Accountancy Qualifications

[AleisterCrowley]

No, I'm not thinking of changing careers , but was idly looking for the various levels of qualifications - possibly with a view to doing a course to assist with current work (which is getting more finace/audit orientated)
Couple of questions -
What are the various recognised qualification in the UK ?
I've checked out CIMA briefly, and some online sites appear to offer computer-based exams. Are the resulting 'qualifications' of any value at all (from a CV point of view) given that there's no proof the named student actually did the exam. Or do they have some foolproof ID system?

[Slarti]

I don't know about foolproof, but they certainly do have an ID system.

CIMA is recognised by industry, but a lighter version than ICAEW or ACCA but both of those are aimed more at accountants in practice and auditing.

I have no idea how they actually rank, these days, and the differences often seemed to relate to snobbishness, at least to an outsider.

I come across Financial Directors with any of the 3 qualifications, though the ICAEW and ACCA are more common in quoted companies.

I'd be looking for any training to be approved by the organisation in question, with them approving the exams.

HTH
Slarti

[JMN2]

I seem to remember CIMA was a bit lightweight and more towards management accounting.

[thebarns]

Chartered Accountancy - ICAEW in England and Wales and ICAS in Scotland - is the perceived top notch qualification and training in the accountancy world.

[Itsallaguess]

When I asked my careers advisor about pursuing a job in accountancy, he just said that I should go out and be audit I can be, but to always remember that it's accrual world out there.....

Itsallaguess

[AleisterCrowley]

Thanks all , I think it would be CIMA in my case, but still concerned about the value if its something that can be done online (or by a cash payment to some Graduate College based above a takeaway in Hackney)

[Slarti]

Thanks all , I think it would be CIMA in my case, but still concerned about the value if its something that can be done online (or by a cash payment to some Graduate College based above a takeaway in Hackney)

I'll be seeing some people working for CMA (or perhaps already got it?) on Monday. I'll have a chat with them.


The other 2 are much more theoretical and, I think, have tougher entrance requirements.

Slarti

[AleisterCrowley]

Cheers! Probably something on our work Intranet training portal, but that can wait til Monday

[Slarti]

So I spoke to one of the people currently doing CIMA and yes, the exams are done on computer, but they are done at an exam centre on their computers, where you will have attended for some of your study, so that is how the security works.

HTH
Slarti

PS, I have another question opportunity tomorrow.

[AleisterCrowley]

Ah, makes sense - thanks.
Must have a look at the syllabus

Cheers
AC

[moorfield]

No, I'm not thinking of changing careers , but was idly looking for the various levels of qualifications - possibly with a view to doing a course to assist with current work (which is getting more finace/audit orientated)

Early in my career I did the AAT in my spare time (employer was subbing the exam fees). It's more "junior" than ACA/CIMA/ACCA, but certainly helped me to run my ltdco bookkeeping myself and understand how tax & ni calculations work while I was contracting, and in my Finance/IT work, and indeed has helped me better understand financial accounts in my HYPing ...

[AleisterCrowley]

Another one to look at -thanks!

[DiamondEcho]

No, I'm not thinking of changing careers , but was idly looking for the various levels of qualifications - possibly with a view to doing a course to assist with current work (which is getting more finace/audit orientated)

Early in my career I did the AAT in my spare time (employer was subbing the exam fees). It's more "junior" than ACA/CIMA/ACCA, but certainly helped me to run my ltdco bookkeeping myself and understand how tax & ni calculations work while I was contracting, and in my Finance/IT work, and indeed has helped me better understand financial accounts in my HYPing ...

During my employment I found many qualified accountants had started out on that journey from leaving school and uni onwards, ie it's the foundation of a career. Hence my impression was later during a non-accounting career it would then be very hard to find the time to pursue a full 'CIMA/ACCA' qual in your spare time; you're looking at perhaps 3-5 years of absolute dedication.
So wishing to have a greater knowledge of accounting I decided to follow the AAT courses. That was 50/50 because I'd worked around daily management accounting for years but had zero relevant quals. I knew the reality and practice, but not the rules/principles*.

In brief I did AAT stage 1 and 2 in my spare time while later self-employed. Based on past employment quite a bit of it all 'magically slotted into place' as 'common sense', so I enjoyed it.
My impression is ACCA is for career statutory accountants (working for practises etc), CIMA is way more of a general business oriented version. AAT is for people who can't make it a centre-piece of their formative education but want to accrue a good amount of the understanding, and perhaps in a more flexible learning environment.

* I came to learn that a simple balance sheet is potentially a thing of great beauty, but that is for another topic