Exemptions in ACCA for ICAP Students

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ICAP and ACCA being the two most prestigious accounting bodies share similar traits and therefore ACCA allows exemptions/relaxation in its examination scheme to ICAP students/affiliates/members. Following read will help you determine your exemptions.

Exemptions available to ICAP students/affiliates/members are determined in two steps:

Step 1: Determine the year of study. ACCA has classified the years of study as follows:

  • Graduates from 01-JAN-2007 to 31-DEC-2013
  • Graduates from 01-JAN-2003 to 31-DEC-2006
  • Graduates from 01-OCT-2001 to 31-DEC-2002
  • Graduates from 01-JAN-1996 to 30-SEP-2001
  • Graduates from 01-JAN-1987 to 31-DEC-1995
  • Graduates to 31-DEC-1986

Step 2: After the year of study has been determined, determine the qualification level:

  • Full qualification – ICAP qualified
  • Part qualification – ICAP Part qualified
    • Foundation passed
    • Intermediate passed
    • Specific papers passed

To know the exemptions available to you please scroll down to the relevant term in which you have studied.

Graduates to 31-Dec-1986

These candidates are eligible to take admission in ACCA qualification however, no exemptions are available to part of fully qualified ICAP candidates.

Graduates from 01-Jan-1987 to 31-Dec-1995

Full qualification: ACCA papers up to ACCA F4 (4 papers in total) are exempted)

Part qualification: No exemptions are available even on paper to paper basis

Graduates from 01-JAN-1996 to 30-SEP-2001

Full qualification: ACCA papers up to F9 (9 papers in total) are exempted)

Part qualification:

Foundation examination: ACCA papers up to F4 (4 papers in total) are exempted

Other cases: including Full time foundation course and Basic accounting course are not eligible for any exemptions under ACCA qualification

Graduates from 01-OCT-2001 to 31-DEC-2002

Full qualification: ACCA papers up to F9 (9 papers in total) are exempted)

Part qualification:

Modular foundation examination: ACCA papers up to F3 (3 papers in total) are exempted)

Other cases: including Full time foundation course and Basic accounting course are not eligible for any exemptions under ACCA qualification

Graduates from 01-JAN-2003 to 31-DEC-2006

Full qualification: ACCA papers up to F9 (9 papers in total) are exempted)

Part qualification:

Foundation examination: No exemptions are available

Intermediate examination: ACCA papers up to F3 (3 papers in total) are exempt

Graduates from 01-JAN-2007 to 31-DEC-2013

Full qualification: ACCA papers up to F9 (9 papers in total) are exempted)

Part qualification:

Foundation examination: Only ACCA F4 (1 paper in total) is exempted

Intermediate examination: ACCA papers F1, F2, F3, F6 and F8 (5 papers in total) are exempt

Paper for paper: ACCA allows paper to paper exemptions if specific papers are passed with the following criteria:

ACCA paper to be exempted ICAP paper to be passed
F1 Accountant in Business INTRODUCTION TO ECONOMICS & FINANCE PLUS BUSINESS COMMUNICATION & BEHAVIOURAL STUDIE
F2 Management Accounting COST ACCOUNTING
F3 Financial Accounting INTRODUCTION TO FINANCIAL ACCOUNTING PLUS FINANCIAL ACCOUNTING
F4 Corporate and Business Law MERCANTILE LAW
F5 Performance Management COST ACCOUNTING PLUS MANAGEMENT ACCOUNTING
F6 Taxation TAXATION
F7 Financial Reporting FINANCIAL ACCOUNTING PLUS ADVANCED ACCOUNTING & FINANCIAL REPORTING
F8 Audit and Assurance AUDITING
F9 Financial Management BUSINESS FINANCE DECISION PLUS MANAGEMENT ACCOUNTING

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