ACCA vs. CIMA (CGMA): Which is right for you?
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The accounting field offers several prestigious certifications that demonstrate expertise in public, financial, and management accounting. Although both are recognized globally, the Association of Chartered Certified Accountants (ACCA) and Chartered Global Management Accountant (CGMA) designations differ in important ways. Both are internationally accepted and prepare individuals to guide organizations’ financial direction and drive business success, but each designation has a distinct scope and focus. The CGMA is earned through the Chartered Institute of Management Accountants (CIMA) Professional Qualification, which is why the choice is often called ACCA vs. CIMA.
The ACCA is a broad-based professional accounting qualification that covers both public practice (audit, assurance, tax) and management accounting, while the CGMA is specifically focused on management accounting. The ACCA is more comprehensive, covering both financial accounting/public practice and management accounting; professionals looking to practice and have a strong focus in management accounting can potentially hold both the ACCA and CGMA. For those aspiring to strategic roles at the helm of large multinational companies, earning either certification can be an excellent investment, as both credentials are highly respected across industries.
ACCA vs. CIMA (CGMA): Major differences summarized
The key difference between the Association of Chartered Certified Accountants (ACCA) and the Chartered Global Management Accountant (CGMA) is that the ACCA serves as a pathway to obtaining the license to practice as a public accountant in some jurisdictions, while the CGMA is a designation, not a typical license, that signals expertise in management accounting. The ACCA has members and students in 179 countries and provides practicing rights, including audit signing authority, in several jurisdictions. The CGMA’s awarding bodies, AICPA & CIMA, serve members in 150 countries and territories, and the CGMA has strong U.S. recognition through the AICPA-CIMA joint venture, which is explained in more detail below.
What is management accounting?
Management accounting involves systematically collecting, analyzing, and interpreting both financial and non-financial information to support business leaders in making informed business decisions. This type of forward-looking financial analysis emphasizes future planning and decision-making, rather than solely recording historical transactions.
Demand for management accountants is high worldwide, with many businesses relying heavily on these strategic partners to weather financial storms and seize opportunities during periods of expansion. At virtually every major company, you’ll find a dedicated team of accounting professionals tasked with reporting, budgeting, and managing expenses, ensuring that businesses are making the most out of their current resources and the financial climate.
What is the ACCA certification?
The Association of Chartered Certified Accountants (ACCA) certification is a prestigious and internationally recognized accountancy qualification that enables professionals to excel in both public practice and management accounting roles. It’s a broad-based professional accounting qualification covering both public practice (audit, assurance, tax) and management accounting. As one of the leading global institutions, ACCA offers a wide range of certification programs and specialized diplomas, including degree routes with the University of London. This makes ACCA an attractive option for individuals seeking an adaptable career path in accounting. ACCA members can hold practicing certificates for public practice and, in countries such as the UK and Ireland, qualify as statutory auditors, in addition to being able to take on financial and management accounting roles. The CGMA isn’t built around audit.
Earning the full ACCA certification involves a comprehensive process that requires candidates to complete up to 13 challenging examinations split into three categories: Applied Knowledge, Applied Skills, and Strategic Professional. Note that ACCA is redesigning its qualification from 2027: June 2027 is the final sitting of the current Applied Skills and Strategic Professional exams, and the new structure has fewer exams. See what’s changing in 2027. Each ACCA exam covers fundamental areas of accounting, including management accounting, financial reporting, audit and assurance, taxation, financial management, performance management, key legal frameworks, and strategic business leadership. This well-rounded curriculum prepares ACCA-certified professionals with expertise that aligns with a broad spectrum of accounting and finance positions.
ACCA requirements
The ACCA offers three Applied Knowledge exams: Business and Technology (ACCA BT), Financial Accounting (ACCA FA), and Management Accounting (ACCA MA). These tests provide aspiring accounting professionals with a rigorous foundation. To achieve full ACCA certification, you must:
- Meet ACCA’s entry requirements, which usually include secondary-level qualifications in mathematics and English or enrollment in a bachelor’s or master’s program. If you don’t meet these requirements, you can start through ACCA’s Foundation-level/FIA route.
- Complete designated ACCA qualification levels and required exams (up to 9 of the 13 ACCA exams may be exempted for students holding relevant degrees or professional qualifications, though never the Strategic Professional exams).
- Accumulate 36 months of supervised experience in a relevant accounting or finance role and achieve nine performance objectives (together, ACCA’s Practical Experience Requirement, or PER).
- Successfully finish ACCA’s Ethics and Professional Skills Module (EPSM), ideally before the Strategic Professional exams.
The pathway to ACCA certification typically takes three to four years to complete. This globally recognized credential is widely used outside the U.S., equipping accountants with the expertise needed for international career opportunities. Qualifying significantly enhances your profile for global business, international finance, and cross-border accountancy positions.
ACCA jobs and salary
According to ZipRecruiter, the average salary for an ACCA in the U.S. is $68,326. Salaries for seasoned professionals are likely to be higher, and the cost of living is especially important to consider for ACCA-qualified professionals, given their international scope.
Common job titles for those holding the ACCA include:
- Management or Staff Accountant
- Public Accountant
- Financial Controller
- Finance Manager
- Auditor
- Tax Consultant
ACCAs can be found in the private sector, government agencies, and at the head of independent firms or consultancies. Over time, ACCAs can accrue enough experience to move into C-suite-level roles, such as Chief Financial Officer (CFO).
What is the CGMA certification?
The Chartered Global Management Accountant (CGMA) designation is a globally recognized certification for professionals specializing in management accounting, business leadership, and strategic decision-making. To earn the CGMA, candidates must complete up to 12 comprehensive exams that assess expertise in business accounting, operations management, and strategic planning. These exams cover three levels: Operational, Management, and Strategic. Candidates earn the CIMA Diploma in Management Accounting after the Operational level and the CIMA Advanced Diploma in Management Accounting after the Management level. Candidates without a degree in a relevant field may enter the certification process at the Certificate in Business Accounting (CBA) level, which consists of four entry-level exams.
Pursuing the CGMA opens doors to a wide range of careers in international and corporate finance. Professionals who already hold a U.S. Certified Public Accountant (CPA) or other accounting certifications often enjoy a streamlined process when obtaining the CGMA designation. U.S. CPAs can earn the CGMA designation by passing only one exam, the Strategic Case Study, as long as they are AICPA members with at least three years of relevant management accounting experience. The CGMA is particularly valued for its emphasis on global business acumen and leadership, providing a strong advantage for finance leaders seeking opportunities abroad. Among the recognized credentials for management accounting professionals in the U.S., the Certified Management Accountant (CMA) is well known, though a CPA/CGMA combo has a broader, more global reach.
The AICPA/CIMA joint designation
The CGMA, a highly respected credential in management accounting and global business leadership, is a joint designation administered in partnership by the Chartered Institute of Management Accountants (UK/global) and the American Institute of Certified Public Accountants (AICPA).
This strategic alliance offers an accelerated pathway for U.S. CPAs seeking to earn the CGMA designation. This collaboration enhances opportunities for finance professionals by streamlining access and strengthening expertise in strategic business management.
CGMA requirements
To earn the CGMA designation, candidates must meet several requirements demonstrating their expertise in management accounting and their commitment to professional standards. The CGMA pathway includes:
- Attaining membership with the AICPA or CIMA, or maintaining an active AICPA/CIMA membership in good standing.
- Accumulating at least three years of relevant, practical management accounting experience to satisfy the CGMA experience requirements.
- Completing each CGMA Professional exam level, which consists of three objective tests plus one case study assessment per level, OR
- Completing the CGMA Finance Leadership Program, an online route through the same three levels, and passing its case study exams (U.S. CPAs need only the Strategic Case Study).
- Adhering to the AICPA Bylaws and Code of Professional Conduct (AICPA members) or the CIMA Code of Ethics (CIMA members) to uphold the integrity of the CGMA credential.
Once you achieve the certification, you must keep up continuing professional development (CPD), called CPE by the AICPA, to maintain your status as a certified CGMA. How long it takes to qualify depends on your exemptions. On CIMA’s online Finance Leadership Program, most working professionals complete each of the three levels in about a year.
CGMA jobs and salary
Earning this designation unlocks a wide range of career opportunities, such as:
- Management accountant or staff accountant
- Traditional accountant
- Financial analyst
- Financial manager
- Risk manager
A strong foundation in accounting principles gained through the CGMA credential is valuable across many roles in financial services at top companies worldwide. Earning the designation prepares professionals for advanced responsibilities in corporate finance and management.
The average CGMA salary in the U.S. is $115,738, according to ZipRecruiter. This competitive salary reflects the demand for these professionals who are often employed by major multinational companies in specialized accounting and finance roles.
Finding the right fit for you
Both the ACCA and CGMA certifications offer distinct advantages and disadvantages regarding salary potential, professional recognition, and adaptability in the accounting field. For example, U.S. CPA holders can obtain the CGMA more easily, because the AICPA’s CPA pathway requires only the final Strategic Case Study exam. Accountants holding an ACCA credential who wish to work in the U.S. may often need to supplement their qualifications with additional certifications, depending on their desired employment location. To practice public accounting in the U.S., for example, you need a CPA license. Despite these differences, both pathways offer strong long-term job security and robust opportunities for career advancement, as management accounting remains a critical function for organizations of all sizes.
The bottom line:
The ACCA is a comprehensive, adaptable accounting certification that equips candidates for diverse roles across management and financial accounting. Candidates who want to further specialize in management accounting can consider adding the CGMA to their credentials.
- Important: As a fully qualified ACCA member, you can expect exemptions from the four Certificate in Business Accounting exams and from part of CIMA’s Professional Qualification, so you won’t start from the beginning. CIMA decides each case, so check your exact entry point with its exemptions calculator. Unlike U.S. CPAs, ACCA members still sit more than the final Strategic Case Study.
The CGMA is for those committed to a career in management accounting and are focused on maximizing their earning potential and upward mobility. To offer audit or other regulated public accounting services, you’ll need the right license for where you work: in the U.S., that’s the CPA, and elsewhere it may be an ACCA practicing certificate.
Whichever path you select, you’ll be earning a globally respected certification that enables you to work across international borders and thrive in accounting roles anywhere in the world.
Conclusion
In the dynamic landscape of accounting and finance, the demand for skilled financial professionals continues to grow. For those aiming to build international careers, both ACCA certification and CGMA jobs offer pathways to rewarding roles at leading multinational organizations. The CGMA designation is a strong choice for professionals pursuing direct advancement into managerial roles. ACCA certification is ideal for those seeking flexibility to practice accounting across diverse sectors worldwide.
When deciding between ACCA vs. CGMA, or both, it’s important to plan ample time for exam preparation, fulfill work experience requirements, and ensure you have the necessary resources to invest in these respected certifications. The global opportunities unlocked by either qualification can make the investment in your professional future worthwhile.
