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

Subject (ICAM)

Qualifiers and Criteria (ACCA)

B6

Business Strategy

P1

Governance, Risks and Ethics

 

 

P3

Business Analysis

B5

Public Sector & Finance

P6

Advanced Taxation

 

 

 

 

B4

Tax Compliance

P6

Advanced Taxation

 

 

 

 

B3

Audit & Assurance

P7

Advance Audit and Assurance

 

 

P1

Governance, Risk and Ethics

B2

Financial Accounting & Reporting

F7

Financial Reporting

 

 

P1

Governance, Risk and Ethics

 

 

P2

Corporate Reporting

B1

Financial Management

F9

Financial Management – If you have

 

 

received a converted pass in F( you will also

 

 

need paper P4 Advanced Financial

 

 

Management.

 

 

P1

Governance, Risk and Ethics

P7 Business & Finance

F1

Accountant in Business

 

 

F3

Financial Accounting

P6 Principles of Taxation

F6

Taxation

 

 

 

P5 Assurance

F8

Audit and Assurance

 

 

 

P3 Management Information

F2

Management Accounting

 

 

 

P2 Legal Framework

F4 Corporate and Business Law

 

 

P1 Accounting Framework

F3 Financial Accounting

 

 

Available credits for Certified Accounting Technician from ACCA

 

 

Subject (ICAM)

Qualifiers and Criteria (ACCA)

P1 Accounting Framework

Completion of CAT including modules

 

FA1 recording Financial Transactions

 

FA2 Maintaining Financial Records

 

FFA Financial Accounting

P3 Management Information

Completion of CAT, including modules

 

MA1 Management Information

 

MA2 Managing Cost and Finance

 

FMA/F2 Management Accoutning

P5 Assurance

Completion of CAT qualification, Including

 

Modules

 

FAU Foundations in Audit (CAT)

P7 Business & Finance

Completion of CAT

Available credits for those with Foundations in Accountancy from ACCA

 

 

Subject (ICAM)

Qualifiers and Criteria (ACCA)

P1 Accounting Framework

FA1 Recording Financial Transactions

 

FA2 Maintaining Financial Records

 

FFA Financial Accounting

P3 Management Information

MA1 Management Information

 

MA2 Managing Cost and Finance

 

FMA Management Accounting

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

Subject (ICAM)

Should  have  passed  the  following  papers  in

 

CIMA

 

 

B6 Business Strategy

F2 Financial Management

 

P1

Performance Operations

 

P2

Performance Management

 

P3

Performance Strategy

 

E1 Enterprise Operations

 

E2 Enterprise Management

 

E3 Enterprise Strategy

 

 

B1 Financial Management

F2 Financial Management

 

F3

Financial Strategy

 

P1

Performance Operations

 

P3

Performance Strategy

 

 

P7 Business & Finance

F1 Financial Operations

 

F2

Financial Management

 

P1

Performance Operations

 

P2

Performance Management

 

P3

Performance Strategy

 

E1 Enterprise Operations

 

E2 Enterprise Management

 

 

P3 Management Information

F2 Financial Management

 

P1

Performance Operations

 

P2

Performance Management

P1 Accounting Framework

F1 Financial Operations

 

F2

Financial Management

 

 

 

AVAILABLE CREDITS FOR CIMA 2005 SYLLABUS PROFESSIONAL QUALIFICATION

 

Subject (ICAM)

Should have passed the following papers in CIMA

 

 

B6 Business Strategy

Integrated Management

 

Management Accounting Business Strategy

 

Organizational Management and Information Systems

 

 

 

B2 Financial Accounting & Reporting

Financial Accounting and Tax Principles

 

 

Financial Analysis

 

 

 

B1 Financial Management

Management Accounting Decision Making

 

 

Management Accounting Risk and Control Strategy

 

 

Management Accounting Financial Strategy

 

 

 

 

P7

Business and Finance

Certificate in Business Accounting

 

 

 

 

P3

Management Information

Certificate in Business Accounting

 

 

Management Accounting Decision Making.

 

 

 

 

P1

Accounting Framework

Certificate in Business Accounting

 

 

 

AVAILABLE  CREDITS  FOR  CIMA  2011  SYLLABUS  CERTIFICATE  IN  BUSINESS

ACCOUNTING

 

 

 

 

 

Subject (ICAM)

 

Should  have  passed  the  following  papers  in

 

 

 

CIMA

 

 

 

 

P1

Accounting Framework

 

Certificate in Business  Accounting

 

 

 

 

P7

Business and Finance

 

Certificate in Business Accounting

 

 

AVAILABLE  CREDITS  FOR  CIMA  2005  SYLLABUS  CERTIFICATE  IN  BUSINESS

ACCOUNTING

 

 

 

 

 

Subject (ICAM)

 

Should  have  passed  the  following  papers  in

 

 

 

CIMA

 

 

 

 

P1

Accounting Framework

 

Certificate in Business Accounting

 

 

 

 

P7

Business and Finance

 

Certificate in Business Accounting

 

 

 

 

 

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:

NAME OF INSTITUTION AND PAPER PASSED

EXEMPTION GRANTED BY ICAM

 

 

Institute of Commercial Managers (ICM)

Exempted Business Communication (FA1) at

 

 

Certificate in Financial Accounting (CIFA).

International Business Communications

 

 

Pitman

 

 

 

Book-keeping Level 2

Exempted Business Accounting (FA4) at Certificate

 

 

in Financial Accounting (CIFA).

Royal Society of Arts (RSA)

 

 

 

 

Business Accounting (FA4) at CIFA

Book-Keeping 1 & Accounting II

Accounting/1 (TC1) at Technician Level

London Chamber of Commerce and Industry

 

 

(LCCI)

 

Business Accounting (FA4) at CIFA

i.

Practical Book-keeping

Accounting/1 (TC1) at Technician Level

ii.  Book-keeping & Accounting

 

 

INSTITUTE OF COMMERCIAL MANAGERS (ICM)

Subject to be exempted from at Technician level

i.

Accounting 1

i.

Accounting/1 (TC1)

ii.

International Business Communication

ii.

Communication (TC2)

iii.

Numeracy & Accounting

iii.

Business Maths & Statistics (TC3)

iv.

Economics for Business

iv.

Economics (T5)

v.

Business Law

v.

Business Law (TC8)

vi.  Management Theory & Practice

vi.  Management (TC11)

 

 

 

Institute of Bankers

 

 

Certificate in Banking (IOB)

All CIFA subjects and Accounting/1 (TC1) and

 

 

Communication (TC2) at Technician.

Association of Business Executives

 

 

i.

Level 4

i.

All CIFA subjects Accounting/1 (TC1) and

 

 

 

Communication (TC2) at Technician.

 

 

·

All CIFA subjects

ii.

Level 5

·

Accounting /1 (TC1)

 

 

·

Communication (TC2)

 

 

·

Business Law (TC8)

 

 

 

 

 

iii.

Level 6

 

·

All CIFA subjects

 

 

 

 

·

Accounting /1 (TC1)

 

 

 

 

·

Communication (TC2)

 

 

 

 

·

Economics (TC5)

 

 

 

 

·

Business Law (TC8)

 

 

 

 

 

 

 

Pitman

 

 

 

 

 

Accounting Level 3

Accounting/1 (TC1)

 

Association of Computer Professionals (ACP)

 

 

 

ACP Diploma

 

Information Systems

 

Institute of Company Accountants (IcomA)

 

 

 

i.

Financial Accounting 1

i.

Accounting/1 (TC1)

 

ii.

Economics & Business Environment

ii.

Economics (TC5)

 

iii.

Information Technology

iii.

Information Systems

 

 

 

 

Certified Accounting Technician (CAT – ACCA)

Technician diploma

 

·

Recording Financial Transactions &

·

Accounting/1

 

 

Maintaining Financial Records

 

 

 

·

Information for Management Control

·

Communication

 

·

Managing People and Systems

·

 

 

 

 

 

Information Systems

 

 

 

 

 

Foundations in Accountancy from ACCA

 

 

 

·

Recording Financial Transactions (FA1

·

Accounting Framework (P1)

 

·

Maintaining Financial Records (FA2)

 

 

 

·

Financial Accounting (FFA)

 

 

 

·

Successfully passing the Foundation

·

Business and Finance

 

·

Successfully passing all modules listed

·

Management Information

 

 

below

 

 

 

 

 

§

Management Information (MA1)

 

 

 

 

§  Managing Cost and Finance (MA2)

 

 

 

 

§

Management Accounting (FMA)

 

 

 

 

 

 

 

 

 

 

Association of Accounting Technicians (AAT)

 

 

 

based on 2010 qualification onwards.

 

 

 

·

Level 3 Accounts Preparation 1 & II

·

Accounting

 

·  Level 4 Financial Statements

 

 

 

·

Level 4 External Auditing

·

Assurance

 

·

Level 2/3 Professional Ethics in

·

Business and Finance

 

 

Accounting and Finance

 

 

 

·  Level 3 Cash Management

 

 

 

·  Level 3 Costs and Revenues

 

 

 

·  Level 4 Financial Performance

 

 

 

·

Level 3 Cash Management

·

Management Information

 

·  Level 3 Costs and Revenue

 

 

 

·

Level 4 Budgeting

 

 

 

·  Level 4 Financial Performance

 

 

 

 

 

 

 

Association of Accounting Technicians (AAT)

 

 

 

based on 2013 qualification onwards.

 

 

 

·

Level 3 Accounts Preparation

·

Accounting

 

·  Level 3 Prepare Final Accounts for Sole

 

 

 

 

Traders and Partnerships

 

 

 

·  Level 4 Financial Statements

 

 

 

·

Level 4 External Auditing

·

Assurance

 

·

Level 3 Professional Ethics

·

Business and Finance

 

·  Level 3 Costs and Revenues

 

 

 

·  Level 4 Financial Performance

 

 

 

·  Level 3 Costs and Revenue

 

 

 

·

Level 4 Budgeting

·

Management Information

 

·

Level 4 Financial Performance

 

 

 

 

 

 

 

 

 

NOTE:

  1. Students applying for the Technician diploma need to have credit passes in English and Mathematics on their Malawi School Certificate of Education (MSCE).
  2. 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:

 

IGCSE

 

MSCE

A* grade

=

1 point

A grade

=

2 points

B grade

=

3/4 points

C grade

=

5/6 points

D grade

=

7 points

E grade

=

8 points

F/G grades

=

9 points