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There are three key professional qualifications that provide routes into the accounting world: the ACA, the ACCA and CIMA. There's no "right" or "wrong" qualification to choose, but making a smart choice that suits you best from the options available to graduates can be key to long-term success.
All three qualifications typically take three to five years to complete, are normally undertaken as part of a graduate role combining periods of work experience and study, and are recognised globally. There are, however, some important differences between them, which we've summarised for you.
ACA
Qualification obtained
Chartered accountant
Awarding body
The Institute of Chartered Accountants in England and Wales (ICAEW)
Number of members and locations
140,000 members plus students in 160 countries
Common career paths
- Employment at accountancy firm including audit work
- Employment in private or public sector organisation
- Starting own business
Method of training
Normally through a training agreement with an authorised employer
Work experience requirement
450 days of relevant work experience
Time limit on training period?
Yes - five years to complete work experience requirement
Graduate entry requirements
Two A2 levels and three GCSE passes, (or their equivalents). Most employers offering ACA training agreements will also expect a good degree.
What's special about this route?
Most ACA trainees enter into a training agreement with an employer who provides paid tuition, study leave and mentoring.
ACCA
Qualification obtained
Chartered certified accountant
Awarding body
The Association of Chartered Certified Accountants (ACCA)
Number of members and locations
586,000 members and students in 170 countries
Common career paths
- Employment at accountancy firm including audit work
- Employment in private or public sector organisation
- Starting own business
Method of training
Training agreement or independently
Work experience requirement
Three years of relevant work experience
Time limit on training period?
Yes - ten years to pass exams
Graduate entry requirements
Two A-levels and three GCSEs (or their equivalents) including English and maths. Most employers offering ACCA training will also expect a good degree.
What's special about this route?
ACCA qualification isn't tied into a training agreement, so you can move between employers while training.
CIMA
Qualification obtained
Management accountants, who are employed within a business rather than at a specialised accountancy firm.
Awarding body
The Chartered Institute of Management Accountants (CIMA)
Number of members and locations
203,000 members and students in 173 countries
Common career paths
- Employment in private or public sector organisation
- Starting own business
- Employment at accountancy firm but NOT including audit work
Method of training
Training agreement or independently
Work experience requirement
Three years of relevant work experience
Time limit on training period?
No time limits
Graduate entry requirements
No entry requirements, but most employers offering CIMA training will also expect a good degree.
What's special about this route?
The CIMA qualification is targeted at students who are aiming to become management accountants.
