Foundations in Accountancy consists of a suite of awards, including certificates, diplomas and a revised Certified Accounting Technician (CAT) Qualification. These flexible awards focus on the core skills of financial accounting and management accounting; and the wider role of the accountant in business at higher levels. The range of awards means employers can pick the level of qualification which most appropriately meets their business needs. In addition, it provides students with flexible entry points with certification awarded at each level, allowing students totailor the awards, making them an attractive and relevant choice for employers.

Foundations in Accountancy contains the following qualifications:

• Introductory Certificate in Financial and Management Accounting – awarded on the
  completion of exams FA1and MA1; and Foundations in Professionalism
• Intermediate Certificate in Financial and Management Accounting – awarded on the completion of exams FA2 and MA2; and Foundations in Professionalism.
• Diploma in Accounting and Business – awarded on the completion of exams FAB, FMA and FFA; and Foundations in Professionalism.
• Certified Accounting Technician (CAT) Qualification.
   

Students with relevant qualifications from a recognised institution may be eligible to claim exemption from papers within Foundations in Accountancy. Students who choose to complete the CAT Qualification may be eligible to claim exemptions from some or all of the papers within the Introductory Certificate in Financial and Management Accounting and Intermediate Certificate in Financial and Management Accounting based on relevant practical experience.

Foundations in Accountancy offers various entry points,allowing maximum flexibility for prospective students to select the most appropriate entry route and progression

To additional qualifications, based on their previous qualifications, experience and future career aspirations.

It is important to note 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. F1, F2 and F3 of the ACCA Qualification will be updated and also first examined in December 2011. 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.

Route 1:

No formal academic qualifications

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 Certificate in Financial and Management Accounting or the Intermediate Certificate in Financial and Management Accounting prior to completing the Diploma in Accounting and Business, although students are strongly recommended to do so.

As Foundations in Accountancy offers so much flexibility, there is no longer a need to provide the mature student entry route (MSER) as part of the ACCA Qualification. With the introduction of Foundations in Accountancy, students who do not meet the minimum entry requirements for the ACCA Qualification can register for Foundations in Accountancy and can start studying at any level, including the Diploma in Accounting and Business. There are no requirements to complete these papers within a given timescale in order to progress onto the ACCA Qualification. Students currently registered under the MSER on the ACCA Qualification will be notified of the changes and transition arrangements.

Route 2:

Meeting the minimum entry requirements for the ACCA Qualification For students who meet the minimum entry requirements to commence the ACCA Qualification i.e. have a minimum of 2 A Levels and 3 GCSEs or equivalent, they can either register for the ACCA Qualification and commence their studies at the Knowledge module with F1, F2 and F3; or register on the Foundations in Accountancy and complete the Introductory and Intermediate Certificates in Financial and Management Accounting if they prefer to take this route first. ACCA recommends students register directly onto the ACCA Qualification if they meet the minimum entry requirements for the qualification instead of entering the ACCA Qualification via Foundations in Accountancy. However, the option is available to those students who wish to obtain additional certificates at introductory and intermediate levels before commencing their studies on the ACCA Qualification.

PROGRESSION ONTO THE ACCA QUALIFICATION

Students who successfully complete the Diploma in Accounting and Business via Foundations in Accountancy can either:

• transfer to the ACCA Qualification and commence their studies at F4 onwards of the ACCA Qualification

OR

• continue to study for the Certified Accounting Technician (CAT) Qualification. On completion of the CAT Qualification, students may then progress onto the ACCA Qualification if they wish to do so, from F4 onwards. They can also count the three performance objectives and one year’s work experience gained to achieve the CAT Qualification towards the three years’ work experience required for the ACCA Qualification.

ADVANCED DIPLOMA IN ACCOUNTING AND BUSINESS

To ensure greater articulation between Foundations in Accountancy and the ACCA Qualification, ACCA is also introducing an Advanced Diploma in Accounting and Business which will form part of the ACCA Qualification. The Advanced Diploma in Accounting and Business will be awarded when students have completed or are exempt from the Fundamentals level exams of the ACCA Qualification. Students will also need to complete the Professional Ethics module in order to receive certification for the award of Advanced Diploma in Accounting and Business. Please note students will need to have taken and passed at least two of the six Skills module papers in order to qualify for the Advanced Diploma. The Advanced Diploma in Accounting and Business will be awarded to students who complete the Fundamentals level exams from the December 2011 exam session.

FOUNDATIONS IN PROFESSIONALISM

In line with current best practice, and to meet IFAC’s (International Federation of Accountants) recommendations for technical accountants, a professionalism and ethics module will be introduced as part of Foundations in Accountancy. Completion of Foundations in Professionalism is compulsory for students who wish to be awardedthe 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 when available, 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.

OPTIONAL MODULES

Maths  - Self-check online module

 English  - self-check online module 

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COMPULSORY MODULES - what is required? 

Professionalism and ethics - Online module to be completed once

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 QUALIFICATIONS 
 

Introductory certificate in Financial and Management Accounting

Foundation in Professionalism  - Two exams (FA1 and MA1)

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Intermediate certificate in Financial and Management Accounting

Foundation in Professionalism  - Two exams (FA2 and MA2)

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Diploma in Accounting and Business

 Foundation in Professionalism  - Three exams (FAB, FFA and FFA)

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CERTIFIED ACCOUNTING TECHNICIAN(CAT) 

Two from three options exams - FTX, FFM or FAU
One year relevant practical experience

Fee Structure For FIA Students

Click here to get more information from ACCA website

INTRODUCTORY CERTIFICATE IN FINANCIAL AND MANAGEMENT ACCOUNTING

FA1 ... Recording Financial Transactions

To introduce the basic accounting systems and documentation that will be encountered in the workplace. To develop knowledge and understanding of the operational aspects of maintaining accounting records and procedures and to learn how to record these transactions in the books of prime entry, including introduction to the principles of double entry and understanding how a computerised and a manual accounting system work.

MA1 ... Management Information

To introduce the student to the knowledge of basic cost information required for management accounting. To develop the knowledge and ability to recognise, collect and record basic cost and revenue information for planning and control including the use of spreadsheets in management accounting.

INTERMEDIATE CERTIFICATE IN FINANCIAL AND MANAGEMENT ACCOUNTING

FA2 ... Maintaining Financial Records

To introduce the fundamental principles of accounting and to develop the knowledge and understanding of the techniques used to maintain accounting records. To produce accounting records including ledger accounts, sales tax records (where applicable), control accounts, reconciliations, and extract and correct an initial trial balance also making the adjustments necessary to produce an extended trial balance. The syllabus also covers accounting for the business transactions of sole traders and partnerships.

MA2 ... Managing Cost and Finance

To develop the knowledge and understanding of the principles and techniques used in recording, analysing and reporting costs and revenues for internal management purposes. To demonstrate and develop applicable cost concepts in making short term decisions and the application of spreadsheets in management accounting.

DIPLOMA IN ACCOUNTING AND BUSINESS

FFA ... Financial Accounting

To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and to demonstrate technical proficiency in the use of double entry techniques, including the preparation and interpretation of basic

financial statements for sole traders, companies and simple groups of companies.

FFM ... Management Accounting

To develop the knowledge and ability to apply appropriate management accounting concepts and techniques for decision making, planning and control including forecasting techniques, the preparation of budgets and standard costs and performance measurement.

FAB ... Accountant in Business

To understand business in the context of its environment, including economic, legal, and regulatory influences on such aspects as governance, employment, health and safety, data protection and security. Additionally, to introduce certain aspects

of the regulatory framework as they affect auditing and governance, examining the roles of internal and external auditors and introducing the importance of internal control. The syllabus also introduces key management and people issues such as individual and team behaviour, leadership, motivation, personal effectiveness and professional ethics in accounting and business

OPETIONAL PAPERS TO QUALIFY FOR CAT

FTX ... Foundation in Taxation

To develop the core knowledge of the underlying principles and the major technical areas of taxation, as they affect the activities of individuals and businesses, at a level appropriate for someone working at technician level. Having covered the core

areas of the basic taxes, candidates should be able to compute tax liabilities, explain the basis of their calculations, complete the tax returns and identify

the compliance issues for each major tax through a variety of business and personal scenarios and situations.

FFM ... Foundation in Financial Management

To examine all aspects of cash and working capital management, and to develop an understanding of the sources of short and long-term finance. To develop the knowledge and understanding of the way organisations finance their operations and plan, allocate and control resources to optimise returns.

FAU ... Foundations in Audit

To develop knowledge and understanding of external audit and the techniques used in the conduct of external audits. Additionally to demonstrate knowledge

and understanding of internal control systems.

Experiance

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 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.

ACCA November 2011 Examination (CBE)
Name: Arsh Anand (ACB21204) Paper: F2 November 2011 ACCA Computer Based Examination
Name: Maria Khan (ACB21245) Paper: F2 November 2011 ACCA Computer Based Examination
ACCA June 2011 Examination (CBE)
Name: Amin Verani (AC210009) Paper: TT7 June 2011 ACCA Computer Based Examination
Name: Muhammad Hassan Nasir (ACB21101) Paper: F2 June 2011 ACCA Computer Based Examination
Top Scorer ACCA December 2010 (Manual Examination)
Name: Ahmed Moten Secured: 95% Marks in T5 December 2010 Examination
Name: Hadi Ali Chevalwala Secured: 90% Marks in T5 December 2010 Examination

Top Scorer (25th January)

Top Scorer (All)

Scholarship Policy For ACCA Students

Scholarship Awarded