PROFILE
THE INSTITUE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALESCFAB is an exciting new qualification from the ICAEW. CFAB is designed to develop your general knowledge in finance, accounting and business and it is a route into the ACA.
CFAB is open to all; from school leavers and graduates through to employees with a number of years’ experience in the work place. No previous academic qualifications or work experience are required to register and begin studies.
CFAB is ideal for anyone who either works or aims to work in business or practice. CFAB provides essential knowledge in the fundamentals of finance, accounting and business.
Six ModulesThe Certificate in Finance, Accounting and Business (CFAB) is made up of six modules: Business and Finance, Management Information, Accounting, Law, Assurance, and Principles of Taxation.
These are the same six modules of the ACA qualification, which means that CFAB can be used as an entry route into the ACA qualification.
The Accounting module is mandatory for all students. However, you may apply for credit for prior learning for the other modules.
At the end of each module you will be electronically assessed (e-assessment – link to e-assessment). Each module assessment is 1.5 hours long and can be taken at anytime. This allows students schedule exams at convenient times and dates.
Business and Finance
• business objectives and functions
• business structures
• the role for finance and accounting
• the impact of the external environment
Management Information
• costing and pricing
• budgeting and forecasting
• performance management
• management decision-making
Accounting
• maintaining financial records
• making adjustments to accounting records
• information for the preparation of financial statements
Law
• impact of civil and criminal law on business and professional services
• company and insolvency law
• overall impact of law in the professional context
• ethics
Assurance
• concept, process and need for assurance
• internal controls
• how to gather evidence on an assurance engagement
• professional ethics
Principles of Taxation
• the objectives and types of tax
• ethics and administration
• income tax
• capital gains tax and corporation tax on chargeable gains
• corporation tax and value added tax (VAT) principles
Study routesThere are a three study routes available: classroom, self-taught and distance learning.
Classroom
If you wish to take the classroom route there are a number of tuition providers for you to choose from. If you enroll on a tuition course, learning materials are normally included in your course fee.
Self-taught
If you are going to study for the assessments independently of a tuition course, you can purchase the learning materials directly from our distributors.
Distance learning
If you would like to follow the distance learning route there are a number of tuition providers for you to choose from.
Cost of studying• Registration fee - £165 (including VAT)
• e-Assessments - £60 per e-assessment
• Learning materials - £25 per subject
• Tuition - Cost depends on the tuition provider
Receiving the CFAB certificateOnce you’ve passed all the e-assessments you will be sent a certificate.
Student support helpline+44 (0)1908 248 040
cfab@icaew.com
COMPUTER-BASED CFAB
The computer-based CFAB assessments are available all year round. You can apply for and book an e-assessment at a time suitable for you and/or your employer, subject to availability at the approved test centre. More
ICAEW VIDEO
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