Foundations In Accountancy

ACCA’s suite of entry-level awards bestows the Foundations in Accountancy (FIA) qualification on the completion of nine exams. Along the way you will be awarded the Introductory and Intermediate Certificate in Financial and Management Accounting , the Diploma in Accounting and Business and the well-known CAT qualification.

GETTING STARTED
1. Registration
The first thing you need to do is to register with the professional body (that’s CIMA, ACCA, CFA or ICB). With NATED you can skip this step.
2. Exemptions
If you have an existing qualification, you’ll want to apply for exemptions with CIMA or ACCA. The other institutes don’t allow for exemptions.
3. Expert Support
You’ll want to sign up with a college to get expert help. Study less and score higher by signing up with a study partner who has helped thousands of students prepare for their exams.
4. Exams
Register for your exam, get sufficient exam practice, and sit your exam as planned. You’re one step closer to achieving your qualification.

SUBJECTS
1. Recording Financial Transactions
You’ll develop knowledge and understanding of the main types of business transactions and documentation and how these are recorded in an accounting system up to the trial balance stage.
2. Management Information
You’ll develop knowledge and understanding of providing basic management information in an organisation to support management in planning and decision-making.
3. Maintaining Financial Records
You’ll develop knowledge and understanding of the underlying principles and concepts relating to Maintaining Financial Records and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.
4. Managing Costs and Finances
You’ll learn how to prepare, process and present basic cost information to support management in planning and decision-making in a variety of business contexts.
5. Foundations in Business and Technology
You’ll develop knowledge and understanding of the business and its environment and the influence this has on how organisations are structured and on the role of accounting and other key business functions in contributing to the efficient and effective and ethical management and development of an organisation.
6. Financial Accounting
You’ll 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.
7. Management Accounting
You’ll develop knowledge and understanding of management accounting techniques to support management in planning, controlling and monitoring performance in a variety of business contexts.
8. Foundations in Audit
You’ll develop knowledge and understanding of the principles of external audit and the audit process and technical proficiency in the skills used for auditing financial statements.
9. Foundations in Taxation
You’ll be introduced to the subject of taxation and develop the core knowledge of the underlying principles and the major technical areas of taxation, as they affect the activities of individuals and businesses.
10. Foundations in Financial Management
You’ll develop knowledge and understanding of ways organisations finance their operations, plan and control cash flows, optimise their use of working capital and allocate resources to long term investment projects