ACCA FIA – Foundations in Accountancy

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 Transactions (FA1): 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.
• 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 module, 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 organisation, 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