The CIMA difference

A comparison between CIMA and ACCA

CIMA – our relevance to business
CIMA, the Chartered Institute of Management Accountants, is acknowledged by
employers as the global quality standard in management accounting with 172,000
members and students operating at the heart of business in 168 countries.
CIMA Business Success Wheel™
CIMA’s qualification is driven by the needs of business to
produce financially qualified business leaders. The syllabus and
examinations are distinguished by their relevance to business and
their dedicated focus on developing the financial, non-financial
and management skills needed to sustain organisational success.
CIMA’s Business Success Wheel™ illustrates the characteristics
CIMA believes are required for this success. The integrity of this
model was reinforced through testing with CIMA employers
internationally, to ensure they accepted and agreed with the
value of the success criteria.
In every area of the CIMA Business Success Wheel™, CIMA’s
syllabus delivers more relevant competencies.
The results of the comparison study were summarised as far
as possible in relation to the competencies depicted in the
CIMA Business Success Wheel™. This enables conclusions on
qualification requirements to be linked directly to their likely
contribution to sustainable business success, and provides a
basis to explain how CIMA’s qualification equips its members
for business.
The summaries from this process are shown in the table opposite.
‘CIMA provides a much wider background than just being
able to read figures. It’s like an MBA with a strong emphasis
on finance.’
Angus Gore-Andrews
Assistant Store Manager,
Jardine Matheson, Hong Kong
Key points of The University of Bath study revealed the focus between the CIMA and ACCA syllabi, highlighting
areas of unique coverage and significant advantage.
difference
CIMA ACCA

CIMA is focused on business and ACCA is focused on professional practice

‘I never wanted to be a
stereotypical accountant.
I wanted to be part of the
action – rather than part of
the reaction – in business.
That’s what the CIMA
qualification has enabled
me to be.’
Paul McNiven FCMA
Product Development
Controller, Ford, UK
uniquely covers: and uniquely covers:
• operations • taxation of corporate and non-corporate
• change management entities (using actual tax rules)
• relationship and project management • external audit and assurance
• marketing. • law (although the CIMA Certificate in Business
Accounting covers this topic).
CIMA provides more emphasis on: ACCA provides a different emphasis on:
• human resource management • information systems.
(more thoroughly and at a higher level)
• applied management accounting techniques.
The comparative research has concluded that CIMA members are better qualified to contribute
to sustainable organisational success. CIMA combines the rigour of an accounting qualification
with the business skills needed to offer strategic advice.

CIMA Business CIMA papers Comparative coverage of elements of ACCA papers

Success Wheel™ E3, E2, E1 Strategy P3

content coverage by F3, P2, P1 Planning P4, P5, F9
paper CIMA v ACCA E3, E2, E1 Leadership P3

P3 Risk and control P4, P5

CIMA coverage provides more
relevant competence in at least P1, P2 Efficiency and effectiveness P5, F5, F9
one paper
F3, E2 Project management P3
No distinction
E2, E1 Motivation F1
CIMA coverage provides less
relevant competence in at least E3, E1 Innovation -
one paper E1 Customer value -
The CIMA advantage
‘The CIMA qualification
provides our transactional
finance team with the
essential knowledge required
to operate efficiently. We
support our staff effectively,
improving job satisfaction
and increasing staff retention.
We hope to develop future
financial leaders with the
continued support from CIMA.’
Alexander Tan
Finance Director,
Philips Lighting, East Asia
CIMA works closely with employers and sponsors
leading-edge research to constantly update our
qualification, our practical experience requirements
and our members’ professional development.
In today’s business environment organisations For organisations looking to recruit, train,
are increasingly under pressure to ensure develop and retain the best talent, the CIMA
a sustainable business model, manage qualification offers their employees practical
stakeholders and remain competitive. skills, the opportunity to tackle challenging
Never before has there been a greater and rewarding aspects of business, and the
need for organisations to train and develop potential to drive enhanced performance
employees to gain broad business knowledge across many different sectors.
with a strong financial emphasis to develop
CIMA members have the technical ability,
their skills and manage the impact of the
knowledge and competence to drive your
challenging business environment.
business forward. This is underpinned by
CIMA members form a global network CIMA’s commitment to the Royal Charter
of business leaders with a reputation for which ensures that we maintain a credible,
delivering both sound financial management professional and regulated profession.
and superior business performance. CIMA
training gives employees the unique skills
required to support organisational growth
and development, providing:
• strategic insight and advice
• decision support for non-financial managers
• risk management and governance
• efficiency and process design
• performance enhancement.
The difference is Award - Member of the Chartered Institute of Management Accountants

management T4
Test of Professional Competence in Management Accounting

competence level
Professional
Part A Part B
CIMA is the only professional accounting Initial Professional Case Study
body that revises its syllabus and related Development – Work Based Examination based on pre-seen
Practical Experience. and unseen material.
examinations every four to five years,
following a comprehensive consultation
and research programme to ensure that the
syllabus and examinations reflect the current

Strategic level
needs of business. All of the syllabus content Paper E3 Paper P3 Paper F3
is international in scope and the structure Enterprise Performance Financial
has been carefully considered to reflect Strategy Strategy Strategy
the importance of both examinations Award - CIMA Advanced Diploma in Management Accounting
and practical experience.

Management level
Paper E2 Paper P2 Paper F2
We require a high degree of first-hand Enterprise Performance Financial
experience of business issues in order to Management Management Management
qualify and remain a member of CIMA.
This ensures that they are clear about their Award - CIMA Diploma in Management Accounting
Operational level

objectives and are serious about making a

Paper E1 Paper P1 Paper F1
real difference in business.
Enterprise Performance Financial
Operations Operations Operations
The CIMA Professional Qualification has
four distinct levels: operational, management,
Enterprise Performance Financial
strategic and the test of professional pillar pillar pillar
competence. Each level is progressive
Pre-requisite entry requirements (e.g. CIMA Certificate in Business Accounting,
and will deliver skills at each level. degrees in business or accounting or AAT Technician/Diploma level).

A combination of three years’ practical

experience, successful completion of the exams Award - CIMA Certificate in Business Accounting
and the test of professional competence will
ensure individuals have the skills required to
add value to businesses. They will also gain Paper C01 Paper C02 Paper C03 Paper C04 Paper C05
Fundamentals of
access to the designatory letters ACMA – Fundamentals Fundamentals Fundamentals Fundamentals
Ethics, Corporate
of Management of Financial of Business of Business
Governance and
Associate Chartered Management Accountant. Accounting Accounting Mathematics Economics Business Law
CIMA is the only accountancy qualification focused solely on business. CIMA members
are financially qualified business leaders that provide meaningful analysis that helps
them – and their colleagues – make smarter decisions about the whole business.
For students and employers seeking forward thinking and value adding business
professionals, the choice is clear. Choose CIMA.

Discover more about the CIMA difference:

www.cimaglobal.com/cimadifference

‘We use CIMA people because they know what drives

the business and the information needed to deliver it.’
Helen Weir FCMA
Group Executive Director, Retail Banking
Lloyds TSB, UK

Chartered Institute of
Management Accountants
26 Chapter Street
London SW1P 4NP
United Kingdom
T. +44 (0)20 8849 2251
F. +44 (0)20 8849 2250
E. cima.contact@cimaglobal.com
www.cimaglobal.com/cimadifference

For a full list of CIMA global offices,

Cert no. TT-COC-002370

visit www.cimaglobal.com/country