Foundations in Accountancy (FIA) is a suite of awards offered by the Association of Chartered Certified Accountants (the ACCA).
The suite of awards within the FIA consists of certificates, diplomas and a Certified Accounting Technician (CAT) qualification.
These awards focus on the core skills of financial accounting and management accounting together with the wider role of the accountant in business.
If you are a student, you will benefit from flexible entry points to the FIA suite and also have the opportunity to obtain specific awards at the various levels.
The certificates and diplomas will be proof to both current and potential employers of your understanding of certain core business concepts and will also provide you with the opportunity to continue studies towards either the CAT qualification or obtain exemptions from certain papers within the prestigious ACCA qualification.
The ACCA (Association of Chartered Certified Accountants) is a global body for professional accountants. It was first established in London over 100 years ago and is currently the World’s largest accountancy body. There are nearly 700,000 members and students in 180 countries.
FA1 Recording Financial Transactions
Types of business transactions and documentation
Duality of transactions and the double entry system
Banking system and transactions
Sales and credit transactions
Purchases and credit transactions
Preparing the trial balance
MA1 Management Information
The nature and purpose of cost and management accounting
Source documents and coding
Cost classification and measurement
FA2 Maintaining Financial Records
Generally accepted accounting principles and concepts
The principles and process of bookkeeping
The preparation of journals and ledger accounts
Recording transactions and events
Preparing a trial balance and correcting errors
Extending the trial balance
MA2 Managing Costs and Finance
FAB Accountant in Business
The business organisation, its stakeholders and the external environment
Business organisational structure, functions and governance
Accounting and reporting systems, controls and compliance
Leading and managing individuals and teams
Personal effectiveness and communication
Professional ethics in accounting and business
FFA Financial Accounting
The context and purpose of financial reporting
The qualitative characteristics of financial information
The use of double-entry and accounting systems
Preparing a trial balance
Preparing basic financial statements
Preparing simple consolidated financial statements
Interpretation of financial statements
FMA Management Accounting
The nature, source and purpose of management information
Cost accounting techniques.
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