ACA/ ACCA/ CIMA? Where to start?

5p9arw38djv2b4

I'd like to improve my financial knowledge - I work in a policy type role, (deal with some financials only for review) but I feel the accounting skill set is a great discipline to have. However I would not be aiming to become a fully qualified accountant, moreso I want the knowledge to interpret numbers better.

I don't know where to start. I have a BSC and MSc in non finance subjects, although I did take economics courses.

I can find book keeping or accounting technician courses, which are probably not what I need, or maybe the CIMA cert in Business Accounting which sounds like it might give that overview understanding I'm looking for - anyone done it or know if it's worth the money? I started reading reviews and got bogged down in people saying ACCA/ ACA is better?

I just need a financial management for beginners overview type course! Any help appreciated

pedroeibar1

For a general role in industry, courses affiliated to the CIMA route would IMO be better geared to what you want. The IMI ran a course 'Finance for the non-financial manager' that was good. It'd be worth looking at what they are doing now. Forget the accounting technician stuff, it'd bore the @rse off you and not much use. All you need to know is how to read a balance sheet and understand cashflow.

thegolfer

There's a diploma in ifrs which may interest you. Financial reporting etc, it's an add on for the accountants.

No real difference between Aca/acca both accountants, and take a while to complete.

The dipifrs 6 months about.

dudara

I did the CIMA cert very many years ago. At the time I was implementing ERP systems and while I had learned a lot of accounting on the job, I wanted to make it a little more formal.

The CIMA cert is good but I’d describe it as nuts & bolts in the sense that it doesn’t really teach you how to interpret a P&L, BS or CF. You’ll know what all the components are, and how they’re calculated, but the overall art of interpretation is not on scope of the course. Having said that, I thought it was a solid foundation course.

5p9arw38djv2b4

Thanks so much everyone. I had eyed up the IMI course but was wondering if I'd get more out of CImA. I'll take a look at the others mentioned here too.

If you don't want to become an accountant don't do the accounting exams.

There are Finance for non financial managers courses available - I would look at those first.

Not knowing what you do in life I can't imagine basic bookkeeping or debits and credits would be much use.

dudara

I would also add that a lot of clients I’ve worked with have commented on the fact that I have the cert. it’s definitely viewed favourably by other accountants despite the fact that it’s not a full accountancy qual.