SAIPA or CIMA?

[Nicole Borbely]

Hi All,

I need some advise.....


I have done a B.Com Management Accounting degree through Unisa and now I need to decide if I want to study further or not.

The goal is I want to start my own bookkeeping company, and in order for me to do that I want to know what qualifications I need.

I have been looking at maybe doing SAIPA Articles or studying Postgraduate Diploma in Management Accounting through Unisa.

The problem is I do not know which way to go, so some advise would be helpful....

 

[Wall]

I'd say CIMA

 

[Cray]

Hi All,

I need some advise.....


I have done a B.Com Management Accounting degree through Unisa and now I need to decide if I want to study further or not.

The goal is I want to start my own bookkeeping company, and in order for me to do that I want to know what qualifications I need.

I have been looking at maybe doing SAIPA Articles or studying Postgraduate Diploma in Management Accounting through Unisa.

The problem is I do not know which way to go, so some advise would be helpful....

If full CIMA is your goal then take care - From the Unisa website -

Strategic Management III is required to register for MAC4863 & MAC4867. Students who did not pass Strategic Management III in their previous qualification, must register for and pass MNG2601, MNG3701 & MNG3702 towards non-degree purposes. Students must enrol for the modules in the prescribed sequence. Students should note that during the course of their studies they would be required to have access to a computer, printer and the internet. This qualification is accredited by CIMA (Certificate in Theory of Management Accounting (CTMA) which provides direct admission to the strategic level examination of the Chartered Institute of Management Accountants (CIMA) for students to eventually qualify as chartered management accountants.

The UNISA course is not actually the full CIMA course, you would still need to do your strategic level exams with CIMA and your Final case study exam (plus practical experience) before getting the full CIMA qualification. Not sure how many credits your Bachelor's degree will give you with CIMA, it's possible that you would need to do the Managerial level as well. It all depends on what your eventual goal is with regards to qualifications.

 

[initroot]

CIMA will be more beneficial in the long term. You'd also have to understand that there's a clear difference between CIMA and SAIPA, if all you want to do is open a bookkeeping account then SAIPA isn't going to hold you back.

Going corporate and moving up the ladder more strategic then CIMA will me much more beneficial.

 

[johnjm]

Saipa is nothing, means nothing, and the workplace doesn't recognise it. CIMA is better.

 

[IanM]

With a BCom specialising in Man Acc, you will receive exemption for the certificate BA and the operational level. So then you still need to complete the full management and strategic levels, as well as practical experience. If you complete the Postgraduate Diploma in Management Accounting through Unisa, you'll get the CIMA management level off as well.

+1 what Fransch said above. CIMA will be of more value but will also cost a lot more, since it's billed in GBP, and with our current exchange rate, it's quite a bite out of the pocket.

If money isn't that much of an issue for you, rather skip Unisa and start straight away with CIMA managerial level. I'm thinking the sooner you can get on the standard CIMA requires of you as a student, the easier you will pass. Unisa's content might not be on the same level as required by CIMA, which means you are going to find it a lot harder to pass the final strategic case study, as it will combine all that you have learnt.

I registered this past week, with a BCom specialising in Fin Acc, but only got exemption for certificate BA and F1.

My personal opinion, and strategy for myself as well, is to start doing CIMA and afterwards, or in between CIMA papers, write my SAIPA as well. Think it will be a decent combination to have in the SA job market.

 

[Vegeta]

Cima
But SAIPA first, its quick if you want to use it for your own bookkeeping practice. (Do books, tax, BBBEE certificates etc) Get you started.(You're going to need some money for CIMA)

CIMA is a longer route but def worth it if you want to go into the corporate sector later.

 

[initroot]

Saipa is nothing, means nothing, and the workplace doesn't recognise it. CIMA is better.

I don't agree with this. There is alot of successful SAIPA guys. It does deserve its spot in the marketplace. But that being said in the end your still going to be the guy doing to books of people earning the money instead of making it.

 

[WebNexus]

Can someone explain the process to me so I have a better understanding. If you have a private company you will need.
1- A bookkeeper to keep the books uptodate
2- A registered accountant/auditor/something? to sign those books off?

Is this correct? What is the cost and actual work difference between the two and what are the requirements to be able to sign the books off as required for a private company? Thanks!

 

[johnjm]

I don't agree with this. There is alot of successful SAIPA guys. It does deserve its spot in the marketplace. But that being said in the end your still going to be the guy doing to books of people earning the money instead of making it.

Tell me, what are SAIPA entrance requirements?

 

[initroot]

I'm perfectly certain you know that already. So your telling me there is no use for accountants not qualified as CA's?

Also why are we having a pissing contest about this? I've already agreed its clear as daylight CIMA is better. But you cant go and make statements telling that SAIPA's useless. Where do you get that from?

 

[johnjm]

I honestly dont know what the entrance requirements are.

What benefits are there from being a SAIPA member?

Serious question.

 

[aimz]

With the introduction of the new companies act, small private companies are no longer required to be audited. If their public interest score is less than 100, then an accounting officer can perform an independent review of the financial statements - you don't need a CA or a registered auditor for this.

 

[emptybruwer]

Do siapa with Cima!! It will take about 4 years

 

[initroot]

I honestly dont know what the entrance requirements are.

What benefits are there from being a SAIPA member?

Serious question.

http://www.saipa.co.za/articles/170432/criteria-and-requirements-full-membership

It's perfect for SME's whom doesn't need audits or CA's to do their books. SAIPA meets the middle ground.
It's not really even comparable with CIMA since CIMA focuses much more strategically than SAIPA, whom if we all are honest mostly focuses on small statements and tax.
http://irp5.co.za/saipa-vs-saica-vs-cima-whats-the-difference/

This kinds of sets it out nicely but there is some shocking wording " companies with turnovers of less than R100 million per annum. Although there are many other requirements, this in my opinion is the most identifiable trait of a non-public company as defined by the Companies Act." so ill take it with a pinch of salt.

 

[borga]

So your telling me there is no use for accountants not qualified as CA's?

Definitely not, there are many accountant positions for which CA's would be overqualified and a business could get it done far cheaper considering that a CA salary just out of articals in Gauteng is already 500kish which is a lot for smaller companies.

 

[IanM]

Do siapa with Cima!! It will take about 4 years

+1

This should be a good combination, if you don't want to go the CA route. Just keep in mind that, apart from the academic side, you are going to need 3 years of practical experience for the full CIMA designation.

 

[minty203]

[quote name=&quot;johnjm&quot; post=15116468]I honestly dont know what the entrance requirements are. <br />
<br />
What benefits are there from being a SAIPA member? <br />
<br />
Serious question.[/QUOTE]<br />
<br />
http://www.saipa.co.za/articles/170432/criteria-and-requirements-full-membership<br />
<br />
It's perfect for SME's whom doesn't need audits or CA's to do their books. SAIPA meets the middle ground. <br />
It's not really even comparable with CIMA since CIMA focuses much more strategically than SAIPA, whom if we all are honest mostly focuses on small statements and tax. <br />
http://irp5.co.za/saipa-vs-saica-vs-cima-whats-the-difference/<br />
<br />
This kinds of sets it out nicely but there is some shocking wording &quot;<i> companies with turnovers of less than <b>R100 million</b> per annum. Although there are many other requirements, this i<b>n my opinion is the most identifiable trait of a non-public company</b> as defined by the Companies Act.</i>&quot; so ill take it with a pinch of salt.<br/>

I actually authored that article. I've rightfully gotten flack for the R100mil turnover mention. It should be edited. I, at the time thought it a simple way to explain the saipa role. But I see now that it was a too broad generalisation. Companies with much less of a turnover can be classified as a public company and would need a ca to sign off their books. Anyways.

Saipa can do books of non-public companies without the need of a ca. A non-public company status is determined by a pi score. The pi score calc is more than just about turnover, it goes about how the company affects the public. Public in terms of assets, equity, liabilities, employees, etc. Read up about pi scores for more details.

You basically doing smes books as a practicing saipa accountant. You end up doing a lot of their admin things as well. Things like statutory registrations and maintenance thereof (uif, cipc, wc, etc) payroll, irp5s, etc.

If you want to run an accounting firm yourself, saipa can be good.

Go ca or cima route if you feel you want to go corporate, or want that option.

Although, a ca can do a saipa's job and you can still open your own firm, the ca would be overkill for that. If you wanna do ca and open a firm, then make sure Your articles are done at a firm where you would get the experience in accounting generally. Stuff like what a saipa would do, and not just audits.

It's very broad. And I'm sure there are other opinions that would dispute what I just said.

Pm me and we can chat if you want more specific details of what saipa is all about.

Peace.

 

[HavocXphere]

They all have their place.

Personally I would/am going for CIMA...

SAIPA is going to be a lot of SME books as minty says.

 

[IanM]

They all have their place.

Personally I would/am going for CIMA...

SAIPA is going to be a lot of SME books as minty says.

How far are you with CIMA?