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. For students, 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.
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
With an emphasis on flexibility and opportunity, the FIA/CAT qualification is accessible to anyone aged 16 years or older. There are no time constraints to complete your examinations, so a student can study and qualify at a pace which suits you. Candidate's previous examinations may also entitle him/her to exemptions from certain examinations. This will ensure point of entry is the most suitable for level of knowledge and skills and will prevent repeating areas with which they are familiar.
HSC / 'A' or SSC / 'O' Level Pass with 16 years age and that means a candidate of 16 years of age with HSC holders can join the course.
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.
Please visit the exemptions database opens in a new window to access information on exemptions.
|January||First registrations on Foundations in Accountancy
Sample exams available
|February||Conversion notices sent to existing CAT students|
|June||Last paper-based exams on current CAT Qualification|
|August||Current CAT students converted to Foundations in Accountancy|
|December||First paper-based and computer-based exams for Foundations in Accountancy
Please refer to Tuition fees to know details about tution fees.