Career Guidance Reqd

[Salman_2003]

Assalam-o-alikum,

I have recently completed my bachelors in Mechanical Engineering. Now I want to pursue my studies in Accountancy.

As, we engineers, are usually employed in industries; So someone told me to go with CIMA as their accountants are also employed in industries (making a good combo). What you people think, is it better for me to go with management accountancy(CIMA) rather than chartered accounts(ACCA or ICEAW)?

Secondly, what actually is the difference between chartered and management/cost accountancy?

Thirdly, what is the best institute in Karachi for tution of ACCA and CIMA?


An early reply to my queries is highly appreciable.

Regards,
Salman.

[Salman_2003]

Anyone else?
Seniors help me urgently.

[Salman_2003]

It seems that no one is active on this forum.

[S.A.Shamsi]

Walaikum Assalam,

Dear Salman its up to you what you decide.Chartered Accountants (ACCA,ICAEW or ICAP) specializes in Financial Accounting,Audit & Tax, whereas Management Accountants (CIMA or ICMAP) specializes in Management and cost related matters.

CIMA is more industry focus whereas ACCA or ICEAW give you more flexibility as you can join industry (as Accountant) or can work independently as an auditor in an audit firm.

NCA ,Alhamd & tabani are good institutes for ACCA, but I think its better to go teacher wise (i.e. take tuition from good teachers subject wise rather than going in single institute for all subjects)
As for CIMA, AlHamd is the oldest one conducting separate classes for CIMA.Now others like CAMS,Commecs & CMS have also started classes.CAMS is a good Institute.

Hope you find it Helpful.

Best Regards,
S.A.Shamsi.

[Dard]

CIMA specialises in Management accounting whereas accountancy qualifications are more general; You have to study all the topics(including management accounting, but not as advance as CIMA or ICMAP) and at the end of an accountancy qualification, you decide which specialised field you choose