| Institute |
CIMA |
ACCA |
CAT |
ICB |
CFA |
| Full Name |
Chartered Institute of Management Accountants |
Association of Chartered Certified Accountants |
CAT is a qualification belonging to the ACCA (Association of Chartered Certified Accountants) |
Institute of Certified Bookkeepers |
Chartered Financial Analyst |
| What do I become? |
A Chartered Management Accountant |
A Chartered Certified Accountant |
A Certified Accounting Technician |
Junior Bookkeeper -> Senior Bookkeeper -> Technical Financial Accountant -> Financial Accountant |
A financial analyst |
| Designation (what do I write behind my name?) |
ACMA |
ACCA |
CAT |
Student Bookkeeper Ð SBIcb(SA); Certified Junior Bookkeeper Ð CJIcb(SA); Certified Senior Bookkeeper Ð CSBIcb(SA); Certified Technical Financial Accountant Ð CTFAIcb(SA); Certified Financial Accountant Ð CFAIcb(SA) |
CFA |
| Description |
"CIMA focuses on broad business and management skills, while ACCA focusses on financial accounting issues. While there is a substantial common coverage between the CIMA and ACCA syllabi, there are key variations in the areas of emphasis between CIMA and ACCA: CIMA focuses on business and uniquely covers: operations, change management, relationship and project management and marketing. Compared to ACCA, CIMA provides more emphasis on human resource management and applied management accounting techniques. ACCA is focused on professionl practice and uniquely covers: taxation, external audit and assurance and law. ACCA furthermore provides a different emphasis on Information Systems to CIMA." |
"ACCA focusses on financial accounting issues, while CIMA focuses on broad business and management skills. While there is a substantial commonality between the ACCA and CIMA syllabi, there are key variations in the areas of emphasis between ACCA and CIMA. ACCA is focused on professionl practice with its syllabi focussing on financial reporting, external auditing and tax. ACCA uniquely covers: taxation, external audit and assurance and law. CIMA focuses on business and uniquely covers: operations, change management, relationship and project management and marketing. Compared to ACCA, CIMA provides more emphasis on human resource management and applied management accounting techniques. " |
The Certified Accounting Technician (CAT) Qualification will provide you with a solid foundation in finance and accounting Ð providing you with all the necessary technical skills and knowledge required to perform an accounting-support role. |
" The ICB qualifications prepare the learners to perform the duties of a Junior Bookkeeper after 4 subjects, Senior Bookkeeper by adding a further 2 and an Accounting Technician by completing the remaining two subjects and then by adding a further 4 subjects the learner will be able to exit as a Financial Accountant." |
"The CFA programme sets the global standard for investment, knowledge, standards and ethics. It is exclusively concerned with the technical matters that will enable its members to value, trade in and advise on a range of financial investments and derivatives instruments. " |
| Key focus |
Management Accounting |
Tax and Auditing |
"Key areas of accounting, finance, IT and management." |
"Key areas of accounting, finance, tax and law." |
Investment management |
| How long will it take to complete? |
An estimated 3-5 years or 6-12 months per level. Most students attend 2-3 subjects per exam sitting and there are a maximum of 15 subjects to complete if you start at Certificate-level. |
An estimated 3-5 years or 6-12 months per level. Most students attend 2-3 subjects per exam sitting and there are 17 subjects to complete. |
"An estimated 2-3 years, if you attempt the recommended 2-3 papers in each six-month period." |
18-24 months to become a Financial Accountant. But remember you can exit at any level. It can take up to nine months to become a Junior Bookkeeper. |
6-12 months per level (there are 3 levels) |
| What will it cost? |
"You will have to pay institute fees (membership registration and annual subscription, in the region of GBP150, as well as exam fees, which are in the region of GBP60-100. You will also have to pay tuition fees (for classes or home study and study material). IBTC's fees include your study material. As a guideline, Home Study fees are generally in the region of R2,500-R3,500 per subject. Classes fees are in the region of R4,500-R5,500 per subject. See the 'fees schedule' on our website for the latest fees. " |
"You will have to pay institute fees (membership registration and annual subscription, in the region of GBP150, as well as exam fees, which are in the region of GBP60-150. You will also have to pay tuition fees (for classes or home study and study material). IBTC's fees include your study material. As a guideline, Home Study fees are generally in the region of R2,500-R3,500 per subject. Classes fees are in the region of R4,500-R5,500 per subject. See the 'fees schedule' on our website for the latest fees. " |
"You will have to pay institute fees (membership registration and annual subscription, as well as exam fees). These fees are in the region of R3,000. You will also have to pay tuition fees . IBTC's fees include your study material. As a guideline, Home Study fees are generally in the region of R1800 - R2,500 per subject. See the 'fees schedule' on our website for the latest fees. " |
"You will have to pay institute fees (membership registration R380.00 and exam fees are R 580 per subject). You will also have to pay tuition fees . IBTC's fees include your study material. As a guideline, Home Study fees are generally in the region of R1,600 - R2,000 per subject. Classes are in the region of R3,500 per subject. IBTC also offers you the option to pay your institute fees to IBTC and we will arrange your ICB registration on your behalf. See the 'fees schedule' on our website for the latest fees. " |
"You will have to pay institute fees (membership registration and exam fees). These fees are in the region of $1,000. You will also have to pay tuition fees . IBTC's fees include your study material. As a guideline, Home Study fees are generally in the region of R5,000 per level. Classes are in the region of R10,000 per level. See the 'fees schedule' on our website for the latest fees. " |
| Where can I study? |
IBTC (or any other CIMA Quality Provider). Insist on proof of the institute's provider status. |
IBTC (or any other ACCA Gold Provider). Insist on proof of the institute's ACCA provider status. |
IBTC (or any other ACCA Gold Provider). Insist on proof of the institute's ACCA provider status. |
IBTC (or any other ICB accredited). Insist on proof of the institute's accreditation status. |
IBTC (or any other CFA accredited prep-provider). Insist on proof of the institute's accreditation status. |
| How can I study? |
"IBTC offers Home Study, evening and Saturday classes." |
IBTC offers Home Study (fully supported with access to an online tutor and electronic study aids) and full-day exam preparation classes. |
IBTC offers Home Study (fully supported with access to an online tutor and electronic study aids). |
IBTC offers home study and Saturday classes. |
IBTC offers home study and evening classes. |
| Entrance requirement |
There are no formal academic qualifications necessary to register for the CIMA Qualification. |
There are no formal academic qualifications necessary to register for the ACCA Qualification. |
There are no formal academic qualifications necessary to register for the CAT Qualification. |
There are no formal academic qualifications necessary to register for the ICB Qualification. |
Bachelor's degree or at least 4 years relevant experience |
| Exemptions |
Students with prior accounting qualifications are encouraged to apply for exemptions at www.cimaglobal.com. Exemption fees apply. |
Students with prior accounting qualifications are encouraged to apply for exemptions at www.accaglobal.com. Exemption fees apply. |
"Your previous qualifications may entitle you to exemptions from some of the CAT subjects. This means that you will start your studies at the most appropriate level according to your knowledge and skills, and, more importantly, avoid studying subjects you already know." |
"Your previous qualifications may entitle you to exemptions from some of the ICB subjects. This means that you will start your studies at the most appropriate level according to your knowledge and skills, and, more importantly, avoid studying subjects you already know." |
None |
| Syllabus |
"There are 4 levels to the CIMA qualification once the Certificate-level has been completed:(1) operational level, (2) management level, (3) strategic level and (4) test of professional competence in management accounting." |
The ACCA qualification consists of the Fundamental Level (9 subjects) and Professional Level (5 subjects). |
The CAT syllabus consists of 10 subjects. |
"There are 4 levels to the ICB's Accounting Certification Programme, (1) Junior Bookkeeper, (2) Senior Bookkeeper, (3) Technical Financial Accountant and (4) Financial Accountant." |
CFA is exclusively concerned with financial analysis and uniquely covers: analysis of a wide range of investments; asset valuation; portfolio management; quantitative methods; and economics. |
| Syllabus topics |
"The CIMA qualification addresses various functional areas in business and the design and implementation of business strategy (the enterprise subjects), ways of generating information to evaluate and control business performance and risk (the performance subjects), and financial and investment strategies (the finance subjects)." |
"Topics covered are, inter alia, financial management, performance management, taxation, auditing, reporting and business analysis." |
"Topics covered are, inter alia, recording financial transactions, management control, maintaining financial records, accounting for costs, managing people and systems, drafting financial statements, planning, control and performance management, implementing audit procedures, preprating taxation computations and managing finances." |
"Topics covered are business literacy, bookkeeping to trial balance, paryoll and monthly SARS returns, computerised bookkeeping, financial statements, cost-and-managemetn accounting, income tax returns, business law and accounting control, corporate strategy, management accounting control systems, financial reporting and regulatory frameworks, accounting theory and practice." |
"Level 1: corporate finance, financial statement analysis, macro- and micro-economics, quantitive methods of investment analysis and management, and financial markets and instruments. Level 2: investment return and risk, ethics, equity and securities, investment choices and recommendations. Level 3: Ethics and professional conduct, and preformance standards and measurement techniques." |
| Exams |
There is no time limit to completing the exams and individual subject passes are allowed for all papers. Exams can be attempted twice a year in May and Nov. The pass rate requirement is 50%. |
There is no time limit to completing the exams and individual subject passes are allowed for all papers. Exams can be attempted twice a year in June and December. The pass rate requirement is 50%. |
There is no time limit to completing the exams and individual subject passes are allowed for all papers. Exams can be attempted twice a year in June and December. |
"There is no time limit to completing the exams and individual subject passes are allowed for all papers. Exams can be attempted three times a year in May, Aug and Nov." |
Level 1: June and Dec; Level 2: June; Level 3: June |
| Important dates |
Member registration closing dates: 30 January and 31 Aug; Exam registration closing dates:14 March and 14 Sept |
Member registration closing dates: 31 December and 30 July. Exam registration closing dates:15 April and 15 Oct |
Member registration closing dates: 31 December and 30 July. Exam registration closing dates: 31 Dec (for the June exam) and 15 Aug (for the December exam). |
"No member registration cut-off date apply. Exam registration cut off dates: 28 Feb (for May exam), 30 May (for Aug exam) and 30 Aug (for Nov exam)." |
Exam registration cut-off dates: mid May for June exam and mid September for Dec exam. |
| Which qualification is better? |
"CIMA or ACCA? Put simply, the difference is that ACCA is about looking at accounting historically and CIMA looks at accounting into the future. It's a personal decision based on where you see yourself once you're qualified. If financial accounting, reporting, and tax is your thing then ACCA is the way to go. However, if management accounting, analysis, decision-making is your thing then CIMA is the way to go." |
"CIMA or ACCA? Put simply, the difference is that ACCA is about looking at accounting historically and CIMA looks at accounting into the future. It's a personal decision based on where you see yourself once you're qualified. If financial accounting, reporting, and tax is your thing then ACCA is the way to go. However, if management accounting, analysis, decision-making is your thing then CIMA is the way to go." |
"CAT or ICB? CAT is more of an Chartered Accountant stream whilst ICB is more appropriate for the Bookkeeper, Accounting Technician and Accounting Officer.ACCA's Certified Accounting Technician (CAT) and ICB's Certified Technical Financial Accountant (CTFA) are both Level 5 Qualifications and Designations. The ICB qualifications prepare the learners to perform the duties of a Junior Bookkeeper after 4 subjects, Senior Bookkeeper by adding a further 2 and an Accounting Technician by completing the remaining two subjects and then by adding a further 4 subjects the learner will be able to exit as a Financial Accountant. In addition, the ICB programmes are unit standard based allowing the learners to accumulate credits towards the various programmes whilst the CAT is an exit level qualification. ICB has another major advantage over CAT in that there is a level 6 Certified Financial Accountant qualification, whilst if you proceed to ACCA after CAT, you can only exit at level 7. Of course learners could go from ICB level 5 to ICB level 6 and then on to ACCA level 7 if they choose. " |
"CAT or ICB? CAT is more of a Chartered Accountant stream whilst ICB is more appropriate for the Bookkeeper, Accounting Technician and Accounting Officer.ACCA's Certified Accounting Technician (CAT) and ICB's Certified Technical Financial Accountant (CTFA) are both Level 5 Qualifications and Designations. The ICB qualifications prepare the learners to perform the duties of a Junior Bookkeeper after 4 subjects, Senior Bookkeeper by adding a further 2 and an Accounting Technician by completing the remaining two subjects and then by adding a further 4 subjects the learner will be able to exit as a Financial Accountant. In addition, the ICB programmes are unit standard based allowing the learners to accumulate credits towards the various programmes whilst the CAT is an exit level qualification. ICB has another major advantage over CAT in that there is a level 6 Certified Financial Accountant qualification, whilst if you proceed to ACCA after CAT, you can only exit at level 7. Of course learners could go from ICB level 5 to ICB level 6 and then on to ACCA level 7 if they choose. " |
"CFA, CIMA or ACCA? Which is better? The CFA qualification can not be compared to CIMA or ACCA, as it's a different type of qualification. With CFA you are an investment specialist, while CIMA and ACCA is more focussed on the Accounting role. Depending on your interests and aptitude, your future career choices will determine if CFA is the best qualification for you." |
| Practical experience |
As soon as you have successfully completed the Managerial level exams and have a minimum of three years relevant practical experience you should submit your Career Profile for assessment. At the very latest you must make an application within five years of completing your final TOPCIMA exam. If you don't submit your Career Profile within five years you will be removed from the register of passed finalists. |
"What do I need to do? 1. gain a minimum of three years' supervised, relevant practical experience. 2. satisfy the minimum competence requirements for membership. 3. record your experience in your personal Student Training Record (STR)." |
"In addition to completing the exams, you will also need to gain at least one year's relevant, supervised work experience in order to qualify and use the CAT letters after your name. Practical training can be completed in any size or type of business, and in any combination of sectors, before, during or after completing the exams. Previous qualifications may also entitle you to claim exemption from the practical experience requirement, for example, completion of an NVQ Accounting at Level 4." |
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Four years of relevant work experience is required for regular membership. |
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