BUSINESS WITH CONFIDENCE icaew.com/cfab

CERTIFICATE IN FINANCE, ACCOUNTING AND BUSINESS (CFAB) Essential business and finance knowledge

The Certificate in Finance, Accounting and Business (CFAB) is an internationally recognised certificate from ICAEW – a world leader of the accountancy and finance profession.

After a year of studying CFAB, I can actually see the bigger picture of the business world. I believe CFAB is my next ticket for my journey into the competitive business world. CFAB student, Malaysia

It has got me jobs that I would not have got before. CFAB student, UK

It will give a good level of core finance education which is useful to have whatever your role in an organisation. Employer, Russia

GET AHEAD WITH ESSENTIAL KNOWLEDGE

A good understanding of business, finance and accounting is highly valued in any role in any organisation around the world. Having this knowledge will boost your CV/career resumé and could help you get a job, open up new career options and help you stay ahead of your peers.

The Certificate in Finance, Accounting and Business (CFAB) will teach you the key elements to help you on the road to success.

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• What you’ll learn: Essential knowledge in finance, accounting and business.

• Study: You can study in your own time to fit around other commitments. Study options include online, classroom, self-study and more.

• Timing: CFAB can be gained in one year, or choose to go at your own pace.

• Exams: Six computer-based assessments – take them in any order and at any time.

• Exam credit: Credit is available for five out of six modules for those who are studying for, or have relevant qualifications.

• Getting started: No formal academic entry requirements needed.

• Success: First-time pass rates are around 90% for each module.

• Credibility: Once you’ve passed all the exams, you’ll get an internationally recognised formal certificate from ICAEW to prove your achievement and knowledge.

• Cost: Can cost less than £750*.

*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 CFAB. Tuition fees may vary according to location and study option chosen. Information accurate as of May 2012.

CFAB – FAST FACTS

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When I graduate, I’ll already have one certificate in my hand which will help me when I apply for jobs.CFAB university student, UK

CFAB enables me to study in my free time, which is ideal as I am self-employed. It is helping me broaden my knowledge and gives me more confidence in dealing with my own taxes, self assessment and other financial matters. CFAB student, France

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, UK

It will definitely enhance my long-term career options.CFAB student, UAE

I decided to study CFAB because I intended to apply for accounting jobs instead of going to university. I believe having CFAB improved my job applications. CFAB student, UK

CFAB is a great way to get a firm footing in finance. As an employer, I would recommend it. Employer, UK

Competitive advantage CFAB teaches you highly valuable business and finance knowledge which could give you the edge over your peers. It helps show prospective employers you are ambitious and self-motivated.

Get ahead Improve your knowledge and skills to help you get ahead in the job market.

New career If you are considering a career in business, finance or accounting, you can study CFAB to see if it’s right for you – you’ll gain essential knowledge and a formal certificate to demonstrate your achievement.

Entrepreneur Eager to start your own business but don’t want to fall into the typical pitfalls faced by start-ups? CFAB helps you understand the wider business and finance issues that are invaluable for any new company.

Effectiveness at work If you work in a role that supports professional service firms, banks or financial services and need to know the fundamentals to help you effectively support other teams, then CFAB is perfect for you.

Working with budgets If you need to understand budgets, how to control costs or how to measure success factors – CFAB will help you in your role.

Career path into chartered accountancy CFAB consists of the same six modules as the first stage of ICAEW’s leading business and finance qualification, the ACA. This means you can gain CFAB as part of your journey towards chartered accountancy.

Gap year Make your gap year count – get a recognised certificate in a year from ICAEW to show employers you are dedicated and ambitious.

Returning to work Brush up on your knowledge before going back to work.

REASONS TO CHOOSE CFAB

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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

WHAT YOU’LL LEARN

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* The Accounting module is compulsory for all students. The only exception is for AAT qualified individuals who have also passed the ACA Financial Accounting top-up paper or university students who have passed the ACA Financial Accounting paper.

MODULE SYLLABUS HEADLINES EXAMPLES OF WHAT’S EXPLAINED

Principles of Tax •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

•Types of tax that individuals and companies pay

•Tax requirements for individuals and companies

•Implications of not complying with tax requirements

Business and Finance

•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

•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

Assurance •The concept, process and need for assurance

•Internal controls

•Gathering evidence for an assurance engagement

•Professional ethics

•What is assurance, why it’s needed and what’s involved

•Types of risk a business might be exposed to

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CFAB considerably enhanced my knowledge of business and accounting and has given me an edge in my work. CFAB student, UAE

I have recently had an interview with a firm and got called back for a second interview, I believe this was partly down to the fact I am studying CFAB. CFAB student, UK

I was looking for a professional certificate endorsed by a well-known organisation.CFAB student, France

The knowledge I have gained has been really useful for my work and has enhanced my confidence and credibility with clients and significantly extended the scope of my capabilities. Highly recommended. CFAB student, UK

YOU’LL GAIN PRACTICAL SKILLS

Once you have completed CFAB, you’ll have gained a wide range of practical knowledge and skills which are highly valued by employers. You’ll:

• 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 you write a business plan.r

Exam credit / exemptionsIf you are studying for, or hold relevant qualifications (eg, certain degrees with business, accounting or finance components), there are up to five credits for prior learning available for CFAB. Credit is not available for the Accounting module (see page 4 for exceptions).

Flexibility and convenienceYou can sit the CFAB computer-based exams at many assessment centres around the world. You can study the modules in any order, sit the exams when it suits you or your employer and study at a pace that is right for everyone. You can complete CFAB in a year or choose to take longer.

Price• There is a one-off registration fee of £165 (including VAT where applicable).• Exams fees are currently £65 each.• Cost for credit for prior learning / exemption is currently £65 each.• Learning materials are currently £30 per module.

The cost of tuition may vary according to the provider, learning style and/or location that you choose.Prices and information accurate as of May 2012.

Classroom tuition Delivered in a classroom by experienced tutors. Allows you to ask questions, meet other CFAB students and learn from others. Tuition is available in a number of countries around the world.

Distance learning Combines a mixture of online tutor sessions and self-study support. Ideal if you are unable to attend classes, but still value the support of a tutor and peer-to-peer learning.

Online learning This option is similar to distance learning, but is delivered online through live and recorded tuition sessions. There are online materials and resources which can be accessed anywhere in the world.

Self-study If you prefer, you can study CFAB on your own using the ICAEW learning materials that are available directly from our distributors.

Blended learning You can opt for a mixture of learning options on a module-by-module basis, depending on how much support you feel you need.

LEARNING OPTIONS Choose the style of learning that suits you.

CHOOSE WHAT WORKS FOR YOU

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HOW TO REGISTER

To study CFAB, you’ll need to register as a student with ICAEW.

Register today at icaew.com/cfab or for more information contact us on:

E cfab@icaew.comT +44 (0)1908 248 250

SUPPORTING YOUR STUDIES

ICAEW provides plenty of free support to help you while you study for CFAB. This includes study webinars, guidance from examiners, sample assessments, student helpline, e-newsletters and an online community allowing you to gain exam support and feedback from your fellow students around the world.

NEXT STEPS

For information on all other programmes, visit icaew.com/qualifications or call:

UK +44 (0)1908 248 250

China +86 10 8518 8622

Europe +32 (0)2 230 3272

Hong Kong +852 2287 7277

Malaysia +60 (0)3 2171 6022

Middle East +971 (0)4 408 0000

Russia +44 (0)20 7920 8782

South East Asia +65 6407 1554

LIFE AFTER CFAB

If you want to carry on learning or decide you want to focus on a career in business, finance or accounting, then there are plenty of options.

• As CFAB consists of the first six modules of the ACA qualification – the leading business and finance qualification from ICAEW – you could continue to study for the ACA. Successful completion of the ACA would qualify you as an ICAEW Chartered Accountant and open up career opportunities at the highest level all over the world. For more information, visit icaew.com/careers

• ICAEW also offers a number of qualifications and learning programmes which cover insolvency, charity accounting, corporate finance, international financial reporting standards and many more.

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© ICAEW 2012 LPDPLN11291 05/2012

ICAEW is a professional membership organisation, supporting over 138,000 chartered accountants around the world. Through our technical knowledge, skills and expertise, we provide insight and leadership to the global accountancy and finance profession.

Our members provide financial knowledge and guidance based on the highest professional, technical and ethical standards. We develop and support individuals, organisations and communities to help them achieve long-term, sustainable economic value.

Because of us, people can do business with confidence.

ICAEW

Chartered Accountants’ Hall

Moorgate Place London

EC2R 6EA UK

T +44 (0)1908 248 250

E cfab@icaew.com

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