New Zealand - ACCA or CIMA

Old Dec 29th 2009, 11:47 am
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Default New Zealand - ACCA or CIMA

Hi there, wondered if anyone may be able to help. I'm currently living in the UK and are AAT qualified, I now want to go on to study further but want to make the right choice in qualification. My partner is from New Zealand and at some point we will be living there I want to know which of the UK qualifications will make my life easier when I get to New Zealand. From a job point of view is either anymore recognised than the other in the New Zealand and if I want to convert my UK qualification to NZ which is easier to convert. I have emailed NZICA bit i am still a bit confused. My choice is between ACCA and CIMA. I understand that to convert ACCA I would need to do the following papers, NZ tax, NZ law, Statistics, economics, five liberal papers. Or are they just courses and not papers? With CIMA I would need to get my qualification assesed, has anyone been through this, did you have to do further study? I have quite a tight deadline as I have to register with ACCA by 31 Dec if I want to go ahead with that, any help would be fantastic. Thanks Claire
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Old Dec 30th 2009, 12:11 am
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Default Re: New Zealand - ACCA or CIMA

Is there any option to train as a Chartered Accountant? That would be better than either ACCA or CIMA as it would give direct entry to NZICA (as a CA) - neither ACCA nor CIMA do that.

Leaving that aside, CIMA would probably be a better option as you could at least become an Australian CPA by mutual recognition, which is probably better understood in NZ.

Also depends on where you want to work, practice or industry? Also, long term, you should plan to get a university degree as part of your studies or afterwards ... ACCA offer one as part of the training (you would need to check if you are eligible if coming off AAT).

Also - your AAT qualification is recognised in New Zealand:
http://www.nzica.com/AM/Template.cfm...Overseas_Study
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Old Dec 30th 2009, 9:22 am
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Default Re: New Zealand - ACCA or CIMA

Originally Posted by JAJ
Is there any option to train as a Chartered Accountant? That would be better than either ACCA or CIMA as it would give direct entry to NZICA (as a CA) - neither ACCA nor CIMA do that.

Leaving that aside, CIMA would probably be a better option as you could at least become an Australian CPA by mutual recognition, which is probably better understood in NZ.

Also depends on where you want to work, practice or industry? Also, long term, you should plan to get a university degree as part of your studies or afterwards ... ACCA offer one as part of the training (you would need to check if you are eligible if coming off AAT).

Also - your AAT qualification is recognised in New Zealand:
http://www.nzica.com/AM/Template.cfm...Overseas_Study
JAJ - I am sure that both ACCA and CIMA are chartered, hence the C's. Do you mean is there any opportunity to train as ICAEW?

To OP, I think CIMA would be better of the two as if you are not working in practice it would be almost impossibe to train as ICAEW.
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Old Dec 30th 2009, 8:55 pm
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Default Re: New Zealand - ACCA or CIMA

Hi, thank you both for your responses. In answer to your questions:

As a general rule in England you can only qualify as what we call a Chartered Accountant (ICAEW) if you train within an accountancy practice, unfortunately I do not. Going forward I would imagine I would continue to work within industry/commerce.

Interesting to know about the Australian CPA by mutual recognition for CIMA as hadn't thought about that, if this is better known in NZ this is definitely worth a thought. Would I need a degree also for this?

Yes I would plan to get a university degree as I understand this is expected of accountants outside the UK.

Originally I was swaying more towards ACCA as the NZICA website gives more exact guidelines of converting the qualification whereas CIMA has to be assessed so I presumed this was less well know?

To become NZICA qualified would I need to do training/work within an accountancy practice for a period of time once in NZ?

To have a decent career within NZ would it be advisable to be NZICA qualified rather say Aus CPA on the basis that I would probably still want to work within industry/commerce?

Many thanks for your help.
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Old Dec 31st 2009, 8:13 am
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Default Re: New Zealand - ACCA or CIMA

If you look at NZICA rules, you'll see that if you're ACCA qualified you have to do the following:

- some extra non-accounting related courses (exam based)
- NZ tax and law (exam based)
- the full Professional Competence program (exam based)
- 2 years mentored experience.

In other words, a lot of time and effort. It's probably similar for those who are CIMA qualified. So if you see your future in NZ, it may not be worthwhile to do a lot of work for qualifications that aren't recognised very much in NZ.

If you are AAT qualified, then as already mentioned, you can join NZICA in the College of Accounting Technicians and then work to upgrade towards the requirements to join the CA college.

If you really want to get a UK qualification and ACA isn't an option, then CIMA is probably a better option than ACCA, if bound for NZ. However, you might be better served to get yourself a university degree for now. One good option would be the University of London External:
http://www.londonexternal.ac.uk/pros...uate/index.php

It is possible, although not all that common, to do ICAEW outside public practice. In New Zealand, as far as I am aware (you could ask NZICA for a list of approved employers), it is fairly normal to train as a CA in industry. That is also the case in Australia.

The ACA qualification from ICAEW (or ICAI, or Scottish CA), transfers very easily to New Zealand.

Last edited by JAJ; Dec 31st 2009 at 9:16 am.
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Old Dec 27th 2010, 4:56 pm
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Default Re: New Zealand - ACCA or CIMA

Well, I will steal this thread because this was my first dilemma, but now I have another one. I cleared this one out already

First of all, I am reading this forum for some time now, and I found plenty useful informations and thoughts. I am a non-EU non-UK resident aiming to move to NZ some day. Having lots of doubts in my mind, I was hoping to clear one very important one out.

- University degree (Master of economics 300ECTS) from non-EU european country
- 3y of experience in Finance/Accounting sector

My goal is to get away from pure reporting and paperwork and be more involved in decision making and management in general (as these are my aspirations). However, I didn't have an opporunity to move (or find) to another employment more related to this. My goal is to be more involved into finance (corporate) and financial decision making. I have been in contact with auditors, and seen their line of work => not interested at all.

I was planning to enter CIMA course, but I cannot see it is much respected i.e. recognized in NZ. When my personal situation is concerned, sure, this course is more Management Accounting and industry related, but is it really that difficult to be accepted in New Zealand? Currently I cannot find plenty encouraging informations relating to this...

Also, considering to enter CFqualification through ICAEW instead of CIMA, but what good would that do in NZ???? Reciprocal agreemtn between NZICA and ICAEW is based only on ACA qualification....which takes me to my third option => trying to maybe enter ACA (but I'm not so sure if it will suit my aspirations).

I somehow don't like the fact that CIMA is money oriented, and they don't run away from this claims and don't refute them.

what do you think...

What chances would I have in NZ with CIMA, CF?

P.S. I'm sorry for entering as a non-British, but you people are so well-informed I just have to see what you think. After all, I do plan to enter one of your courses.
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Old Dec 27th 2010, 7:45 pm
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Default Re: New Zealand - ACCA or CIMA

Not all accountants work in pure reporting and paperwork, in fact in my 18+ years of experience, not that many do. Becoming an ACA / ICAEW would not mean you can only do paperwork and pure reporting.

This is the more prestigious qualification and so if you have a choice, I recommend you do this one.

I have no idea what you mean by CIMA is money orientated and do not know what your problem is, I have never heard this complaint before.

Personally though, and I speak as somebody who has just moved to Australia, I think experience is far more important, foucs on getting the best experience you can and ideally in multinationals. If NZ-ers are like Australians they are not going to get hung up on which UK qualification you have. In the UK we accept that Australians have Australian qualifications and they apply the same common sense.
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Old Dec 27th 2010, 10:48 pm
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Default Re: New Zealand - ACCA or CIMA

Originally Posted by Bermudashorts
I have no idea what you mean by CIMA is money orientated
It's based on some of my impressions from correspondence with them i.e. that they potentially put money over standards at first. Of course, it's my first impression and I have every respect to this and any other qualification. This doesn't have to mean anything, of course.

My concern is regarded to possible emyploment opportunities in the future, depending on chosen qualification. I understand ACA is more prestigious qualification, but I am not sure whether it helps me getting to (let's say) Corporate Finance/ Financial Maagement, where I tend to be...

I understand not all accountants are involved into pure paperwork, but it currently makes my employment boring, and I didn't manage to be involved into decision making, no matter the fact I deal with Finances, as well as accounting.
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Old Dec 27th 2010, 11:18 pm
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Default Re: New Zealand - ACCA or CIMA

Originally Posted by llkon
My concern is regarded to possible emyploment opportunities in the future, depending on chosen qualification. I understand ACA is more prestigious qualification, but I am not sure whether it helps me getting to (let's say) Corporate Finance/ Financial Maagement, where I tend to be...

I understand not all accountants are involved into pure paperwork, but it currently makes my employment boring, and I didn't manage to be involved into decision making, no matter the fact I deal with Finances, as well as accounting.
I think you are still inexperienced and are perceiving too strong a link between what qualification you do and what type of work you do now or in the future. You are completely under-estimating the flexibility in the profession in general.

I have experience in financial accounting, management accounting, financial controlling, financial planning and analysis, internal controls, internal audit, treasury and capital management, corporate finance. The set of exams I sat 16 years ago really has had very little bearing on the career path since. You are over analysing this. If you can do ACA then do it as it will look better on your CV as you start out. If you can't do ACA then do something else, it's not the end of the world.

And the fact that you find your current work boring has really nothing to do with the qualification. I am sure some ACAs find their work boring and some do not. If you think your work is boring and doesn't allow you to be involved in decision making then the answer is to find another job, because the exams you take won't change that.
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Old Dec 28th 2010, 5:30 am
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Default Re: New Zealand - ACCA or CIMA

Hey Bermudashorts, I agree with your comment from top to bottom, that's why I'm here, to see what experienced people i.e. the ones who maybe had the same dilemma as me, think about it.

I would like to hear what has changed in the last decade or last few years when qualification assessment is concerned, as professional qualifications are subject to change in recruiter's eye when companies employ new people. Of course, your qualification or potential qualification cannot guarantee your excellence in business, but it sure predetermine the area and the sector you find yourself in.

Considering my boreness, I would define it as an impossibility to act creatively. To young professionals as myself, it kinda puts a rope around the hands, which is a great minus.
Finding another job, I agree, no success so far...labour market's situation is another discussion, though.
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Old Jan 19th 2011, 7:33 pm
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Default Re: New Zealand - ACCA or CIMA

I have both CIMA and AAT and have not found any problem obtaining work with these qualifications nor has either of my employers insisted I convert that is up to me. i work as a director of Finance for a large Faculty at Auckland university prior to that a DHB in Wellington. I also had staff study CIMA here. CIMa has a strong professional/social group here and employment agencies certainly reconise the quals the one they would have trouble with is CIPFA, ACCA is also not as recognised I have found!
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Old Jan 19th 2011, 8:45 pm
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Default Re: New Zealand - ACCA or CIMA

Originally Posted by janeyk
I have both CIMA and AAT and have not found any problem obtaining work with these qualifications nor has either of my employers insisted I convert that is up to me. i work as a director of Finance for a large Faculty at Auckland university prior to that a DHB in Wellington. I also had staff study CIMA here. CIMa has a strong professional/social group here and employment agencies certainly reconise the quals the one they would have trouble with is CIPFA, ACCA is also not as recognised I have found!
I am ACCA and did not have the slightest problem with anyone I spoke to in advance of moving to Australia. Sensible employers apply common sense and will look at work experience not a set of exams taken a long time ago in the case of some.
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Old Jan 20th 2011, 6:04 pm
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Default Re: New Zealand - ACCA or CIMA

ACCA in NZ is not common was the point I was making but agree its work experience over quals that matter
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Old May 11th 2011, 9:12 pm
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Default Re: New Zealand - ACCA or CIMA

Hi There,

I am planning to move to Auckalnd next year and wondered what opportunities there are for CIMA qualified accountants there and across New Zealand?

Many Thanks, Jack.
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Old May 11th 2011, 9:44 pm
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Default Re: New Zealand - ACCA or CIMA

Originally Posted by seasidejack
Hi There,

I am planning to move to Auckalnd next year and wondered what opportunities there are for CIMA qualified accountants there and across New Zealand?

Many Thanks, Jack.
Are you very newly qualified?

If not then don't pigeon hole yourself "CIMA qualified accountant". You are an accountant, look on the accountant job sites, e.g. michael page to get an idea of jobs out there.

If you are newly qualified, then there could be more interest in the qualification.
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