIMA offer different levels of certification, culminating in a chartered status upon completion of exams and practical experience.
What educational background is required for ACCA or CIMA?
Both require a fundamental understanding of accounting and finance, though specific entry requirements may vary by region and previous education.
What type of careers does CIMA prepare you for?
CIMA prepares individuals for strategic roles within businesses, focusing on management and decision support.
What is unique about CIMA's exam structure?
CIMA exams include case studies that apply management accounting principles to real-world business scenarios.
Can ACCA qualifications lead to work in other business fields?
Yes, ACCA qualifications can open opportunities in fields such as consulting, corporate finance, and risk management.
Share Your Discovery
Previous Comparison
Dozer vs. Loader
Next Comparison
Philosophic vs. PhilosophicalAuthor Spotlight
Written by
Fiza RafiqueFiza Rafique is a skilled content writer at AskDifference.com, where she meticulously refines and enhances written pieces. Drawing from her vast editorial expertise, Fiza ensures clarity, accuracy, and precision in every article. Passionate about language, she continually seeks to elevate the quality of content for readers worldwide.
Edited by
Tayyaba RehmanTayyaba Rehman is a distinguished writer, currently serving as a primary contributor to askdifference.com. As a researcher in semantics and etymology, Tayyaba's passion for the complexity of languages and their distinctions has found a perfect home on the platform. Tayyaba delves into the intricacies of language, distinguishing between commonly confused words and phrases, thereby providing clarity for readers worldwide.
