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foundations in accountancy and the acca qualification PDF

36 Pages·2011·0.32 MB·English
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FOUNDATIONS IN ACCOUNTANCY AND THE ACCA QUALIFICATION AN OVERVIEW FOR EMPLOYERS FOUNDATIONS IN ACCOUNTANCY AND THE ACCA QUALIFICATION 1 22 Contents Why choose ACCA? 4 Foundations in Accountancy 5 Why will Foundations in Accountancy be good for my organisation? Foundations in Accountancy Overview of Foundations in Accountancy The ACCA Qualification 17 Why choose the ACCA Qualification? The ACCA Qualification Exams Ethics Experience ACCA qualified ACCA Approved Employer programme 34 Fees and contact details 34 FOUNDATIONS IN ACCOUNTANCY AND THE ACCA QUALIFICATION CONTENTS 3 Why choose ACCA? ACCA is the leading global body for professional accountants. We offer world-class finance and accountancy qualifications and brand partnering opportunities through our unrivalled global, regional, national and local network of offices and partners. We help businesses grow by developing their finance capability and enhancing their brand reputation. FINANCE CAPABILITY brand exposure for your organisation through their deep skills and knowledge in We prepare accountants for business. as we have a leading platform with corporate and business law, taxation and ACCA can uniquely support your unmatched visibility, channels to market audit and assurance. organisation in developing its finance and influence at global, regional, national capability because our qualifications can and local levels. Our values are aligned to the needs of be tailored to delivering the finance skills employers in all sectors. We ensure it needs. We provide renowned finance through our qualifications that we and accountancy qualifications for any OUR PEOPLE help build the finance capabilities your organisation in any sector and with 83 We support our 147,000 members and business needs, and through our brand we offices and 400 examination centres 424,000 students in 170 countries, give you the best partnership opportunities worldwide, we have the greatest network helping them to develop successful for your organisation. ACCA helps you to qualification delivery capability and careers in accounting and business, based grow your business. professional development programme of on the skills required by employers. any accountancy body. We will work with you to ensure flexible, accessible, cost ACCA accountants in the corporate and effective training delivery at all levels. public sectors transform the finance capabilities of their organisations through their in-depth skills in finance strategy, BRAND REPUTATION business analysis, investment appraisal, As the leading global professional cost control, financial management, accountancy body we can uniquely performance management, risk support building your business brand management, and financial reporting. In through partnership opportunities. public practice, ACCA accountants provide Partnership with ACCA delivers great advice from a business perspective 4 Foundations in Accountancy Why will Foundations in Accountancy be good for my organisation? REACH AND DEVELOP NEW PROFESSIONALISM AND ETHICS duties. Your organisation will be able TALENT POOLS With increased scrutiny in recent years to achieve better and earlier returns on Competition for talent remains high. Good on how businesses operate, it is essential its training investments as people will graduates and qualified professionals in that all trainees – irrespective of which be able to progress to a level matched particular are hard to come by. Foundations level or role they work in – know what it to their capabilities and appropriate in Accountancy will help your organisation means to act and behave professionally for their job roles. Foundations in access new talent pools such as school and ethically in the workplace. With Accountancy will provide an excellent leavers and career changers. It allows your the introduction of Foundations in grounding for employees who have the employees to demonstrate their capabilities Professionalism, which is a requirement potential to perform well in technical and and enables you to identify talented people for all trainees to complete if they wish management positions which will reduce for further development. to receive certification for an individual the time and costs of studying for the award, you will be able to reassure your ACCA Qualification. clients that you have employees who ENHANCE YOUR REPUTATION AS AN know how to behave professionally and EMPLOYER OF CHOICE ethically within the work environment. DEVELOP ESSENTIAL FINANCE SKILLS Foundations in Accountancy will reinforce ACROSS THE WHOLE ORGANISATION your organisation’s reputation in the Non-financial managers must have a employment market as an organisation HELP YOU CONTROL YOUR COSTS good grounding in finance and accounting that provides opportunity. The modular Qualified professional accountants are techniques in order to make effective and progressive nature of the suite of not required at all levels of the finance business decisions. Foundations in awards enables people to join, and exit, function within business. Foundations Accountancy can be used to provide this. at levels that can be matched to their job in Accountancy will enable you to Managers can enter at, and progress to, roles and capabilities. reduce and target more effectively a level of expertise matched to their level the costs of recruitment, salary and of financial responsibility – from essential training by developing junior employees knowledge at the certificate levels to the in the specific occupational skills that diploma level, which is more relevant for they need to effectively perform their those working in practice. 6 Foundations in Accountancy ACCA’s suite of entry-level awards – Foundations in Accountancy – has been developed with employers in mind. This suite of qualifications will provide you with access to competent and ethical technicians, trained to consistent standards, with built-in flexibility to allow for skills to be tailored to meet different business needs and environments. The accountancy profession at every level qualification to help them contribute the needs of employers by allowing is constantly evolving to meet the needs to business performance and an ever- individuals to choose from a flexible range and demands of how businesses operate changing business landscape. of qualifications which will help them and nowhere is this more apparent develop the relevant technical knowledge than at an accounting-support level. Foundations in Accountancy will and practical skills required to perform in The accounting technician of today and provide even greater access to the accounting technician roles. tomorrow needs a rigorous and flexible ACCA Qualification and aims to satisfy MATHS AND ENGLISH SELF-CHECK MODULES (optional) FOUNDATIONS IN PROFESSIONALISM MODULE + 2 exams + 2 exams + 3 exams + 2 exams from 3 = INTRODUCTORY = INTERMEDIATE + FPER = CERTIFIED CERTIFICATE IN CERTIFICATE IN = DIPLOMA IN INCLUDING SPECIALIST ACCOUNTING FINANCIAL AND FINANCIAL AND ACCOUNTING 12 MONTHS’ AWARDS TECHNICIAN MANAGEMENT MANAGEMENT AND BUSINESS WORK (CAT) ACCOUNTING ACCOUNTING EXPERIENCE + PROFESSIONAL ETHICS MODULE + 6 exams = ADVANCED DIPLOMA IN BSc from Oxford Brookes University ACCOUNTING AND BUSINESS + PER INCLUDING 36 MONTHS’ WORK EXPERIENCE + 5 exams = ACCA MBA from Oxford Brookes University member FOUNDATIONS IN ACCOUNTANCY AND THE ACCA QUALIFICATION FOUNDATIONS IN ACCOUNTANCY 7 MATCHING FOUNDATIONS IN Diploma in Accounting and Business ACCOUNTANCY SUITE OF AWARDS TO Suitable for those aspiring to work or ROLES AND LEVELS already working in: As a guideline, we have matched roles • a wide ranging and responsible and qualifications against the suite of accounting role in an SME qualifications within Foundations in Accountancy. • a financial reporting and/or financial decision-support role, possibly in a Introductory Certificate in Financial and supervisory role, within an accounting Management Accounting department of a larger organisation Suitable for those aspiring to work or • a financial supervisory or management already working in: role in accounts payables and/or • a junior accounts clerk/junior receivables, or a financial role in fixed bookkeeper role in a small-medium asset accounting or in financial shared sized enterprise (SME) service centres • a range of junior accounting • an accounting technician role in a administration roles within an commercial organisation. accounting department of a larger organisation or financial shared The Diploma in Accounting and Business service centre. is broadly equivalent to UK Higher National Diploma level or equivalent. The Introductory Certificate in Financial and Management Accounting is broadly equivalent to UK GCSE level. Intermediate Certificate in Financial and Management Accounting Suitable for those aspiring to work or already working in: • a bookkeeping or cost clerk role in an SME • a range of accounting administration roles within an accounting department of a larger organisation or financial shared service centre. The Intermediate Certificate in Financial and Management Accounting is broadly equivalent to UK A level. 8 Overview of Foundations in Accountancy Foundations in Accountancy consists of a suite of awards, including certificates, diplomas and the 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 that you can pick the level of qualification which most appropriately meets your business needs. The first examinations will take place in ENTRY REQUIREMENTS Optional English and maths self-check December 2011. Foundations in Accountancy offers various modules entry points, allowing maximum flexibility ACCA operates an open entry policy Foundations in Accountancy contains the for your trainees to select the most through Foundations in Accountancy. following qualifications: appropriate entry route and progression However, to assist prospective students • Introductory Certificate in Financial and to additional qualifications, based on – and their employers – in gauging their Management Accounting – awarded previous qualifications, experience and general level of ability in English and on completion of exams Recording future career aspirations. maths, ACCA has developed optional Financial Transactions (FA1) and self-check modules in English and maths. Management Information (MA1); and It is important to note that exams FAB, Included within the self-check modules Foundations in Professionalism FMA and FFA within Foundations in are learning materials to help students Accountancy are exactly the same as improve their English language and maths • Intermediate Certificate in Financial and exams F1, F2 and F3 of the ACCA skills which they may wish to complete Management Accounting – awarded on Qualification and share identical before embarking on any of ACCA’s the completion of exams Maintaining syllabuses, study guides and assessment qualifications. The self-check modules are Financial Records (FA2) and Managing methods. Students who complete F1, F2 free of charge and can be accessed online Costs and Finance (MA2); and and F3 of the ACCA Qualification and at www.accaglobal.com Foundations in Professionalism Foundations in Professionalism will also • Diploma in Accounting and Business be awarded the Diploma in Accounting – awarded on the completion of and Business. FOUNDATIONS IN PROFESSIONALISM exams Financial Accounting (FFA), In line with current best practice, and Management Accounting (FMA) Students with no formal academic to meet IFAC’s (International Federation Accounting in Business (FAB); and qualifications can register to take exams of Accountants) recommendations for Foundations in Professionalism at any level within Foundations in technical accountants, a professionalism Accountancy. There is no requirement to and ethics module is included as part of • Certified Accounting Technician (CAT) complete the Introductory Certificate in Foundations in Accountancy. Completion • Specialist papers in audit, tax and Financial and Management Accounting or of Foundations in Professionalism is financial management are available as the Intermediate Certificate in Financial compulsory for students who wish individual awards. A certificate will be and Management Accounting prior to to be awarded the Introductory and awarded on the successful completion completing the Diploma in Accounting and Intermediate certificates in Financial of the exam and Foundations in Business, although students are strongly and Management Accounting, the Professionalism. recommended to do so. Diploma in Accounting and Business FOUNDATIONS IN ACCOUNTANCY AND THE ACCA QUALIFICATION OVERVIEW OF FOUNDATIONS IN ACCOUNTANCY 9 and the CAT Qualification. Please note EXEMPTIONS Foundations in Professionalism only needs Students with relevant qualifications to be completed once by students who from a recognised institution may be choose to complete one or more of these eligible to claim exemption from papers awards. Foundations in Professionalism within Foundations in Accountancy. is free of charge and can be accessed Students who choose to complete the from the ACCA website. Foundations CAT Qualification may be eligible to claim in Professionalism will not contribute exemptions from some or all of the papers towards the Professional Ethics module within the Introductory Certificate in which is part of the ACCA Qualification as Financial and Management Accounting they are distinct and separate modules. and Intermediate Certificate in Financial and Management Accounting based on relevant practical experience. 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. 10

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ACCA is the leading global body for professional accountants ACCA's suite of entry-level awards – Foundations in Accountancy – has been
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Most books are stored in the elastic cloud where traffic is expensive. For this reason, we have a limit on daily download.