I'm a CIMA finalist and am planning to do some self employed work when I qualify with the aim of reducing my hours in my full time job to. I have a few questions that I can't find the answer to elsewhere.
[EDIT] Due to some confusion with my original question please note, this is WHEN I am qualified and admitted as an associate of the Institute, not before. I aim to be so within the year, so this is only some forward planning on my side - not some illegal attempt to misrepresent myself.
Does an ACMA have to use the term "Chartered Management Accountant" or can they simply call themselves a "Chartered Accountant"? I think having the extra term in there "management" may simply confuse a potential client.
Also, is there any kind of logo available for ATT? I'm aware of the CIMA MiP logo, but can't find anything similar for ATT.
Thanks in advance.
Robin Dunne
Replies (16)
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Some clarification
Robin,
As this is your first time posting here I must commend you on your maturity in comparison to some of the other posters on this thread, all this name calling is crass and uncalled for.
In terms of the legality, CIMA has nothing in place to 'register' students as practising, but it is not like ACCA where students are prohibted from practising. If you do decide to do any paid work, you are essentially working as an unqualified accountant, and it may be worth considering joining ICPA for the support you can get and the professional indemnity insurance, some do so for the title but I personally believe that qualification should be earned and not bought. CIMA will not take action against you for practising while a student but would get involved if a client made a complaint, ie for negligence. Things change when you are qualified, that is when you must be registered as a member in practice and then apply for a practising certificate a year later.
CIMA does have a very common sense approach to practising, the regulation is not as restrictive as ACCA, presumably because you will never get an audit certificate with CIMA.
Everybody else, either be constructive and helpful, or don't bother posting.
And remember
You do not need any qualifications to prepare accounts, file accounts at companies house and prepare tax returns. i would advertise yourself as an accountant now and start building up some clients asap.
Once you qualify, you can then stick all the fancy titles and letters after your name, and even the fancy logo's you desire so much.
Who is chartered?
I think you'll find that members of ACCA, CIPFA, CIMA all have the consent of the royal charter and are entitled to call themselves a 'chartered' accountant.
Sorry to any ACA folk but its not a term exclusivley for you.
most people keep the prefix of their body (e.g Chartered certified) out of pride and recognition for achieving the qualifcation
Robin
You sound a little thin-skinned.
You asked the questions and I answered them.
Apology accepted.
I know there is a tendancy to....
......
definative answer
Robin
You are a CIMA finalist - just pick up the phone and ask them for the definitive answer you seek.
(This is a public blog - how are you going to decide which answer you receive is definitive - cos it sounds definitive? )
shocked!
the responses to some questions by so called "professional" people on here never cease to amze me!
You've asked a relevant question Robin and although im afraid i cannot help you with the answer i wish you all the best of luck.
The first two responders should calm down a little - must be pressure of the looming deadline!
Chartered Management Accountant
Hi Robin,
A couple of options for you.
Once you've qualified and been admitted into membership, you may use the title 'Chartered Management Accountant', but hardly anyone does, mostly because people don't know what it means and if you're employed in industry you will usually have a job title that your employer gives you, those in practice usually use the ACMA letters but call themselves either 'Partner', or 'Director'.
If you really want to call yourself a chartered accountant, you could either qualify with ICAEW, or if you don't want to start again, wait five years after qualifying as an ACMA and apply to ICAEW through the pathways programme, you can then call yourself a Chartered Accountant.
However, after a further five years your career may have developed in other directions and this will no longer be an issue to you, if you are just qualifying in industry, I would really throw yourself into the role and achieve your ambitions first, after all, you chose industry over practice for a reason and there are some fantastic careers available if you're ambitious and flexible.
If you do intend to practice, either full time or on the side, then do get in touch with CIMA, I have found the MIP group in CIMA to be helpful in explaining how to comply with the various regulations, the CIMA website is quite good too.
Oh, and learning to spell stationery may help you in the future as well! (Stationary is an object that is not moving!)
Good luck.
Stationery
If you contact CIMA, they should be able to provide you with information regarding logos etc.
I've just had a quick look at their website and there's a section regarding logo's for practising certificate holders.
Type in "logo" in the top right hand side and it will take you there.
They obviously wait until you've qualified before they release it!!
I'd be more than happy to give you any further guidance, it's difficult when you first start up and nobody's there to help you :-)
Management Accountant
I was under the impression that a CIMA accounant would be classed as a management accountant? The same as an ACCA accountant would be classed as a certified accountant. It's only ACA that are chartered accountants. It the Chartered Institute of Management Accountants so the Chartered refers to the organisation, not the individividuals. ACA is Assosciation of Chartered Accountants.
I can understand wanting to get everything ready and in place for when you start trading, it's very time consuming and so you will save lots of time doing it now.
No
NO!
You can not call yourself a chartered account. (Is this a wind-up?). It would be far more misleading if you did than calling yourself a chartered management accountant.
You can not call yourself a chartered management accountant either until you have been accepted for membership by CIMA. That takes rather more than passing your finals.
You must be a Member in Practice in order to practice, but you can not do that until you have applied to be a MiP. You will need professional indemnity insurance, a commitment to CPD and a continuity agreement in place to be accepted as a MiP.
I am surprised you can't find the answers to your questions on the CIMA website.