Foundation in Accountancy (FIA) is an international training program designed and awarded by the Association of Chartered Certified Accountants (ACCA). Students can earn 4 certificates throughout the course, including:
• Introductory Certificate in Financial and Management Accounting • Intermediate Certificate in Financial and Management Accounting • Diploma in Accounting and Business • Certified Accounting Technician (CAT)
The program provides students with flexible entry points with certification awarded at each level. The 4 levels are successively equivalent to pre-university, A-level, 1st year and diploma program. In addition, students must complete the Foundations in Professionalism unit.
FIA program will provide greater access to the ACCA qualification and aims to satisfy the needs of employers by allowing individuals to choose from a flexible range of qualifications which help them develop the relevant technical knowledge and practical skills required to perform in accounting technician roles. Upon the completion of FIA, students can choose either to work immediately or continue their study to earn ACCA qualification.
Candidates and admission criteria:
– The qualifications can be used to develop recruits from secondary schools or to encourage those already working in accounts support roles to obtain formal recognition of their abilities. – There are no formal entry requirements. However, a good command of English is strongly recommended for students to follow the program. Students can take online self-assessment tests in Math and English to ensure their readiness for FIA.
Job opportunities:Upon the completion of specific qualifications, students can work as primary accountant secretary, trainee accountant, or accounting technician in SMEs (small and medium enterprises).
There are total 9 exams that students need to complete in order to obtain the FIA. Students have computer-based exams for the first 7 subjects, which mean that they can register for as many exams as possible and at any time of the year. Students have paper-based exams for 2 selective subjects in June or December each year.
Chartered Financial Analyst (CFA)
The Chartered Financial Analyst (CFA) Program is a professional credential offered internationally by the CFA Institute to investment and financial professionals. A candidate who successfully completes the program and meets other professional requirements is awarded the CFA charter – one of the most respected, reliable and recognized professional designations in the world.
Candidates and admission criteria:
– A bachelor’s degree or be in the fourth year of bachelor’s degree program. – A formal certificate of English proficiency is not required. However, students are strongly recommended to have IELTS 5.5 or TOEFL500 or C level. – Students should have foundational knowledge in finance and accounting, and logical thinking.
The CFA Program includes a series of three exams; Levels I, II, and III. The exams are offered annually at test centers around the world in June. The Level I exam is also offered in December. The exam content, learning focus, and question format increase in complexity with each level.
Duration of study:
Ideally, students can complete all 3 exams in 2 years. But in reality, successful candidates take an average of 4 years to earn their CFA charter. Candidates who fail any level can retake it at the next exam period.