CREDIT TOWARDS PROFESSIONAL ACCOUNTANCY QUALIFICATIONS Depending upon modules studied and performance, University of Exeter graduates may obtain credit towards the qualifications of the following leading professional accounting bodies: Institute of Chartered Accountants in England and Wales (ICAEW) Association of Chartered Certified Accountants (ACCA) Chartered Institute of Management Accountants (CIMA) Chartered Institute of Public Finance and Accountancy (CIPFA) The Association of Corporate Treasurers (ACT) Credit is maximised for those graduating with BA (Hons) in Accounting and Finance or BA (Hons) Business and Accounting having made appropriate module choices; it is by no means, however, restricted to these graduates. Note that credit available changes from time to time, with changes in the professional bodies qualifications and changes in University modules * and degree schemes. Details of the credit available as at 1 September 2013 are provided in the following pages: ICAEW ACCA CIMA CIPFA ACT P2 P3 P4 P5 P6 In addition, a two-page summary is provided on pages 7-8. Please consult Dr Chen Lim, Room 1.04 Streatham Court, Rennes Drive, Exeter, EX4 4PU (e-mail C.V.Lim@exeter.ac.uk) if you have any further queries. * Please note that the modules listed in this document apply to relevant accounting students that graduated in 2012/13 and/or those that are to graduate in 2013/14 only. Modules applicable to future graduates will be posted in a newer version of this document in due course. 1
Institute of Chartered Accountants in England and Wales Under the ICAEW Professional Stage examination syllabus exemption is available to Exeter graduates with BA Accounting and Finance and BA Business and Accounting degrees (including those with European/International Study/Industrial Experience) as follows, based on appropriate module choices: Paper Accounting Assurance Business and Finance Law Management Information Principles of Taxation Business Strategy Financial Management Awarded on the basis of passes (*) in: BEA1006 Accounting I (or BEA1009 Introduction to Management Accounting) BEA1007 Accounting II (or BEA1008 Introduction to Financial Accounting) BEA2001 Financial Accounting BEA2004 Audit ** see below BEA1003 Business Law for Accountants BEA3015 Corporate Law BEA1006 Accounting I (or BEA1009 Introduction to Management Accounting) BEA1007 Accounting II (or BEA1008 Introduction to Financial Accounting) BEA2006 Management Accounting (or BEA2008 Management Accounting I) BEA2007 Accounting Models for Management Decisions (or BEA2009 Management Accounting II) BEA2002 Taxation BEM3033 Strategic Management BEA2006 Management Accounting (or BEA2008 Management Accounting I) BEA2007 Accounting Models for Management Decisions (or BEA2009 Management Accounting II) BEA1005 Management Concepts & Practice BEA3001 Financial Management * A pass in the above modules is one at 50% or better (with at least 40% in all the assessed elements). ** Unlike other papers, credit for the Business and Finance paper will only be awarded on the basis of a first or upper second class degree, or a pass in BEE1027 Economics for Business, BEA1003, BEA1005, BEA2001, BEA2006/2008, BEA2007/2009, BEA2004, BEA3006 Governance, Accountability and Audit and BEA3015. This is because the ICAEW deems that the general learning outcomes for the paper are incorporated into modules throughout the accounting degree programmes. For further information and materials, see the following and follow the link: http://apps.icaew.com/index.cfm/route/146395/fuseaction/home/icaew_ga/en/students/credit_for_ prior_learning_directory 2
Association of Chartered Certified Accountants (ACCA) The BA Accounting and Finance and BA Business and Accounting degrees, and their with European/International Study/Industrial Experience variants are ACCA accredited. Credit for Fundamentals Level papers is available on full course completion, with options required in respect of certain papers as shown below: Paper Requires F1 Accountant in Business Completion of degree F2 Management Accounting BEA1006 or BEA1009 BEA2006 or BEA2008 and BEA2007 or BEA2009 F3 Financial Accounting BEA1007 or BEA1008 and BEA2001 F4 Corporate and Business Law BEA3015 F5 Performance Management BEA2006 or BEA2008 and BEA2007 or BEA2009 F6 Taxation BEA2002 F7 Financial Reporting BEA2001 and BEA3005 F8 Audit and Assurance BEA2004 and BEA3006 F9 Financial Management BEA3001 Note that for ACCA paper exemption purposes, passes must be at 40% or better in relevant core degree programme modules, and in any additional modules specified above. Credit in respect of other degrees must be sought from ACCA on a paper-by-paper basis. For further information and materials, see the following and follow the links: http://www.accaglobal.com/en/qualifications/apply-now/exemptions.html 3
Chartered Institute of Management Accountants (CIMA) Exemption for all Certificate Level papers is available to Exeter graduates with BA Accounting and Finance and BA Business and Accounting degrees (including those with European/ International Study/Industrial Experience). The CIMA Certificate Level papers are: C01 Fundamentals of Management Accounting C02 Fundamentals of Financial Accounting C03 Fundamentals of Business Mathematics C04 Fundamentals of Business Economics - requires BEA1006 or BEA1009 - requires BEA1007 or BEA1008 - requires BEE1022 and BEA3001 - requires BEE1027 C05 Fundamentals of Ethics, Corporate Governance and Business Law - requires BEA1003, BEA3015 and BEA3006 Exemption from Operational and Management Level papers is available as follows to graduates with BA Accounting and Finance and BA Business and Accounting degrees (including those with European/International Study/Industrial Experience): E1 Enterprise Operations F1 Financial Operations P1 Performance Operations F2 Financial Management requires BEE1027, BEA1005, BEA2005 (or BEA1010), BEA3006 and BEM2004 OBHRM (or BEM2020 Organisational Behaviour and BEM2021 Human Resources Management) requires BEA2001, BEA2002 and BEA3005 requires BEA1006 (or BEA1009), BEA2006 (or BEA2008) and BEA2007 (or BEA2009) requires BEA2001, BEA3005 and BEA3006 Note that for CIMA paper exemption purposes, passes must be at 40% or better in relevant core degree programme modules, and in any additional modules specified above in relation to Operational and Management Level papers. For further information and materials, see the following and follow the links: http://www.cimaglobal.com/study-with-us/exemptions/exemption-search/university-of-exeter/ 4
Chartered Institute of Public Finance and Accountancy (CIPFA) Exemption from CIPFA s Professional Certificate and Diploma Levels is available to Exeter graduates with BA Accounting and Finance and BA Business and Accounting degrees (including those with European/International Study/Industrial Experience) as follows, based on appropriate module choices: Certificate Level Financial Accounting Management Accounting Financial Reporting Audit and Assurance Requires Completion of degree Completion of degree BEA2001 Financial Accounting BEA3005 Financial Reporting & Analysis BEA2004 Audit BEA3006 Governance, Accountability & Audit Diploma Level Financial Management Business Strategy Taxation element (of Public Finance and Taxation) BEA3001 Financial Management BEM3033 Strategic Management BEA2008 Management Accounting I (or BEA 2006 Management Accounting) BEA2009 Management Accounting II (or BEA 2007 Accounting Models for Management Decisions) BEA1005 Management Concepts and Practice BEA2002 Taxation Note that for CIPFA paper exemption purposes, passes must be at 40% or better in relevant core degree programme modules, and in any additional modules specified above. For further information and materials, see the following and follow the links: http://www.cipfa.org/home/training%20and%20qualifications/current%20students/exemptions/ex emption%20matrix/university%20of%20exeter 5
The Association of Corporate Treasurers (ACT) Automatic and full exemption from ACT s Certificate in Financial Fundamentals (CertFin) is available to Exeter graduates as follows, based on appropriate module choices: Programme BA Accounting & Finance (including WES/WIS/WIE) BA Business & Accounting (including WES/WIS/WIE) Requires Completion of degree Completion of degree including a pass in BEA2002 Taxation BEA3015 Corporate Law Note that for ACT paper exemption purposes, passes must be at 40% or better in relevant core degree programme modules, and in any additional modules specified above. For further information and materials, see the following and follow the links: http://www.treasurers.org/qualifications/amct/exemptions 6
UNIVERSITY OF EXETER CREDIT TOWARDS PROFESSIONAL ACCOUNTANCY QUALIFICATIONS (as at 1 Sept 2013) BA (Hons) Accounting and Finance (with/without European/International Study/Industrial Experience) BA (Hons) Business and Accounting (with/without European/International Study/Industrial Experience) The table below summarises the position of our accounting degree programmes in terms of credit/ exemption received from the five main accountancy bodies. Credit (highlighted in blue below) is available to those graduated with BA (Hons) in Accounting and Finance or BA (Hons) Business and Accounting having made appropriate module choices. Please note that there are additional conditions attached to claiming these credit. Students are advised to read the preceding notes for further information. ICAEW ACCA Professional Stage Knowledge Modules (6 papers) Accounting Assurance Business and Finance Law Management Information Principle of Taxation Professional Stage Application Modules (6 papers) Audit and Assurance Business Strategy Financial Accounting Financial Management Financial Reporting Taxation Advanced Stage (3 papers) Technical Integration Business Change Technical Integration Business Reporting Case Study Fundamentals (9 papers) F1 Accountant in Business F2 Management Accounting F3 Financial Accounting F4 Corporate and Business Law F5 Performance Management F6 Taxation F7 Financial Reporting F8 Audit and Assurance F9 Financial Management Professional (5 papers in total) Essentials (all 3 compulsory) P1 Professional Accountant P2 Corporate Reporting P3 Business Analysis Options (2 to be completed) P4 Advanced Financial Management P5 Advanced Performance Management P6 Advanced Taxation P7 Advanced Audit and Assurance 7
CIMA CIPFA Certificate in Business Accounting (5 papers) C01 Fundamentals of Management Accounting C02 Fundamentals of Financial Accounting C03 Fundamentals of Business Mathematics C04 Fundamentals of Business Economics C05 Fundamentals of Ethics, Corporate Governance and Business Law Professional Qualification Operational Level (3 papers) E1 Enterprise Operations F1 Financial Operations P1 Performance Operations Professional Qualification Management Level (3 papers) E2 Enterprise Management F2 Financial Management P2 Performance Management Professional Qualification Strategic Level (3 papers) E3 Enterprise Strategy F3 Financial Strategy P3 Performance Strategy Professional Competence Level (1 paper) Final case study: The Test of Professional Competence in Management Accounting Professional Certificate (4 papers) Financial Accounting Financial Reporting Management Accounting Audit and Assurance Professional Diploma (6 papers) Business Management Business Strategy Financial Management Governance, Public Policy and Ethics Public Finance and Taxation Public Sector Financial Reporting Strategic Level (2 papers) Strategic Financial Management Strategic Leadership ACT Stage 1 Certificate in Financial Fundamentals (CertFin) Stage 2 Certificate in International Treasury Management (CertITM) Stage 3 Certificate in International Cash Management (CertICM) Certificate in Corporate Finance and Funding (CertCFF) Certificate in Risk Management (CertRM) Certificate in Financial Maths and Modelling (CertFMM) 8