Introduction to the Qualification
The Professional Body
The DipFM is a qualification awarded by the Association of
Chartered Certified Accountants (ACCA). Unlike a mainstream
accountancy qualification, it is intended for business managers, in
order to enable them to gain an understanding of finance-related
issues, that they can then utilise in the course of their working
life.
What is the qualification?
The Diploma programme has a modular design for convenience of
study and to enable you to progress smoothly from basic principles
to more strategic issues. Each module covers two subject areas:
- Module A: Interpretation of Financial Statements and
Performance Management
- Module B: Financial Strategy and Risk Management
- Each module will be assessed via:
One examination of three hours (plus 15 minutes reading time).
These are held in June and December each year in ACCA exam centres
around the world
- One project, issued and marked by the ACCA. A new project is
issued every six months and candidates have a three month period in
which to research and complete the project and submit it to the
ACCA. The submission deadlines are in May and November each
year.
Who is the qualification for?
Unlike many financial awareness courses, the Diploma aims to
achieve a level of practical understanding that is genuinely useful
in the workplace. Managers are increasingly responsible for
managing their own profit centres and therefore need a similar
level of financial understanding to the qualified accountants
within the business. The ACCA Diploma develops this with a broad
range of topics which enable managers not only to understand
financial information but also link it to broader strategic
decisions.
There is no time limit to completing the Diploma and it's
possible to complete the course after just one year's study.
Entry requirements
The minimum entry requirement for the DipFM is a recognised
degree, higher national certificate/diploma or a non-accounting
professional qualification (for example a law qualification).
If you do not hold any of these qualifications, you may be
admitted to the programme on the basis of your work experience. In
such a situation you would need:
- An employer's reference stating that the DipFM would be
relevant to your work; or
- If you are self-employed, a reference from an accountant,
solicitor or bank manager
SHORT OUTLINE OF THE SYLLABUS
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MODULE A:
Interpretation of Financial Statements
The overall aim of this paper is for candidates to understand
and interpret the financial statements produced by organisations
for external users. Candidates should develop an understanding of
the regulatory framework in which these statements are prepared and
of the principles and methods which underlie their preparation.
The main subject areas within the syllabus
are:
- The regulatory framework for the production of financial
reports
- Accounting concepts and conventions
- The contents of the main financial statements
- Additional documents found in the annual report
- Interpretation and analysis of financial statements
Performance Management
The aim of the paper is to enable candidates to develop a good
understanding of the knowledge required and techniques available to
enable managers to measure and manage business performance within
their organisation. Both financial and non-financial measures of
performance are included.
The main subject areas within the syllabus
are:
- Performance measurement and how it should be linked to overall
strategy
- Budgeting
- Decision-making techniques
- Costing and pricing
- Non-financial performance measures
- Factors that may cause adverse performance.
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MODULE B:
Financial Strategy
The aim of the paper is to enable candidates to develop an
understanding of the role of financial strategy in the investment,
finance and resource allocation decisions within an
organisation.
The main subject areas within the syllabus
are:
- Investment appraisal
- Long-term decision making
- Sources of finance
- Capital markets
- Working capital management
- Mergers and acquisitions
Risk Management
The aim of the paper is to enable candidates to achieve a sound
appreciation of the theoretical and practical aspects of corporate
governance, and to develop an understanding of the main theories
and frameworks associated with the management of both financial and
non-financial risk.
The main subject areas within the syllabus
are:
- Financial risk
- The identification, measurement and communication of risk
- Internal controls in risk management
- Corporate governance
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Catalogue
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