CREDITS FOR PRIOR LEARNING
These are exemptions that students holding qualifications from the listed awarding bodies can apply for because they have prior knowledge of the study material.
ASSOCIATION OF CHARTERED CERTIFIED ACCOUNTANTS (ACCA)
Students and Affiliates from Association of Chartered Certified Accountants (ACCA), might be eligible to apply for the following credits. These are credits that ICAM in collaboration with the Institute of Chartered Accountants in England and Wales (ICAEW) have agreed on. You will recall that ICAM is being supported by ICAEW which is a leading global accountancy body in setting up this qualification.
AVAILABLE CREDITS
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Subject (ICAM) |
Qualifiers and Criteria (ACCA) |
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B6 |
Business Strategy |
P1 |
Governance, Risks and Ethics |
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P3 |
Business Analysis |
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B5 |
Public Sector & Finance |
P6 |
Advanced Taxation |
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B4 |
Tax Compliance |
P6 |
Advanced Taxation |
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B3 |
Audit & Assurance |
P7 |
Advance Audit and Assurance |
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P1 |
Governance, Risk and Ethics |
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B2 |
Financial Accounting & Reporting |
F7 |
Financial Reporting |
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P1 |
Governance, Risk and Ethics |
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P2 |
Corporate Reporting |
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B1 |
Financial Management |
F9 |
Financial Management – If you have |
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received a converted pass in F( you will also |
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need paper P4 Advanced Financial |
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Management. |
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P1 |
Governance, Risk and Ethics |
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P7 Business & Finance |
F1 |
Accountant in Business |
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F3 |
Financial Accounting |
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P6 Principles of Taxation |
F6 |
Taxation |
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P5 Assurance |
F8 |
Audit and Assurance |
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P3 Management Information |
F2 |
Management Accounting |
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P2 Legal Framework |
F4 Corporate and Business Law |
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P1 Accounting Framework |
F3 Financial Accounting |
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Available credits for Certified Accounting Technician from ACCA |
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Subject (ICAM) |
Qualifiers and Criteria (ACCA) |
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P1 Accounting Framework |
Completion of CAT including modules |
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FA1 recording Financial Transactions |
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FA2 Maintaining Financial Records |
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FFA Financial Accounting |
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P3 Management Information |
Completion of CAT, including modules |
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MA1 Management Information |
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MA2 Managing Cost and Finance |
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FMA/F2 Management Accoutning |
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P5 Assurance |
Completion of CAT qualification, Including |
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Modules |
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FAU Foundations in Audit (CAT) |
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P7 Business & Finance |
Completion of CAT |
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Available credits for those with Foundations in Accountancy from ACCA |
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Subject (ICAM) |
Qualifiers and Criteria (ACCA) |
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P1 Accounting Framework |
FA1 Recording Financial Transactions |
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FA2 Maintaining Financial Records |
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FFA Financial Accounting |
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P3 Management Information |
MA1 Management Information |
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MA2 Managing Cost and Finance |
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FMA Management Accounting |
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P7 Business and Finance |
FAB Accountant in Business |
CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS (CIMA)
Holders of Certificates/qualification/passes obtained from the Chartered Institute of Management Accountants (CIMA), might be eligible to apply for the following credits. These credits have been agreed upon by ICAM and the Institute of Chartered Accountants in England and Wales (ICAEW). ICAM is being supported by ICAEW which is a leading global accountancy body in setting up the Chartered Accountant Malawi (CA (M)) qualification.
AVAILABLE CREDITS FOR CIMA 2010 SYLLABUS PROFESSIONAL QUALIFICATION
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Subject (ICAM) |
Should have passed the following papers in |
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CIMA |
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B6 Business Strategy |
F2 Financial Management |
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P1 |
Performance Operations |
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P2 |
Performance Management |
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P3 |
Performance Strategy |
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E1 Enterprise Operations |
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E2 Enterprise Management |
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E3 Enterprise Strategy |
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B1 Financial Management |
F2 Financial Management |
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F3 |
Financial Strategy |
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P1 |
Performance Operations |
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P3 |
Performance Strategy |
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P7 Business & Finance |
F1 Financial Operations |
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F2 |
Financial Management |
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P1 |
Performance Operations |
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P2 |
Performance Management |
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P3 |
Performance Strategy |
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E1 Enterprise Operations |
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E2 Enterprise Management |
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P3 Management Information |
F2 Financial Management |
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P1 |
Performance Operations |
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P2 |
Performance Management |
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P1 Accounting Framework |
F1 Financial Operations |
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F2 |
Financial Management |
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AVAILABLE CREDITS FOR CIMA 2005 SYLLABUS PROFESSIONAL QUALIFICATION
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Subject (ICAM) |
Should have passed the following papers in CIMA |
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B6 Business Strategy |
Integrated Management |
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Management Accounting Business Strategy |
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Organizational Management and Information Systems |
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B2 Financial Accounting & Reporting |
Financial Accounting and Tax Principles |
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Financial Analysis |
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B1 Financial Management |
Management Accounting Decision Making |
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Management Accounting Risk and Control Strategy |
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Management Accounting Financial Strategy |
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P7 |
Business and Finance |
Certificate in Business Accounting |
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P3 |
Management Information |
Certificate in Business Accounting |
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Management Accounting Decision Making. |
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P1 |
Accounting Framework |
Certificate in Business Accounting |
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AVAILABLE CREDITS FOR CIMA 2011 SYLLABUS CERTIFICATE IN BUSINESS |
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ACCOUNTING |
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Subject (ICAM) |
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Should have passed the following papers in |
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CIMA |
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P1 |
Accounting Framework |
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Certificate in Business Accounting |
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P7 |
Business and Finance |
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Certificate in Business Accounting |
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AVAILABLE CREDITS FOR CIMA 2005 SYLLABUS CERTIFICATE IN BUSINESS |
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ACCOUNTING |
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Subject (ICAM) |
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Should have passed the following papers in |
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CIMA |
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P1 |
Accounting Framework |
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Certificate in Business Accounting |
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P7 |
Business and Finance |
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Certificate in Business Accounting |
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OTHER AWARDING BODIES
The Institute of Chartered Accountants in Malawi (ICAM) wishes to inform prospective students who hold passes in examinations administered by the under-listed examining /professional bodies that they can register with ICAM and gain exemptions as follows:
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NAME OF INSTITUTION AND PAPER PASSED |
EXEMPTION GRANTED BY ICAM |
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Institute of Commercial Managers (ICM) |
Exempted Business Communication (FA1) at |
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Certificate in Financial Accounting (CIFA). |
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International Business Communications |
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Pitman |
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Book-keeping Level 2 |
Exempted Business Accounting (FA4) at Certificate |
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in Financial Accounting (CIFA). |
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Royal Society of Arts (RSA) |
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Business Accounting (FA4) at CIFA |
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Book-Keeping 1 & Accounting II |
Accounting/1 (TC1) at Technician Level |
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London Chamber of Commerce and Industry |
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(LCCI) |
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Business Accounting (FA4) at CIFA |
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i. |
Practical Book-keeping |
Accounting/1 (TC1) at Technician Level |
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ii. Book-keeping & Accounting |
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INSTITUTE OF COMMERCIAL MANAGERS (ICM) |
Subject to be exempted from at Technician level |
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i. |
Accounting 1 |
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Accounting/1 (TC1) |
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ii. |
International Business Communication |
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Communication (TC2) |
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iii. |
Numeracy & Accounting |
iii. |
Business Maths & Statistics (TC3) |
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iv. |
Economics for Business |
iv. |
Economics (T5) |
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v. |
Business Law |
v. |
Business Law (TC8) |
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vi. Management Theory & Practice |
vi. Management (TC11) |
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Institute of Bankers |
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Certificate in Banking (IOB) |
All CIFA subjects and Accounting/1 (TC1) and |
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Communication (TC2) at Technician. |
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Association of Business Executives |
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i. |
Level 4 |
i. |
All CIFA subjects Accounting/1 (TC1) and |
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Communication (TC2) at Technician. |
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All CIFA subjects |
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ii. |
Level 5 |
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Accounting /1 (TC1) |
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Communication (TC2) |
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Business Law (TC8) |
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iii. |
Level 6 |
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All CIFA subjects |
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Accounting /1 (TC1) |
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Communication (TC2) |
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Economics (TC5) |
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Business Law (TC8) |
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Pitman |
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Accounting Level 3 |
Accounting/1 (TC1) |
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Association of Computer Professionals (ACP) |
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ACP Diploma |
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Information Systems |
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Institute of Company Accountants (IcomA) |
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i. |
Financial Accounting 1 |
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Accounting/1 (TC1) |
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ii. |
Economics & Business Environment |
ii. |
Economics (TC5) |
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iii. |
Information Technology |
iii. |
Information Systems |
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Certified Accounting Technician (CAT – ACCA) |
Technician diploma |
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Recording Financial Transactions & |
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Accounting/1 |
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Maintaining Financial Records |
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Information for Management Control |
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Communication |
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Managing People and Systems |
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Information Systems |
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Foundations in Accountancy from ACCA |
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Recording Financial Transactions (FA1 |
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Accounting Framework (P1) |
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Maintaining Financial Records (FA2) |
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Financial Accounting (FFA) |
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Successfully passing the Foundation |
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Business and Finance |
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Successfully passing all modules listed |
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Management Information |
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below |
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§ |
Management Information (MA1) |
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§ Managing Cost and Finance (MA2) |
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§ |
Management Accounting (FMA) |
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Association of Accounting Technicians (AAT) |
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based on 2010 qualification onwards. |
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Level 3 Accounts Preparation 1 & II |
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Accounting |
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· Level 4 Financial Statements |
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Level 4 External Auditing |
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Assurance |
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Level 2/3 Professional Ethics in |
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Business and Finance |
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Accounting and Finance |
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· Level 3 Cash Management |
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· Level 3 Costs and Revenues |
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· Level 4 Financial Performance |
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Level 3 Cash Management |
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Management Information |
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· Level 3 Costs and Revenue |
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Level 4 Budgeting |
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· Level 4 Financial Performance |
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Association of Accounting Technicians (AAT) |
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based on 2013 qualification onwards. |
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Level 3 Accounts Preparation |
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Accounting |
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· Level 3 Prepare Final Accounts for Sole |
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Traders and Partnerships |
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· Level 4 Financial Statements |
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· |
Level 4 External Auditing |
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Assurance |
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· |
Level 3 Professional Ethics |
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Business and Finance |
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· Level 3 Costs and Revenues |
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· Level 4 Financial Performance |
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· Level 3 Costs and Revenue |
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· |
Level 4 Budgeting |
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Management Information |
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· |
Level 4 Financial Performance |
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NOTE:
- Students applying for the Technician diploma need to have credit passes in English and Mathematics on their Malawi School Certificate of Education (MSCE).
- Holders of the Public Accountants Examination Council of Malawi (PAEC) Foundation Stage Certificate and wish to obtain the Institute of Chartered Accountants in Malawi Technician diploma will be offered exemptions from eight subjects namely: Accounting/1(TC1), Communication (TC2), Business Mathematics & Statistics (TC3), Information Systems (TC4), Economics (TC5), Business Law (TC8), Management (TC11) and Company Law (TC12). As such, they will only sit
- Accounting/2 (TC6)
- Auditing (TC7)
- Costing and Budgetary Control (TC9)
- Taxation (TC10)
3.Grades from International General Certificate of Secondary Education (IGSCE) are equated to the Malawi School Certificate of Education as follows:
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IGCSE |
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MSCE |
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A* grade |
= |
1 point |
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A grade |
= |
2 points |
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B grade |
= |
3/4 points |
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C grade |
= |
5/6 points |
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D grade |
= |
7 points |
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E grade |
= |
8 points |
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F/G grades |
= |
9 points |