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ACCA Launches ‘Foundations In Accountancy’

Apr 30, 2011 3:21:20 PM - thesundayleader.lk

With the aim of providing opportunities for talented people, whatever their background or prior learning, to progress to become a professional accountant, ACCA (the Association of Chartered Certified Accountants) which has become a global benchmark of accounting excellence, has launched its new entry-level suite of awards – Foundations in Accountancy (FIA) – which will be first examined in December 2011.
This qualification was created after detailed consultation with employers, learning providers, members and other professional accountancy bodies and regulators, to meet the ever increasing demand for professionally qualified accountants who have both a practical as well as ethical knowledge required for today’s businesses.
Foundations in Accountancy, consists of awards including certificates, diplomas and revised Certified Accounting Technician (CAT) qualification which focus on the core skills of financial accounting and management accounting and the wider role of accounting in business at a higher level, making it the most attractive and relevant choice for employers today.
Foundations in Accountancy also sees certification awarded at each level, helping students to monitor their progress, and helping employers to recruit and train to meet their own business needs. The practical content means that the knowledge students’ gain is directly applied to the workplace, offering immediate benefits to existing and prospective employers.
Foundations in Accountancy is divided into four parts that include: Introductory Certificate in Financial and Management Accounting, Intermediate Certificate in Financial and Management Accounting, Diploma in Accounting and Business and the Certified Accounting Technician Qualification (CAT) which includes specialist papers and work experience in audit, tax and financial management and provides a grounding in financial and management accounting, with professionalism and ethical behavior at its core — two attributes necessary in the fast moving environment in which the accountancy profession works.
The practical content of the qualification ensures that the knowledge students’ gain is directly applied to the workplace, offering immediate benefits to existing and prospective employers. With the Foundations in Accountancy qualification employers can be assured that candidates have the right professional and ethical skills that are required in the work place in a junior accounting or technician role. The syllabuses span the key elements of financial and management accounting at all levels offered, and also include an Accountant in Business exam at the Diploma level which puts students’ new knowledge into a legal, economic and regulatory context.
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 to develop their education and skills, making them an attractive and relevant choice for employers
The qualification is one of the most intensive and high quality courses available globally. ACCA has always strived to provide the growing student base with the best opportunities to raise the level of financial training to international standards and the FIA will further help achieve this goal. By listening to their customers, ACCA is confident that their entry-level qualifications is an attractive offering, which meets the needs of their stakeholders.