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Foundations in Accountancy Online Distance Learning Course
Foundations in Accountancy consists of a group of awards, including certificates, diplomas and a revised Certified Accounting Technician (CAT) Qualification.
These awards focus on the core skills of financial accounting and management accounting; and the wider role of the accountant in business at higher levels. It provides 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.
Awarding Body
The Association of Certified and Chartered Accountants UK
Introductory Certificate in Financial and Management Accounting
The Introductory Certificate in Financial and Management Accounting is awarded on the completion of exams Recording Financial Transactions (FA1) and Management Information (MA1) and Foundations in Professionalism.
The Introductory Certificate is suitable for those aspiring to work or already working in:
- a junior accounts clerk/junior bookkeeper role in an SME;
- a range of junior accounting administration roles within an accounting department of a larger organisation or financial shared service centre.
The Introductory Certificate in Financial and Management Accounting is broadly equivalent to GCSE level.
Intermediate Certificate in Financial and Management Accounting
The Intermediate Certificate in Financial and Management Accounting is awarded on the completion of exams Maintaining Financial Records (FA2) and Managing Costs and Finance (MA2) and Foundations in Professionalism.
The Intermediate Certificate is 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 A level.
Diploma in Accounting and Business
The Diploma in Accounting and Business is awarded on the completion of the exams Financial Accounting (FFA), Management Accounting (FMA), Accounting in Business (FAB) and Foundations in Professionalism.
The Diploma is suitable for those aspiring to work or already working in the following types of roles:
- basic bookkeeping;
- trainee accountant in a commercial organisation or accounting practice;
- accounts clerk in public sector.
The Diploma in Accounting and Business is broadly equivalent to HND level/equivalent to the first year of a degree.
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. However, please note students who continue with the CAT Qualification will either have to go back and complete FA1, MA1, FA2 and MA2 or claim exemption from these exams on the basis of practical experience.
On completion of the CAT Qualification, students may then progress onto the ACCA Qualification from F4 onwards. They can also count the four performance objectives and one year's work experience gained to achieve the CAT Qualification towards the three years' work experience and 13 performance objectives required for the ACCA Qualification.
Certified Accounting Technician (CAT)
In order to obtain the CAT Qualification, students will need to complete the following:
- FA1, MA1, FA2, MA2, FAB, FFA and FMA;
- two of the three specialist papers;
- a practical experience requirement;
- Foundations in Professionalism.
Students completing the CAT Qualification can claim exemption from exams FA1, MA1, FA2 and MA2 based on practical experience.
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 four essentials competences and one year's work experience gained to achieve the CAT Qualification towards the three years' work experience and 13 performance objectives required for the ACCA Qualification.
Information on Papers
Recording Financial Transactions (FA1)
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.
Management Information (MA1)
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.
Maintaining Financial Records (FA2)
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.
Managing Costs and Finances (MA2)
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.
Financial Accounting (FFA)
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.
Management Accounting (FMA)
To develop the knowledge and ability to apply appropriate management accounting concepts and foundations in acountancy techniques for decision making, planning and control including forecasting techniques, the preparation of budgets and standard costs and performance measurement.
Accountant in Business (FAB)
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.
Options papers
Foundations in Taxation (FTX)
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.
Foundations in Financial Management (FFM)
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.
Foundations in Audit (FAU)
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.
Start Dates
Every Monday, except UK Bank Holidays.
Duration
1 to 4 years is the estimated study period, depending on the course.
Assessment
One external examination for each paper.
Examinations
External examinations are held at ACCA Examination Centres in London, UK Regional Centres, and British Council offices worldwide.
Examinations are in June and December. A maximum of 4 subjects can be taken per year.
Study Time
Personal Studies: Estimated 8 to 10 hours per week.
The estimated minimum completion time, if no re-takes, is 2 years or 4 sittings.
Tutor Support
Following registration, you will be allocated a UK-based tutor, who will be available by telephone, fax, and email to discuss your coursework and give advice and guidance on assignments and examination revision.
Study Fees
£150 GBP per paper.
Programme Package Includes:
- Programme of study
- Study texts
- Examination kit
- Personal tutor support by email and telephone
Course Delivery
The course is a self study course. It is delivered via an online Virtual Learning Environment (VLE) called Moodle. Please contact us if you require any further information.
Important Information
ACCA Registration & Examination Fees
Study fees exclude amounts payable to the professional body for student registration, exemptions and examination entries.
The following ACCA fees must be paid separately:
- Initial Registration
- Annual Subscription
- Examinations / Exemption Fees
Information can be found on ACCA Global website: http://www.acca.co.uk/students/fia/info/fees
For more information and an application form please complete our enquiry form. Please click here for payment methods.
