Exemptions from Examinations of Professional

Transcript:Exemptions from Examinations of Professional:
Exemptions from Examinations of Professional Accounting Bodies for B.Sc. Accounting (Special) Degree Program By Senior Prof. Samanthi Senaratne Which Professional Accounting Bodies have provided exemptions for the accounting degree? Local: CA Sri Lanka CMA Sri Lanka International: ACCA ICAEW CPA Australia Provided substantial exemptions Only Sri Lankan accounting degree to get such amount of exemptions Which Professional Accounting Bodies allow to sit their final level exams on completion of the accounting degree? CA Sri Lanka CMA Sri Lanka ACCA (Can attempt when in the final year of the degree program) CPA Australia CA Sri Lanka B.Sc. Accounting Degree Holders Exempted CA Exemption for Accounting Degree Program Business Level - l & ll (All 8 course units) Professional Skills Pillar (All 9 course units) Corporate Level (All 4 course units provided the students have earned B- (a minimum of 50 marks) for stipulated courses of the degree program - Refer Table 1 next slide) Table 1 Matching of Courses If students attempt courses at corporate level prior to the completion of the degree and if they fail in a course, those courses will not be exempted. Requirements for CA Exemption Completion of B.Sc. Accounting Degree Program (with minimum of a B- pass for courses indicated in Table 1). Two years of practical training (Completed during the third and fourth years of the degree program) ACCA Exemption The Final Year Students of B.Sc. Accounting Degree Exemption fee, first year subscription and initial registration fee is waived off if registered in the final year. ACCA Exemption for Accounting Degree Program Applied Knowledge Level (All 3 courses) Applied Skills Level (All 6 course) –Needs to pass the courses indicated in Table 2 Table 2 Matching of Courses Requirements for ACCA Exemption Completion of B.Sc. Accounting Degree Program (with stipulated courses in Table 2 –all these courses except ACC 4354 are core courses) Can commence sitting professional level subjects of ACCA while in the final year CMA Sri Lanka B.Sc. Accounting Degree Holders Exempted CMA Exemption for Accounting Degree Program Foundation Level (All 5 course units) Operational Level (All 6 course units) Managerial Level (All 5 course units) Requirements for CMA Exemption Completion of B.Sc. Accounting Degree Program CPA Australia B.Sc. Accounting Degree Holders Exempted CPA Exemption for Accounting Degree Program Foundation Level (All 12 courses) Requirements for CPA Exemption Completion of B.Sc. Accounting Degree Program ICAEW Exemption B.Sc. Accounting Degree Holders ICAEW Exemption for