School Partner: Kaplan Singapore
Intake: July 2022
The Foundations in Accountancy (FIA) suite focuses on the core skills of financial accounting and management accounting, as well as the wider role of the accountant in business at senior levels. It consists of a suite of awards, including Certificates and Diplomas awarded by the Association of Chartered Certified Accountants (ACCA).
About this Course
Upon completion of the ACCA Diploma in Accounting and Business (RQF Level 4), you can receive exemptions for modules ranging from Business and Technology (BT) to Financial Accounting (FA) and continue your studies from Business Law (LW) onwards.
The awards in the FIA Suite will qualify you to work in a range of jobs based on the number of papers you successfully complete. With the ACCA Diploma in Financial and Management Accounting (RQF Level 3), you will be able to work in a number of junior accounting or bookkeeping roles, and with a Certified Accounting Technician qualification, supervisory and management roles are available in the area of finance.
If you have no prior accounting qualifications, we recommend that you begin with the first award – ACCA Diploma in Financial and Management Accounting (RQF Level 2). This award is broadly equivalent to the GCSE level and is a good starting point for gaining the rest of the qualifications.
Entry Requirements
ACCA Diploma in Financial and Management Accounting (RQF Level 2 & 3)
- Minimum Age: 16
- Academic Level: No formal academic or accounting knowledge
- Language Proficiency: IELTS 4.5 or equivalent OR pass English language at GCE N-levels or its equivalent OR successfully pass ACCA English Test OR successfully pass Kaplan English Placement Test
ACCA Diploma in Accounting and Business (RQF Level 4)
- Minimum Age: 16
- Academic Level: No formal academic or accounting knowledge
- Language Proficiency: IELTS 5.0 or equivalent OR pass English language at GCE N-levels or its equivalent OR successfully pass ACCA English Test OR successfully pass Kaplan English Placement Test
Exemptions
ACCA offers exemptions for those who have relevant qualifications. All students must contact ACCA to confirm their exemptions. Detailed information about this can be found at http://www.accaglobal.com/exemptions.
Course Modules and Learning Outcomes
Recording Financial Transactions (FA1)
To develop knowledge and understanding of the main types of business transactions and documentation, and learn how these are recorded in an accounting system up to the trial balance stage.
Management Information (MA1)
To develop knowledge and understanding of providing basic management information in an organisation to support management in planning and decision making.
Managing Costs And Finance (MA2)
To learn how to prepare, process and present basic cost information to support management in planning and decision making in a variety of business contexts.
Maintaining Financial Records (FA2)
To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting, and technical proficiency in the use of double-entry
accounting techniques, including the preparation of basic financial statements.
Foundations in Business and Technology (FBT)
To introduce knowledge and understanding of the business, its environment and the influence this has on how organisations are structured, as well as on the role of accounting and other key business functions in contributing to the efficient, effective
and ethical management and development of an organisation, its people and its systems.
Management Accounting (FMA)
To develop knowledge and understanding of management accounting techniques to support management in planning, controlling and monitoring performance in a variety of business contexts.
Financial Accounting (FFA)
To develop knowledge and understanding of the underlying principles and concepts relating to financial accounting and technical proficiency in the use of double-entry accounting techniques, including the preparation of basic financial statements for single entities and simple groups. You will also be introduced to basic techniques regarding interpretation of financial statements.
Preparatory Courses for the Foundation in Accountancy (FIA)
ACCA Diploma in Financial and Management Accounting (RQF Level 2)
Course Completion Requirements
To achieve the ACCA Diploma in Financial and Management Accounting (RQF Level 2), you will need to register as a student in Foundations in Accountancy and complete:
- 2 exams: Recording Financial Transactions (FA1) and Management Information (MA1)
- A professionalism and ethics module called Foundations in Professionalism
Course Duration
ACCA Diploma in Financial and Management Accounting (RQF Level 2) exams are available in both computer-based and written formats in June and December. You can complete this certificate in 6 months or less. However, you must complete the Foundations in Professionalism module before or after the exams to achieve this certificate.
Career Opportunities
- Junior accounts clerk/bookkeeper role in a small to medium sized enterprise
- A range of junior accounting administration roles within the accounting department of a larger organization or financial shared service center
Academic Pathways
You can go on to complete the ACCA Diploma in Financial and Management Accounting (RQF Level 3) or the ACCA Diploma in Accounting and Business (RQF Level 4).
ACCA Diploma in Financial and Management Accounting (RQF Level 3)
Course Completion Requirements
To achieve the ACCA Diploma in Financial and Management Accounting (RQF Level 3), you will need to register as a student in Foundations in Accountancy and complete:
- 2 exams: Maintaining Financial Records (FA2) and Managing Costs and Finance (MA2)
- A professionalism and ethics module called Foundations in Professionalism. (You are not required to take this module again if you have successfully completed it previously)
- Note: You may wish to complete the ACCA Diploma in Financial and Management Accounting (RQF Level 2) before attempting the ACCA Diploma in Financial and Management Accounting (RQF Level 3). The ability level is broadly equivalent to the GCE A-level standards
Course Duration
ACCA Diploma in Financial and Management Accounting (RQF Level 3) exams are available in both computer-based and written-based formats in June and December. You can complete this certificate in 6 months or less. However, you must complete the Foundations in Professionalism module before or after the exams to achieve this certificate.
Career Opportunities
- A bookkeeping or cost clerk role in a small to medium-sized organisation
- A range of accounting administration roles within the accounting department of a larger organisation or financial shared service centre
Academic Pathways
You can go on to complete the ACCA Diploma in Accounting and Business (RQF Level 4).
ACCA Diploma in Financial and Management Accounting (RQF Level 4)
Course Completion Requirements
If you do not have any formal qualifications or have completed the ACCA Diploma in Financial Management Accounting (RQF Level 2) and/or ACCA Diploma in Financial Management Accounting (RQF Level 3), you will need to complete:
- 3 exams: Foundations in Business and Technology (FBT), Management Accounting (FMA) and Financial Accounting (FFA)
- A professionalism and ethics module called Foundations in Professionalism. (You are not required to take this module again if you have successfully completed it previously)
Course Duration
ACCA Diploma in Accounting and Business (RQF Level 4) exams are available in both computer-based and written formats in June and December. You can complete this certificate in 6 months. However, you must complete the Foundations in Professionalism module before or after the exams to achieve this certificate.
Career Opportunities
- Basic bookkeeping trainee accountant in a commercial organisation or accounting practice
- Accounts clerk in the public sector
Academic Pathways
Graduates may choose to pursue the ACCA qualification Students who wish to achieve the Certified Accounting Technician (CAT) qualification will need to:
- Complete 2 out of the 3 additional specialist exams as follows:
- ACCA Certificate in Taxation (RQF Level 4)
- ACCA Certificate in Financial Management (RQF Level 4)
- ACCA Certificate in Audit (RQF Level 4)
- Obtain 1 year of relevant practical experience in an accounting role
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