CHARTERED OR MANAGEMENT - WHICH ONE TO CHOOSE?

[@ishmamwains3259]

I really like this video style, it was really informative, and easy to understand!

[@FehzanMehdi]

Thank you for the feedback

[@mohammeda6719]

‏وعليكم السلام ورحمة الله وبركاته May Allah bless you, nice to see a proud & openly Muslim on social media, who has expertise and sharing his knowledge. Your points are very sound but I think I’ll stick to CIMA because I’m so close to completing it, thanks to the exemptions.

[@FehzanMehdi]

Wa alaykum as Salam absolutely fine CiMA is a great qualification

[@tanvirulchowdhury8409]

Great video. Agreed, chartered opens many more doors in the long run.

[@FehzanMehdi]

Thanks for the feedback!

[@Joshuafag9]

Very insightful video. However, your submission seems to suggest that CIMA qualified accountants are not Chartered. That’s erroneous! CIMA qualified accountants are Chartered Management Accountant. Also, CIMA consists of 16 exams NOT 12. Thus, ACCA, CIMA and ACA are ALL CHARTERED ACCOUNTANCY qualifications!!!!!!!

[@FehzanMehdi]

Thanks for the feedback glad you enjoyed it!! So no one that I’ve met in the past ten years has referred to CIMA accountants as chartered accountants always referred to them as management accountants. However, you may be technically right! I know there’d be a few confused faces if CIMA called themselves chartered instead of management accountants. Secondly yes 16 exams if you include the Certificate stage but quite a few grads with relevant degrees will be exempt and I deliberately left off certificate and ACCA foundation. I’m looking to release videos on ACCA and CIMA from start to finish soon, so hopefully that will help clarify!

[@Verrads]

@@FehzanMehdi I’m afraid I agree with the gentleman above. CIMA is for sure a chartered accountant qualification. It simply focusses on Management accounting but still covers a breadth of business & financial accounting subjects. I think this video is slightly confusing chartered with financial accounting. ACCA/ ACA/CA focusses stronger on financial accounting as it’s very much practice focussed. When you qualify for Cima you qualify as ACMA (Associate Chartered Management Accountant) - meaning chartered accountant . If we want to be picky and forget parts of our designations then really only 1 qualification can call themselves a “Chartered Accountant” (ICAS) which holds the CA designation. Where as ACCA - “Associate Chartered Certified Accountant” On job prospects, I would argue it balances itself out, you for sure aren’t at all discouraged from working in the big 4 as business consultants with the Cima qualification & additionally the added focus on business add a whole plethora of different roles you can fill in the Business Analyst, Business advisor kind or roles (not including all the management/ Strategic roles you already mentioned that Cima specifically prepares you for!) If your hope is to only work in practice, audit, assurance. For sure the only options are ACA/ACCA/CA but if you haven’t started in practice in the first place you are at just as an disadvantage as the CIMA qualified to break into practice from a long industry career. It really boils down to what kind of career you want, it’s not so cut & dry, & I would recommend anyone who’s employers is offering study support for any of ACA/ACCA/CA/CIMA/CIPFA qualifications to take them!! They all will significantly enhance your career!

[@FehzanMehdi]

@@Verrads Thanks I disagree with one or two points but you're 100% right CIMA is still a good qualification to pursue. CIPFA - if you do any firms offering that as part of a grad / apprenticeship I'd be very interested to know - never come across a scheme offering that

[@Verrads]

@@FehzanMehdi I was only recently aware of CIPFA when I moved from Industry to public sector. I would imagine it would be the qualification of choice for those in apprenticeships & grad jobs with the National Audit office in England & Audit Scotland which are the audit bodies for all public sector orgs such as councils, nhs, govt, non-departmental bodies ect. Government/Public sector funded orgs tend to have their own bodies that they use rather than the big 4.

[@mamamaaaaapppaarrrssss]

Exactly CIMA qualified accountant is a Chartered Accountant!!

[@DreamFirms]

Great video! You made it more easier to understand!

[@FehzanMehdi]

Thank you

[@mamamaaaaapppaarrrssss]

Okay so Charted vs Management isn't the best title for the video-you can still be a chartered accountant by doing CIMA you're just called a Chartered Management Accountant which is equivalent to the level of education as ACCA. Employers in industry really like the CIMA qualification. If you know you want to be in industry then CIMA is an easier way of becoming a qualified accountant-being able to take exams whenever you want without the three month minimum between exams that ACCA has the restriction of.

[@FehzanMehdi]

Agreed although my reference to chartered v management is what the norm reference is when it comes up in discussions. Similarly people don’t typically refer to ACCA as chartered certified you’re either referred to as chartered / management. CiMA is definitely a good option for those in industry just not as relevant if you want to open your own practice.

[@mamamaaaaapppaarrrssss]

@@FehzanMehdi I agree with your point as to wanting to work in practice. I know you definitely can't work in tax if you've only done CIMA. I'd say if you're wanting to go into practice opt with ACCA or ACA

[@karenaWarner144]

This video is very clear and helpful. Thank you

[@FehzanMehdi]

Thanks for your kind words

[@_eMandleni]

Purely informative or selling clip...perhaps that's what I could be missing

[@FehzanMehdi]

Haha it’s just my opinion from my own experiences…I doubt students are going to switch from CiMA to ACA or anything else based on this video. CiMA still has the largest student base

[@_eMandleni]

Absolutely. I respect your personal experience but I just find it a tard spoiling for such a seemingly well researched video to reiterate that one is better than the other because that's definitely not true.

[@FehzanMehdi]

I’ll try keep my own opinion out of it next time!

[@allanmatthewson4328]

CIMA is a Chartered Body, as is ACCA and ACA, There is no such thing as Chartered Accountancy, It is the professional body that is Chartered

[@FehzanMehdi]

You’re right, when I was training we just referred to it as chartered accounting to management accounting

[@haseeb_lds788]

What is the extra qualification that you mentioned? CTA I think you said, what is it?

[@FehzanMehdi]

There are a few you could study after qualifying as a chartered accountant: CFA (Financial Analyst), CTA (Tax); or even AMCT (Treasury)

[@reissemiller104]

Hi Fehzan, really like your videos. Have been binge watching all of them for past week as I'm researching for a possible career in Accounting. Is there a difference between ACA & ACCA? Is one better than the other or once you are qualified as an ACA/ACCA accountant, is there a lot of difference in terms of job prospects, salary, etc? Thanks

[@FehzanMehdi]

Thanks for the kind words! I wouldn’t say that there is much of a difference both are highly respected. I would say ACA is held in a slightly higher regard in the U.K. as it’s seen as a “tougher” qualification. On the other hand, ACCA is recognised more internationally! But I wouldn’t look into that too much! There isn’t any significant difference in terms of salary or job prospects! Another trick is look at job listings for qualified accountants you can use LinkedIn search. Most will say ACA/ACCA or equivalent so not much of a difference.

[@l.p3826]

@@FehzanMehdi In terms of working for the Big Four in the future. Would it be better to obtain the ACA or the ACCA?

[@abumusa_ch]

GREAT VIDEOO

[@NeilCWCampbell]

I wanted to be chartered but this professional highly discriminatory 😢

[@FehzanMehdi]

Sorry to hear about the bad experience

[@business6938]

For someone who has an interest in both accounting and finance ( investment management, trading) but unsure which area they want to specialise in, how beneficial is an ACCA? Does it touch on any areas regarding stocks and shares and other financial instruments? I’ve looked at the syllabus and doesn’t go into that much detail about the course.

[@FehzanMehdi]

Not so much stocks and shares - there will be an element on financial valuations and business modelling but if you’re looking for something specifically to do with trading ACCA in my opinion isn’t suitable.

[@business6938]

Thanks for your feedback. From the looks of it, an accounting qualification looks suitable for corporate finance related roles. The ACCA seems to have a balance of both management and financial accounting for someone who has yet to decide which area they want to specialise in.

[@saverasavera3652]

Whats the difference between chartered management and project management?

[@FehzanMehdi]

Completely different careers project management sits outside of finance - chartered management is within finance

[@_eMandleni]

ummmm great video but i have reservations in some of your comparisons which seem to downplay management accountant. Its really not about CA is better that CIMA! Thats misleading

[@FehzanMehdi]

The only reason I’m a bigger fan of CA is because it can open up more options for you. CIMA is still a great qualification.

[@shuush1335]

Very helpful video thanks

[@FehzanMehdi]

Thank you for the feedback

[@abdallahbonne]

thank you for the insight

[@FehzanMehdi]

Glad you enjoyed it

[@abdallahbonne]

@@FehzanMehdi always nice to have some guidance along the way, i’m in first year university just starting out but because of your videos it has made me understand the realities of accounting and many more so thank you 👍🏼

[@mahbubulislammamun2729]

Zajak-Allahu Kairan! It's very informative video. I'm wondering in reality is it possible to have multiple qualifications like ACCA & CIMA?

[@FehzanMehdi]

Wa iyaak it’s possible but not much point as both are respected qualifications having two will not add much value

[@auntiejamilla]

Masha allah

[@zamirkhan1148]

A/s...Thank you, Sir...For such a wonderful speech regarding ACA, ACCA or CIMA aspirants ...Great guidelines by Great simplicity I am getting from you through this channel of the best expert 😍 Sir, kindly do me a favour...I am Zamir khan from India 🇮🇳 And I am B.com graduated since last 2018. By profession experiencing an Accountant job And I am eagerly want to do this ACA qualification but I didn't get the best mentor for ACA in India...In India, There is only ACCA crazy but I need to do ACA qualification. So, will you please guide me for this ACA qualification😍

[@FehzanMehdi]

Wa alaykum as salam it's better to message me on Instagram so I can discuss if it's possible to provide advice and guidance given you are in a different country.

[@gingerchu69]

Why are you saying Chartered or Management Accountancy as if you cannot be Chartered in Management Accounting? CIMA literally stands for Chartered Institute of Management Accountants...

[@FehzanMehdi]

They are both different - typically cima qualified accountants can’t open up their own practice due to less exposure to audit and tax. Important to call that difference out.

[@asthachhajed323]

If in future i want to build my own company so ACCA or CIMA which would be the best fit?

[@FehzanMehdi]

I would say ACCA as you can open your own practice - CiMA is more suitable for working in Industry

[@aldrickwa6895]

@@FehzanMehdi A company he said. It is not necessarily an accounting firm. To operate a company in an industry, for sure cima is the best qualification I think as it trains on business strategy.

[@robroddy4071]

i would agree for a company CIMA or ACCA would help, however CIMA members who may be already AAT are able to start their own accountancy practice through the AAT licensed practice.

[@archiesutherland6127]

so does management help more if you want to eventually get CFO in a certain company?

[@FehzanMehdi]

Not necessarily it’s just the most common qualification in industry. A lot of ftse 100 senior finance execs have the ACA

[@wren6624]

Thank you for the informative video :) Would you be able to get exemptions with a degree-level apprenticeship in accounting or finance?

[@FehzanMehdi]

Bit confused if you did a degree level apprenticeship then they would normally train you in the ACA or ACCA anyway? As an example I know Kpmg have a programme where you get a degree and the ACA

[@wren6624]

@@FehzanMehdi Okay, i think i was a bit misinformed then - so would it be realistic to: Go onto a school leaver program after my a-levels (currently in year 12) where i can get my level 3 aat qualification, then go on to do level 4-7 as an apprenticeship with another firm? Sorry if i’m missing something obvious or asking something dumb, i’ve only recently started researching this

[@FehzanMehdi]

No don’t worry about it good to get clarity. So if you’ve got 5 gcses with pass grades in maths and English and get about 120 ucas points from top 3 a levels you’ll most likely be eligible for many school leaver programmes. Most will train you directly in the ACA or another accountancy qualification and you’ll be qualified in about 5 years. The aat level 3 is another option but if you’ve got the grades you can apply directly for these school leaver programmes with big firms.

[@wren6624]

@@FehzanMehdi okay great thank you for the advice, so just to clarify if i was looking to get a degree/degree level apprenticeship, i could stay on at the leaver program and get the qualification somehow from there,

[@FehzanMehdi]

Yh for more info research on the big 4 / top 10 firms websites they’ll have further information on the routes and qualifications they offer

[@shariq7127]

Sir can you please guide me which one have more scope in future BBA in marketing or any other or BS account and finance then after completing this degree acca provide me 9 exemptions then i have to give only 4 to 5 papers so which one is good and after this both degree which i persue definitely i will go for MBA please guide me

[@FehzanMehdi]

It really depends on you and want you want to pursue you can still study Marketing and then do the ACCA exams. However you won’t be eligible for exemptions. I would say study something you will enjoy who knows if you study marketing you may wish to pursue a career in marketing instead.

[@anabalraj410]

You are so right. I learnt this the hard way. In my country CIMA has no recognition and CIMA students and members don’t get much opportunities.

[@FehzanMehdi]

Not fair! CIMA is still a well respected qualification in the U.K.

[@zfarkhan7598]

Sir, please reply me, how I will be able to find job after qualifying chartered accountany, I saw every industry they all hired experienced people, how one can get job as fresher after qualifying acca.

[@FehzanMehdi]

Are you applying for jobs in the U.K.?

[@zfarkhan7598]

No, sir I mean anywhere. I am asking, will I find job easily after qualifying acca.

[@FehzanMehdi]

Thanks I can’t comment on other countries as I’ve never worked there. However, in my own personal experience since I became chartered I’ve never been out of work or found it difficult to secure a job.

[@zfarkhan7598]

@@FehzanMehdi sir what about job in UK.

[@fellaboukert986]

Salaam sir, I would like to start a career in accountancy ( UK) , however, I don't know where to start, what qualification to take. , I have an algerian baccalaureate which is equivalent to A level, and I studied chemistry for 2 years in the university of algeria, then I came to the UK, Please could you tell me what is the best option to become a charterd accountant, is it: ICAEW fast track, or ICAEW CFAB, or ICAEW apprenticeship, Thank you

[@FehzanMehdi]

Wa alaykum as salam, firstly you need to check the equivalent A-level grades for your baccalaureate. I would recommend visiting the UCAS website to check this. Once you know the A-level grades equivalent you could apply to school leaver programmes which will most likely train you in the ACA qualification. You can also check if you can transfer on to a 3rd year of a degree programme in the UK as you already have spent 2 years studying Chemistry. Even though it's not related, you can still become a chartered accountant with a degree in Chemistry. The added bonus of a degree is you can open up opportunities in other sectors as well! If you can't transfer the two years you've already done to a university here, I would recommend the AAT-ACA fast track route if you want to pursue the ICAEW qualification.

[@fellaboukert986]

Thank you for your reply, If I will do the aat, aca fast track, Can I start with the level 3 or 4 AAT? And I would like to ask you if the ICAEW CFAB is a fast route compare to AAT aca fast truck

[@FehzanMehdi]

@@fellaboukert986 I would start with the Level 3 that's where I started with A-levels. I know people who started at Level 4 and found the transition was extremely difficult! If you took the ICAEW CFAB (which is the first six exams of the ACA) you would qualify quicker imo, however again I don't think it would be an easy transition! You may be in a junior accounts role and the AAT would be more appropriate than going straight into the ICAEW!

[@mahinkjohn8963]

Sir can I get a job in UK with CMA(US) certification? What is its scope and demand in UK? Kindly reply 🙏

[@FehzanMehdi]

It depends on if this is a qualification equivalent to the ACA, ACCA etc. There isn't any demand for the CMA qualification as most job advertisements will say ACA / ACCA equivalent etc. I'd advise you firstly check if your qualification is equivalent to ACA. If so, then you should be fine when applying for jobs here. Secondly, ensure you have right to work in the UK, as employers are unlikely to sponsor a visa.

[@mahinkjohn8963]

@@FehzanMehdi ok sir. Thank you 😇. Also I have a doubt whether Indian CA have demand in UK?

[@aslihassan1053]

great vidow

[@FehzanMehdi]

Thanks

[@ab1hunna61]

Salaam bro, what tips would you give an a level student aiming to get into one of the top firms?

[@ab1hunna61]

Through a sxhool leaver programme

[@FehzanMehdi]

Wa alaykum as salam so firstly I would recommend watching my video on the school leaver route to becoming a qualified accountant. That will give you some useful tips and links to websites where you can see typical schemes and check their entry requirements. Secondly when applying for programmes practice the online assessments before you do the real thing. There are websites such as SHL and assessment day. Lots of people fail at this stage as they haven't prepared much. Also, research the schemes I give some tips in my Interview process video so check that out. Finally smash your A-level grades honestly that will help! I had an offer and didn't get the grades so was forced into a gap year, learn from my mistakes!