Foundations in Accountancy

Foundations in Accountancy (FIA) qualifications are suitable for a wide range of people. They’re ideal if you are new to finance or aiming to switch to finance. You could also be already working in finance but have no formal qualifications. Or you might want to gain a better understanding of how finance works in order to progress your career.

FIA is the entry point to a world of opportunity, whether you want to pursue higher qualifications in finance or simply boost your employability and mobility by learning the universal language of business.

How difficult are FIA qualifications and where could they take me?

The FIA group of qualifications provides foundational knowledge in business and finance. As such they are applicable to just about any role in any organisation – because finance is the universal language of business. From understanding a balance sheet and P&L to making sense of project or departmental budgets and costs, FIA will give you the skills and knowledge you need to contribute to decisions and add value whatever business you are in.

However, if you are targeting a career in finance and accounting, FIA qualifications do align with some specific types of accounting roles:

FIA qualification

Academic equivalent

Corresponding role

ACCA Diploma in Financial and Management Accounting (RQF Level 2)

GCSE standard or equivalent

Junior accounts clerk/bookkeeper in a financial and/or cost accounting role

 

ACCA Diploma in Financial and Management Accounting (RQF Level 3)

AS or A level standard or equivalent

Accounts clerk/financial administrator in a financial and/or cost accounting role

 

ACCA Diploma in Accounting and Business (RQF Level 4)

First year of a degree programme or HND standard or equivalent

Trainee accountant or administrator in a financial/cost accounting role. Depending on the options you select, you could also specialise in an audit, tax or financial management-based role.

Certified Accounting Technician (CAT) Qualification

First year of a degree programme or HND standard or equivalent

Trainee accountant or administrator in a financial/cost accounting role. Depending on the options you select, you could also specialise in an audit, tax or financial management-based role.

The Foundation Diploma, available in Pakistan and Bangladesh only

First year of a degree programme or HND standard or equivalent.

 

 

What are the entry requirements?

ACCA is committed to broadening access to financial education and careers and so we do not set any academic requirements for our FIA qualifications. However, if you have no formal qualifications, we recommend that you start FIA at the ACCA Diploma in Financial and Management Accounting (RQF Level 2), especially if it has been a while since you completed any studies.

Once you have completed the ACCA Diploma in Accounting and Business (RQF Level 4) (or the Foundation Diploma if you are based in Bangladesh or Pakistan) you can choose to transfer onto the ACCA Qualification where your FIA qualifications will entitle you to free exemptions for the Applied Knowledge exams.

What standards of English and Maths are required for FIA?

The FIA qualifications are in English language so you will require a reasonable competency in written English. And, because we focus on business and finance, there is also an expectation of numeracy – the ability to work with numbers.

We have created some self-check tests and interactive learning modules to help assess your competence. These can be accessed in our Student Virtual Learning Centre.

You can also access maths and English language support to improve your skills while studying for your ACCA qualifications.

Explore the courses with free online learning through ACCA-X

We have launched a high-quality online learning programme for students starting their FIA studies. These are delivered by two world leaders in education provision – EdX to deliver the program and Epigeum to provide the content and support.

The following courses are free and available to you wherever you are in the world:

ACCA-X also offers affordable courses, which prepare you for the ACCA Diploma in Accounting and Business (RQF Level 4).

The courses are supported by online tutors who will guide you through exciting and interactive content that is designed to help you develop financial literacy skills.

Sign up to ACCA-X free of charge