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Pursuing ACCA after CMA

  • 1.  Pursuing ACCA after CMA

    Posted 09-14-2023 01:26 PM

    Hi All,

    has anyone done ACCA (is pursuing ACCA currently) after getting your CMA qualification? If so, it would be great if you could share your experience. 

    thanks. 



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    Fazil Eshankulov
    Financial Management Professional
    Denmark
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  • 2.  RE: Pursuing ACCA after CMA

    Posted 09-18-2023 02:07 AM

    It was quite easy. You should fill in a form at ACCA website, send them CMA approval, and wait for excemption for a couple of months. 



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    Nikita Aleksandrov CMA,ACCA
    Chief Financial Officer
    Nur-Sultan
    Kazakhstan
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  • 3.  RE: Pursuing ACCA after CMA

    Posted 09-18-2023 10:51 AM

    Hi Nikita, 

    many thanks for your reply. May I ask many exemptions did you get from ACCA  (based on your CMA) and how many ACCA papers did you have to do at the end? I am just trying to gauge the time it will take me to complete ACCA.. 

    thanks and best regards,



    ------------------------------
    Faziljan Eshankulov
    Accountant
    Horsholm
    Denmark
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  • 4.  RE: Pursuing ACCA after CMA

    Posted 09-19-2023 12:51 AM

    How are you able to get Exemption by doing CMA and also what was their reply after few months.



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    Leander Paul
    Academic
    India
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  • 5.  RE: Pursuing ACCA after CMA

    Posted 09-19-2023 03:02 AM

    After I sent them all documents, I received the email:

    This assessment will take approximately 15 working days to be completed and you will be able to view awarded exemptions in the exam status screen within your myACCA account. You will be contacted via email with the outcome of the assessment.
    >
    >An invoice will be raised on your myACCA account for any awarded exemptions. Exemptions are charged at the early entry exam rate and are required to be paid within 30 days of being raised on your account. I have included a link below with the fees for these exemptions.
    >
    >http://www.accaglobal.com/gb/en/qualifications/accountancy-career/fees.html
    >
    >After the exemption request has been processed, you will then be able to enter for exams.



    ------------------------------
    Nikita Aleksandrov CMA,ACCA
    Chief Financial Officer
    Nur-Sultan
    Kazakhstan
    ------------------------------



  • 6.  RE: Pursuing ACCA after CMA

    Posted 09-19-2023 02:55 AM

    It was quite long ago, 2018 maybe. That time you had to pass 9 elementary ACCA papers + 5 professional. So for CMAs there was exemption for 7 of 9 elementary papers. I had to pass just F6 (taxation) and F7 (financial reporting) exams, plus 5 professional. 

    From that time they transformed their examination pattern, so numbers may change. 



    ------------------------------
    Nikita Aleksandrov CMA,ACCA
    Chief Financial Officer
    Nur-Sultan
    Kazakhstan
    ------------------------------



  • 7.  RE: Pursuing ACCA after CMA

    Posted 09-19-2023 08:19 AM

    Thanks Nikita, really appreciated. 

    I will try to apply for ACCA exemptions based on my CMA qualification (plus my MBA) and see if that takes me near getting exemptions for all 9 papers from Applied Knowledge and Applied Skills section. That way I would only have to do the papers from the Strategic Professional Level, which I think I could complete in little over than a year.

    I will also explore the CPA route just in case (now that you are allowed to take the International version of the CPA test through Prometric centers in select locations around the world). 



    ------------------------------
    Faziljan Eshankulov CMA
    Accountant
    Horsholm
    Denmark
    ------------------------------



  • 8.  RE: Pursuing ACCA after CMA

    Posted 09-20-2023 12:43 AM

    Hi,

    I have just checked the ACCA exemptions based on the CMA, there are only 3 papaers exempted 

    • Business and Technology (BT)
    • Management Accounting (MA)
    • Financial Accounting (FA)

    Please share if any changes recently; I am very much interested to do ACCA if more exemptions are avilable.



    ------------------------------
    Jain Mathew CMA

    ------------------------------



  • 9.  RE: Pursuing ACCA after CMA

    Posted 09-20-2023 02:44 AM

    Dear Jain, 

    I also got only three exemptions 



    ------------------------------
    Syed Bukhari CMA
    Analyst
    Al Khobar
    Saudi Arabia
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  • 10.  RE: Pursuing ACCA after CMA

    Posted 09-21-2023 03:07 AM

    The ACCA body downgraded CMA US qualification exemption from 7 to 3 papers lower than a B.COM level. The IMA body silence and not negotiating with them. Better we should advice new students not to enroll CMA US anymore for this degree which lost its value.

    Firoz CMA.



    ------------------------------
    Mohammed Yasin CMA
    Director/Manager
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  • 11.  RE: Pursuing ACCA after CMA

    Posted 09-21-2023 04:30 AM

    Dear Jain, Syed and Mohammed,

    thanks for your comments. Did you formally apply for ACCA exemptions (by submitting all the relevant documents) or are you assuming based on the ACCA's online exemption calculator? If it is the latter, then I think the calculator shows only 3 papers by default for any credential (I got the same 3 exemptions both with my Master's degree and CMA credential). To really find out how many exemptions you can receive, I believe you need to submit the exemption request formally that will entail thorough review and evaluation of your credentials by ACCA (which accordingly to ACCA Exemption FAQ section could take up to two weeks).

    best regards,



    ------------------------------
    Fazil Eshankulov, CMA
    Financial Management Professional
    Copenhagen, Denmark
    ------------------------------



  • 12.  RE: Pursuing ACCA after CMA

    Posted 09-22-2023 02:46 PM

    Hello,

    I reached out to ACCA and they indicated that I could receive 3 exemptions, which I believe where based on my Master's degree.

    Regarding the CMA, here is the ACCA response: "The ICMA is not a partner body with ACCA and its qualifications do not grant a direct membership with us."

    Yet there must be some sort of understanding between the two bodies, as their website indicates that "The ICMA (Institute of Certified Management Accountants) Board of Regents, representing the certification division of IMA (Institute of Management Accountants), has voted to waive its usual bachelor's degree requirement for ACCA members wishing to earn IMA's CMA (Certified Management Accountant) credential."  Certified Management Accountant Programme (with IMA)

    You can figure exemptions out using their online calculator or reaching out to them with certificates and transcripts. Please note that exemptions will only be confirmed once you have registered with ACCA.

    Sincerely,



    ------------------------------
    Farah Mathres CMA
    Finance Manager
    Nonprofit
    ------------------------------



  • 13.  RE: Pursuing ACCA after CMA

    Posted 10-02-2023 08:59 AM

    Dear Fazil Eshankulov,

    I emailed my  graduation and CMA certificates  to ACCA , they confirmed based on CMA ,3 papers and 4 papers are exempted based on my graduation.  Now It is better to do ACCA first then prepare for CMA. Except IMA those who would like be   most of the professional bodies are mutualy renewing / updating their MOU with other professional bodies so members of are geting advatages. 



    ------------------------------
    Jain Mathew CMA

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  • 14.  RE: Pursuing ACCA after CMA

    Posted 09-25-2023 07:34 PM

    Very interesting thread. I wonder if pursuing ACCA grants any CPE's for the yearly requirement from IMA.



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    David Nieto-Heurtebis
    Palma De Mallorca
    Spain
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  • 15.  RE: Pursuing ACCA after CMA

    Posted 09-26-2023 04:17 AM

    There was a rule in IMA requirements that every hour of an exam in recoqnized bodies accounts as 10 CPE's. So 1 ACCA exam accounted as 30 points.  



    ------------------------------
    Nikita Aleksandrov CMA,ACCA
    Chief Financial Officer
    Nur-Sultan
    Kazakhstan
    ------------------------------