ICAEW Certificate in Finance, Accounting and Business. Essential business and finance skills for your staff

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1 ICAEW Certificate in Finance, Accounting and Business Essential business and finance skills for your staff BUSINESS WITH CONFIDENCE icaew.com/cfab

2 The ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) is an internationally recognised certificate from ICAEW a world leader of the accountancy and finance profession. It will give a good level of core finance education which is useful to have whatever your role in an organisation. Employer, financial services, Russia ICAEW CFAB considerably enhanced my knowledge of business and accounting and has given me an edge in my work. Student, business, UAE

3 Essential knowledge Employees with a good understanding of business, finance and accounting can add value throughout your organisation. The ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) will teach individuals this essential knowledge and associated practical skills. ICAEW CFAB FAST FACTS What do people learn: Essential knowledge in finance, accounting and business. Study: Flexible study options allow individuals to study in their own time or you can plan their study leave to fit around busy times in the office. Duration: ICAEW CFAB can be gained in one year or employees can take longer and go at their own pace. Exams: Six computer-based assessments these can be taken in any order and at any time. Exam credit: Credit for prior learning is available on five modules for those with previous relevant qualifications. Getting started: No formal academic entry requirements needed. Recognition: Individuals gain a certificate for each module they sit and pass helping to demonstrate their achievement and skills. Credibility: Once all six modules are completed, individuals gain an internationally recognised qualification from ICAEW. Cost: Can cost less than 800*. * Includes one-off registration fee plus exam fees and learning materials. Assumes all first-time passes, no exemptions and no tuition fees. ICAEW recommends tuition for ICAEW CFAB. Tuition fees may vary according to location and study option chosen. Prices accurate as of January icaew.com/cfab 01

4 ICAEW CFAB is a great way to get a firm footing in finance. Employer, accountancy firm, UK After a year of studying ICAEW CFAB, I can actually see the bigger picture of the business world. Student, Malaysia It has improved my commercial acumen greatly, in addition to teaching me the basics of all aspects of business and accounting. The knowledge has been really useful for my work as a management consultant, enhancing my confidence and credibility with clients and significantly extending the scope of my capabilities. Student, management consultancy, UK For those who haven t decided whether they want a long-term career in finance, it gives them a flavour of what it is all about. Employer, business, UK

5 Why choose ICAEW CFAB Increased efficiency: ICAEW CFAB provides individuals with highly valuable business and finance knowledge, helping them deliver better support and service to internal teams or external clients, or to be more effective in a wider variety of roles. Shared levels of knowledge: This certificate-level qualification is ideal for teams that need to have a good common level of understanding in business, finance and accounting. This can be particularly useful for teams based in different locations. Route to chartered accountancy: This qualification consists of the first six modules of our chartered accountancy qualification, the ACA. You could offer ICAEW CFAB to employees as part of their journey towards gaining the ACA and becoming an ICAEW Chartered Accountant. Finance knowledge for non-finance staff: It is ideal if you need non-finance teams to understand budgets, controlling costs, how to measure performance and how a business works. Motivated staff: You could offer ICAEW CFAB to your employees as part of their ongoing development. They will gain new skills and a certificate for each module they sit/pass to demonstrate their knowledge and achievement. Support to finance teams: Where employees work in a role that supports professional service firms, banks or financial services, it will teach them the fundamentals and can help them support other teams more effectively. Credibility with clients and colleagues: ICAEW CFAB provides practical knowledge and skills across a wide range of finance and business subjects. It can help your staff deliver more pertinent advice to colleagues or clients. icaew.com/cfab 03

6 What s covered MODULE SYLLABUS HEADLINES EXAMPLES OF WHAT S EXPLAINED Accounting* Maintaining financial records Adjustments to accounting records and financial statements Preparing financial statements Assets and liabilities Gross and net profit Profit / loss Balance sheet Cash flow Invoicing Management Information Costing and pricing Budgets and forecasts Performance management Management decision-making Business costs Pricing strategies, considerations and profit margins Budgeting Measuring business performance against budgets and goals Decisions required by a business to function effectively Law Impact of civil law on business and professional services Company and insolvency law The impact of criminal law on business and professional services The impact of law in the professional context Laws applicable to organisations Legal requirements to set up a company Disputes with suppliers or clients Employment law Contract law * The Accounting module is compulsory for all students. The exceptions are for individuals who have a relevant qualification (eg, AAT or Accounting degree) that provides eligibility for exam credit at the Accounting module and who have also passed the ACA Financial Accounting and Reporting paper. All modules are examined in English. 04 icaew.com/cfab

7 MODULE SYLLABUS HEADLINES EXAMPLES OF WHAT S EXPLAINED Principles of Tax Business and Finance Assurance Objectives and types of tax Ethics and administration Income tax and national insurance contributions Capital gains tax and corporation tax on chargeable gains Corporation tax VAT Business objectives and functions Business and organisational structures The role of finance The role of the accountancy profession Governance, sustainability, corporate responsibility and ethics External environment The concept, process and need for assurance Internal controls Gathering evidence for an assurance engagement Professional ethics Types of tax that individuals and companies pay Tax requirements for individuals and companies Implications of not complying with tax requirements Organisational structures, functions and people management Theories of economics, finance and business Strategic planning Different finance sources available to businesses External influences on businesses and their impact on business decisions The importance of competition and how it affects business decisions What is assurance, why it s needed and what s involved Types of risk a business might be exposed to icaew.com/cfab 05

8 By offering computer-based assessments, we can plan the most suitable times for my team to take their assessments and avoid the busiest times for the office. Employer, accountancy firm, UK I work as a translator and quite often come across business and finance-related texts. I had no specific training in business and finance, so I wanted to study the basics to help me with my work. ICAEW CFAB is helping me broaden my knowledge and enables me to study in my free time which is ideal. Student, freelance translator, France

9 Learning outcomes Once students have completed the ICAEW CFAB qualification, they will have gained a wide range of practical skills and knowledge. They will: understand the key elements of business, finance and accounting; understand wider business issues; have the skills to talk the language of finance; appreciate the main factors linked to business success or failure; understand key decisions that businesses and management teams have to make on a day-to-day basis; see how to minimise business risk and monitor business performance; and have the skills to help them write a business plan or report. Once individuals successfully complete ICAEW CFAB, they ll receive a certificate from ICAEW a world leader of the accountancy and finance profession.

10 Flexible and convenient EXAM CREDIT / EXEMPTIONS For those who hold relevant qualifications (eg, certain degrees with business, accounting or finance components), there are up to five credits for prior learning available for ICAEW CFAB. Credit is not available for the Accounting module (see page 04 for exceptions). FLEXIBILITY AND CONVENIENCE The ICAEW CFAB exams are examined by computer-based assessment. Students can study the exam modules in any order and at any time of year. They could achieve the ICAEW CFAB qualification in a year or divide their study over a longer period of time to give you both maximum flexibility. The exams are available at a wide variety of assessment centres around the world. LEARNING OPTIONS There is a range of learning options to suit everyone. Classroom tuition Online learning Self-study Blended learning Delivered in a classroom by experienced tutors. Allows students to ask questions, meet other ICAEW CFAB students and learn from others. Tuition is available in a number of countries around the world. Learning can be delivered in a number of ways including live and recorded tuition sessions combined with self-study. Students study ICAEW CFAB on their own using the ICAEW learning materials that are available directly from our distributors. This involves a mixture of the learning options on a module-by-module basis. For example, students could take classroom study for three of the modules, self-study for one and online learning for the remaining modules. Find out more about learning options at icaew.com/cfablearning STUDY SUPPORT ICAEW provides plenty of support to help students while they study for ICAEW CFAB. This includes study webinars, guidance from examiners, sample assessments, student helpline, e-newsletters and an online study community allowing them to gain feedback and support from their fellow students around the world. 08 icaew.com/cfab

11 Next steps HOW TO REGISTER To study ICAEW CFAB, individuals need to be registered as a student with ICAEW. This can be done at icaew.com/cfab or contact us for more information at: E cfab@icaew.com T + 44 (0) PRICE There is a one-off registration fee of VAT (where applicable). Exams cost 70 for each module and the learning materials cost 30 per module*. The cost of tuition may vary according to provider, learning style and/or location. *Prices accurate as of January LIFE AFTER ICAEW CFAB The ICAEW CFAB consists of the first six modules of our world-leading chartered accountancy qualification, the ACA so individuals can continue their studies towards the ACA and become an ICAEW Chartered Accountant. For more information on the ACA, visit icaew.com/trainaca ICAEW also offers a suite of qualifications, certificates and programmes which cover insolvency, charity accounting, corporate finance, international financial reporting standards and many more. For information on ICAEW CFAB or our suite of qualifications, certificates and programmes, visit icaew.com/learning or call: UK T +44 (0) China T Europe T +32 (0) Hong Kong T Malaysia T +60 (0) Middle East T +971 (0) South East Asia T icaew.com/cfab 09

12 ICAEW is a world leading professional membership organisation that promotes, develops and supports over 144,000 chartered accountants worldwide. We provide qualifications and professional development, share our knowledge, insight and technical expertise, and protect the quality and integrity of the accountancy and finance profession. As leaders in accountancy, finance and business our members have the knowledge, skills and commitment to maintain the highest professional standards and integrity. Together we contribute to the success of individuals, organisations, communities and economies around the world. Because of us, people can do business with confidence. ICAEW is a founder member of Chartered Accountants Worldwide and the Global Accounting Alliance. ICAEW Chartered Accountants Hall Moorgate Place London EC2R 6EA UK T +44 (0) E cfab@icaew.com icaew.com/cfab linkedin.com find ICAEW twitter.com/icaew facebook.com/icaewstudents ICAEW 2015 LPDPLM /15