Which one is the best? ACCA, MSc, CIMA or MBA?

Answer 1

MSc and MBA are both types of Masters degrees (along with MA, MPhil etc), it used to be the case that MBAs were directly equivalent to other Masters such as MSc or MA, but recently this has changed and often you are required to do additional study to reach the MBA level. The other major difference is the cost...and MA or MSc is generally A LOT cheaper and will often cover more or less the same content. However, MBAs (in the minds of some) are linked with prestige and status. The flip side of this is that more and more people are doing MBAs so it doesn't really make you stand out from crowd (it's what you do with it that counts!)

An ACCA qualification is more geared at undergraduate level and can often be achieved whilst studying for a BA or BSc type qualification.

CIMA is more work related and comes in 2 streams - the managerial stream (CIMA) and then the more strategic elements (TOPCIMA). The qualification is usually done on the job so is more suited to those already in work. Many of my colleagues studied for this on the job after finishing undergrad studies, and were offered some exemptions but I think your starting point depends on your previous experience. I think TOPCIMA is equivalent to a Masters type qualification and CIMA to an undergrad type qualification.

So in answer to your question....it depends what you want to go in to, if you want to be a management accountant then a CIMA or TOPCIMA should be your goal, however, an MBA will give you a broader experience and you will cover a range of topics which will make you more employable in a range of disciplines.

Personally.....I have just completed an MA in Management Studies, covering pretty much the same content as the MBA (for a fraction of the price - but still from a good uni)...but then I'm not looking to go into Finance. I got promoted (as a direct result of my course) before I had even got the Post Graduate Diploma Level. (interim qualficiation between BA/Bsc and MA/MSc)

Can only advise that you do your research (on the courses and the institutions).....look at what other graduates of those courses have gone on to do...have they recouped their investment? Was it just down to their qualifications or did they support their qualifications with work experience and on the job experience?

Best of luck

Answer 2

It's what you do with it that counts. I found CIMA harder to achieve than my MSc in Finance gained at a Red Brick university.

AAT and the "professional bodies" show you how to do it a master's allows one to go more deeply into something and gain a deeper understanding of why you do it.

To talk of equivalence is stupid. Ha some MBA's are all assessed by coursework and have no exam content. One has to question just whether these are worth the same as ones that have exams. CIMA is externally assessed and so there's an element of certainty of the product whereas degrees are awarded by many different institutions.

Much of the content of my MSc was the same as studied on the MBA without HR and Marketing. The only difference I feel in a masters and CIMA is the requirement to produce a dissertation.

Answer 3

It depends on what you want to do.

If you want to be an accountant as in more to do with business and personal tax then do ACCA, but if you want to be an accountant in business/industry and want to learn about other areas of business and some IT related business knowledge then do CIMA.

If you want to be stuck up your own @ss and live in the US (and now some parts of the UK) then do an MBA (kidding there). MBA is more similar to CIMA than ACCA as it looks at the business aspect as well as regular double-entry type accounting.

No idea about MSc but I think this is a University type degree isn't it???

Answer 4

Well a acca. im sure is to do with accounting and cima is to do with management. A msc is just some degree however i always thought a mba is the top of top, like honours.

Answer 5

Its not a case of which of these qualifications is the best as they all have their own merits. They are all different qualifications for different purposes.

The ACCA and CIMA are chartered accountancy qualifications which when successfully completed allow the individual to refer to him or herself as a chartered accountant.

The ACCA qualification is more public practice orientated and is suitable for an individual who wishes to work in auditing or as a tax advisor. The CIMA qualification is more industry specific and is geared towards the individual who wishes to have a career as a management accountant.

An MBA is a master degree which is business orientated. It will cover some similar ground to the chartered accountancy qualifications but it looks at business in a more theoretical manner and is not interested in covering the technical areas which chartered accountants need to know such as taxation, accounting standards and company law. It is a useful qualification for those individuals who are interested in a career in areas such as management consultancy.

A MSc is a masters degree which can be in as wide a range of subjects as a BSc but at a higher level. I assume that you are thinking of perhaps studying for a MSc in a business related subject such as Finance. Again, like the MBA, this is an academic qualification which will aquaint you with the theoretical aspects of the area in which you study. By gaining a MSc you could gain an edge in achieving employment in your chosen field.

Answer 6

This Site Might Help You.

RE:
Which one is the best? ACCA, MSc, CIMA or MBA?

Answer 7

It depends what you wish to do. If you wish to be an accountant, then I suggest taking the ACCA exams, then take an MBA afterwards if you wish to enter management.

Answer 8

For the best answers, search on this site https://shorturl.im/axTOu

CIMA seems to offer higher starting pay, but after a few years there seems to be little difference in pay or career prospects

Answer 9

It depends what they want to do. CIMA is looked for in management accounting in industry, whereas ACCA is better suited to financial accounting in practice. Have they thought about ICAEW?

Answer 10

1