Try something new
What other qualifications does ACCA offer?
17 Jul 2008
Most learning providers will be well-versed in the benefits of teaching and offering the CAT and ACCA qualifications, but what about qualifications that focus on one element of accounting, or that bring accountancy to an entirely new audience?
The Diploma in International Financial Reporting (DipIFR) and the Diploma in Financial Management (DipFM) are both qualifications available through ACCA that can offer both you and your students something new to think about. 'By utilising existing resources, tuition providers can offer a wide range of ACCA qualifications,' explains Clare Minchington, ACCA's managing director - learning and technical policy. 'In an increasingly competitive market it is vital for institutions to diversify to reach new audiences.'
DipIFR is designed to develop candidates' knowledge of IFRS and its application in the international marketplace, and to build on their technical knowledge and practical know-how acquired from country-specific accounting qualifications or work experience. 'International standards are where accountancy is heading,' says Stephen Milton of the UK Office for National Statistics, who completed the DipIFR in 2005. 'DipIFR gave me an additional qualification which demonstrates my knowledge of current practices and developments.' The syllabus addresses IFR and first-time application of IFRS within five key topic areas.
Designed to be completed in three to six months, the DipIFR is an open-learning course. However, it is ideal for classroom-based tuition, with tuition providers being able to supply the additional support and services that study material alone cannot provide. The study material has been developed with specialist publisher ATC International and includes 30 focused study sessions, a revision question bank and a mock exam. The qualification is assessed by a single three-hour written exam.
As the DipIFR is aimed at professionally-qualified accountants, this is a qualification that can be offered to your past ACCA students - especially if they qualified under national accounting standards - and may even help them to fulfil their CPD requirements, as ACCA members can claim up to 42 verifiable units. Use your alumni contacts to target them with information about DipIFR.
Ready to teach non-accountants?
The DipFM is aimed at middle or senior managers working in non-accounting roles, but who will have some kind of financial responsibility - whether it is managing budgets, cost centres or interpreting financial statements. Teaching finance to non-finance professionals will help build your reputation as a tuition provider within other professions and employment sectors, and may provide the opportunity for cross-selling other products and qualifications. As David Maxwell, project director for GSM Association in Ireland, explains: 'I found my skills were adequate in relation to technical matters, but needed to be improved in the various business and commercial areas required of my role. The DipFM helped to fill this gap in my skills and provided me with the knowledge to broaden and develop my career.' Maxwell completed the DipFM in June 2007.
Aiming to achieve a level of practical understanding that is genuinely useful for students in the workplace, the DipFM covers a range of key areas, including how to interpret financial statements, plan, manage and measure performance using budgets and other financial techniques, make financial decisions, manage financial risk and develop an understanding of corporate governance. Using a combination of exams and project-based assignments, the exam timetable follows the ACCA Qualification with sittings in June and December.
Although the DipFM can be taken as a self-study programme, ACCA strongly advises students to obtain further tutorial support. Tuition providers can offer the diploma through part-time, full-time or correspondence courses. There is no time limit to completing the qualification and it is possible to complete the course after just one year of study - students are then awarded a recognised qualification by ACCA.
More information can be found at www.accaglobal.com/join for those interested in offering these additional qualifications at their institutions. If further support is required, please contact your local ACCA office.