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ACCA Launches New Suite of Awards: Foundations in Accountancy

KARACHI (January 31, 2011) – ACCA (the Association of Chartered Certified Accountants) has launched Foundations in Accountancy, a new flexible suite of entry-level awards, designed to meet the needs of both students and employers. Foundations in Accountancy was created after detailed consultation with employers, learning providers, members, students and other professional accountancy bodies and regulators.

Foundations in Accountancy provides a solid grounding in financial and management accounting, and includes a module in professionalism and ethical behaviour. The awards include:

– Introductory Certificate in Financial and Management Accounting
– Intermediate Certificate in Financial and Management Accounting
– Diploma in Accounting and Business; and
– Certified Accounting Technician Qualification (CAT) which includes specialist papers and work experience in audit, tax and financial management.

Arif Masud Mirza, Head of ACCA Pakistan says: “With Foundations in Accountancy, students will benefit from the flexible range of entry points, meaning they can begin at the right level for them, and then progress through the awards. And when it comes to flexibility, they can complete qualifications in their own time, selecting those which best suit their own career needs and aspirations.”

Foundations in Accountancy also sees certification awarded at each level, helping students to monitor their progress, and helping employers to recruit and train to meet their own business needs. The practical content means that the knowledge students gain is directly applied to the workplace, offering immediate benefits to existing and prospective employers.

Arif Mirza continues: “Increasingly, employers need to know that they are taking on competent employees in account-support roles, often referred to as an accounting technician role. Employers can be assured that Foundations in Accountancy will train individuals to high standards, and that their training will be recognised all over the world.

“With Foundations in Accountancy, employers can also be assured that candidates have the right professional and ethical skills that are required in the work place in a junior accounting or technician role. The syllabuses span the key elements of financial and management accounting at all levels offered, and also include an Accountant in Business exam at the Diploma level which puts students’ new knowledge into a legal, economic and regulatory context.”

Arif Mirza concludes: “Foundations in Accountancy represents the building blocks of finance because it develops skills and competences tailored to the needs of employers, the public and other key stakeholders.

“But more importantly, professionalism and ethical behaviour is placed at the core of the awards two attributes necessary in the fast moving environment in which the accountancy profession works. Through Foundations in Accountancy, ACCA continues to provide opportunities for talented people, whatever their background or prior learning, to progress to become a professional accountant. With ACCA, students may also acquire a degree en-route to becoming a professional accountant, offered in partnership with Oxford Brookes University – which now has over 10,000 graduates.”

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