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Study Resources: Foundation Unit (Student)

The aim of this paper is to develop and examine the candidate’s knowledge and understanding of:

  • the theory of accounting and its application to practical situations

  • fundamental elements of corporate governance & audit and the inter-relationship of these areas

  • the fundamentals of management and cost accounting, how to apply these to the control of operations, and the provision of information to assist the management decision-making process

  • business management and the role of the manager in business organisations

Subjects

Learning outcomes:

  1. Explain and identify accounting concepts and the regulatory purpose of accounting standards
  2. Describe, prepare and summarise basic accounting records
  3. Identify accounting concepts in presenting financial statements for sole traders and limited companies
  4. Describe and explain the financial position and performance of an organisation

Learning outcomes:

  1. Identify and explain the purpose of corporate governance and auditing
  2. Explain the inter-relationship between corporate governance and auditing
  3. Relate the contribution of corporate governance and auditing to the safeguarding of capital markets

Learning outcomes:

  1. Explain the role of management and cost accounting within an organisation
  2. Describe the nature of costs and how and why they are classified in different ways for different purposes
  3. Calculate material, labour, expense and overhead costs for products, processes, services and functions
  4. Identify and discuss appropriate principles and techniques to advise managers on short-term and long-run decision-making

Learning outcomes:

  1. Describe the major schools of management thought, their development and their implications
  2. Explain the key aspects of organisational structure and design
  3. Identify the nature and importance of managerial control, including the main elements and types of control in the business organisation and the role and importance of management information in the control process
  4. Describe the use of information technology in modern business management

Revision

The syllabus and recommended reading is designed to help with planning study and to provide detailed information on what could be assessed in any examination session, including topic weighting.

Download the Syllabus

AIA Achieve Academy is a fully integrated online learning platform which provides you with a structured programme of study for all papers within the AIA professional qualification.

The course is designed to offer an integrated programme of study, with specific study periods, to allow you to progress and acquire the subject specific knowledge and competencies, these periods are linked to the Learning & Practice Workbooks (L&PW).For the Foundation unit you will receive access to a book per component.

You start with Study Period 1 and progress until you have completed all study periods, practice test questions, check point tests, participated in the workshops, reviewed the articles and lectures as well as conducting independent research, before you sit the mock exam.

Find Out More

AIA produce a range of technical and guidance articles specifically for students, which are published within International Accountant magazine and Student Focus and should be used for learning and revision.

Read More

Assessment & Award

Assessment is by a three-hour online exam consisting of 100 questions. There are 25 objective test style questions in the form of multiple-choice questions covering each component area of study in the foundation syllabus.

The assessment is in four foundational areas of knowledge and understanding: Financial Accounting, Corporate Governance and Audit, Management Accounting and Business Management.

Read Online Exams Advice

Once you have passed the AIA Foundation Unit integrated exam you will be awarded the AIA Certificate in Accountancy.

This Certificate is attainable in 6-12 months depending on prior learning.

AIA offers a qualification and membership pathway for everyone.

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