Foundation in Accountancy

Foundation in Accountancy (FIA) is the set of entry – level awards developed by ACCA (Association of Chartered Certified Accountants), with employers in mind, according to their needs and expectations. FIA offers various entry points, allowing maximum flexibility to select the most appropriate entry route and progression to upper levels, based on previous qualification, experience and further career aspirations.

In line with current best practice and to meet recommendations of the International Federation of Accountants, a Professionalism and Ethics Module has been included.

Exams

The FIA exams are all CBE (computer based exams), which means that students can sit them at any time in our accredited CBE centres in Bratislava or Kosice.  The test duration is 2 hours, during which the student must answer 50 questions. Each correct answer gets 2 points, to pass the test it is necessary to achieve at least 50 points. Results are known immediately and the Academy informs about overall results the management in the summary report.

Exemptions

Student with relevant qualification from a recognised institution may be eligible to claim exemptions from FIA papers. General management graduates are usually entitled for exemption from FAB (Accountant in Business), accountancy and finance graduates might get exemption from all FIA papers and proceed directly to study ACCA full qualification. On the other hand, graduates of law or other non-relevant subjects would not be eligible to any exemption. To be awarded with FIA Certificate or Diploma, it is necessary to pass at least one exam from respective level and online Foundations in Professionalism module. Granting exceptions is solely the responsibility of the ACCA and depends on various factors, including the subjects completed or year of graduation. The Academy advises to carefully consider accepting exemptions, and better make a solid foundation and go through the entire learning process.

Study materials

The Academy uses Kaplan Publishing learning materials. Each set includes Text Book, Exam Kit and Pocket Notes. In addition, the Academy tutors have developed the Course notes, which contain key information, additional articles, examiners reports and examples of past exam papers.

Administration support

The Academy provides administrative support throughout the study, including exam enrolment, communication with tutors, providing information about results as well as providing comprehensive reports to management. It also provides easy communication with the ACCA regarding charges or other matters.

Advantages for employer

1. Talent development
   Especially in times of crisis, the fight for talent is becoming increasingly urgent issue. Attracting and retaining high-quality graduates and skilled professionals have become one of the main tasks for employers. The FIA will help your organization to reach new talent pools in the labour market such as school leavers and career changers and enables you to identify the key talents within the company.
2. Reputation
   Investment in high quality education is a crucial factor when choosing an employer. Internationally recognized professional qualification will send a positive signal to prospective employees and a modular system of FIA enables to design specific curriculum for different employees or job roles.
3. Professionalism and ethics
   With increased scrutiny in recent years on how businesses operate, it is essential that all trainees know, what it means to act and behave professionally and ethically. Completing the Foundation in Professionalism module will make sure that your staff demonstrate professional behaviour towards clients and respect a code of ethics in the workplace.
4. Cost control
   It is neither necessary nor efficient to have qualified professional accountants at all financial positions in the company. FIA helps you to optimize costs and achieve better and earlier returns on training investments and develop specific skills necessary to perform a specific function, in particular for junior positions. 
5. Development of essential finance skills across the organisation
   Non-financial managers must have a good grounding in finance and accounting techniques in order to make effective business decisions – FIA can provide this.