ACCA changes

sharky86

Just received this email:Foundations in Accountancy and changes to MSER
ACCA is introducing a new suite of entry-level qualifications, referred to as Foundations in Accountancy. The new suite of awards will be launched in January 2011 and the first exams will be held in December 2011. We therefore want to provide you with some information about this new suite of awards and what impact this will have on you as a current MSER student studying for the ACCA Qualification.
As part of Foundations in Accountancy, ACCA is introducing a Diploma in Accounting and Business, which consists of three exams; Accountant in Business (FAB); Management Accounting (FMA); and Financial Accounting (FFA). These three exams will be identical to the first three exams of the ACCA Qualification – F1, Accountant in Business, F2, Management Accounting and F3, Financial Accounting. They will share identical syllabus and exam assessment. If you complete these three exams and the Foundations in Professionalism module, either as part of Foundations in Accountancy or the ACCA Qualification, you will achieve the same award too – an ACCA Diploma in Accounting and Business.
Because the exams will be identical, they will replace the current Mature Student Entry Route (MSER) of the ACCA Qualification for students who do not meet our minimum entry requirements.
So what does this mean for you as a current MSER student?
Hopefully you will have experienced exam success and completed both MMA and MFA before the changes are introduced and will be making excellent progress towards achieving the ACCA Qualification. If not, please be reassured that you will not be disadvantaged by the introduction of Foundations in Accountancy.
If you have not completed both MMA and MFA by August 2011, we will automatically transfer you over to Foundations in Accountancy and you will be awarded converted passes for either of the exams you may have passed. You can then complete the remaining exams at the Diploma level from December 2011. If you also complete the Foundations in Professionalism module, you will be awarded the Diploma in Accounting and Business, claim exemption from exams F1, F2 and F3 of the ACCA Qualification and can transfer over to the Knowledge module of the ACCA Qualification where you can start studying for the Skills module. Alternatively, you can skip the Foundations in Professionalism module and can still go on to the ACCA Qualification and start studying from the Skills module - but you won’t be awarded the Diploma.
So what should you do now? There are three simple steps to follow.
Step 1
Carry on studying! You may pass MMA and MFA before the changes are implemented and be part way through your ACCA Qualification exams so you are encouraged to continue studying for your exams. Don’t worry about missing out on the Diploma – you will be able to gain an Advanced Diploma in Accounting and Business from December 2011 when you have completed the exams within the Skills module of the ACCA Qualification.
If you haven’t passed both your MMA and MFA exams by August 2011, we will automatically transfer you over to the Foundations in Accountancy register, award converted passes if you have passed either exam under MSER, and you can continue with your exams at the Diploma level.
Step 2
If you want to find out more about Foundations in Accountancy visit the website at www.accaglobal.com/fia and read the articles in the next digital issue of your student magazine Student Accountant. Should you have any queries about Foundations in Accountancy, please email fia@accaglobal.com
Step 3
Look out for further communication from ACCA. We will regularly write and email you between now and August 2011 when all existing MSER students will be transferred over to the Foundations in Accountancy register so make sure you keep your postal address and email details up to date. Date for your diary! In February 2011 we will write to you with detailed provisional conversion arrangements based on the exams you have already completed. This will be updated in August 2011 with details of any exams you may have taken and passed from the June 2011 exams.
In the meantime, we wish you every success with your ACCA studies.
ACCA Qualifications Team

Correct me if I am wrong but does this mean that after the first 3 exams you will actually get a diploma?

djk1000

There are lots of people that would benefit from knowing the basics, but have no intention of being accountants. If you are looking for a job or a promotion, saying "I have a diploma in Accounting and Business" sounds better than "I have 3 accounting exams done"

I suspect that this is a reaction to CIMA's certificate in business accounting, which many employers encourage their managers to undertake.

I find it strange that they will be offering a diploma after the first 9 exams, even though they already offer a degree after the first 9. I'm also a bit miffed that it doesn't appear to be retrospective, I've done the exams but I won't get a nice diploma for my wall

sharky86

nice think I might actually perk up and start studing again so. been putting it on the long finger for a year now!

smcgiff

You'll get a Diploma in Accounting & Business after 3 exams and and Advanced Diploma in Accounting & Business after another 6.

You'd need to prepare a thesis to get the degree.

kilburn

I like it, its good to be rewarded as you progress. !

bananaskins

I find it strange that they will be offering a diploma after the first 9 exams, even though they already offer a degree after the first 9. I'm also a bit miffed that it doesn't appear to be retrospective, I've done the exams but I won't get a nice diploma for my wall [/QUOTE]


Couldnt see a thank you button lol
I too find that a strange hmmm wonder what the difference will be
And yea also miffed i dont get a diploma for my wall as i went straight into this route of sudy after LC and would like to have one, i know it won't make much of a difference when fully quailifed but still would be nice to be awarded one if they are the same syallbus why not if you have not yet recieved your degree give a nice diploma for encouragement and a sense of achievement.:(

smcgiff

bananaskins wrote: »

Couldnt see a thank you button lol
I too find that a strange hmmm wonder what the difference will be
And yea also miffed i dont get a diploma for my wall as i went straight into this route of sudy after LC and would like to have one, i know it won't make much of a difference when fully quailifed but still would be nice to be awarded one if they are the same syallbus why not if you have not yet recieved your degree give a nice diploma for encouragement and a sense of achievement.:(

ACCA used to issue a certificate at the end of each stage... have they stopped this?

accaguest

ACCA used to issue a certificate at the end of each stage... have they stopped this?

I got a 'Certificate' when I finished up to P1 last sitting - it's hilarious really. It's basically a printout of your status report printed on fairly decent paper. It even says Pass or CBE Pass next to each subject. I can't for the life of me see what it's actually for, you'd be embarrassed to show it to anyone.

It's not as bad as the Professional Ethics cert though. That really takes the biscuit. Not even decent paper for that one (and I'm fairly sure the toner on the printer must have been almost out when they printed mine, I can barely read it).