The ICAEW Certificate in Finance, Accounting, and Business (CFAB) is a globally recognized qualification designed to provide a solid foundation in finance, accounting, and business. It is ideal for professionals who wish to gain a basic understanding of these areas or want to start a career in finance, accounting, or business.
The CFAB qualification is offered by the Institute of Chartered Accountants in England and Wales (ICAEW), a leading professional membership organization for chartered accountants. It comprises six modules, each covering a different aspect of finance, accounting, and business.
The six modules of the CFAB qualification are:
Accounting:
This module covers the basic accounting principles, including bookkeeping, financial statements, and taxation.
Assurance:
This module covers the principles of auditing and assurance, including risk management and internal controls.
Business and finance:
This module covers the fundamental business and finance concepts, including business structures, financial management, and investment appraisal.
Law:
This module covers the legal framework underpinning business and finance, including contract, employment, and company law.
Management information:
This module covers using management information in decision-making, including budgeting, forecasting, and performance management.
Principles of taxation:
This module covers the basic principles of taxation, including income tax, corporation tax, and value-added tax.
The CFAB qualification is assessed through a combination of exams and practical assessments. Exams are held annually and can be taken at various locations worldwide. Practical checks are conducted online and designed to test practical skills and knowledge.
Employers worldwide recognize that the CFAB qualification can lead to various career opportunities in finance, accounting, and business. It is also a stepping stone to further qualifications, such as the ICAEW Chartered Accountant (ACA) qualification.
To enroll in the CFAB qualification, candidates must have a minimum of two A-levels or equivalent qualifications. However, exemptions may be available for specific modules based on prior academic or professional qualifications.
The ICAEW Certificate in Finance, Accounting, and Business is an excellent qualification for professionals who wish to understand finance, accounting, and business. The six modules cover various topics and are assessed through exams and practical assessments. The qualification is recognized globally and can lead to multiple career opportunities in finance, accounting, and business.
