Foundations In Accountancy

Foundations in Accountancy offers various entry points. Students with no formal academic qualifications can register to take exams at any level within Foundations in Accountancy. There is no requirement to complete the Introductory or Intermediate Certificate in Financial and Management Accounting prior to completing the Diploma in Accounting and Business, although students are strongly advised to do so.

Foundations in Accountancy contains the following exit-level qualifications:

• Introductory Certificate in Financial and Management Accounting – awarded on completion of exams Recording Financial Transactions (FA1) and Management Information (MA1); and Foundations in Professionalism
• Intermediate Certificate in Financial and Management Accounting – awarded on the completion of exams Maintaining Financial Records (FA2) and Managing Costs and Finance (MA2); and Foundations in Professionalism
• Diploma in Accounting and Business – awarded on the completion of exams Financial Accounting (FFA), Management Accounting (FMA) Accounting in Business (FAB); and Foundations in Professionalism (note that these are the same as the ACCA F1, F2 and F3 subjects.
• Certified Accounting Technician (CAT)
• Specialist papers in audit, tax and financial management are available as individual awards. A certificate will be awarded on the successful completion of the exam and Foundations in Professionalism

It is important to note that exams FAB, FMA and FFA within Foundations in Accountancy are exactly the same as exams F1, F2 and F3 of the ACCA Qualification and share identical syllabuses, study guides and assessment methods. Students who complete F1, F2 and F3 of the ACCA Qualification and Foundations in Professionalism will also be awarded the Diploma in Accounting and Business.

A professionalism and ethics module is included as part of Foundations in Accountancy. Completion of Foundations in Professionalism is compulsory for students who wish to be awarded the Introductory and Intermediate certificates in Financial and Management Accounting, the Diploma in Accounting and Business and the CAT Qualification. Please note Foundations in Professionalism only needs to be completed once by students who choose to complete one or more of these awards. Foundations in Professionalism is free of charge and can be accessed from the ACCA website. Foundations in Professionalism will not contribute towards the Professional Ethics module which is part of the ACCA Qualification as they are distinct and separate modules.

Yes, you do need practical experience. Students who wish to complete the CAT Qualification will be required to complete a practical experience requirement. Four of the CAT Qualification performance objectives will be the same as the performance objectives which form part of the ACCA Qualification, and will be introduced alongside the current elements of technical competence. If these four performance objectives are completed as part of the CAT Qualification practical experience requirements, they can count towards four of the 13 performance objectives required to achieve the ACCA Qualification. Students will be required to update and maintain paper records of progress towards performance objectives and technical competences.