What is the difference between CPA and CIMA?

Some people can become confused with the differences between CPA and CIMA. CPA stands for Certified Public Accountant. CIMA stands for Chartered Institute for Management Accountants. Those who are given the title as CPA are those that have managed to pass the examinations to become an actual accountant. Take note that while both of these titles are considered to be prestigious, they are both suited for different purposes.

When you get a CPA title, this means that you can work as an accountant. When you get a CIMA, this means that you are better suited to work in the industry setting. People will not get these titles unless they get the necessary tests.

CPA stands for Certified Public Accountant and is the name for accountants in many countries of the English persuasion. CIMA is the anacronym for Chartered institute of management accountants, and it is a UK professional based group that offers training and qualification in matters of management accounting. There are some requirements for being a chartered accountant in the UK. A candidate has to pass all of their exams of CIMA and finish three years of practice of management accounting.

CPA is a title that is granted upon an individual who has passed the examinations given by UCPAE and is considered qualified to practice in the United States. It is required to be certified in the state you are practicing. CPA's have a lot of professional freedom. They can start their practice, or they may be working with several organizations. With CIMA's, this certification does not offer the individual any legally binding benefits. However, it is a mark of achievement.