The Faculty of Finance and Accounting is the first Czech university to receive accreditation from the professional body, the Association of Chartered Certified Accountants (ACCA). ACCA offers exemptions to students who have studied relevant accountancy qualifications prior to starting ACCA’s accountancy qualifications. This means that students may not have to take all of the exams in the ACCA Qualification or at the foundation level, and they can start their studies at the right level. The ACCA Qualification has two levels: the Fundamental level (F) and the Professional level (P). A maximum of nine papers at the Fundamentals level of the ACCA Qualification can be awarded. To preserve the integrity and rigour of the ACCA Qualification and to ensure that all students share a common experience, the ACCA does not award any exemptions at the Professional level.
Master Finance and Accounting MIFA holds the ACCA accreditation for a period of 5 years. All MIFA graduates will receive exemptions from the ACCA qualification exams in fundamental part F1-F4:
F1 – Accountant in Business (AB)
F2 – Management Accounting (MA)
F3 – Financial Accounting (FA)
F4 – Corporate and Business Law (LW)
MIFA is currently working on further recognitions of courses and is looking forward to offering its students more possibilities for their success in their future careers.
The ICAEW (Institute of Chartered Accountants in England and Wales) chartered accountancy qualification, the ACA, is one of the most advanced learning and professional development programmes available. It has integrated components that give students an in-depth understanding of accountancy, finance, and business. Combined, they help build the technical knowledge, professional skills and practical experience needed to become an ICAEW Chartered Accountant.
ACA exam structure consists of 15 accountancy, finance and business modules in three levels: Certificate Level, Professional Level and Advanced Level. Credits for prior learning (CPL) are available for up to eight of the Certificate and Professional Level modules:
Accounting, Assurance, Business and Finance, Law, Management Information, Principles of Taxation, Business Strategy and Financial Management.
ICAEW awarded CPL to selected courses in the programme MIFA.
The table below shows 6 CPL awarded to the MIFA programme:
|Passed MIFA courses
|Accounting I (Note1)
|Auditing and Assurance
|Business and Finance
|Principles of Taxation
|Taxation in the Czech Republic and the EU
International Finance OR
Note1: A student with the Master’s degree who has previously undertaken the Bachelor in Accountancy programme at the Faculty of Finance and Accounting at the VŠE Prague, and therefore passed the module Accounting I will be able to claim CPL for Accounting.
The Faculty of Finance and Accounting is cooperating together with the CFA Institute in order to provide its students with a global portfolio and gain the highest possible success.
Currently, the CFA Institute also offers participation in the CFA Research Challenge – locally, which offers students a unique chance to analyse a given company and present the outcome of the team during a presentation event for both Czech and Slovak students. The winning team enters the CFA Research Challenge – global and gives students another chance to explore their opportunities. The previous MIFA classes often ended up second or third during the local challenge!
Please visit the CFA Institute website or contact the MIFA coordinator for further information.