ACCA: Foundations in Accountancy - FIA
Foundation in Accountancy (FIA)
FIA is the set of entry - level awards developed by the ACCA, with the needs and expectations of employers in mind. FIA offers various entry points, allowing maximum flexibility to select the most appropriate entry route and progression to upper levels, based on previous qualifications, experience and further career aspirations. In line with current best practice and to meet the 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), and students can sit them at any time in our accredited CBE centres in Bratislava or Košice. The test duration is 2 hours and results are known immediately. - Exemptions
Students with the relevant qualification from a recognised institution may be eligible to claim exemptions from FIA papers. To be awarded the FIA Certificate or Diploma, it is necessary to pass at least one exam at the respective level and the online Foundations in Professionalism module. - Study Materials
The Academy uses First Intuition (FI) as a study material provider. The interactive platform includes a Question Bank and Course Notes, keynote information, additional articles, exam assessors' reports and past exam examples. The FI platform provides access to mock exams and additional course recordings directly from FI tutors. - Administration Support
The Academy provides administrative support throughout the study, including exam enrolment, communication with tutors, registration guide, providing information about results as well as providing comprehensive reports to management.
Computer based exams can be sat at any time during the year, providing students with better flexibility, particularly during the initial period of a course. Results are available immediately after the test is finished. In case of failure, the exam can be repeated an unlimited number of times.
For more information about CBE, or if you wish to apply for a CBE, please contact the Academy.
The Academy considers FIA to be a system of long-term educational process. Therefore we have designed the entire curriculum to last 18 - 24 months). Based on our experience, we propose three recommended ways to passing FIA:
- Step by Step this route assumes full completion of all 7 exams of FIA qualifications. It is mostly suitable for junior accountants without any relevant experience and education, who has been with the company for a short time.
- Convenience – entry into the system is at the intermediate level and course is prolonged for one training day. This level is suitable for more advanced accounting positions of university graduates without experience.
- Speed Route – beginning of studies is at the Diploma level, quick formal recognition of the qualification, suitable for experienced employees or as a motivation for key talents. Option to proceed to full ACCA Qualification.
The following table shows the duration of the course in days depending on the chosen study structure:
| Module | Step by Step | Convenience | Speed Route |
|---|---|---|---|
| FA1 | 2 | n/a | n/a |
| MA1 | 2 | n/a | n/a |
| FA2 | 3 | 3 | n/a |
| MA2 | 3 | 3 | n/a |
| FBT | 4 | 4 | 4 |
| FFA | 5 | 5 | 5 |
| FMA | 5 | 5 | 5 |
- Talent development
The FIA will help your organisation reach new talent pools in the labour market, such as school leavers and career changers, and enable you to identify the key talents within the company.
- Reputation
An internationally recognised professional qualification will send a positive signal to prospective employees, and the modular system of the FIA enables the design of a specific curriculum for different employees or job roles.
- Cost control
It is neither necessary nor efficient to have qualified professional accountants within all financial positions in the company. The FIA helps you to optimise costs and achieve better and earlier returns on training investments and to develop specific skills necessary to perform a specific function, in particular for junior positions.
- 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 – the FIA can provide this.
- Professionalism and ethics
Part of the FIA study is to complete the ethics module called Foundation in Professionalism, which will ensure that your staff demonstrate professional behaviour towards clients and respect a code of ethics in the workplace.
What do our alumni say?
"Our cooperation with PwC Academy in Slovakia started in 2013, when we opened a small FIA group. Based on a very good learning experience, employees’ feedback and results, the group grew nearly 10-fold over time. The Academy helped us build an educational system for the continuous development of our professionals. Now after 3 years, more than 250 students study with us for internationally recognised qualifications including FIA, ACCA, and DipIFR every year. Study programmes are a significant part of our talent development programme. Our pass rates are excellent - over 85%. We highly appreci-ate the consultative approach and the administrative support of PwC Academy."
"Initially, we didn’t want FIA, and considered it to be trivial, lacking relevance, and too easy for our staff. We provided long-term comprehensive IFRS training to a carefully selected small group of employees. However, FIA enabled us to change our strategy. Now, we train more staff as regards skills and knowledge relevant to their daily tasks. 3 years of FIA teaching proved it to be a highly relevant and stimulating study programme with a very positive impact on talent retention."
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