AICPA & CIMA (2024)

FAQs

Is CIMA and AICPA the same? ›

The Chartered Institute of Management Accountants® (CIMA) was founded in 1919 and has helped shaped the profession for over a century. In 2017, we came together as AICPA & CIMA to forge a powerful international alliance that promotes accounting and finance in every corner of the world.

CIMA refers to the Chartered Institute of Management Accountants that is an organization based in UK; CPA refers to Chartered Public Accountant, and is a certification that allows one to practice as a professional accountant in US.

CIMA Professional Qualification (CGMA)

This qualification is equivalent to a master's degree in Accounting. This course is for qualified finance professionals who are looking to upskill their business skills while gaining practical knowledge of the industry.

Global Recognition: CIMA is the world's largest professional body for Management Accountants and is highly valued by employers worldwide. This opens up a wide range of job opportunities in different countries and industries.

CMA is more recognised in the US whereas CIMA is a preferred qualification to work in the UK or Europe.

AICPA & CIMA, which together form the Association of International Certified Professional Accountants, and the University of Oxford's Saïd Business School will jointly offer a new executive management program in sustainability for accounting and finance professionals.

There are several qualification providers, but CIMA is the global leader in management accountancy training. Our qualifications are current, innovative and lead to Chartered Global Management Accountant (CGMA) status, the only globally recognised designation for management accountants.

Often considered the most difficult exam, Financial Accounting and Reporting (FAR) has had the lowest passing scores of the four exams. The amount of material CPA Exam candidates have to learn for the exam, coupled with the combination of memorization and application, makes this exam more difficult.

CIMA is the world's largest professional body of management accountants. A CIMA certification gives you an edge over other job applicants. On average, CIMA-certified professionals earn 20% more than their non-certified counterparts.

CIMA, Chartered Institute of Management Accountants is the first known global body of accountancy. On average, it takes 3-6 years to finish the CIMA professional qualification.

What letters do you get after your name with CIMA? ›

A CIMA Associate or Fellow is permitted to use the suffix letters ACMA or FCMA together with CGMA (Chartered Global Management Accountant) after their name.

The CIMA certification focuses more on investment consulting and strategic financial management, while the CFA certification focuses more on investment analysis and portfolio management. Additionally, the eligibility criteria, exam format, and career opportunities differ between the two certifications.

As a tutor, I know that the CIMA course material is complex. Particularly if you have limited previous accounting experience, work full-time, and strive to complete all the exams in 3 years. A combination of these things makes CIMA more difficult. But it's not beyond your ability – if you're absolutely committed.

ACCA (Associate Chartered Certified Accountant)

Once you become a chartered certified accountant with ACCA, the world is your oyster.

CIMA qualification is a big deal and can boost your career

It has a membership of over 280,000 in over 180 countries. If you haven't already figured it out by now, becoming CIMA-qualified is a remarkable feat. It's a distinguished accomplishment in accountancy and in other related spheres.

The Association of International Certified Professional Accountants (the Association) combines the strengths of the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).

The approval of the new association signifies an evolution of the joint venture between the AICPA and CIMA that began in 2011 and launched the Chartered Global Management Accountant (CGMA) designation in 2012.

And in the process of earning this certification, you'll develop your expertise in financial planning, decision support, analysis, control, and professional ethics. On the other hand, the CIMA focuses on different aspects of accounting in the business world, so it makes you consider current trends and industry shifts.

“CPA” stands for “Certified Public Accountant” while “CIMA” stands for “Chartered Institute for Management Accountants.” A CPA title is given to any individual who successfully passed the examinations conducted by the UCPAE (United Certified Public Accountant Examination).