Wednesday, 08 October 2014
Accounting students at the University of Worcester will now be eligible to claim exemption from a number of professional exams after the course received special accreditation by two of the leading professional accountancy bodies.
The Universitys BA (Hons) Accounting degree has been awarded exemption accreditation by the Institute of Chartered Accountants in England & Wales (ICAEW) and the Association of Chartered Certified Accountants (ACCA). This is in addition to the accreditations already received from the Chartered Institute of Management Accountants (CIMA) and the Institute of Financial Accountants (IFA). The University has also been awarded Partner in Learning status from the ICAEW.
Students who complete the degree programme can now gain exemption from a significant proportion of the professional exam papers with these institutes, awarding them credit for prior learning. Some of the exemptions are also available to students whose degrees are on the business, accounting & finance pathways.
Accounting Lecturer Stephanie Matthews, said: This is hugely beneficial to our students as it means that once they have completed their degree, they will not have to sit a number of the professional exams, as they will have already been taught the topics during their studies with us. It will therefore provide our students with a less onerous route to qualification as a Chartered Accountant.
We have designed the course so that it is practical and relevant and gives our students the best possible start to a career in the accountancy and finance professions.
The news has been welcomed by students. First year student Alexandra Ficiu said: Not only does it [the course] give you exemptions for Association of Chartered Certified Accountants, but it opens doors for you in the accountancy profession. It helps students to obtain a well-rewarded career, perhaps even at one of the big four accountancy firms in the UK.
Fellow student Brad Hendry added: The University of Worcesters accounting degree had all the attributes to help me become an accountant. They provide maximum exemptions for the leading accounting bodies and there facilities will definitely benefit me and help me reach my goals.
The professional exams which students are eligible for exemption are as follows:
Institute of Chartered Accountants in England & Wales (ICAEW):
Business and Finance
Principles of Taxation
Association of Chartered Accountants in England & Wales (ACCA):
F1 Accountant in Business
F2 Management Accounting
F3 Financial Accounting
F4 Corporate & Business Law
F5 Performance Management
F7 Financial Reporting
F8 Audit & Assurance
F9 Financial Management
Chartered Institute of Management Accountants (CIMA):
C01 Fundamentals of Management Accounting
C02 Fundamentals of Financial Accounting
C05 Fundamentals of Ethics, Corporate Governance and Business Law
P01 Management Accounting
P02 Advanced Management Accounting
P03 Risk Management
F01 Financial Reporting & Taxation
F02 Advanced Financial Reporting
F03 Financial Strategy
Institute of Financial Accountants (IFA):
Upon completion of BA (Hons) Accounting degree students will be eligible to apply for full membership of the IFA after graduation and would not be required to sit any further exams.