Can we take transfer option from CAT to ACCA after passing CAT paper T1,T2,T3,T4,T6 apart from the mature base entry option to take admission in ACCA,?
Under new arrangements i.e. after the introduction and implementation of Foundations in Accountancy (FIA) suit of qualifications, things are not the same as they were used to be.
In order to understand the new suit of qualifications in plain words please refer to What is FIA? This short article will explain many things about FIA and how it has replaced CAT.
Previously, students had the option to transfer from CAT register to ACCA register after completing first five papers of CAT qualification i.e. CAT T1 to T5 subjects.
The other option available to them was to transfer to ACCA on maturity basis.
Now under FIA both of these options are not available Mature Student Entry Route (MSER) is now closed since students can enter ACCA by completing Diploma in Accounting and Business which is basically the same F1 F2 and F3 subjects.
Also, the facility to transfer from CAT to ACCA on completion of first five subjects is not available now, again for the same reason i.e. Diploma in Accounting and Business. The reason is, when you get registered under FIA, you do not have to do all the subjects to claim exemptions in ACCA and also you have the option to pick and choose any subject with in FIA stream. You can do Diploma in Accounting and Business (which is based on fifth, sixth and seventh paper in FIA stream) without taking the first four papers of FIA.
If you are still confused, then in your situation, now if you are transferred to FIA (which you will be) then you just need to do T5 and T7 papers and you will get exemptions in first three papers of ACCA. Isn’t it great? as previously you had to do all the nine papers to get three papers exemptions in ACCA.
To learn more about the transitional arrangement subjects and their syllabi, read What is TT5 TT6 and TT7?
