Towards Chartered accountancy
ICAEW CFAB consists of the same modules as the first level of our world-leading chartered accountancy qualification, the ACA
You could study ICAEW CFAB as part of your journey towards a stable, varied and lucrative career in chartered accountancy or any area of business. Many of the largest and most successful companies in the world are led and managed by chartered accountants. They can work anywhere across the globe and those who hold the ACA qualification are among some of the most respected professionals in the world.
The chartered accountancy profession is strong and ACA qualified chartered accountants earn good salaries and play key roles in every sector of the economy – from retail to travel, from sports to fashion and from manufacturing to advising governments around the world.
If you start studying for ICAEW CFAB while you are looking for an ACA training vacancy, it can help give you a competitive edge in the job market. Having the ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) on your CV/career résumé can help to show employers that you are serious about a career in finance and business, and that you are ambitious and self-motivated – all great qualities that employers will look for in any candidate and at any role.
ICAEW CFAB and ACA – what’s the difference
ICAEW CFAB: The ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) consists of six exams which cover the essentials in finance, accounting and business. There are no compulsory work experience requirements linked to gaining ICAEW CFAB. Completion of this certificate-level qualification does not entitle the student to call themselves an ICAEW member and it does not provide the student with any designatory letters after their name. ICAEW CFAB can serve as a stand alone qualification or as an entry route into the ACA qualification because it is the same exam modules as the first level of the ACA.
ACA: The ACA consists of four integrated components:
- 450 days of practical work experience
- 15 exams – providing an in-depth understanding of business, finance and accounting
- Professional scepticism and ethics
- Professional skills development requirements – gained through on-the-job training
All of these elements must be completed while the student is working in an ACA training agreement within an organisation that is approved by ICAEW to train ACA students. It is essential to complete all these four components to gain the ACA qualification.
Once a student has completed all of these elements, they are able to gain membership and qualify as an ICAEW Chartered Accountant. They are then entitled to use the ACA designatory letters after their name.