The ACA qualification and the ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) are both offered by ICAEW (The Institute of Chartered Accountants in England and Wales) a world leader of the accountancy and finance profession.
The ICAEW chartered accountancy qualification, the ACA, is one of the most advanced learning and professional development programmes available. Its integrated components provide you with an in-depth understanding across accountancy, finance and business. Combined, they help build the technical knowledge, professional skills and practical experience needed to become an ICAEW Chartered Accountant.
The ACA qualification comprises three levels —
- Certificate Level consists of six modules which provide an introduction to fundamentals of accountancy, finance and business.
- Professional Level consists of six modules which build on the key skills already learnt at Certificate Level and tests your understanding and ability to apply technical knowledge in real-life scenarios.
- Advanced Level consists of two technical papers and a case study. These papers test your understanding and strategic decision-making at a senior level.
ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB)
ICAEW CFAB is a certificate-level qualification that provides essential knowledge and practical skills for anyone who wants to understand the fundamentals of finance, accounting and business. Having a good understanding across these areas is highly valued by employers in any role and in any organisation. ICAEW CFAB consists of the same six computer-based assessment modules as the Certificate Level of the ACA: Business and Finance, Management Information, Accounting, Law, Assurance, and Principles of Taxation. Please note that from 1 January 2018, Business and Finance will be called Business, Technology and Finance.
ACA and ICAEW CFAB Modules
The six modules of the Certificate Level are assessed electronically (computer-based exam). Students taking these assessments attend an ICAEW approved test centre, enter their answers into a computer and can then access their results the next day via the exams section of the student website. Each assessment is one and a half hours long.
If you have any further queries about the ACA or ICAEW CFAB qualifications, the computer-based exams, structure of examinations or the syllabus please contact ICAEW at +44 (0)1908 248 250, email firstname.lastname@example.org, or visit the ICAEW careers website.
You can apply for and book a computer-based exam directly with an approved test centre. You should first speak to your employer as they may have arrangements in place with a test centre and may organise your assessment for you along with your tuition. A list of tutor organisations which are approved test centres can be downloaded from the ICAEW website.
Students whose firms do not have established arrangements or who wish to make their own arrangements can book a computer-based exam through Pearson VUE. To sign in you will need your ICAEW student registration number. Your Pearson VUE username and password are both ‘ICAEW’ followed by your student number (e.g. ICAEW1234567). You will then be prompted to change your password for security, but your username will remain the same.
Level 4 & Level 7 Apprentices
If you are a level 4 or level 7 apprentice you must not be asked to contribute towards the cost of your apprenticeship. Therefore, if you are paying for your exam entry fee, you must ensure that you have the ability to reclaim this cost via your organisation’s expenses process/system.
When you arrive at the Pearson VUE test centre on the day of your exam appointment, before being permitted to enter the exam room, you will be required to confirm your identity by presenting two forms of accepted ID; a Primary ID and a Secondary ID. All ID must be current and valid (not expired). If you arrive at the test centre without the required IDs you will not be permitted to test and you will have book (and pay for) a new appointment. Read complete requirements »
At the Test Centre
Your examination will take place at a computer provided by the test centre. During the check-in process, you will be provided with the following materials:
- a CASIO fx-83 GT PLUS scientific calculator
- a spiral-bound booklet, consisting of 5 laminated sheets (or 5 laminated single noteboards, where booklets are unavailable) and a pen
During the exam, the booklet or noteboards may be replaced for clean ones, but you will not be permitted to have more than the allocated number (ie 1 booklet or 5 noteboards) at any one time.
You must return these articles to the test centre administrator after completion of the exam. Personal items may not be brought into the examination room. Full instructions will be available through the test centre.