ACCA FIA - Foundations In Accountancy

Are you at the beginning stages of your business education? ACCA FIA is the perfect stepping stone to grasp the essentials of business finance and unlock new career opportunities in finance and beyong.

For those already working in finance or interested in this field, ACCA FIA provides the necessary technical expertise to excel in your role and pave the way for career advancement. It's also your first step towards further finance and accounting qualifications, including the globally acclaimed ACCA Qualification.

What is ACCA FIA?

ACCA Foundations in Accountancy (FIA) is a group of qualifications that offer a comprehensive understanding of the fundamentals of financial management and reporting, tailored for those embarking on their journey to financial literacy.

The ACCA FIA qualifications include:

• ACCA Diploma in Financial and Management Accounting (RQF Level 2)
• ACCA Diploma in Financial and Management Accounting (RQF Level 3)
• ACCA Diploma in Accounting and Business (RQF Level 4)
• Certified Accounting Technician (CAT)
• The Foundation Diploma (only available in Bangladesh and Pakistan)

Even for careers outside finance, ACCA FIA is a valuable asset. Understanding financial information recording and interpretation positions you to influence decision-making and business outcomes in any sector. It demonstrates to current and prospective employers your proficiency in finance and your ability to tackle business challenges effectively.

Who should take ACCA FIA?

For those without prior knowledge or aiming to switch to finance, we recommend beginning with the Foundations in Accountancy level (FIA) qualifications. FIA is the perfect starting point. This comprehensive path comprises introductory and intermediate certificates, providing a solid foundation if you want to pursue higher qualifications or boost your employability.

ACCA Qualification Academic Equivalent

• ACCA Diploma in Financial and Management Accounting (RQF Level 2) is equivalent to a GCE O-Level qualification
• ACCA Diploma in Financial and Management Accounting (RQF Level 3) is equivalent to a GCE A-Level qualification
• ACCA Diploma in Accounting and Business (RQF Level 4) is equivalent to the first year of a Degree programme.

What are the ACCA Entry Requirements?

There is no minimum entry requirements for ACCA FIA. However, for those without prior formal qualifications, we recommend you start at ACCA Diploma in Financial and Management Accounting (RQF Level 2), especially if it's been a while since you completed any studies. If you have taken an accounting subject in your GCE O-Level examinations, or you have the knowledge and work experience in finance and accounting, you can start with either ACCA Diploma in Financial and Management Accounting (RQF Level 3) or ACCA Diploma in Accounting and Business (RQF Level 4).

ACCA FIA Course Details

ACCA Diploma in Financial and Management Accounting (RQF Level 2)

Ideal for beginners in finance and accounting, this qualification is broadly matched to a GCE O-Level qualification or equivalent, and it comprises two modules:

• Recording Financial Transaction (FA1): You'll develop knowledge and understanding of the main types of business transactions and documentation and how those are recorded in an accounting system up to the trial balance stage.
• Management Information (MA1): You'll develop knowledge and understanding of providing basic management information in an organisation to support management in planning and decision-making.

Time to complete both modules: 3 months

ACCA Diploma in Financial and Management Accounting (RQF Level 3)

Equivalent to a GCE A-Level education, this qualification consists of two modules:

• Maintaining Financial Records (FA2): In this modules, you'll develop knowledge and understanding of the underlying principles and concepts relating to financial records and technical proficiency in the use of double-entry accounting techniques including the preparation of basic financial statements.
• Managing Costs and Finance (MA2): This module teaches you to prepare, process and present basic cost information to support management in planning and decision-making in a variety of business contexts.

Time to complete both modules: 3 months

ACCA Diploma in Accounting and Business (RQF Level 4)

This advanced qualification, comparable to the first year of a Degree programme, includes three modules:

• Business and Technology (FBT): You'll understand 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, effective and ethical management and development of an organisations, its people and systems.
• Financial Accounting (FFA): This module will cover 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. You'll also be introduced to basic techniques of interpretation of financial statements.
• Management Accounting (FMA): You'll learn about management accounting techniques to support management in planning, controlling and monitoring performance in a variety of business contexts.

Time to complete both modules: 8 months

Want to Begin Your ACCA FIA Journey? Join Us!

Spring Training provides a comprehensive ACCA Foundation in Accountancy (FIA) courses that help students to pass their ACCA exams with flying colours. If you have any inquiries, email us at [email protected].