Many students are still confuse about the new suit of qualifications offered by ACCA that is will replace existing CAT by June 2011.
Well, first of all if you are an existing CAT student or have been registered in CAT scheme already than you don’t have to worry about anything as you are neither losing nor gaining anything from transfer.
Also, FIA and CAT contains the same number of subjects, so even that is not causing any virtual advantage or disadvantage as before or after transfer you will have to sit through the same number of papers. For example, if you are a CAT student at the moment and have passed up to CAT T4 then under current CAT scheme you have to do 5 more exams to get CAT certification. And this is the same even after the transfer. After the transfer you will get exemption in the first four papers of FIA which equivalent to CAT subjects i.e. T1 = FA1, T2 = MA1, T3 = FA2, T4 = MA2 and even under FIA you have to do 5 exams to get the CAT certification.
However, there is one possible advantage that students can count by transferring to FIA that T5 T6 and T7 exams wll become CBE based which are currently paper based. And also the new syllabus is a bit easy as compared to current T5 T6 and T7 subjects. Especially for T7’s new replacement i.e. FMA which is also equivalent to ACCA F2 is far easier then current T7.
Another fact that is of extreme importance by introduction of FIA is that previously students had to do whole 9 exams of CAT to get the exemption of first three papers in ACCA i.e. F1, F2 and F3. But now under FIA you don’t have to do all 9 papers but just start straight away the Diploma in Accounting and Business, pass three papers under that and get exemptions in ACCA and resume your ACCA from F4. You can read more details about What is FIA on this page.
Besides that, I find no advantage or disadvantage that students should be worried about. But I will keep you people updated as and when new information is available to me. But if you any question you can use i-ask! service any time.
Hope it helps.