OVERVIEW:

ACCA Foundation also known as the Foundation in Accountancy (FIA) is a very famous route for many students to enter the ACCA qualification. It is a foundational level of accounting, it helps to build the basics of accounting in students with no background in the field. The duration of completion of the FIA completely depends on the factors like student’s study pace, commitment to learning, and the availability of resources. 

STEPS AND TIMELINE TO COMPLETE ACCA FOUNDATION IN ZIMBABWE:

STRUCTURE OF FIA QUALIFICATION:

The ACCA Foundation or FIA consists of three main levels, these introductory papers of FIA consist of subjects like business, fundamental accounting, and finance. The papers of the ACCA foundation in Zimbabwe are:

  • FA1, Recording financial transactions
  • FA2, Management information
  • FMA, Financial management
  • FFA, Financial Accounting

These exams help the student to build a basic understanding of accounting, enabling them to proceed further in ACCA qualification’s Applied skills level. The ACCA foundation in accountancy helps the student to gain practical skills, basic knowledge, and management required in ACCA. 

DURATION OF COMPLETION OF ACCA FOUNDATION OR FIA

The duration of completion of the FIA qualification is not predetermined as it completely depends on a student’s study pace, exam preparation, and number of exams attempted. Hence, the time may vary from student to student. However, typically it takes around 12 to 18 months to complete the foundation in Accountancy (FIA), the duration of completion may be extended if the student has work commitments.

A part-time student’s attention and time is divided leading them to take longer to complete the qualification, typically about 2 to 3 years. Another factor that contributes to students completing the qualification in different durations is that some students take one or two exams per session while others may take more.

STUDY OPTIONS FOR ACCA FOUNDATION LEVEL:

There are various options available for ACCA in Zimbabwe for students to prepare themselves for ACCA foundation qualification. Students can avail Self-study option which is very common amongst the students preparing for ACCA foundation qualification. In self-study, students prepare independently for ACCA foundation exams by taking help from ACCA-approved study materials, textbooks, and online resources. Self-study offers flexibility to students to study at their own pace and complete exams accordingly.

Other than that there are various course providers in Zimbabwe offering ACCA foundation courses online for example: Mirchawala’s Hub of Accountancy. They offer structured study programs, study materials, mock exams, and video lectures to the students for a better understanding of the course. Online options are very flexible for the students, enabling working students to concentrate on their studies as well. Apart from that there is also an option of personalized tutor’s guidance in which the teacher entertains the student’s concerns individually giving them a safe space to learn more effectively. 

WHAT IS POST-FIA PROGRESSION TO ACCA?

After completing the FIA or ACCA foundation a student may move on to the ACCA qualification Applied knowledge and Applied skills levels. Once the student has completed that he may move on to further study level of ACCA such as Strategic Professional level. The strategic professional level is the final part or level of ACCA qualification globally.

FINANCIAL CONSIDERATIONS FOR ACCA FOUNDATION QUALIFICATION:

The cost can not be predetermined as it varies in accordance with the tuition provider the student chose, study method (online or in-person), and exam fee depending upon the number of attempts. ACCA exam fees are usually paid per exam on each attempt. There are other additional costs as well, for example: textbooks, accommodation (if you opt for in-person classes), and study materials (if not provided by the tuition provider).

KEY CONSIDERATIONS:

  • Students should allocate sufficient time to the studies to learn the complex concepts effectively, students are advised to create a structured study plan or schedule.
  • Students need to clear the ACCA foundation qualification first to progress towards the ACCA qualification. The exams can be in multiple formats such as; computer-based exams and paper-based exams.
  • The primary language of ACCA exams is English, so make sure the study material and resources you are learning from are in English.

TIPS FOR ZIMBABWEAN STUDENTS OF ACCA FOUNDATION:

  • If you are looking for tuition providers in Zimbabwe there are various options like (Mirchawala’s Hub of Accountancy, BPP learning, and Kaplan) Online studies are way more flexible than in-person classes and provide learning resources like study materials and recorded lectures to the students for better understanding of the course.
  • You can also look for peer support, by networking and connecting to fellow ACCA students through online ACCA learning platforms in Zimbabwe, study clubs, etc. This provides you with the motivation and insights on changing trends.

SUMMARY OF THE TIMEFRAME REQUIRED TO COMPLETE THE QUALIFICATION:

ACCA foundation level or FIA takes about 12-18 months for full-time students to complete, whereas about 2-3 years for a part-time student.

Post-FIA qualification or full ACCA qualification typically takes about 3-4 years to complete however, it may vary depending on the study pace of the students. 

CONCLUSION: 

The duration for ACCA foundation qualification in Zimbabwe may vary depending on student to student. The reason for the distinctive duration for completion of qualification is different study methods, study pace, commitment, and study plans. It is nearly impossible to determine the exact duration for completion of the course. However, usually it takes 12-18 months for full-time students and 2-3 years for part-time students. The students are advised to stay committed to their studies, join study groups to network with fellow peers, and stay consistent.