2. Accounting qualification exams?

How many exams?

The breakdown, this will show how many exams/case studies etc you will need to sit for each qualification.

  • Association of Accounting Technicians (AAT)
  • Foundations in Accountancy (FIA formerly CAT)
  • Association of Taxations Technicians (ATT)
  • Chartered Institute of Public Finance and Accountancy (CIPFA)
  • Chartered Institute of Management Accountants (CIMA)
  • Association of Chartered Certified Accountants (ACCA)
  • Association of Chartered Accountants (ACA held by ICAEW)
  • Chartered Tax Adviser (CTA held by CIOT)
  • Chartered Financial Analyst (CFA)

The most difficult here is CFA, this qualification breaks people; and it is that way by design, but it is NOT an accounting qualification! It is a Financial Market qualification, please don’t get this confused.

AAT

There are three levels TO AQ 2016 and 17 exams in total.

AAT have introduced Synoptic exams; the best way to describe them is they will contain parts of a previous exams plus an additional subject.

  • Foundation Certificate in Accounting – Level 2: (5 exams) 6-12 months to complete
  • Number of exams at this level: 5 exams

o   Book keeping transactions (BTRN) – Solo + part of synoptic exam.
o   Book keeping controls (BKCL) – Solo + part of synoptic exam.
o   Elements of costing (ELCO) – Solo + part of synoptic exam.
o   Work effectively in finance (WEFN) – Synoptic exam only.
o   Synoptic assessment (FSYA).
o   Using Accounting software (UACS) – solo exam only.

  • Advanced Diploma in Accounting – Level 3: 12 months + to complete
  • Number of exams at this level: 6 exams

o   Advance book keeping (AVBK) – Solo + part of synoptic exam.
o   Final accounts preparation (FAPR) – Solo + part of synoptic exam.
o   Management accounting: Costing (MMAC) – Solo + part of synoptic exam.
o   Indirect tax (IDRX) – Solo + will be in synoptic exam.
o   Ethics for accountant (ETFA) – Synoptic exam only.
o   Spreadsheets for accounting (SPSH) – Synoptic exam only.

  • Professional Diploma in Accounting – Level 4: 12-18 months to complete
  • Number of exams at this level: 6 exams (4 fixed + 2 options)

o   Financial statement of limited companies (FSLC) – Solo + part of synoptic exam.
o   Management accounting: Budgeting (MABU) – Solo + part of synoptic exam.
o   Management accountant: Decision and control (MDCL) – Solo + part of synoptic exam.
o   Accounting systems and control (ASYC) – Synoptic exam only.

You will need to pick 2 of these option papers:

o   Personal tax (PLTX) – solo exam only.
o   Business tax (BSTX) – solo exam only.
o   Credit management (CDMT) – solo exam only.
o   Cash and treasury management (CTRM) – solo exam only.
o   External auditing (ETAU) – solo exam only.

FIA

There are four levels to this qualification and 9 exams in total.

  • Introductory Certificate in Financial & Management Accounting
  • Number of exams at this level: 2 exams

o   Recording Financial Transactions (FA1)
o   Management Information (MA1)

  • Intermediate Certificate in Financial & Management Accounting
  • Number of exams at this level: 2 exams

o   Maintaining Financial Records (FA2)
o   Managing Costs & Finance (MA2)

  • Diploma in Accounting and Business
  • Number of exams at this level: 3 exams

o   Accountant in Business (FAB)
o   Management Accounting (FMA)
o   Financial Accounting (FFA)

  • Certified Accounting Technician – Pick two option papers
  • Number of exams at this level: 2 exams

o   Foundations in Taxation (FTX)
o   Foundations in Financial Management (FFM)
o   Foundations in Audit (FAU)

ATT

There is not really a level structure in ATT you will sit 5 exams in total.

  • Compulsory Computer Based Examinations
  • Number of exams at this level: 2 exams

o   Law
o   Professional Responsibilities & Ethics

  • Compulsory written papers
  • Number of exams at this level: 2 exams

o   Personal taxation
o   Business taxation

  • Compulsory written papers – Pick an option paper
  • Number of exams at this level: 1 exams

o   Business Compliance
o   Corporate Taxation
o   Inheritance Tax, Trusts & Estates
o   Value Added Tax

CIPFA

There are three levels to this qualification and 12 exams in total.

  • Professional Certificate
  • Number of exams at this level: 4 exams

o   Financial Accounting
o   Management Accounting
o   Company Financial Reporting
o   Audit and Assurance

  • Professional Diploma
  • Number of exams at this level: 6 exams

o   Business and Change Management
o   Corporate Governance and Law
o   Financial Management
o   Public Service Financial Reporting
o   Strategy and Policy Development
o   Taxation

  • Strategic Stage
  • Number of exams at this level: 2 exams

o   Strategic Public Finance
o   Strategic Case Study

CIMA

There are three levels to this qualification and 12 exams in total.

  • Operational
  • Number of exams at this level: 4 exams

o   E1 Organisational Management
o   P1 Management Accounting
o   F1 Financial Reporting and Taxation
o   Operational case study

  • Management
  • Number of exams at this level: 4 exams

o   E2 Project and Relationship Management
o   P2 Advanced Management Accounting
o   F2 Advanced Financial Reporting
o   Management case study

  • Strategic
  • Number of exams at this level: 4 exams

o   E3 Strategic Management
o   P3 Risk Management
o   F3 Financial Strategy
o   Strategic Case Study

ACA

There are 3 levels to this qualification and 15 exams.

  • Certificate
  • Number of exams at this level: 6 exams

o   Accounting
o   Assurance
o   Management Information
o   Business and Finance
o   Principles of Taxation
o   Law

  • Professional
  • Number of exams at this level: 6 exams

o   Financial Accounting and Reporting (FAR)
o   Audit and Assurance (AA)
o   Taxation Compliance (TC)
o   Business Strategy (BS)
o   Financial Management (FM)
o   Business Planning Taxation (BPT)

  • Advanced
  • Number of exams at this level: 3 exams

o   Corporate Reporting (CR)
o   Strategic Business Management (SBM)
o   Case study (CS)

ACCA

There are four levels to this qualification and 14 exams in total.

  • Knowledge
  • Number of exams at this level: 3 exams

o   F1 Accountant in Business
o   F2 Management Accounting
o   F3 Financial Accounting

  • Skills
  • Number of exams at this level: 6 exams

o   F4 Corporate and Business Law
o   F5 Performance Management
o   F6 Taxation
o   F7 Financial Reporting
o   F8 Audit and Assurance
o   F9 Financial Management

  • Essentials
  • Number of exams at this level: 3 exams

o   P1 Governance, Risk and Ethics
o   P2 Corporate Reporting
o   P3 Business Analysis

  • Options – Pick two option papers
  • Number of exams at this level: 2 exams

o   P4 Advanced Financial Management
o   P5 Advanced Performance Management
o   P6 Advanced Taxation
o   P7 Advanced Audit and Assurance

CTA

There is not really a level structure in CTA and there exam structure can be confusing but in total you’re sitting 8 exams.

  • Advisory
  • Number of exams at this level: 2 exams

o   Taxation of Owner-Managed Businesses
o   Taxation of Individuals
o   Inheritance Tax, Trusts & Estates
o   Advanced Corporation Tax
o   Human Capital Taxes

  • Awareness
  • Number of exams at this level: 3 exams

o   Taxation of Unincorporated Businesses
o   Taxation of Individuals
o   Inheritance Tax, Trusts & Estates
o   VAT including Stamp Taxes
o   Corporation Tax

  • Application and interaction
  • Number of exams at this level: 1 exams

o   Taxation of Owner-Managed Businesses
o   Taxation of Individuals, Trusts & Estates
o   Taxation of Companies
o   Human Capital Taxes

  • Compulsory Computer Based Examinations
  • Number of exams at this level: 2 exams

o   Law
o   Professional Responsibilities & Ethics

CFA

There are three levels to this qualification and 3 exams in total, just remember that each exam has a morning and afternoon paper (it will feel like you’re sitting 6 papers).

  • Level 1
  • Number of exams at this level: 1 exams
  • Level 2
  • Number of exams at this level: 1 exams
  • Level 3
  • Number of exams at this level: 1 exams

Brainthrough!

 

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