ACCA Professional Qualification Fundamental Level

Introduction

The ACCA professional scheme is a course designed by the internationally reputed accountancy body the "Association of Chartered Certified Accountants" (ACCA). This qualification can lead to a rewarding career in accountancy, finance and business management. The ACCA qualification comprises a combination of exams and practical experience.

ACCA Professional Qualification:

The new ACCA qualification consists of fourteen papers bifurcated into two levels - fundamentals and professional. The fundamentals level consists of nine papers, of which three knowledge papers and six skills papers. The professional level consists of three essential papers and four optional papers of which the student should choose any two papers.

New ACCA qualification = 14 papers + professional ethics + three years relevant practical experience

Fundamentals Level

The Fundamentals level is divided into two modules - Knowledge and Skills. The Knowledge module (F1-F3) introduces students to the core areas of financial and management accounting. The Skills module (F4-F9) contains six subjects which comprehensively cover the main technical areas that any accountant - regardless of their future career aspirations - are expected to have mastered.

Knowledge Modules

• F1 - Accountant in Business AB
• F2 - Management Accounting MA
• F3 - Financial Accounting FA

ACCA Examinations:

Students have the choice of sitting either computer-based (CBE) or paper-based exams. For papers F1,F2 and F3 at the Fundamental level, the student has a choice to take either a computer based or paper a based examination. All other examinations are paper based and are held twice a year - in June & December. The London School of Management is an ACCA approved Computer Based Examination (CBE) centre and conducts exams almost every month.

Access to ACCA via CAT qualification

• no academic qualifications required
• sit Certified Accounting Technician
• (CAT) qualification first and then transfer to the Skills module of the ACCA Qualification by claiming exemption from the first three papers in the Knowledge module.

ACCA Progression

• On completion of Knowledge modules, students progress to Skills modules.
• On completion of Skills modules, students progress to Professional level and or complete Oxford Brookes degree programme.
• On completion of Professional modules with Professional Ethics module and required training for three years, students become full ACCA members.

ACCA Registration

Students must be registered with ACCA before taking any exams. They may however be eligible to claim exemptions on the basis of previous academic qualifications or relevant work experience.
Closing dates for submitting ACCA registration are as follows:

For June exams - 31 December (of the previous year)
For December exams - 15th August (of the same year)

These deadlines do not apply for students who elect to sit computer-based exams (CBEs), which are available for papers F1,F2 and F3. CBEs can be taken at any time of the year although students require their ACCA student registration number before they can sit the exam.

Enrolment on a course at LSM does not automatically register you with ACCA.

Course Delivery

Students who meet the minimum entry requirement commence their studies from Knowledge modules at the Fundamental stage and are expected to sit computer-based exams (CBEs) for Papers F1,F2 and F3. On completion students may then sit paper-based exams for subsequent levels. Students may choose one of the following study options:
"Please Note: Students may enroll for individual paper subjects."
(Terms & Conditions apply)

Option One

PapersF1, F2, F3
then, Papers F4, F5 and F6
then, Papers F7, F8 and F9
Thereafter students progress to Professional level - Papers P1,P2 and P3, then Optional papers P4 and P5 or P5 and P6

Option two

Papers F2 and F3
then, Papers F1 and F4
then, Papers F5 and F6
then, Papers F7, F8 and F9

Thereafter students progress to Professional level - Papers P1,P2 and P3, then Optional papers P4 and P5 or P5 and P6

Class Schedule & Duration and Commencement Dates :
LSM offers both full and part time tuition and students may select one of the following schedules:

Daytime Classes (full time) - Monday to Friday, 1000 - 1700 hrs
Evening Classes (part time) - Monday to Friday, 1730 - 2030 hrs
Weekend Classes - Saturday & Sunday, 0900 - 1700 hrs

Students who choose Option 1 will be expected to take two and a half years to complete the full program. Students who choose Option 2 should expect to take 3 complete years to complete the full programme. All full time students attend classes for 15-18 hours per week.

All Levels commence twice a year, in either January or July.

Revision Classes

LSM also offers revision classes to those students who require additional support in preparing for their exams. These revision classes are normally offered during April/May for June examinations and October/November for December examinations. Classes can be arranged on weekdays, evenings or weekends depending on the level of demand.