By Caroline Furness, published 1 October 2026
If you're considering a career in accounting, you've probably come across three letters again and again: ACCA, CIMA and ACA.
But what do they actually mean? What is an ACCA? What does a management accountant do? And, perhaps most importantly, what qualifications do you need to be an accountant?
Choosing an accounting qualification is an important decision, but there isn't one route that suits everyone. Your preferred career path, the type of organisation you want to work for and the areas of finance that interest you can all influence which qualification you choose.
In this guide, Sheridan Maine explores the differences between ACCA, CIMA and ACA, and what each route could mean for your accounting career.
What is an ACCA?
ACCA stands for the Association of Chartered Certified Accountants.
The ACCA Qualification is a professional accounting qualification covering areas including financial accounting, management accounting, taxation, audit, financial management, business law and strategic skills.
To complete the current ACCA Qualification, students progress through examinations, an Ethics and Professional Skills module and a practical experience requirement. ACCA states that students need at least 36 months of relevant professional experience to qualify.
One of the attractions of ACCA is its breadth. It can support careers across different areas of accounting and finance and is designed to provide flexibility for people entering the profession through different routes.
ACCA also offers different starting points depending on your existing qualifications and experience, including routes for school leavers, graduates and people already working in finance.
What jobs can ACCA lead to?
An ACCA qualification can be relevant to a wide range of accounting and finance careers, including:
- Financial Accountant
- Management Accountant
- Finance Manager
- Financial Controller
- Audit roles
- Tax roles
- Finance Business Partner
- Senior Finance Manager
- Finance Director
The route you take after qualifying will depend on your experience, interests and the organisation you work for.
What is CIMA?
CIMA stands for the Chartered Institute of Management Accountants.
CIMA is particularly focused on management accounting, business performance and strategic decision-making. Its professional qualification leads towards the CGMA designation, with the qualification structured around Operational, Management and Strategic levels.
So, what is a management accountant?
Rather than focusing primarily on reporting what has already happened, management accountants often use financial and business information to help organisations understand performance, plan ahead and make decisions.
This can involve areas such as:
- Budgeting and forecasting
- Business planning
- Financial analysis
- Performance management
- Cost management
- Commercial decision-making
- Supporting business strategy
If you enjoy looking beyond the numbers and understanding why something is happening and what a business should do next, management accounting may be an area worth exploring.
CIMA's qualification is therefore particularly relevant to people interested in commercial and strategic finance roles.
What is the ACA?
ACA stands for the Associate Chartered Accountant qualification from ICAEW.
The ACA is a structured route to becoming an ICAEW Chartered Accountant, combining technical learning with practical experience and professional skills.
For many people, the ACA is associated with training within an accountancy practice, although there are routes into the qualification across different types of organisations.
The current ACA includes exams across Certificate, Professional and Advanced levels, alongside professional experience and specialised learning. ICAEW states that students must complete a minimum of 450 days of professional experience with an authorised training employer.
ACA training can provide a strong foundation for careers in areas such as:
- Audit
- Accounts
- Tax
- Financial reporting
- Corporate finance
- Advisory
- Financial management
- Senior leadership
ACCA vs CIMA vs ACA: What's the difference?
While all three can lead to a successful career in accounting and finance, they have different characteristics.
| Qualification | Broad focus | Often suited to careers in |
|---|---|---|
| ACCA | Broad accountancy and finance | Accounting, audit, tax, financial management and senior finance |
| CIMA/CGMA | Management accounting and commercial finance | Management accounting, FP&A, commercial finance and business partnering |
| ACA | Chartered accountancy | Practice, audit, accounts, tax, advisory and senior finance |
This isn't a strict division. Accounting careers can overlap significantly, and your eventual career is influenced by your experience as well as the qualification you choose.
Which accounting qualification should you choose?
Rather than asking which qualification is best, it can be more useful to ask which qualification fits the career you want to build.
You might consider ACCA if...
You want a broad accounting qualification and like the idea of keeping your career options open across areas such as accounting, audit, tax and financial management.
ACCA can also be an attractive option if you value flexibility in how and where you study.
You might consider CIMA if...
You're particularly interested in management accounting, commercial finance and business strategy.
If the idea of analysing business performance, working with budgets and forecasts and helping senior teams make decisions appeals to you, management accounting could be a good area to explore.
You might consider ACA if...
You're interested in becoming an ICAEW Chartered Accountant and want a structured training route combining professional study with practical experience.
ACA training can be particularly relevant if you're considering a career in practice, audit, accounts or advisory, although qualified accountants can go on to work across many areas of finance.
How do I get into accounting?
One of the biggest misconceptions about accounting is that there is only one way into the profession.
There isn't.
Depending on your circumstances, you could enter accounting through:
- An apprenticeship
- A university degree followed by professional training
- An entry-level finance or accounts role
- AAT or another foundation qualification
- A graduate training programme
- An employer-supported professional qualification
- Progression from an existing finance role
For example, ICAEW offers several routes into the ACA, including apprenticeships, university routes, AAT-ACA Fast Track and training agreements with authorised employers.
ACCA also offers different starting points, including apprenticeships, graduate routes and foundation-level qualifications for people with little or no formal accounting experience.
The right starting point depends on your existing qualifications, experience and the type of accounting career you want to pursue.
What qualifications do I need to be an accountant?
There isn't a single qualification that everyone must have to work in accounting.
You can start your accounting career without immediately holding a professional qualification, particularly in junior and trainee roles. Professional qualifications such as ACCA, CIMA and ACA can then help you develop your technical knowledge, professional experience and career opportunities.
For example, ICAEW states that you don't necessarily need a degree to register as an ACA student, provided you meet its minimum entry requirements.
Your employer may also support you through your studies, particularly if you join an accounting practice, finance team or graduate/trainee programme.
What about AAT?
AAT can be another route into accounting, particularly for people starting out in the profession.
It can provide a foundation in accounting and help you progress into further study or employment. There are also progression routes from AAT into qualifications such as ACA and ACCA, depending on your circumstances and the relevant entry requirements.
This means you don't necessarily have to decide your entire accounting career from day one.
Your first qualification can be a stepping stone to the next stage.
Your accounting career doesn't have to follow a straight line
One of the advantages of a career in accounting is the number of directions you can take.
You might start in accounts and move into management accounting. You could begin in practice and later move into industry. You might specialise in audit or tax before moving into a broader finance leadership role.
Your professional qualification is an important part of that journey, but so are practical experience, commercial awareness, communication skills and the type of roles you take along the way.
At Sheridan Maine, we work with accounting and finance professionals at different stages of their careers, from early-career professionals through to senior finance leaders.
If you're considering your next step in accounting or finance, understanding your options is a good place to start.
