The Association of Chartered Certified Accountants, or ACCA, is a globally recognised professional accounting body. Its reputation has earned itself more than 2 million members and more than 500,000 students worldwide. ACCA’s reputable programme has earned its position for students to build their foundation and knowledge in their careers in accounting and finance.
There are several factors that make ACCA an excellent choice to pursue your pathway to accounting and finance, but here is a brief breakdown of why you should consider it:
- Globally Recognised
- ACCA is recognised in over 78 markets along with 80 international accountancy partnerships.
- Credibility
- ACCA has a credible recognition as its curriculum involves 13 meticulous exams to ensure that you are well prepared for the arena of accountancy.
- Excellent Curriculum
- The curriculum that has been designed for ACCA is kept up to date with the relevant knowledge and skills you need to hone so that you may succeed.
- Career Security
- ACCA does not only make sure that you are well equipped with the necessary knowledge for you to pass your exams and become a certified accountant, but it also provides you with the soft skills of knowing how to do senior managerial work.
What is ACCA Certified Accounting Technician (CAT)?
CAT is the abbreviation for the Certified Accounting Technician. A CAT qualification is a terminating qualification by ACCA which serves the purpose of supporting your education in accounting. Getting you ready to face the supporting role in your accounting career, as well as providing you with a firm foundation in financial and managerial skills, is the objective of CAT. While it used to be a direct pathway for students to enter ACCA after completing their SPM or O-Levels, CAT has developed into becoming a “top-up programme” for students that are pursuing accounting courses. In this way, CAT has become a way for students completing a diploma in accountancy to become certified accounting technicians.
What is ACCA Foundation in Accounting (FIA)?
FIA on the other hand stands for Foundation in Accountancy. It is a course that students may take as an entry-level qualification in accountancy and finance. The curriculum is designed to train students to become competent employees in the accounting arena. Furthermore, ACCA FIA graduates are exempted from the Applied Knowledge Module on ACCA, which gives them the advantage of starting immediately at Applied Skills level. It has since been a replacement to the CAT programme, directing a straightforward pathway to ACCA. However, because it is a foundation level award, a certificate of completion in FIA cannot be used to obtain a job. To do so, you would have to complete 2 specialist papers under the newly revised CAT programme in order for you to be considered as an accounting technician.
What is the Difference Between ACCA CAT & ACCA FIA?
Now that we have established that ACCA FIA is a replacement of ACCA CAT, the difference between the two ultimately comes down to 3 main points:
- CAT has 9 mandatory papers, whereas FIA only has 7 mandatory papers in its programme.
- FIA does not require you to complete MQA-mandated MATA Pelajaran Umum, or MPU for short. This gives you the advantage of completing your programme faster than you would in CAT.
- CAT roughly takes about 1.5 years to be completed, meanly FIA only takes 1 year for you to finish it.
Pathway from FIA to ACCA
The pathway you would need to go through to get from ACCA FIA to ACCA is six-fold. Listed in a comprehensive step-by-step bullet point below are the stages you would go through to get into ACCA through a FIA programme:
- Stage 1: Completion of 7 papers from FIA
- Stage 2: Completion of 6 papers from ACCA Applied Skills
- Stage 3: Completion of 15 hours of Ethics and Professional Skills module (EPSM)
- Stage 4: Completion of 4 papers of ACCA Strategic Profession
- Stage 5: Completion of 3 years Practical Experience Requirement
- Stage 6: Obtain your Chartered Certified Accountant status!
Pathway from FIA to CAT
As aforementioned, an ACCA FIA award is not able to obtain your employment, but you can use it to get into ACCA CAT. Taking the renewed curriculum of CAT can allow you to apply as a certified accountant. The stages in this pathway is five-fold, listed down in a simple step-by-step layout below:
- Stage 1: Completion of 7 papers from FIA
- Stage 2: Completion of 2 papers from CAT Specialist Papers
- Stage 3: Completion of Foundations in Professionalism module
- Stage 4: Completion of 1 year of CAT Foundations Practical Experience Requirement (FPER)
- Stage 5: Obtain your status as a Certified Accounting Technician!
Career Opportunities
After gaining your status as a certified accountant, you may be wondering what your future career prospects may be looking like. Here is a brief list of job opportunities you have ahead of you:
- Chartered Accountant
- Financial Accountant
- Management Consultant
- Financial Analyst
- Risk Manager
- Tax Manager
- Chief of Financial Officer (CFO)
Entry-Requirements to Pursue FIA & CAT
Below are the general entry-requirements you would need to fulfill to pursue your education in ACCA FIA and ACCA CAT:
Qualification | Minimum Requirement |
SPM/O-Level | 5 Cs *inclusive of English and Mathematics |
UEC | 3 Bs *inclusive of English and Mathematics |
Top Private Universities To Study Foundation in Accountancy
Now that we have established what FIA & CAT is and the qualifications you need to fulfill to be eligible for the programmes, let’s look at where you can pursue these programmes. Below are the following private universities in Malaysia that are offering FIA and/or CAT.
#1 Taylor's University
Programme | ACCA Foundation in Accountancy (formerly CAT) |
Duration | 1 year |
Intake | April, July |
Indicative Fees | Local students: RM15,050 International students: RM32,230 |
For more information regarding course structure, entry requirements, intakes available, fee structure – contact us now to book your consultation session.
Let us assist you in your application process for FREE of charge!
#2 University of Wollongong Malaysia
Programme | Foundation in Accountancy (ACCA-FIA) |
Duration | 1 year |
Intake | January, July |
Indicative Fees | Local students: RM11,550 International students: RM16,250 |
For more information regarding course structure, entry requirements, intakes available, fee structure – contact us now to book your consultation session.
Let us assist you in your application process for FREE of charge!
#3 Methodist College Kuala Lumpur (MCKL)
Programme | ACCA Foundation in Accountancy (ACCA FIA) |
Duration | 1 year |
Intake | January, April, July |
Indicative Fees | Local students: RM10,100 International students: RM15,100 |
For more information regarding course structure, entry requirements, intakes available, fee structure – contact us now to book your consultation session.
Let us assist you in your application process for FREE of charge!
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About The Author
Karisse Hannah
Journalism and Advertising major. Passionate about reading and writing, and an advocate for the truth.