ACA, ACCA or CIMA

The world of accounting. Not the most lucrative career but definitely one of the most stable. In an African household, it’s always an approved career choice. 

Now look, there are various different accounting qualifications you can obtain in the world of finance all with the same outcome, a career (hopefully).

 

The main difference I’ve noticed is where you can obtain these qualifications such as the ACA, which is mainly available in practice (an accounting/audit firm).

 

I’ve noticed that a lot of senior financial members have this qualification so leads me to believe that this may be the most prestige one. However saying that all the ACA accountants I’ve come across started their careers in audit and to be honest I haven’t heard great things about that particular field but each to their own. I get the impression that you get an ACA qualification from any of the “Big 4” you’re pretty sweet. All my financial directors are cut from that very same cloth.

 

ACCA is what I’m doing. Seems to be the one of most flexible in terms of where you achieve the qualification as you can study this alone or in any industry. I have friends who work in corporate finance that studied this that are probably on more money than an ACA Affiliate would see in practice for a long time. CIMA is similar in nature, obviously emphasising the Management Accounting prospect without the Audit element.

 

Now there are not many differences within these qualifications as obtaining charter status is something I’d recommend regardless of the qualification. If your field has it go for it.

 

More likely than not. A bachelor’s degree is not enough.


 

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