By Olubusuyi Adenipekun
THE new Foundations in Accountancy introduced by the Association of Certified Chartered Accountants (ACCA) has opened a new window of opportunity to students who do not possess the minimum entry requirements for the ACCA to acquire its globally recognised professional accountancy certification.
This new programme, which awards certificates, diplomas and a revised Certified Accounting Technician (CAT) qualifications, offers students with no formal academic qualifications the eligibility to register to take examinations, unlike in the past when unqualified students had to register through the Mature Student Entry Route (MSER).
These disclosures were made by the Nigerian Country Manager for ACCA, Mrs Toyin Ademola in Lagos. According to her, the Foundations in Accountancy is flexible, making it possible for students who do not meet the minimum entry requirements for ACCA qualification to register for the awards, adding that they can start studying at any level, including the Diploma in Accounting and Business.
She further revealed that prospective students are not mandated to successfully complete the papers within a specified time frame as a pre-requisite for progression to the ACCA qualification stage, explaining that Foundations in Accountancy focus on the core skills of financial and management accounting as well as the wider business roles of the accountant at higher level.
The programme, says Ademola, also affords employers the opportunity of choosing the level of qualification which suits their business needs, reiterating that it also provides students with flexible entry points with certification awarded at each level.
The various levels for which certification is awarded, says Mrs Ademola, include Introduction to Financial Management Accounting, Intermediate in Financial and Management Accounting, Diploma in Accounting and Business and Certified Accounting Technician, informing that certification at each of these levels empowers individualsÂ in using it to seek for employment.
Ademola explained that the flexible nature of the newly introduced programme will not impinge negatively on the standard of ACCA. Her words: â€œThe newly introduced Foundations in Accountancy awards do not in any way reduce the potency of the awards in terms of its high quality and global recognition which ACCA is known for.
Rather it offers prospective ACCA certificate awardees various avenues for qualification for one of the worldâ€™s most sought after professional accountancy certifications.
She added that the Foundation in Accountancy awards permit various entry points, allowing maximum flexibility for prospective students to select the most appropriate entry route and progression to additional qualifications, based on their previous qualifications, experience and future career aspirations.
ACCA is the global body for professional accountants which offers business-relevant, first-choice qualifications to people who seek a rewarding career in accountancy, finance and management.