Institute of Financial Accountants (IFA)

Course Information

As a leading specialist institute for accountants and financial managers, the IFA provides finance professionals with the tools and innovative professional qualifications to enable them to understand what makes a business tick – and much more to equip you to work effectively in an SME or accountancy practice.

Financial Accountant Diploma Qualification level 4

Professional Financial AccountantQualification level 5

Five Modules to complete:D1. Financial Accounting
D2. Business Finance
D3. Management of Systems and Performance
D4. Principles of Taxation
D5. Ethics in the Workplace (3 hour workshop)

On successful completion: Enables individuals to use the designation “Dip FA” and describe themselves as a “Financial Accounting Executive”, as an IFA member.

Six Modules to complete:P1. Financial Accounting and IFRS for Small & Medium Size Enterprises (SMEs)
P2. Financial Management
P3. Management and Control Systems
P4. Professional Skills for SMEs
P5. Business and Regulatory Environment
P6. The Ethical Professional(4 hour workshop)

On Successful completion: Enables individuals to become IFA Associate members, use the designation “AFA” and describe themselves as an “Incorporated Financial Accountant”.

Entry requirements:

• a level 3 or equivalent qualification in a finance, accounting or book-keeping discipline for Diploma level
• a relevant degree or HND, or equivalent qualification, at least two years’ workplace experience in finance or accounting role for Professional Level; and English language skills that allow students to express themselves in exam conditions.
• Students need to be fluent in English unless course is undertaken in a country where English is not the spoken or first language. The required level of Competency in English language is a minimum of level B1 on the Common European Framework of Reference (CEFR) in each of the four components of language learning (reading, writing, listening and speaking)

Assessment:Each module will be assessed by a traditional written 3 hours examination which will be scheduled by the Institute of Financial Accountants at Manchester College of IT & Business. The pass mark is 50%

Duration: 2 Academic Years

Fee:Tuition fee for Diploma and Professional level is £ 3,000 per year.

Students are expected to pay IFA’s initial registration and annual fee which is £ 88 pounds at the moment. The students also have to pay £ 35 exam fee for each module. Please visit IFA’s website http://www.ifa.org.uk/education/exam-fees for the latest information on student fees.

Progression:A degree partnership with University of Boltonwill provide IFA members and students with a route to a BA (Honours) in Accountancy. This partnership offers an intellectually stimulating and highly relevant opportunity for Associate and Fellow Members of the IFA (who have gained membership via the IFA examination route) to gain a BA (Honours) Degree in Accountancy awarded by the University of Bolton. Graduating Associate members will be eligible to apply for Fellowship of the IFA.Joining as an Associate or Fellow Member of the IFA you will study the following four modules in the Final Year.

• Management Accounting Control Systems
• Financial Reporting and the Regulatory Framework
• Corporate Strategy
• Project Module - Accounting Theory and Practice

Exemptions:
The IFA considers exemptions for prior learning. Please check the website of IFA for guidance.