What does Foundations in Accountancy cover?
Foundations in Accountancy is a group of finance and business qualifications.
Which ones are right for you can depend on your previous academic attainment and your experience to date, as well as the particular specialism you are looking to study. However, you don’t need any formal qualifications to get started and you can achieve any or all of the awards – it’s up to you.
Whichever qualification(s) you choose, you will also need to take our Foundations in Professionalism module to gain any one or all the awards. This will give you an understanding of what it means to act professionally and ethically in relation to finance and business.
ACCA Diploma in Financial and Management Accounting (RQF Level 2)
If you are at the very beginning of your financial education, this may be the qualification for you. It’s broadly matched to a GCSE-level qualification or equivalent, and comprises two essential courses:
- FA1 Recording Financial Transactions
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.
- MA1 Management Information
You’ll develop knowledge and understanding of providing basic management information in an organisation to support management in planning and decision-making.
ACCA Diploma in Financial and Management Accounting (RQF Level 3)
This qualification is broadly matched to an AS or A level or equivalent, and comprises two courses:
- FA2 Maintaining Financial Records
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.
- MA2 Managing Costs and Finance
You’ll learn how to prepare, process and present basic cost information to support management in planning and decision-making in a variety of business contexts.
ACCA Diploma in Accounting and Business (RQF Level 4)
This more advanced qualification is broadly matched to an HND level or the first year of a degree programme or equivalent. It comprises three courses, and by completing these you will also be completing the Applied Knowledge level of the full ACCA Qualification:
- FBT Business and Technology
You’ll develop knowledge and understanding of 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 organization, its people and systems.
- FFA Financial Accounting
You’ll develop knowledge and understanding of 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.
- FMA Management Accounting
You’ll develop knowledge and understanding of management accounting techniques to support management in planning, controlling and monitoring performance in a variety of business contexts.
Certified Accounting Technician (CAT) (RQF Level 4)
The CAT Qualification draws together the three FIA diplomas, plus three additional specialist options awards. It gives you a broad platform of financial skills and knowledge as well as allowing you to gain skills to support your target role. You’ll need to complete two out of the three specialist options awards:
- FAU Foundations in Audit
- FTX Foundations in Taxation
- FFM Foundations in Financial Management
To achieve the CAT Qualification, you will also need to evidence a year of practical experience in a relevant finance role and have completed the Foundations in Professionalism module.
Also available as standalone certificates:
- ACCA Certificate in Audit (RQF Level 4)
- ACCA Certificate in Taxation (RQF Level 4)
- ACCA Certificate in Financial Management (RQF Level 4)
Available in Bangladesh and Pakistan: