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Difference between CIMA and ACMA

Difference between CIMA and ACMA

Are you considering pursuing your CIMA or ACMA designation? Do you know the difference between the two? In this blog post, we will outline the key differences between CIMA and ACMA, so you can make an informed decision about which designation is right for you. Stay tuned!

What is CIMA?

CIMA Chartered Institute of Management Accountants is the world’s largest professional body of management accountants. CIMA members work in every sector of business and finance, in over 170 countries around the world.

  • CIMA works to help businesses of all sizes thrive, by developing qualified, ethical, and responsible leaders and managers. CIMA members provide insights and analysis that enable businesses to make informed strategic decisions, navigate change and drive sustainable growth.
  • CIMA also advocates for the development of robust public financial management systems that can help create inclusive societies and deliver lasting economic success. CIMA’s Insights team provides research and thought leadership on a range of topics relevant to business and society, including technology, innovation, artificial intelligence, diversity & inclusion, sustainable business models, and responsible leadership.
  • CIMA is headquartered in London with regional offices located in Mumbai, Brussels, Dubai, and Manila. CIMA is an affiliate of the Association of International Certified Professional Accountants (the Association).

What is ACMA?

ACMA Association of Certified Chartered Accountants is ACMA’s official long name. ACMA is a professional body for management accountants and financial managers, providing education and development opportunities, support, and advice. ACMA connects members with each other and with leading-edge thinking on management accounting issues.

ACMA promotes the profession of management accounting and advocates its value to businesses, governments, and other organizations. ACMA advances the global profession of management accounting by developing and promoting excellence in financial management.

ACMA strives to be the recognized leader in providing Chartered Accountants with the resources they need to excel in their careers. ACMA also provides a range of services for its members, including educational resources, networking events, publications, and discounts on products and services.

Difference between CIMA and ACMA

CIMA and ACMA are both accountancy bodies that offer professional qualifications.

  • CIMA is the Chartered Institute of Management Accountants, while ACMA is the Association of Certified Chartered Accountants.
  • CIMA qualifications are focused on management accounting and cover topics such as financial strategy and business decision-making.
  • ACMA qualifications are focused on financial reporting and auditing and cover topics such as financial regulation and international accounting standards.
  • Both CIMA and ACMA offer a range of qualifications at different levels, from entry-level certificates to professional chartered status.

Which body you choose to register with will depend on your career aspirations and areas of interest.

Conclusion

The Certified Management Accountant (CIMA) credential is offered by the Chartered Institute of Management Accountants (CIMA). CIMA is a global organization and the ACMA designation is an Australian accounting designation. There are some key differences between the two designations.

First, CIMA offers more generalist courses while ACMA has more specialized courses in auditing and taxation. Second, CIMA has a higher level of difficulty to pass their exams when compared to ACMA. Finally, CIMAs are able to work in any country around the world while ACMAs can only work in Australia. If you are interested in pursuing an accounting designation, it’s important to understand the difference between CIMA and ACMA so that you can make an informed decision about which one is best for you.

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