The Institute of Chartered Accountants in England and Wales (ICAEW) Certificate in Finance Accounting and Business (CFAB) gives you a comprehensive grounding in the fundamentals of finance, accounting and business. You'll gain invaluable knowledge which will help you further your career, regardless of your occupation.
Developed by ICAEW, CFAB is ideal for people already working in a relevant industry, or who are considering a career in accountancy or finance.
HTFT Partnership prepares you for exams that are assessed and awarded by the Institute of Chartered Accountants in England and Wales (ICAEW).
For CFAB you will take six modules from the ICAEW’s ACA qualification. You can study these modules in any order. The course has been designed to give you maximum flexibility. For example, you may choose to take the modules that are most relevant to your role first, so that you learn the things that apply directly to your everyday work.
The six modules you will cover are as follows:
The module will give you a sound understanding of the techniques of double entry accounting. Our courses focus on the most important aspects of the syllabus:
- Maintaining financial records, incorporating the use of double entry accounting techniques
- Adjustments to accounting records and financial statements; including identifying and correcting omissions and errors
- Preparing financial statements; including specifying the components of financial statements and preparing and presenting non-complex accounts for sole traders, partnerships and limited companies
Business and Finance
In this module you will learn how businesses operate and how accounting and finance functions support businesses in achieving their objectives. The syllabus includes:
- Business objectives and functions;
- Business structure; including the different forms a business can take
- The role of finance and accounting; including the role of financial information
- The role of the accountancy profession
- Governance and ethics
- External environment; including the key macro and micro economic issues which will impact a business
This module shows you how to prepare essential financial information for the management of a business. You will learn how to:
- Establish the costs associated with the production of products and provision of services and use them to determine prices
- Select appropriate budgeting approaches, methods and preparation of budgets
- Identify key features of effective performance management systems
- Identify and calculate relevant data for use in management decision making
This module will help you understand the assurance process and fundamental principles of ethics. It will enable you to be able to contribute to the assessment of internal controls and gathering of evidence on an assurance engagement.
The course focuses on the most important aspects of the syllabus and includes:
- The concept, process and need for assurance
- Internal controls
- Substantive testing
- Professional ethics
Principles of Taxation
You will learn about the general objectives of taxation and how to calculate income tax, National Insurance contributions, capital gains tax, corporation tax and VAT in straightforward scenarios.
The course covers, as a minimum, the following:
- Objectives and impact of taxation, the different types of tax and who is liable for them
- Ethics and administration of these taxes
- Income tax and National Insurance contributions (including sole traders, partnerships and employees)
- Capital gains tax and corporation tax on gains (including the difference between individuals and companies)
- Corporation tax