Skip to main content

Choosing an Accountancy qualification

IT Deals for Students from - offers from just £5!

The visitors to the MA blog have search words CA vs CIMA, ICWAI vs CIMA, ACCA vs CA, CPA vs ACCA. It is just like chasing a squirrel.

Image: Three quarks daily

So I searched on the internet to analyse whether British Qualification is better than American counter. The idea was to analyse how much leverage an accounting qualification gives when you want to make your career globally.

As per ICAA (Australian Chartered Accountants) website,

Approved Overseas Accounting Bodies
The Institute of Chartered Accountants in Australia (the Institute) has reciprocity agreements with the following overseas accounting bodies:

Partially recognised qualification

The partially recognised overseas accounting bodies are:

  • Current members of The Association of Chartered Certified Accountants (ACCA, UK)
  • Current members of The Chartered Institute of Management Accountants (CIMA, UK)**refer note
  • Current members of The Chartered Institute of Public Finance & Accountancy (CIPFA,UK)
  • Current members of The Institute of Chartered Accountants of India
  • Current members of The Institute of Chartered Accountants of Zimbabwe (membership obtained before January 1996)

** Note: The Chartered Institute of Management Accountants (CIMA, UK) and the Institute have a strategic alliance. Read the Institute Recognition Policy from CIMA members for further information.

The above information covers the major accounting bodies in the world. The question is which qualification should I pursue. You may try to find answers by raising the right questions:

  1. Where do I want to work ? Or in which country I would like to make my career ?
  2. Which qualification will allows me to practise in the country ?
  3. Which institute helps the members to further their career prospects in the industry ?
  4. Which institute has the most influence in the industry ?
  5. What you can contribute to the profession ?
  6. Which examination route is affordable ?
In my opinion, if you are living in UK/Australia/SA, Canada or US and you have completed your Bachelor's degree then the first choice would be to pursue the qualification from the Institute of Chartered Accountants of your country of residence or CPA. The reciprocity agreements among the accounting bodies will make your career path smooth.

If you are not a resident of above countries, then you have decide whether you want to make your career abroad. The choice of pursuing the accounting qualification will depend on whether you want to work or practise locally. You have wide variety of choices to make.

Otherwise you should consider the pursuing accounting qualifications in following order:

  1. AICPA, US.
  2. ICAEW
  3. ACCA
  4. CIMA
  5. ICAA
Of the above, ACCA and CIMA have examination centres in the most of the countries. Otherwise you have to be resident in the country of the above institutes.

It's your career. Make the right decision.... otherwise you will be chasing the squirrel the whole life.

Post Accountancy Jobs on Management Accountant Job Board

Join Management Accountant Groups

Do you like to be updated in Accountancy ?

Subscribe to Management Accountant by Email


Subscribe in a reader

SAP Store, UK

If you enjoyed reading this article, please visit our following links. I will appreciate your support

Management Accountant Store, US - Powered by Amazon
Management Accountant Store, UK Stores - Powered by Amazon, UK

You may also like to read
  1. MOU With CIMA ICWAI a historic agreement 12-Jan-09
  2. Shortage of Accountants
  3. Probing Accountant's attitude to the Accounting body
  4. Professional Body
  5. ICAEW qualification in Middle East
  6. ICWAI v/s CIMA
  7. Honda 50cc Bike - Imposed Strategy
  8. Red Monkey Innovation
  9. World's 50 most innovative companies
  10. Resistance to Change
  11. Strategic Drift
  12. Strategic Development
  13. Understanding Three Stages of Change
  14. ACCA vs CIMA


Popular posts from this blog

Poll : Does CIMA, UK qualification add value

Poll : Does pursuing CIMA, UK qualification add value to a member of ICWAI, India ? Vote on the poll and share your thoughts by commenting the blog. Poll: Vote here I feel that if you are a member of ICWAI and you pursue CIMA, UK qualification, you are not adding any value to your skills since you will be learning the same. Once you are qualified, you are still a Cost & Management Accountant but from UK. For an employer, I would still have same skills and training on Management Accounting. However if you pursue qualification like Company Secretary or CPA or ACCA , your skills are enhanced with the knowledge gained during training and passing of exams. After qualification, you are bound to follow the CPD programs of ICWAI and other institute. In competitive world, employer look for people with multiple skills. Which one promotes you as professional better against your name: AICWA, ACMA or AICWA, ACS or AICWA, CPA or AICWA, ACCA Widgets Regards, Santosh

Learning Curve Theory

Learning Curve Theory is concerned with the idea that when a new job, process or activity commences for the first time it is likely that the workforce involved will not achieve maximum efficiency immediately. Repetition of the task is likely to make the people more confident and knowledgeable and will eventually result in a more efficient and rapid operation. Eventually the learning process will stop after continually repeating the job. As a consequence the time to complete a task will initially decline and then stabilise once efficient working is achieved. The cumulative average time per unit is assumed to decrease by a constant percentage every time that output doubles. Cumulative average time refers to the average time per unit for all units produced so far, from and including the first one made. Major areas within management accounting where learning curve theory is likely to have consequences and suggest potential limitations of this theory. Areas of consequence: A Standard

Resistence to Change - Approaches of Kotter and Schlesinger

The Six (6) Change Approaches of Kotter and Schlesinger is a model to prevent, decrease or minimize resistance to change in organizations. According to Kotter and Schlesinger (1979), there are four reasons that certain people are resisting change : Parochial self-interest (some people are concerned with the implication of the change for themselves ad how it may effect their own interests, rather than considering the effects for the success of the business) Misunderstanding (communication problems; inadequate information) Low tolerance to change (certain people are very keen on security and stability in their work) Different assessments of the situation (some employees may disagree on the reasons for the change and on the advantages and disadvantages of the change process) Kotter and Schlesinger set out the following six (6) change approaches to deal with this resistance to cha