Difference between ACCA and CIMA
ACCA and CIMA qualification are both qualifications in the area accountancy and are highly regarded by employers across the globe. Both the qualifications have a rewarding career in spheres of finance, audit, budgeting, revenue and taxation, industry, commerce, banks and such other setups.
What is the difference between ACCA and CIMA? This question haunts the minds of students intending to pursue studies and career in accountancy. This article highlights all the differences in the both qualifications as well as extends guidance about choosing ACCA or CIMA for their academic career.
The contrasting and matching aspects of both programs are as follows:
ACCA | CIMA |
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ACCA program is administered by Association of Certified Chartered Accountants (ACCA) UK. Its head office is in London UK and national office in different countries. |
CIMA Program is administered by the Chartered Institute of Management Accountants (CIMA) UK. Its head office is in London UK and national office in different countries. |
ACCA Exams are conducted by ACCA, UK. | CIMA Exams are conducted by CIMA, UK. |
ACCA has 14 papers. |
CIMA has 14 papers and 3 case-study exam. |
The first four papers of ACCA are attemped as Computer-based exam which has objective type question. The remaining papers of ACCA are basically paper-based exams which has objective type as well as explanatory/descriptive questions. These papers can also be attempted as computer-based exam. |
All papers of CIMA can be attempted as computer-based exam which mainly include objective type questions.
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ACCA program does not required gaining any practical work experience as a compulsory part of its program. |
Practical training experience for 3 years is a compulsory part of CIMA. After completion of all the papers of CIMA, students have to gain training experience in approved organizatins. |
The computer-based exam for first four papers of ACCA can be attempted in any month of the year. However, the exams for remaining paper (whether paper-based or computer-based exam) can only be attempted in March, June, September and December. . |
Each paper of CIMA has a computer-based assessment and can be attempted in any month of the year. The case-study exams are held in February, May, August, and November.
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Eligibility for admission in ACCA
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Eligibility for admission in CIMA
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Exemptions of Papers in ACCA Students, seeking admission in ACCA, are given exemptions from upto nine papers of ACCA depending upon the relevancy of student’s past qualification such as MBA, M.Com and so on. |
Exemptions of Paper in CIMA Students, seeking admission in CIMA, are given exemption from papers of CIMA. Students having MBA or ACCA are given exemptions of first 11 papers and are directly enrolled into strategic level of CIMA. Similarly, for other relevant qualifications exemptions for some papers can be availed. |
As mentioned earlier, the ACCA and CIMA program are run by its administrative bodies (ACCA & CIMA, UK) through its head offices in London, UK and national offices in different countries. Colleges in different countries affiliated with these administrative bodies (ACCA & CIMA, UK) offer tuition for ACCA and CIMA in their respective countries.
Differences in Program structure
Program Structure of ACCA is as follows:
APPLIED KNOWLEDGE PAPERS (3) | ||
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1 | Business and Technology | 2 Hours |
2 | Management Accounting | 2 Hours |
3 | Financial Accounting | 2 Hours |
APPLIED SKILLS PAPER (6) | ||
4 | Corporate and Business Law | 3 Hours |
5 | Performance Management | 3 Hours |
6 | Taxation | 3 Hours |
7 | Financial Reporting | 3 Hours |
8 | Audit and Assurance | 3 Hours |
9 | Financial Management | 3 Hours |
STRATEGIC PROFESSIONAL PAPERS | ||
10 | Strategic Business Leader | 3 Hours |
11 | Strategic Business Reporting | 3 Hours |
Papers to selected from following optional papers. | ||
12 | Advanced Financial Management | 3 Hours |
13 | Advanced Performance Management | 3 Hours |
14 | Advanced Taxation | 3 Hours |
15 | Advanced Audit and Assurance | 3 Hours |
Program Structure of CIMA is as follows:
Certificate in Business Accounting | |
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BA1 | Fundamentals of Business Economics |
BA2 | Fundamentals of Management Accounting |
BA3 | Fundamentals of Financial Accounting |
BA4 | Fundamentals of Ethics, Corporate Governance and Business Law |
Operational Level | |
E1 | Organisational Management |
P1 | Management Accounting |
F1 | Financial Reporting and Taxation |
Integrated Case Study | |
Management Level | |
E2 | Project and Relationship Management |
P2 | Advanced Management Accounting |
F2 | Advanced Financial Reporting |
Integrated Case Study | |
Strategic Level | |
E3 | Strategic Management |
P3 | Risk Management |
F3 | Financial Strategy |
Integrated Case Study | |
3 Years of practical work experience |
Fee structure - Difference
The fee structures for ACCA and CIMA are given here for comparison of the fees of the program. These fees are for Pakistani students for the year 2021 and can vary slightly from country to country as well as with the year of admission.
The fee structure of ACCA is as follows:
Description | Fee 2021 |
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Registration Fee | £ 45 |
Annual Subscription Fee | £ 58 |
Paper fee (Applied Knowledge) | £ 100 per paper |
Paper fee (Appliedl Skills) | £ 111 per paper |
Paper fee (Strategic Professional) | |
- Strategic Business Leader | £ 190 per paper |
- Strategic Business Reporting | £ 140 per paper |
- Optional papers | £ 140 per paper |
The fee structure of CIMA is as follows:
Description | Fee 2021 |
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Registration Fee (once) | £ 77 |
Annual Subscription fee | £ 120 |
Exam Fee | |
Certificate in Business Accounting (per paper/exam) | £ 85 |
Operational level (per paper/exam) Integrated case study (per exam) |
£ 100 £ 180 |
Management level (per paper/exam) Integrated case study (per exam) |
£ 115 £ 180 |
Strategic level per (paper/exam) Integrated case study (per exam) |
£ 165 £ 255 |