Join Hannah Campbell as she compares AAT with other qualifications, and outlines what students can expect when studying ACCA, CIMA, or ICAEW with FI.

The Association of Chartered Certified Accountants (ACCA) 

The ACCA qualification is globally recognised as the largest and fastest-growing professional accountancy body. It opens diverse career opportunities in finance, whether in practice or industry. Like any professional qualification, ACCA requires hard work and commitment, typically taking 3–4 years to complete. AAT students may receive free exemptions for the Applied Knowledge exams, allowing completion in around 2 years.

ACCA equips you with the skills and knowledge to excel as a finance professional, giving you flexibility in your sector, role, and the impact you want to make.

Key facts for ACCA courses are:

• Covers everything from digital, data and technology to advisory and consultancy, as well as both management and financial accounting, giving you a fully-rounded skill set.
• Has four specialist exams to choose from that enable you to specialise and explore a specific career path or sector
• The Qualification is studied across all employment sectors and is recognised in 178 countries across the world
• Membership demonstrates to employers that you have the relevant Practical Experience Requirement (three years) and improves workplace effectiveness through completion of the Ethics and Professional Skills Module.

ACCA Course Structure

ACCA On Demand exams are available all year round and session exam sittings are held in March, June, September and December.

ACCA Global

Chartered Institute of Management Accountants (CIMA)

CIMA is the world’s largest professional body for management accountants. Unlike other qualifications, it focuses on finance and management roles within companies rather than practice. Most students complete CIMA within 3 years, combining theoretical study with practical work experience. While not universally popular, this hands-on element is widely regarded as valuable for professional growth and development.

Key facts for CIMA courses are:

• It combines finance and business; consequently giving you more than just accounting knowledge
• You will not only be financially qualified. You will also be professionally trained in business management. This therefore means you will be capable of advising your future clients on business strategy and risk management
• CIMA is predominantly studied by employees in industry and the public sector, although it does appeal to others
• The CIMA course requires 3 years PER.

CIMA Course Structure

CBAs (Also know as Classroom-Based Assessments) are held on demand, with case study papers on schedule four times a year.

CIMA Global

The Institute of Chartered Accountants in England and Wales (ICAEW/ACA)

Founded in 1880, ICAEW is one of the world’s oldest accountancy bodies, with over 184,500 members and students across 148 countries. ICAEW Chartered Accountants are the UK’s largest source of business advice, reaching more than 1.5 million organisations. The ACA qualification prepares professionals for leadership roles, with over 80 FTSE 100 companies having at least one ICAEW Chartered Accountant on their board.

The ICAEW course is especially popular among those on training contracts with approved employers. AAT-qualified students are exempt* from some Certificate-level papers, allowing fast-tracking to the Professional level. Thanks to FI’s high-quality tuition, most students qualify in around 2½ years.

Key facts for ICAEW courses are:

• ICAEW students must work for an authorised employer. Being in a formal training agreement is also beneficial. You will also need to have regular six-monthly reviews with a senior qualified member of your team
• The AAT-ACA Fast Track route provides level 4 AAT qualified students with up to 5 credits* towards ACA exams. This therefore enables you to qualify as an ICAEW Chartered Accountants in as little as 2 years
• The ACA comprises of 4 components: 15 exams, 450 days of practical work experience, professional development and ethics
• The syllabus and exams will prepare you with the technical knowledge, advisory, commercial and digital skills. Therefore ensuring you you are business-readyfor any organisation
• ACA students have a first time pass rate of 80%
• ACA students and members are in high demand across all sectors, not just in practice (50% work in Industry and Public Sector).

ICAEW Course Structure

*Are you AAT qualified? In this situation, you would be exempt from some of the certificate level papers. These include:

• Accounting, Management Information and Business & Finance
• Assurance if completed optional External Auditing paper at level 4
• Principles of Tax if completed BOTH optional tax papers at level 4.

Want to know more? Please visit www.careers.icaew.com or contact bds@icaew.com

ICAEW careers   Contact ICAEW  

Do you want to find out more about our professional finance and management qualifications?

Qualification pathways

See our qualification guides. Above all, these aim to clearly set out the main points, focus and structure of each qualification that we offer. In addition to this, you will also gain access to an array of helpful articles on FI HUB.

Do you need a some help with your choices?

With FI you are never on your own. You can arrange to speak with one of our experts, who will be happy to help answer any of your questions.

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