Why Choose ICAEW?

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How to become a chartered accountant?

To qualify as an ICAEW Chartered Accountant you must complete the ACA, a highly-respected professional qualification that requires students to complete at least three years on-the-job training while passing a series of exams. Options to complete elements of the ACA qualification include: ICAEW apprenticeships, undergraduate degrees, postgraduate qualifications, ICAEW Certificate in Finance, Accounting and Business and joint programmes with other professional bodies.

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ACA Qualification

The ACA qualification is made up of four elements which provide students with a combination of finance knowledge, accountancy skills and real-world business experience. They are:

  • 450 days of practical work experience
  • 15 exam modules
  • Professional development
  • Ethics and professional scepticism

Element of the ACA wheel

Exam modules:

  • ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB)
  • ACA qualification

Requirements

Your options will depend upon your starting point. Please review the ICAEW website to find a route appropriate for you.

Supported by a quality training provider

Reed Business School is an approved ICAEW learning partner, which means you can expect to receive high quality tuition and excellent student support, in a comfortable environment conducive to studying. Reed Business School is required to meet ICAEW best practice benchmarks relating to the institution and course management, course delivery and student support. We publish all our student pass rates that regularly exceed national first time pass rates across all subjects.

Flexibility to chose your own path

Reed Business School offer hybrid training, with classroom-based tuition or remote live-online classes. These run in conjunction with each other allowing for greater flexibility in learning. This hybrid approach enables both classroom and remote live-online students to hear and interact with one another and verbally contribute to the whole class.

We provide a recommended study route for students commencing their studies with a September and January start date. Our study programme is made up of cohorts and most students will remain within the same group throughout their studies. Coupled with our consistent and caring tutor team and the options of staying at the Business School on a residential basis, encourages students to support one another whilst both at the Business School and when home studying.

Our study programme is only a suggested route and students who have exemptions or require different study route can contact us to discuss an alternative study path. We recommend the study programme and annual planner are viewed together for an overview of the whole qualification and detailed course dates for the coming year.

Apprenticeships

Reed Business School is listed on the Government Register of Apprenticeship Training Providers and approved to deliver apprenticeship training. Student can study ICAEW CFAB (Level 4) or the full ICAEW ACA qualification (Level 7) under an Apprenticeship programme. Find out more.

At a glance

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ICAEW CFAB is a qualification that teaches essential knowledge in finance, accounting and business, and it is recognised by organisations all over the world. The Certificate in Finance, Accounting and Business (ICAEW CFAB) is ideal for anyone who either works, or wants to work, in business or practice including school leavers, graduates and existing employees with experience in the workplace.

The ICAEW CFAB is a stand-alone qualification in its own right – demonstrating on a CV that a qualification in the basics of business and finance. It also provides an option to progress further to the even more prestigious ACA qualification, and to becoming a ‘Chartered Accountant’ with the Institute of Chartered Accountants in England and Wales (ICAEW).

There are six modules that you are required to pass (or successfully claim exemption from due to Prior Learning) in order to complete the qualification and they can be attempted in any order and are assessed via computer-based assessment at a local exam-centre.

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Accounting

In this module you will learn about:

  • maintaining financial records;
  • making adjustments to accounting records and financial statements;
  • preparing financial statements; and
  • professional ethics.

Assurance

In this module you will learn about:

  • the concept, process and need for assurance;
  • internal controls;
  • gathering evidence on assurance engagement; and
  • professional ethics.

Business, Technology and Finance

In this module you will learn about:

  • business objectives and functions;
  • business and organisational structures;
  • the role of finance and the accountancy profession;
  • the external environment; and
  • professional ethics.

Law

In this module you will learn about:

  • the impact of civil and criminal law on business and professional services;
  • company and insolvency law;
  • the impact of law in the professional context; and
  • professional ethics.

Management Information

In this module you will learn about:

  • costing and pricing;
  • budgeting and forecasting;
  • performance management;
  • management decision making; and
  • professional ethics.

Principles of Taxation

In this module you will learn about:

  • the different objectives and types of tax;
  • the ethics and administration of taxation;
  • income tax and national insurance contributions;
  • capital gains tax and chargeable gains for companies;
  • corporate tax and VAT; and
  • professional ethics.

Professional Level

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The ACA qualification is recognised and respected around the world. There are ICAEW Chartered Accountants in all sectors and industries – from multi-nationals and global accountancy firms, to local charities and business start-ups. Career opportunities are endless whether you aspire to be a business analyst, practice partner, finance director or CEO. After the certificate level there are 2 further levels to complete, along with relevant practical experience with an Approved Employer, to become qualified.

Professional Level

This comprises six exams which build on the fundamentals and test students’ understanding and ability to use technical knowledge in real-life scenarios. The exams are computer based written exams and can be taken in March, June, September and December.

Professional Level: Audit and Assurance

In this module you will learn about:

  • legal and other professional regulations, ethics and current issues;
  • accepting, planning and managing engagements;
  • concluding and reporting on engagements; and
  • professional ethics.

Professional Level: Business Strategy and Technology

In this module you will learn about:

  • strategic analysis;
  • strategic choice;
  • the implementation and monitoring of strategy; and
  • professional ethics.

Professional Level: Financial Management

In this module you will learn about:

  • financing options;
  • managing financial risk;
  • investment decisions and valuations; and
  • professional ethics.

Professional Level: Financial Accounting and Reporting (UK GAAP)

In this module you will learn about:

  • accounting and reporting concepts and ethics;
  • single entity financial statements;
  • consolidated financial statements; and
  • professional ethics.

Professional Level: Tax Compliance

In this module you will learn about:

  • indirect taxes;
  • capital taxes;
  • corporation tax;
  • income tax and national insurance contributions; and
  • professional ethics and law.

Professional Level: Business Planning: Taxation

In this option you will learn about:

  • the taxation of corporate entities;
  • taxation of owner-managed businesses;
  • personal taxation; and
  • professional ethics and law.

Advanced Level

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The Advanced Level consists of 3 papers which are available to sit twice a year in July and November as computer based written exams. The Corporate Reporting and Strategic Business Management exams test students’ understanding and strategic decision-making at a senior level. They present real-life scenarios, with increased complexity and implications from the Professional Level exams. The Case Study tests all the knowledge, skills and experience gained so far. It presents a complex business issue which challenges students’ ability to problem solve, identify the ethical implications and provide an effective solution.

Advanced Level: Corporate Reporting

This module covers:

  • applying technical and analytical techniques to resolve compliance and business issues that arise from providing auditing services and preparing and evaluating corporate reports;
  • applying technical knowledge and professional judgement to determine alternative solutions to corporate reporting issues, considering client and stakeholder needs;
  • considering commercial impact and ethical issues arising from recommendations on compliance and business issues; and
  • professional ethics.

Advanced Level: Strategic Business Management

This module covers:

  • demonstrating business and ethical awareness at strategic, operating and transactional levels;
  • demonstrating quantitative and qualitative skills to solve business problems and make realistic recommendations;
  • applying technical knowledge, including strategic analysis, risk management, corporate governance, financial management, corporate reporting and assurance;
  • applying technical knowledge and professional judgement to identify and use appropriate models, analyse data from multiple sources and develop appropriate solutions; and
  • professional ethics.

Advanced Level: Case study

This module must be taken at the end of your studies and relates to how students will be expected to work. It tests professional skills in the context of a specific business issue and your understanding and application of professional ethics. It requires:

  • the demonstration of knowledge, skills and practical application from multiple areas of the syllabus;
  • the ability to analyse financial and non-financial information;
  • the demonstration of professional and ethical judgement; and
  • the development of conclusions and recommendations;

Tuition delivery

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Full link & revision

We run full link courses comprising of a tuition course in 2 separate phases and a revision course. The tuition element covers the main areas of the syllabus and the revision course culminates with question practice and a full mock exam either taken as a whole mock or a question based day (QBD). Tutors and professional markers are on-site to mark the questions on a QBD and provide immediate feedback and question de-briefs. Students can attend a full link course or for those who may be re-sitting or have taken a home study course, a revision only course can be attended. Using Microsoft Teams as the tuition platform allows for flexibility in learning and access to the tutor outside of class for remote assistance and support.

Study Materials

The following course materials are provided within the course fee:

  • Access to the Microsoft Teams platform
  • ICAEW study manual and question bank – digital versions (invoiced separately)
  • Open books as required – digital versions (invoiced separately)
  • Course notes
  • Online access to practice mock exams
  • Access to class recordings

Attending classes at the Manor

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All Students

Students can attend on a residential or non-residential basis. Breakfast and lunch are provided to all students attending our courses at no extra charge.

Residential options

For students who wish to stay overnight, we offer highly competitive rates on a full board basis – providing you with a study-bedroom and all meals on site. You don’t have to spend any time travelling to and from courses and can focus solely on your learning. Our accommodation rates compare very favourably to hotel costs enabling us to maximise the value of your spend on professional development. The rooms come as either single or premium (these are en-suite rooms with a range of single, double or king-sized beds)

CBE Exam Centre

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Sit your exams in the comfort of the Manor

Reed Business School is an ICAEW CFAB exam centre providing students with an option to sit them at Reed. We schedule the exams within a short period after the course has finished to allow for consolidation of knowledge and question practice. Each course is scheduled on a modular approach so can be taken 1 at a time.

Booking your exams

Reed Business School is an ICAEW CBE exam centre for the CFAB modules. Please note, a student must register with ICAEW before they can sit an exam.

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ICAEW Study Programme 2022

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ICAEW Annual Planner 2022

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ICAEW Study Programme 2021

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ICAEW Course Dates 2021

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ICAEW Link Course Brochure

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ICAEW Link Enrolment Form

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Pearson Candidate Rules Agreement

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Reed Business School Terms and Conditions

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ICAEW Summer 21 results analysis

(average course % by qualification level)

98%

pass rate
Certificate Level

86%

pass rate
Professional Level

90%

pass rate
Advanced Level