Accounting majors get exam exemptions
New exam policies will make it much easier for university accounting majors to become certified after their second year of study.
The Association of Certified Chartered Accountants, the largest international accountancy body, will modify its exam exemption policies for Chinese students, its local office announced yesterday.
Beginning next month, accounting majors will be able to apply for exemptions from several of the ACCA's exams before they graduate.
For instance, accounting majors who have finished two years of university study can automatically be exempted from three subjects related to financial statements and management on the first section of the asso-ciation's exams.
Their grades in class won't have any bearing on the exemptions.
But students have to provide their academic transcripts to see whether they are eligible to skip another two subject, which are related to information systems and business law, ACCA officials said.
Previously, exemptions would be granted to accounting graduates only.
University accounting graduates will continue to enjoy the five-subject exemption in the future, ACCA officials said.
"The policy modification can help university students access the international accounting certificate as soon as possible and make them more competitive during a future job hunt," said Zhou Fei, PR manager for the ACCA's mainland office.
With the new policy, non-accounting majors also have the opportunity to be exempted as their accounting major counterparts.
But their applications will need to pass an evaluation at the ACCA's British headquarters first.
"That also can evaluate learners past education background more objectively," Zhou said.
Wu Chen, a Fudan University accounting major, said that as students usually have more spare time than those full-time employees, early access to the professional certificate will enable them to learn more effectively.