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.
Chartered accountant
The Institute of Chartered Accountants in England and Wales (ICAEW)
140,000 members plus students in 160 countries
Normally through a training agreement with an authorised employer
450 days of relevant work experience
Yes - five years to complete work experience requirement
Two A2 levels and three GCSE passes, (or their equivalents). Most employers offering ACA training agreements will also expect a good degree.
Most ACA trainees enter into a training agreement with an employer who provides paid tuition, study leave and mentoring.
Chartered certified accountant
The Association of Chartered Certified Accountants (ACCA)
586,000 members and students in 170 countries
Training agreement or independently
Three years of relevant work experience
Yes - ten years to pass exams
Two A-levels and three GCSEs (or their equivalents) including English and maths. Most employers offering ACCA training will also expect a good degree.
ACCA qualification isn't tied into a training agreement, so you can move between employers while training.
Management accountants, who are employed within a business rather than at a specialised accountancy firm.
The Chartered Institute of Management Accountants (CIMA)
203,000 members and students in 173 countries
Training agreement or independently
Three years of relevant work experience
No time limits
No entry requirements, but most employers offering CIMA training will also expect a good degree.
The CIMA qualification is targeted at students who are aiming to become management accountants.