CFAB qualification
In every business there are many employees who need a general understanding of finance and accounts. However, most of these do not need to qualify as an accountant.
The Certificate in Finance, Accounting and Business (CFAB) has been developed by the Institute of Chartered Accountants in England and Wales (ICAEW). It is a unique qualification that is open to all. It provides an effective platform for employees to develop a sophisticated understanding of the financial aspects of their role. CFAB is also highly applicable for those who want to move into finance and accounting based roles, or for those who work in a predominantly non-financial role and who appreciate the importance of holding a broad understanding of business. The CFAB programme also serves as a platform into the ACA qualification for those students who would like to go further with accountancy.
Approach
We believe that a simple, straightforward approach is the most helpful when studying for professional exams. We offer classroom based CFAB courses as well as distance learning packages including online videos to supplement your study. Our materials concentrate on the key areas of the syllabus and summarise the information simply and clearly, leaving students time to focus on question practice.
Assessments
All of the CFAB modules culminate in a computer-based assessment that lasts one and a half hours. LSBF are an approved e-assessment centre.
CFAB structure
The CFAB is made up of six modules, each providing coverage of a key topic relating to financial and business management.
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Accounting
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Assurance
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+ Maintaining financial records
+ Making adjustments to accounting records
+ Information for the preparation of financial statements
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+ Concept, process and need for assurance
+ Internal controls
+ How to gather evidence on an assurance engagement
+ Professional ethics
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Principles of Taxation
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Business and Finance
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+ The objectives and types of tax
+ Ethics and administration
+ Income tax
+ Capital gains tax and corporations tax on chargeable gains
+ Corporation tax and value-added tax (VAT) principles
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+ Business objectives and functions
+ Business structures
+ The role of finance and accounting
+ The impact of the external environment
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Management Information
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Law
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+ Costing and pricing
+ Budgeting and forecasting
+ Performance management
+ Management decision-making
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+ Impact of civil and criminal law on business and professional services
+ Company and insolvency law
+ Overall impact of law in the professional context
+ Ethics
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Accounting
Accounting is a compulsory subject for the CFAB qualification. We provide a comprehensive introduction to bookkeeping for anyone who has never studied accounting before, using case studies and practical examples to make sure that everyone completes this module with an excellent level of competence at accounting.
Business and Finance
An excellent introduction to the world of business and finance for anybody who wants a career in this area, or for any non-financial managers who want to increase their knowledge of finance related topics. Our classes cover strategic, financial and operational topics. Our classes cover strategic, financial and operational topics.
Assurance
Covers the principles of assurance and the key work done by auditors and how the audit process works. Ideal for anyone wanting to work in audit, or who deals with auditors in their work. In the assurance programme the trainer will cover the principles of assurance and the key work done by auditors.
Management Information
A very practical look at the world of management accounting, useful for anyone who prepares financial information such as budgets, forecasts or who has to make costing decisions. Our programme covers all the key principles in this area.
Principles of Tax
This covers the technical tax rules that can be applied to pass the assessment. This module is relevant to all finance professionals who need a working knowledge of the main types of UK tax and is regularly updated for the new tax legislation.
Law
The law module provides coverage of all areas of the law that accountants need to be aware of. Law will be taught as an e-learning package, with videos to supplement your learning instead of classroom teaching.
The Next Step
The CFAB qualification also provides an accessible route for students who would like to go on to take the ACA qualification. On completing CFAB, you will also be exempt from the first level of the ACA exams. Please see our ACA page for further details.
Please get in touch if you would like further information on the CFAB qualification. You can contact our Course Manager, Louise Noble, on lnoble@lsbf.org.uk or call 0203 384 1661.
