What are the minimum requirements to get admission in Foundations in Accountancy FIA? Is there any age limit to take admission in FIA? Or is there any qualification is required before one can start Foundations in Accountancy course with ACCA?
Foundations in Accountancy which is a new offering from ACCA is an entry level suit of qualifications. Entry level accounting qualifications are basically designed for those students who have no idea of accountancy or who are already working in accountancy field but have no formal qualification or simply does not have a qualification which is not globally recognized.
Therefore entry level qualifications like Foundations in Accountancy by ACCA offers a great deal of value because students can get some deep insight in accounting and accountancy subjects right from grass root level and also enjoy the global recognition and such qualifications can win interviews for them anywhere in the world.
There are no specific requirements mentioned by ACCA to start FIA. However, local institutes in different countries may have different age restrictions due to educational policies. So, it is always a good idea that students should pay a visit to local ACCA office or consult student advisers at approved learning providers.
Similarly, students are not required to hold any specific qualifications before he/she is eligible to get admission in FIA.
Even though Foundations in Accountancy qualification support almost all kind of students who wish to have a profession in accountancy but usually it is done by those who wish to start ACCA and do not meet the minimum requirements. So, by doing FIA then become eligible to start professional qualifications like ACCA and can even claim exemptions especially in ACCA.
Through this new suite of qualification now a student can go to ACCA directly with 3 papers exemption without getting CAT certificate. Now my question is, what should one do? Wait for completing full CAT, or move to ACCA without CAT CERTIFICATE?
It depends on student and his/her circumstances. If student is good in accountancy and/or wants to start early ACCA for any reason then doing just three subjects will be good enough. Otherwise one can get the CAT certification by appearing in all papers of CAT or FIA whichever is applicable.