acca handbook 2010

7/31/2019 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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4

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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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


17/26


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


18/26

18

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


19/26


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


20/26

20


21/26


Qualificatin standard and equivalence 22

ACCAs exemptin framewrk 22

Frequently asked questins 24

Glssary 25

appendiCes

21


22/26

22

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.


23/26


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


24/26

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.


25/26


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


26/26

tioncontainedinthispublicationisprovidedforgeneralpurpos

esonly.

Whileeveryefforthasbeenmadetoensurethattheinformationisaccurateandupto

imeofgoing

topress,ACCAacceptsnoresponsibilityforanylo

sswhichmayarisefrom

informationcontainedinthispublication.

Nopartofthispublicationmay

ed,

inanyfo

rmat,withoutpriorwrittenpermissionofACCA.

ACCANovember2010.

ACCA2 Central Quay

89 Hydepark Street

Glasgw G3 8BW

acca handbook 2010

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