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Transcript of ACCA Handbook 2010
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1 Eep a accrea 3
2 Aee r eep 7
3 Eep accrea appca 11
4 Rec ACCA qaca 15
5 Appece 21
Contents
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3ACCREditAtion hAndbook
What is exemptin accreditatin? 4
What types f prgrammes can be accredited? 4
Wh is this handbk intended fr? 4
What are the benefits f accreditatin? 4
Wh deals with accreditatin issues within ACCA? 4
Why des ACCA award exemptin? 4
What level f exemptin can ACCA award? 4
What are the key pints f ACCAs exemptin guidelines? 5
Wh deals with exemptin issues within ACCA? 5
exemption and
aCCreditation
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PRofEssionAl oPtions
P7, Advanced Audit and Assurance AAA
P6, Advanced Taxatin ATA
P5, Advanced Perfrmance Management APM
P4, Advanced Financial Management AFM
PRofEssionAl EssEntiAls
P3, Business Analysis BA
P2, Crprate Reprting CR
P1, Prfessinal Accuntant PA
fundAmEntAls skills
F9, Financial Management FM
F8, Audit and Assurance AA
F7, Financial Reprting FR
F6, Taxatin TX
F5, Perfrmance Management PM
F4, Crprate and Business Law CL
fundAmEntAls knowlEdgE
F3, Financial Accunting FA
F2, Management Accunting MA
F1, The Accuntant in Business AB
exemption and aCCreditation
whAt is ExEmPtion ACCREditAtion?
Exemptin accreditatin enables ACCA t award a specific
level f exemptin t graduates f an educatinal prgramme
fllwing a full assessment f the prgrammes regulatins,syllabus and assessments.
whAt tyPEs of PRogRAmmEs CAn ACCREditAtion bE
AwARdEd to?
ACCA accredits prgrammes cnducted by educatinal
institutins wrldwide. ACCA can accredit the fllwing types f
qualificatins fr exemptin:
Certificates
Diplmas
Fundatin degrees
Bachelr degrees
Pstgraduate qualificatins
Prfessinal qualificatins.
Prgrammes delivered at educatinal institutins that have
been franchised r validated by anther recgnised institutin r
examining bard may als be accredited, subject t satisfactry
articulatin arrangements.
who is this hAndbook intEndEd foR?
The Exemption accreditation handbook is primarily intended as a
surce f infrmatin fr curse leaders f educatinal prgrammes
fr which accreditatin is already held, r is being sught.
The handbk may als prvide useful infrmatin fr ther
parties, such as departmental heads, student advisers, and anyne
with an interest in ACCAs accreditatin and exemptin guidelines.
whAt ARE thE bEnEfits of ACCREditAtion?
Exemptin accreditatin f yur prgrammes ensures that
students registering with ACCA will receive a level f exemptin
which matches the knwledge and skills gained frm their
previus qualificatin.
Yur students will benefit frm knwing which mdule chices
will lead t maximum exemptin frm ACCAs examinatins, and
will be assured f receiving the apprpriate level f exemptin
immediately upn registratin with ACCA.
Exemptin accreditatin by the largest, fastest grwinginternatinal accunting bdy will als prvide yu with the
pprtunity t attract mre students wh wish t pursue a
prfessinal accuntancy qualificatin n cmpletin f their
academic studies by prviding them with an accelerated rute t
ACCA membership.
who dEAls with ACCREditAtion issuEs within ACCA?
te accrea ea
Exemptin accreditatin is a functin f ACCAs learning
directrate. The exemptin accreditatin team frms part f
the educatin recgnitin and accreditatin department, and is
respnsible fr:
frmulatin and disseminatin f ACCAs glbal entry and
exemptin infrmatin benchmarking f glbal educatin systems t ensure
cnsistency and fairness in the applicatin f ACCAs entry
requirements and exemptin awards
develpment f ACCAs accreditatin regulatins and criteria
(including syllabus, exams and prgramme standards), which
gvern the accreditatin f relevant educatinal prgrammes.
assessment f exemptin accreditatin applicatins frmeducatinal institutins
prvisin f advice t institutins seeking exemptin
accreditatin f new prgrammes and accredited institutins
seeking further exemptin
review f all prgramme changes within exemptin accredited
prgrammes and maintenance f ACCAs exemptin databases
review f the perfrmance f ACCAs exemptin plicy and
prgramme exemptin accreditatin assessments t maintain
apprpriate levels f exemptins being awarded.
why doEs ACCA AwARd ExEmPtion?
There are several rutes t ACCA membership and many students
undertake prir learning which is equivalent t ACCA papers.Where apprpriate, ACCA wishes t ensure that students entry
pints match the knwledge and skills they have acquired frm
their previus qualificatins and, in ding s, we aim t prvide
students with the quickest pssible rute t membership.
whAt lEvEl of ExEmPtion CAn ACCA AwARd?
ACCA Qaca
Exemptin frm all nine papers at the Fundamentals level can be
cnsidered (see Appendix Qualificatin standard, equivalence
and recgnitin). N exemptin is awarded frm any paper at the
Prfessinal level.
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5ACCREditAtion hAndbook
L exemption and aCCreditation
intRoduCtoRy CERtifiCAtE in finAnCiAl And mAnAgEmEnt
ACCounting
FA1, Recrding Financial Transactins
MA1, Management Infrmatin
intERmEdiAtE CERtifiCAtE in finAnCiAl And mAnAgEmEnt
ACCounting
FA2, Maintaining Financial Recrds
MA2, Managing Csts and Finances
diPlomA in ACCounting And businEss
FAB, Accuntant in Business
FMA, Management Accunting
FFA, Financial Accunting
CERtifiEd ACCounting tEChniCiAn (CAt) oPtions PAPERs
FTX, Fundatins in Taxatin
FFM, Fundatins in Financial Management
FAU, Fundatins in Audit
EXEMPTIoN AND ACCREDITATIoN
fa Accac (fiA)
Exemptin accreditatin can be cnsidered frm all qualificatins
within the FIA suite f awards, depending n the standard and
equivalence f the qualificatin.
NoTE: Whilst exemptin frm the FIA suite f awards is
available, this handbk deals nly with the plicies and
prcedures emplyed in the award f exemptin frm the ACCA
Qualificatin. Any institutin wishing t apply fr accreditatin
f a prgramme specifically in respect f the FIA suite f awards
shuld cntact the accreditatin team fr further infrmatin.
P-prea qaca
Exemptin is nt awarded frm the fllwing pst-prfessinal
qualificatins:
Diplma in Financial Management (DipFM)
Diplma in Internatinal Financial Reprting (DipIFR)
Certificate in Internatinal Financial Reprting
Certificate in Internatinal Auditing.
whAt ARE thE kEy Points of ACCAs ExEmPtion
PoliCy?
An exemptin will nly be awarded when ACCA is cmpletely
satisfied that it matches a students prir learning, and will
ensure that the student has an equivalent level f knwledge
t students wh have cmpleted the same paper f the ACCA
Qualificatin by examinatin.
The key pints f ACCAs exemptin regulatins, which allw us
t fulfil these requirements, are:
Exemptin is nly awarded n the basis f qualificatins, and
cannt be cnsidered n the basis f wrk experience
Exemptin is nly awarded n the basis f qualificatins which
cntain relevant cntent t papers at the Fundamental level f
the ACCA Qualificatin
T preserve the wnership f the ACCA Qualificatin and
ensure that all students share a cmmn experience, n
exemptins are awarded frm the Prfessinal level.
who dEAls with ExEmPtion issuEs within ACCA?
The prcess f awarding exemptins t students is a functin f
ACCAs Service Delivery directrate.
ACCA Connect
ACCA Connect, ur glbal custmer services centre, is a functin
f service delivery cntact, and is respnsible fr handling all
cntact via telephne r email relating t student exemptins.
operaa eer
Admissins is a functin f peratinal delivery. The admissins
department is respnsible fr fr prcessing all student
applicatins, which includes awarding exemptins.
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Hw des ACCA assess fr exemptin accreditatin? 8
Hw much f ACCAs syllabus needs t be cvered, and can this be spread acrss
a range f mdules? 8
Are there any restrictins n curse duratin fr the award f exemptin? 8
What des ACCA lk fr when reviewing a prgrammes assessments? 8
What criteria des ACCA use t assess the cmparability f examinatins? 8
Can ACCA cnsider assessments ther than examinatins fr exemptin? 9
Hw des ACCA assess mdules which are based n natinal laws and accunting standards? 9
assessment
for
exemption
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how doEs ACCA AssEss foR ExEmPtion
ACCREditAtion?
As a member bdy f IFAC (the Internatinal Federatin
f Accuntants), ACCA is required t meet specificbenchmarks in the preparatin and cntinual develpment f
prfessinal accuntants.
ACCA is required t cmply with IFACs Internatinal Educatin
Standards, which include prvisins fr entry requirements,
prgramme cntent and assessment methds.
We must ensure, therefre, that accreditatin is awarded nly
t prgrammes whse syllabus and assessments are clsely
matched t ACCAs.
In rder t assess fr exemptin frm the ACCA Qualificatin, the
accreditatin team reviews the syllabus cntent and assessmentmethds fr each mdule that cntains relevance t any paper at
the Fundamentals level.
NoTE:ACCA can award up t the first fur papers f the Fundamentals
level as a set award in accrdance with ur exemptin framewrk
(see Appendix ACCAs exemptin framewrk). The remaining
papers at ACCAs Fundamentals level are assessed n a paper-
fr-paper basis up t a maximum f nine papers (see Appendix
Qualificatin standard, equivalence and recgnitin).
how muCh of ACCAs syllAbus nEEds to bE CovEREd,
And CAn this bE sPREAd ACRoss A RAngE of modulEs?
The minimum recmmended level f cmparable syllabus fr an
individual mdule r grup f mdules being cnsidered twardsexemptin frm a particular ACCA paper is 80%.
Where exemptin is t be awarded n the basis f an individual
mdule, that mdule will nrmally be dedicated t the subject
area f ne ACCA paper.
Where an individual mdule addresses tpics frm a cmbinatin
f ACCA papers, exemptin frm multiple papers will be
cnsidered prviding the subject areas f the ACCA papers
being cnsidered are als addressed in additinal mdules, and
the mdule cmbinatin meets the syllabus and assessment
requirements fr thse ACCA papers.
ARE thERE Any REstRiCtions on CouRsE duRAtion
foR thE AwARd of ExEmPtion?
Learning hurs describes the length f learning time estimated
n average t achieve specified learning utcmes. This includes
independent and directed study as well as direct teaching time.
The minimum recmmended number f learning hurs is 350 per
ACCA paper. These hurs may be cvered within ne mdule, r
within a cmbinatin f mdules.
Infrmatin n recmmended learning hurs is prvided as a
guide fr defining a cmparable level f learning t an ACCA
paper. Althugh this criteria is nt cmpulsry fr the exemptin
accreditatin assessment, a cmparable number f learning hursis expected.
assessment for exemption aCCreditation
whAt doEs ACCA look foR whEn REviEwing A
PRogRAmmEs AssEssmEnts?
The assessments fr any individual mdule r grup f mdules
being cnsidered twards exemptin frm a particular ACCApaper will be reviewed t ensure that:
the balance f practice and thery is apprpriate t the ACCA
paper being cnsidered
the style and standard f examinatin questins and any ther
relevant assessment methd is cmparable t the ACCA paper
being cnsidered
significant areas f the syllabus and all cre ACCA examinatin
tpic areas are cvered
the structure f the examinatin paper and any ther relevant
assessment methd des nt allw cre ACCA examinatin
tpic areas t be avided
the mark allcatin fr individual examinatin questins is
cmparable t the ACCA paper being cnsidered.
whAt CRitERiA doEs ACCA usE to AssEss thE
ComPARAbility of ExAminAtions?
Exemptin frm individual ACCA papers will nrmally nly be
cnsidered n the basis f mdules which are assessed by means
f examinatin.
Examinatins which are acceptable fr accreditatin purpses are
thse which fulfil the fllwing criteria:
Clsed-bk, unless taken in the final year f a Bachelr
degree, r as part f a pstgraduate level qualificatin
Final mdule examinatins.
In rder fr exemptin frm a particular ACCA paper t becnsidered, the examinatins fr an individual mdule r grup f
mdules must meet the fllwing requirements:
Eaa ra
The number f hurs examinatin cverage must be at least
equivalent t the ACCA paper being cnsidered (tw hurs fr
papers within the Knwledge mdule and three hurs fr papers
within the Skills mdule) with n individual examinatin being
less than ne and a half hurs in length. This can be fr ne
mdule r a cmbinatin f mdules.
Cr a e ar
Acceptable examinatins must cntribute at least 50% f thettal mdule marks available fr each mdule being cnsidered
twards exemptin frm a particular ACCA examinatin.
se a aar
The style and standard f questins in each examinatin must be
cmparable t the ACCA paper being cnsidered.
Fr cnsideratin f exemptin frm any ACCA paper at the Skills
level, we specify that n mre than 20% f the ttal examinatin
marks available fr an individual mdule r grup f mdules
shuld result frm MCQs within the examinatins.
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L assessment for exemption aCCreditation
CAn ACCA ConsidER AssEssmEnts othER thAn
ExAminAtions foR ExEmPtion?
Where the examinatin elements fr an individual mdule r
grup f mdules being cnsidered twards exemptin frm aparticular ACCA paper d nt meet these requirements, ther
frms f assessment such as essays, reprts, presentatins, case-
studies, class tests, ral examinatins, etc. will be cnsidered at
the discretin f the accreditatin team. Assessments undertaken
as grup wrk cannt be cnsidered fr exemptin purpses.
how doEs ACCA AssEss modulEs whiCh ARE bAsEd on
nAtionAl lAws And ACCounting stAndARds?
As a glbal rganisatin, ACCA cmbines its internatinal scpe
with cnsideratin f lcal laws and prcedures thrugh the
availability f tax and law variants and adapted papers within the
ACCA Qualificatin.
ta a a ara
In a number f cuntries, students have the pprtunity f
taking exams based n natinal tax and law referred t as
variant papers.
Where a natinal variant exists, the accreditatin team will
assess individual mdules fr exemptin frm papers F4 and F6
against the syllabus f the relevant natinal variant paper. Where
n natinal variant exists, the accreditatin team will assess the
mdule against the mst apprpriate versin f papers F4 and F6.
Acc a a aar
Students have the ptin f taking the accunting and auditing
papers based n internatinal standards r UK standards, and frthe ACCA Qualificatin als have the ptin f taking the papers
based n natinal standards in certain cuntries. These papers
have been adapted fr natinal accuntancy practices.
Where an adapted natinal standard exists, the accreditatin
team will assess individual mdules fr exemptin frm papers
F3, F7 and F8 against the syllabus f the relevant adapted paper.
Infrmatin n the current list f tax and law variants and
adapted natinal standards is available at
.accaa.c/e/ea/ara
NoTE: Please nte that, whilst eligibility fr exemptin will be
assessed against the mst relevant variant r adapted natinalstandard, exemptin will be awarded against the students
chsen variant r adapted paper.
ASSESSMENT FoR EXEMPTIoN ACCREDITATIoN
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Hw d I make an exemptin accreditatin applicatin? 12
What supprting dcumentatin is required? 12
What else des ACCA need t knw 12
What happens after I have submitted an applicatin fr accreditatin? 13
Hw will ACCA exemptin accreditatin be advertised t students? 13
Hw will ACCA keep my exemptin accreditatin infrmatin up t date? 13
exemption
aCCreditation
appLiCations
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aCCreditation appLiCations
how do i mAkE An ExEmPtion ACCREditAtion
APPliCAtion?
ACCA ffers an nline applicatin service fr accreditatin at
.accaa.c and clicking n myACCA. This servicecan be used by any recgnised institutin (see Appendix
Qualificatin standard and equivalence).
Lgin details are required t access the nline accreditatin
service. If yu have nt previusly been issued with a lgin, yu
can request ne by sending an email t [email protected].
Please nte that requests fr lgins frm new institutin cntacts
will be subject t verificatin.
The nline service is fast and efficient, des nt invlve
paperwrk and gives instant access t a range f exemptin
services. The benefits f submitting an applicatin nline include:
Making new accreditatin applicatins and tracking theprgress f yur existing applicatins
Uplad supprting dcumentatin direct frm yur cmputer
The ability t review current accreditatin levels fr any ther
prgramme yu have accredited
Update existing accredited prgrammes
Keep ACCA up t date with any change yur institutin/
prgramme cntact details
Access a hst f infrmatin fr learning prviders including
plicies, latest news and useful resurces.
Supprting dcumentatin may als be submitted
thrugh any f ur natinal ffices (full details available at
.accaa.c), which will then be frwarded t the
accreditatin team in Glasgw. Dcumentatin submitted thrughur natinal ffices must be supprted by an nline applicatin
reference number.
whAt suPPoRting doCumEntAtion is REQuiREd?
In rder t cmplete the assessment, the accreditatin team must
receive the fllwing supprting dcumentatin:
Detailed prgramme structure, including full list f ptins and
elective papers
Syllabus details fr all mdules with relevance t any paper at
ACCAs Fundamentals level
Pilt/live examinatin papers fr all mdules with relevance t
any paper at the Fundamentals level
Cpy f the prgramme regulatins Where apprpriate, a cpy f the articulatin/franchise
agreement between the awarding bdy, and the educatinal
institutin that is delivering the prgramme.
whAt ElsE doEs ACCA nEEd to know?
Prrae eaer
We require cntact details fr the prgramme leader, r the
member f staff respnsible fr submitting the applicatin.
This ensures that if we require any further infrmatin, r
clarificatin f any issues, the exemptin accreditatin team can
cntact yu immediately.
dae r raae
It is imprtant that yu advise us f the date f the first graduates
fr which the assessment is t be applied. We als need t knw
if the students f the same chrt will all graduate at the sametime. This is imprtant infrmatin as it allws ur exemptin
assessment t accmmdate any students that wuld therwise
miss ut n their exemptin entitlement if alternative graduatin
dates were nt given cnsideratin. Please nte that assessment
decisins cannt be applied retrspectively t past graduates.
Per prrae aa
Where pssible, ACCA attempts t link accreditatin dates t the
internal validatin perid set by yur institutin. This ensures that
ur accreditatin extends t the full perid fr which graduates
are due t emerge frm the prgramme and that ur future
assessment cincides with yur institutins internal re-validatin.
ACCA will nrmally award exemptin accreditatin fr a perid
cvering up t a maximum f five years r until the date f the
next specified re-validatin exercise (whichever is sner). In rder
t extend exemptin accreditatin beynd the maximum five year
perid, we will request that yu re-submit yur prgrammes fr
a new assessment, regardless f whether r nt there have been
majr changes t the prgramme. This ensures that ur exemptin
infrmatin remains as up t date and as relevant as pssible and
takes int accunt changes in ACCAs syllabus and exemptin
plicies, as well as changes t yur prgramme.
Pa ar
ACCA recgnises the mdule pass marks set by the institutin fr
the purpses f accreditatin.
In rder that exemptins are crrectly prcessed against students
recrds at the time f their registratin, it is imprtant that yu
advise us f the grades r cdes used t describe a mdule pass
n a students academic transcript.
ACCA cannt award exemptin n the basis f a cndned
r cmpensated pass in any mdule that is specified as a
requirement fr exemptin frm an ACCA paper. This relates t
thse ccasins where:
a student is awarded a mdule pass even thugh the
prgramme requirements fr a pass have nt been satisfied
a cmpensated pass has been awarded as a result f theverall strength f a students perfrmance.
ACCA understands that students marks may be cmpensated
between the assessment elements f a mdule accrding the
institutins wn regulatins. In rder fr exemptin t be awarded
the verall pass mark must be achieved fr each mdule that
entitles the student t exemptin frm individual ACCA papers.
Where duble-unit mdules are in use within a prgramme,
institutins shuld be aware that the assessments fr each unit
f a duble mdule specified fr exemptin must be passed
individually. Where this is nt indicated n the fficial academic
transcript, students may be required t prvide a letter frm
the institutin cnfirming that the verall pass mark has beenachieved in each unit.
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L aCCreditation appLiCations
me c a e ae pe prrae
ACCA can award exemptin frm individual ACCA papers based
n an individual mdule r a grup f mdules. If students f
prgrammes ther than thse initially submitted fr exemptinaccreditatin assessment are able t take the same mdule
cmbinatins as the assessed prgramme, they may als be able
t benefit frm these exemptins.
Shuld any individual mdules r mdule cmbinatins within
yur submitted prgramme als be available t students as part
f anther academic prgramme, please advise us at the time f
submitting yur applicatin.
whAt hAPPEns AftER i hAvE submittEd An
APPliCAtion foR ACCREditAtion?
The accreditatin team will make a preliminary assessment f the
materials submitted, and will cntact yu t request any furtherinfrmatin if required.
A full assessment utcme will be cmmunicated t yu
within fur t six weeks f receipt f all f the requested
submissin infrmatin. If there is any expected delay t the
utcme, a member f the exemptin accreditatin team will
advise yu in advance.
Shuld yu wish clarificatin n any aspect f the utcme, yu
may cntact a member f the accreditatin team using the ACCA
cntact details prvided in the handbk.
how will ACCA ExEmPtion ACCREditAtion bE
AdvERtisEd to studEnts?outcmes fr all assessments are made available n ur nline
exemptin enquiry database at .accaa.c
This is a useful tl which enables prspective ACCA students t
view the exemptins they will be entitled t upn registratin, r
t plan their future mdule chices t maximise their exemptins.
As an institutin, yu may als find it useful t keep track f the
level f exemptin currently awarded t all f yur accredited
prgrammes thrugh the exemptin database.
how will ACCA kEEP my ExEmPtion ACCREditAtion
infoRmAtion uP to dAtE?As ACCAs cntact fr yur institutin, yu have the respnsibility
f keeping ACCA up t date with any significant prgramme
changes. Infrming us f these will ensure that yur graduates
registering with ACCA receive apprpriate recgnitin fr their
prir learning and that they have exemptins awarded accurately
and withut delay.
ACCA cnducts an annual accreditatin exercise yearly, which
requires cntacts t prvide us with an update regarding their
accredited prgrammes. Participatin in this exercise is crucial t
the cntinued accreditatin f yur prgrammes, and ACCA will
cntact yu in advance f expiry f yur accreditatin perid t
request updated infrmatin.
It is imprtant t ensure that all changes are recrded as part f
the annual accreditatin exercise, including (but nt restricted t)
changes t:
mdule cntent assessment methds, style r weighting
mdule titles r cdes
institutin regulatins
frmat and cntent f academic transcripts.
Failure t infrm ACCA f any f the abve changes may result in
students being refused exemptin upn registratin with ACCA.
The mst efficient methd f prviding yur update is by lgging
in t the nline accreditatin service via myACCA, which yu
will be asked t d as part f the annual accreditatin exercise.
If yu require lgin details r if yu wish t keep us updated
by ther means, the accreditatin team can be cntacted [email protected]
ACCREDITATIoN APPLICATIoNS
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Intrductin t recgnitin 16
What are the benefits f prviding recgnitin infrmatin? 16
Abut ACCA 16
ACCA qualificatins structure 16
ACCA Qualificatin 17
CAT qualificatin 18
Diplma in Financial Management (DipFM) 19
Diplima in Internatinal Financial Reprting (DipIFR) 19
Hw can I let ACCA knw what recgnitin we award? 19
Hw will ACCA cmmunicate the recgnitin infrmatin? 19
reCognition
of aCCa
quaLifiCations
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intRoduCtion to RECognition
ACCA receives high numbers f enquiries frm ur
members and students regarding their ptins fr further
r cmplimentary studies pst-qualificatin and, as a
result f this high demand, ACCA encurages educatinal
institutins t prvide infrmatin n the level f entry
and exemptin that is available t ACCA members and
students, and CAT graduates and students frm their
undergraduate and pstgraduate prgrammes f study.
whAt ARE thE bEnEfits of PRoviding
RECognition infoRmAtion?
Full details f the recgnitin infrmatin yu prvide willbe made available t all ACCA members and students,
giving yu the pprtunity t attract mre students wh
wish t pursue academic studies.
About ACCA
ACCA (the Assciatin f Chartered Certified Accuntants)
is a prfessinal accuntancy bdy whse Cuncil is
respnsible under its UK Ryal Charter t the UK Privy
Cuncil. Under the UK Cmpanies Act, ACCA is als
respnsible t the UK Prfessinal oversight Bard (PoB)
fr the qualificatin and regulatin f statutry auditrs.
ACCA is the glbal bdy fr prfessinal accuntants. We
aim t ffer business-relevant, first-chice qualificatins
t peple f applicatin, ability and ambitin arund the
wrld wh seek a rewarding career in accuntancy, finance
and management.
We supprt ur 140,000 members and 404,000
students thrughut their careers, prviding services
thrugh a netwrk f 83 ffices and active centres. our
glbal infrastructure means that exams and supprt are
delivered and reputatin and influence develped at a
lcal level, directly benefiting stakehlders wherever they
are based, r plan t mve t, in pursuit f new career
pprtunities. our fcus is n prfessinal values, ethics
and gvernance, and we deliver value-added servicesthrugh 57 glbal accuntancy partnerships, wrking
clsely with multinatinal and small entities t prmte
glbal standards and supprt.
We use ur expertise and experience t wrk with
gvernments, dnr agencies and prfessinal bdies such
as the Internatinal Federatin f Accuntants (IFAC) t
develp the glbal accuntancy prfessin and t advance
the public interest.
our reputatin is grunded in ver 100 years f prviding
wrld-class accunting and finance qualificatins. We
champin pprtunity, innvatin, diversity, integrity
and accuntability. By prmting ur glbal standards,
ACCA QuAlifiCAtions stRuCtuRE
Prea lee
3 years practical experience
gained befre, during
r after exams
ACCA QuAlifiCAtion
faea lee
Skills Mdule
2 A Levels and 3 GCSEs
r equivalent
Prea Ec
me
(ca e ae a a e
e cpe e
Prea lee)
faea lee
Knwledge Mdule
reCognition of aCCa and Cat
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and supprting ur members wherever they wrk,
we aim t meet the current and future needs f
internatinal business.
ACCA understands the real issues facing small businesses
as 63,000 f ur members wrk in SMEs r small
partnerships wrldwide. ACCAs theme fr 20092010
is Accuntants fr Business. This theme emphasises the
imprtant rles accuntants play in bth the private and
public sectrs, prmting their rle as advcates f sund
business practises, champins f sustainable business
develpment and identifiers f value drivers which lead t
high-perfrming rganisatins.
ACCA QuAlifiCAtion
The ACCA Qualificatin is designed t prvide the
accunting knwledge, skills and prfessinal values
which will deliver finance prfessinals wh are capable
f building successful careers acrss all sectrs, whether
they are wrking in the public r private sectrs, practising
in accunting firms, r pursuing a career in business.
After cmpleting the prfessinal exams, affiliates shuld
be capable f:
preparing and analysing financial accunts and reprts,
and giving apprpriate prfessinal advice
preparing and analysing management accuntingreprts, measuring, assessing and managing
perfrmance giving apprpriate prfessinal advice
understanding the implicatins fr and cnstraints n
accuntants and managers impsed by crprate and
business law
preparing tax cmputatins and giving prfessinal
advice n a range f taxatin issues with regards t
persnal and crprate taxatin
recgnising the rle f internal and external auditing
with respect t financial review, cntrl, accuntability,
and assurance
applying financial management thery and techniques
in the interests f sustainable and respnsible value
creatin, and giving apprpriate prfessinal advice n
financing, investment, and distributin
managing the strategic directin f an rganisatin and
supprting business strategy thrugh implementing
business prcess change by applying apprpriate
prject, systems, and peple management techniques
and theries
and
appreciating that an accuntant must embrace
and adhere t a set f prfessinal values and
behave within an ethical framewrk, shwing
respnsibility t stakehlders thrugh perating within
an effective system f gvernance, internal cntrl, and
risk management.
ComPlEmEntARy diPlomAs
dpa faca maaee (dpfm)
dpa ieraa faca Repr (dpifR)
CAt ircr lee
N frmal qualificatins
required
CAt QuAlifiCAtion
1 years practical experience
gained befre, during
r after exams
CAt fa lee
CAt iereae lee
L reCognition of aCCa and Cat
RECoGNITIoN oF ACCA AND CAT
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The exams are divided int tw levels Fundamentals and
Prfessinal.
faea
kee
F1 The Accuntant in Business AB
F2 Management Accunting MA
F3 Financial Accunting FA
s
F4 Crprate and Business Law CL
F5 Perfrmance Management PM
F6 Taxatin TX
F7 Financial Reprting FR
F8 Audit and Assurance AA
F9 Financial Management FM
Prea
Eea
P1 Prfessinal Accuntant PA
P2 Crprate Reprting CR
P3 Business Analysis BA
op
P4 Advanced Financial Management AFM
P5 Advanced Perfrmance Management APM
P6 Advanced Taxatin ATA
P7 Advanced Audit and Assurance AAA
The faea level is divided int tw mdules Knwledge and Skills. The Knwledge mdule intrduces
students t the cre areas f financial and management
accunting. This prvides the platfrm frm which the ther
technical accuntancy areas will be studied in greater detail
in the Skills mdule. The Skills mdule cntains six subjects
which cmprehensively cver the main technical areas that
any accuntant regardless f their future career aspiratins
are expected t have mastered. These cmprise law,
perfrmance management, taxatin, financial reprting, auditing,
and financial management.
The Prea level is divided int tw mdules Essentials
and optins. Bth mdules have been set at an intellectuallevel equivalent t that expected f a student taking a Masters
degree. The fcus f the syllabus at this level is t build upn
the technical skills already acquired, and explre mre advanced
prfessinal skills, techniques, and values that are required
and used by the expert accuntant acting in an advisry r
cnsultancy rle at a senir level. All students must cmplete
the three papers in the Essentials mdule. The optins mdule
cntains fur papers. These are directly underpinned and
supprted by their equivalent within the Skills mdule in the
Fundamentals level. These exams assess the mre advanced
and sphisticated techniques that a prfessinal needs in rder
t specialise in specific areas at wrk, r t fllw as a career
pathway in an advisry r cnsultancy rle. Students select tw
ut f fur optin papers and are advised t chse the ptins
that relate t their chsen r anticipated field f wrk.
Full syllabus details and examinatin papers are available at
.accaa.c/e/acca
CAt QuAlifiCAtion
The CAT Qualificatin cmprises a cmbinatin f exams and
practical experience. It is designed t equip students with all
the necessary technical skills and knwledge required t fulfil
an accunting rle t technician level. It als prvides a firm
fundatin f knwledge and the pprtunity t fast track
twards becming a prfessinal ACCA accuntant.
T achieve CAT status students need t cmplete a set fexams and ne years practical experience in the wrkplace.
The CAT Qualificatin has a range f internatinally relevant
syllabus ptins and the chice f distance learning, face-t-face
r self study. The qualificatin is ideally suited t thse wh are
keen t prgress their careers while maintaining a manageable
wrk-life balance.
There are nine papers in ttal t cmplete including tw ut f
three ptin papers at Advanced level.
The practical experience element cnsists f at least ne years
relevant supervised wrk experience, which can be cmpleted in
any size r type f business, and in any cmbinatin f sectrs,
befre, during r after cmpleting the exams.
Full syllabus details and examinatin papers are available at
.accaa.c/e/ca/ea
ircr ee
1 Recrding Financial Transactins
2 Infrmatin and Management Cntrl
iereae ee
3 Maintaining Financial Recrds
4 Accunting fr Csts
Aace ee
5 Managing Peple and Systems
6 Drafting Financial Statements
7 Planning, Cntrl and Perfrmance Management
8 Implementing Audit Prcedures
9 Preparing Taxatin Cmputatins
10 Managing Finances
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diPlomA in finAnCiAl mAnAgEmEnt (diPfm)
Unlike many financial awareness curses, the Diplma aims t
achieve a level f practical understanding that is genuinely useful
in the wrkplace. Managers are increasingly respnsible frmanaging their wn prfit centrers and therefre need a similar
level f financial understanding t the qualified accuntants
within the business. The ACCA Diplma develps this with
a brad range f tpics which enable managers nt nly t
understand financial infrmatin but als link it t brader
strategic decisins.
diPlomA in intERnAtionAl finAnCiAl REPoRting
(diPifR)
T prvide qualified accuntants r graduates, pssessing
relevant cuntry specific qualificatins r wrk experience
with an up-t-date and relevant cnversin curse, prviding a
practial and detailed knwledge f the key internatinal financialreprting standards and hw they are interreted and applied.
Fr mre infrmatin n each f the ACCA Diplmas, please visit
the ACCA website.
how CAn i lEt ACCA know whAt RECognition wE
AwARd?
Please visit the Learning Prviders Recgnitin sectin f the
ACCA website, which will prvide full details n hw t submit
this infrmatin t ACCA, r email [email protected]
how will ACCA CommuniCAtE thE RECognition
infoRmAtion?
ACCA will display recgnitin infrmatin, fr all educatinalinstitutins, thrugh the main ACCA website.
RECoGNITIoN oF ACCA AND CAT
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Qualificatin standard and equivalence 22
ACCAs exemptin framewrk 22
Frequently asked questins 24
Glssary 25
appendiCes
21
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QuAlifiCAtion stAndARd And EQuivAlEnCE
ACCA eqaece
The Fundamentals level f the ACCA Qualificatin, plus a
research prject, has been credit rated at 360 CAT (CreditAccumulatin Transfer) pints by oxfrd Brkes University and
is, therefre, deemed t be equivalent t a UK hnurs degree.
The examinatins at the Prfessinal level f the ACCA
Qualificatin are set t a standard cmparable t that required in
the final examinatin f a UK masters degree.
Qaca aar
In setting levels f exemptin frm ACCAs examinatins, the
accreditatin team cnsiders the equivalence f the ACCA
Qualificatin tgether with independent cmparability advice n
the standard f qualificatins.
ACCA uses UK NARIC, an internatinally recgnised equivalence
agency, t cmpare the standard f qualificatins wrldwide t
the ACCA Qualificatin.
ACCA uses this independent infrmatin t determine the
maximum levels f exemptin which we can apply t different
qualificatins frm arund the wrld.
The table belw shws the maximum exemptin which can
be cnsidered fr qualificatins which fall within each level f
UK equivalence:
appendiCes
Exemptins can be cnsidered n the basis f qualificatins
btained frm private sectr institutins prviding that:
the institutin has been accredited by the Ministry f
Educatin t award the level f qualificatin being assessed;r
the prgramme t be assessed has been validated by, r
franchised frm, a recgnised institutin r examining bard.
ACCAs ExEmPtion fRAmEwoRk
wa e eep raer?
The exemptin framewrk enables ACCA t apply an apprpriate
level f exemptin t specific qualificatin types, which have nt
been accredited.
ACCA has used the independent equivalency advice prvided by
UK NARIC t create fur discrete exemptin levels which can be
defined as fllws:
Eep ee uk eqaece
Entry University matriculatin
Exemptin level 1 Year 1 f a degree
Exemptin level 2 Year 2 f a degree
Exemptin level 3 Final year f a degree
Specific examples f the natinal qualificatins included within
each exemptin level can be accessed thrugh ur nline
exemptin enquiry database at .accaa.c
A student wh has cmpleted a prgramme which has nt
been accredited by ACCA can still be awarded exemptins up
t a maximum f the first fur papers f the ACCA Qualificatinn the basis f full cmpletin f their prgramme f study.
Shuld the institutin have prgrammes with accredited mdules
fr a students graduate year, exemptin frm further papers may
be available.
When ACCA receives an exemptin accreditatin applicatin
frm an institutin, an apprpriate level f exemptin is awarded
autmatically in accrdance with the exemptin framewrk. The
accreditatin team then assess fr additinal papers, depending
which level the qualificatin falls int, using the criteria described
in Sectin 3.
uk EQuivAlEnCE of QuAlifiCAtion mAximum ExEmPtion gAinEd
Final year f a degree Papers F1 t F9
Year 2 f a degree Papers F1 t F6
Year 1 f a degree Papers F1 t F3
University matriculatin Registratin nly
Rec
ACCA nly awards exemptin n the basis f qualificatins gained
frm recgnised institutins. The World of learning reference text
is utilised t verify the recgnitin status f each institutin.
Where an institutin is nt listed in ACCAs reference texts, thefllwing infrmatin must be supplied:
Cnfirmatin f the institutins status frm the lcal
Ministry f Educatin, cnfirming that it is recgnised as a
public sectr institutin (r its equivalent status under their
regulatins); and
Cnfirmatin f the level f qualificatins the institutin is
authrised t award.
Please be aware that ACCA reserves the right t refuse t accredit
prgrammes r t award exemptin n the basis f prgrammes
cnducted by educatinal establishments regardless f their
recgnitin status at its wn discretin.
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L appendiCes
Exemptin level 3Can be assessed fr all additinal papers at the
Fundamentals level.
Exemptin level 2
Can be assessed fr all additinal papers up t and including F6.
Exemptin level 1
Can be assessed fr all additinal papers up t and including F3.
Entry level
Can be cnsidered fr registratin nly.
wc jec area qaca r prrae e
ee a?
ACCA has undertaken extensive research t categrise the mst
cmmn qualificatin titles within the qualificatin types utlined
abve. Full lists and subject titles within each subject area can be
accessed thrugh the nline exemptin enquiry database.
These lists will be updated n an nging basis t ensure that all
relevant qualificatin subject titles are crrectly categrised under
each subject area.
ACCA are aware that qualificatin subject titles and cntent
can differ between cuntries. The accreditatin team wrks
clsely with ACCAs natinal ffices, therefre, t ensure that
all natinal qualificatins are crrectly categrised within theexemptin framewrk.
tyPE of QuAlifiCAtion ExEmPtion lEvEl 3 ExEmPtion lEvEl 2 ExEmPtion lEvEl 1 EntRy lEvEl
Accunting majr F1 F4 F1 F4 F1 F3 Reg n exemptins
Accunting jint/minr F1 F3 F1 F3 F1 Reg n exemptins
Finance F1 F3 F1 F3 F1 Reg n exemptins
General business and management F1 F1 F1 Reg n exemptins
Law F4 F4 Reg n exemptins Reg n exemptins
Nn relevant Reg n exemptins Reg n exemptins Reg n exemptins Reg n exemptins
MBA F1 F3 F1 F3 N/A N/A
wa e e eep raer e?
APPENDICES
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24
fREQuEntly AskEd QuEstions
h e ae cc a aee?
The accreditatin team will aim t prvide yu with a full utcme
within fur t six weeks f receipt f all f the necessary
dcumentatin. If any delay is expected, a member f the
accreditatin team will advise yu f this at the earliest pprtunity.
w cc e aee r prrae?
The accreditatin team is based in ur Glasgw ffice and is
respnsible fr the assessment and accreditatin f qualificatins
fr exemptin.
Ca e appea aa e ce e aee?The accreditatin team will prvide yu with an explanatin if any
f the papers fr which yu have applied fr exemptin cannt
be awarded. Hwever, if yu believe that relevant infrmatin has
nt been taken int accunt in ur assessment, please cntact
the accreditatin team.
we ae a e prrae c e e
r accrea, e eaa paper ca e
reeae e ae ee ae e. Ca e
app r accrea?
We can accept pilt examinatin papers fr accreditatin purpses.
If pilt papers are used fr the assessment, we wuld require a
cpy f the live papers, nce taken, fr an infrmal review.
If pilt papers cannt be supplied, we can prvide yu with a
prvisinal utcme based n ut assessment f yur syllabus
details. The exemptin award will nt be cnfirmed until such
time as the live papers are prvided.
d e ae erae a ac eerce ere e
e ce ACCA?
N. The accreditatin team will cnduct the matching exercise
upn receipt f the relevant syllabus details and examinatin
papers. It is therefre vital that the syllabus infrmatinsubmitted is as detailed as pssible.
If the prgramme is very cmplex, r if there is significant
translatin wrk invlved, yu may wish nly t submit details f
the prgramme structure and regulatins in the first instance; the
accreditatin team will then advise yu which mdules yu are
required t prvide syllabus details and exam papers fr in rder
fr the full assessment t be made.
s e a r prrae r accrea?
ACCA welcmes accreditatin applicatins fr all prgrammes
which cntain syllabus cverage f any f ur papers at ACCAs
Fundamentals level.
appendiCes L
h c e c a accrea r r
prrae?
There is n charge t the institutin fr accreditatin fprgrammes. Students are charged a ne-ff fee fr each
exemptin awarded t cver the cst f exemptin administratin.
i pe r a ACCA repreeae c e
accrea prce ?
The accreditatin team can always be cntacted by telephne r
email if yu require clarificatin n specific issues.
Where mre cmplex issues cannt be addressed remtely, a
meeting between a member f the accreditatin team and the
institutin cntact may be requested either by the institutin r
by ACCA. Meetings can be arranged either at yur premises, r at
ur ffices in Glasgw.
Visits t institutins lcated utside the UK will be cnducted by
representatives frm ACCAs natinal ffices where pssible.
we ae a e prrae c e e a
e e rec er e ec a/r r ear. Ca
ee e ee r eep accrea?
Yes. When assessing a prgramme fr exemptin accreditatin,
we take int cnsideratin the entry pints f the prgramme
t ensure that we base the accreditatin at a level where mst
students will benefit. Where this is nt pssible, we can lk at
accrediting prir prgrammes in their wn right, r in cnjunctinwith the upper level prgramme mdules. The accreditatin
team will aim t accmmdate as many graduates as pssible
in establishing the basis fr accreditatin; hwever institutins
shuld be aware that it may nt be pssible t prvide an
utcme fr all pssible cmbinatins.
Ca ACCA ra eep e ae ae ee
aare eep r cre raer r er prr e
?
N. ACCA cannt award exemptins t students wh have
received credit fr studies n the basis f credit transfer r
exemptin granted by the awarding institutin. T meet urregulatry requirements, ACCA must have the assurance f
cnducting the exemptin accreditatin exercise directly against
ur criteria fr exemptin accreditatin t ensure that a students
prir learning matches the knwledge and skills required f the
ACCA Fundamentals level papers.
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L appendiCes
glossARy
Accree e()
A mdule r grup f mdules that has been awardedexemptin accreditatin f an ACCA paper(s) and may be sat by
prgrammes ther than thse that have been accredited
Aape paper
Basic ACCA papers which have been changed t reflect lcal
currency units and relevant accunting r auditing standards
infrmatin n the current list f adapted natinal standards is
available at www.accaglbal.cm/students/exams/variant
Aee
The means by which an individual mdule is assessed
may be examinatin, cursewrk, cntinuus assessment,
grupwrk, etc.
CAt p
Credit Accumulatin Transfer (CAT) is a prcess by which credits
accumulated thrugh the successful cmpletin f units n ne
curse may be transferred at an apprpriate level int anther
curse f study.
Cpeae/Ce pa
Where a student is awarded a passing grade in a mdule n the
basis f the strength f their verall perfrmance, althugh the
usual requirements fr a pass have nt been satisfied
ECts cre
Eurpean Credit Transfer System (ECTS) is a methd that is usedt cmpare the marks given in educatin acrss the Eurpean
Unin. one academic year crrespnds t 60 ECTS-credits in all
cuntries irrespective f standard r qualificatin type and is used
t facilitate transfer and prgressin thrughut the unin.
Eep
Credit award that means that a student is nt required t sit a
particular ACCA examinatin.
Eep accrea
A set level f exemptin awarded t all graduates f a specific
educatinal prgramme, fllwing a full assessment f that
prgrammes regulatins, syllabus cntent and assessments.
Eep raer
The exemptin framewrk enables ACCA t award up t the first
fur papers f the ACCA Qualificatin autmatically n the basis
f certain qualificatins, withut the need fr accreditatin.
ifAC
The Internatinal Federatin f Accuntants
lear r
The length f learning time estimated n average t achieve
specified learning utcmes.
le paper
An examinatin paper that has been taken by students under
examinatin cnditins.
mCQ
Multiple chice questin.
mr Eca
The department f a cuntrys gvernment that is respnsible fr
the regulatin f educatinal qualificatins.
P paper
An examinatin paper which has been prduced t demnstrate
the level at which future examinatins will be set.
Rec ()
The status f an institutin as a public sectr institutin (requivalent) as cnfirmed by the lcal Ministry f Educatin.
Rec (ACCA qaca)
The level f entry and exemptins available t ACCA members
and students frm ther qualificatins.
Reeace
The amunt by which a prgramme r an individual mdule
matches the cntent f ACCAs examinatins.
uk nARiC
The Natinal Academic Recgnitin Infrmatin Centre (UK
NARIC) is the natinal agency under cntract t the UK
Gvernment Department fr Educatin & Skills, and is thefficial surce f infrmatin and advice n the cmparability f
internatinal qualificatins frm ver 180 cuntries wrldwide
with thse in the UK.
The UK NARIC is a member f the Eurpean netwrk f NARICs
thrughut the Eurpean Unin. It is als the UK representative
in a wider peratin f Eurpean Netwrk f Infrmatin Centres
(ENIC) acrss Eurpe, Australia, Canada, New Zealand and USA.
The wrk and the infrmatin n internatinal qualificatins als
falls within the framewrk f UNESCo.
vara paper
Exam papers set by ACCA in accrdance withnatinal law and/r tax systems infrmatin n
the current list f tax and law variants is available at
www.accaglbal.cm/students/exams/variant
wr ear
The World of Learning is published by Eurpa Publicatins, and
is a cmplete directry and guide t rganisatins and institutins
thrughut the entire sphere f higher educatin and learning.
APPENDICES
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tioncontainedinthispublicationisprovidedforgeneralpurpos
esonly.
Whileeveryefforthasbeenmadetoensurethattheinformationisaccurateandupto
imeofgoing
topress,ACCAacceptsnoresponsibilityforanylo
sswhichmayarisefrom
informationcontainedinthispublication.
Nopartofthispublicationmay
ed,
inanyfo
rmat,withoutpriorwrittenpermissionofACCA.
ACCANovember2010.
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