Can I ask whereabouts you are based and what led you to do CFAB?
I havent done CFAB but understand it is a foundation course on offer by the ICAEW.
Have you already paid for your course? If so, I would suggest finishing it as it can give you some basics which is a really useful grounding if you have no prior business experience. I am not sure if doing this qualification will get you any exemptions from any of the CIMA subjects - will leave that for one of the training providers to perhaps advise.
Whilst you have the option to study CIMA through your workplace, it is worth considering, if you havent already, exactly where it is you want to end up in your career/what your ultimate role is/who you want to work for/what aspect of Accountancy interests you.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Personal view is similar to Joannes in that you should complete the CFAB AND do CIMA.
The two shopuld compliment each other. CIMA to my mind has nowhere near enough depth to their financial accounting studies but right from the get go will go into more detail on the management accounting side of things.
Doing CFAB gives you a head start in your understanding.
If you find that you are learning very little new by doing the two then thats just cenemting your knowledge base making you stronger.
If you are finding the two together hard going then thats showing you that they are not teaching you the same things and proving how right you were to do both.
Even where exemptions are offered don't take them as the early papers of any professional body get you into the mindset of the nightmare that is to follow.
For example, I studied the Open University Certificate in Accounting at the same stage as the first three ACCA papers and got good results on both sides of the fence.
Others in my OU group took the exams, claimed the exemptions and then started ACCA at a higher level... All of them had dropped out of the qualification within two papers as the jump was just too much because they had not been eased into it by sitting the first three papers that they could claim exemptions for so were not used to the question style of as much being written between the lines as on the paper or indeed the general style of questioning.
No matter what you decide to do do not pass up the offer of CIMA training supported by your employer. Those opportunities don't come along everyday.
Good luck in your studies and hope to hear much more from you as you progress,
kindest regards,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
