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The Certificate in Finance, Accounting and Business ( CFAB ) has been developed by the Institute of Chartered Accountants in England and Wales (ICAEW).

The qualification aims to give you a fundamental knowledge of finance, accounting and business, regardless of the occupation you work in.

There will be six modules based on the following subjects:

1. Accounting

2. Assurance

3. Business & finance

4. Law

5. Management Information

6. Principles of Taxation

Find below details of a brief summary on each module to give you greater understanding of what topics will be covered during your course preparation with Green Turn.

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1. Accounting

Course Outline:
The aim of this module is to ensure that students have a sound understanding of the techniques of double entry accounting and that they can apply its principles in recording transactions, adjusting financial records and preparing non-complex financial statements.
Our courses are designed to 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; includes identifying and correcting omissions and errors in accounting records and financial statements
  • Preparing financial statements; includes specifying the components of financial statements and preparing and presenting non-complex accounts for sole traders, partnerships and limited companies


Course duration:

Teaching course duration is 2 days

2. Assurance


Course Outline:

The aim of this module is to ensure students understand the assurance process and fundamental principles of ethics. It will enable students to be able to contribute to the assessment of internal controls and gathering of evidence on an assurance engagement.

Our courses are designed to focus on the most important aspects of the syllabus including:

  • The concept, process and need for assurance
  • Internal controls
  • Substantive testing
  • Professional ethics

Course duration:
Teaching course duration is 2 days

3. Business & Finance

Course Outline:
The aim of this module is to ensure that students have a sound understanding of how businesses operate and how accounting and finance functions support businesses in achieving their objectives. Our courses are designed to focus on the most important aspects of the syllabus including:

  • Business objectives and functions; includes the objectives of a business, developing a business strategy and risk management
  • Business structure; includes the different forms a business can take
  • The role of finance and accounting; includes the role of financial information and how it helps business stakeholders
  • The role of the accountancy profession; includes the importance of the accountancy profession to business
  • Governance and ethics topics; includes the need for good corporate governance and ethical behaviour
  • External environment; includes the key macro and micro economic issues which will impact a business

Course duration:
Teaching course duration is 2 days

4. Law

Course Outline:
The aim of this module is to provide students with an understanding of how law may have an impact on professionals in a business context. Set at the Knowledge Level of the syllabus, the underlying purpose of the module is to allow students to appreciate the basic principles of English law and how they may be encountered in business or professional practice.
Students will recognise the significant impact legal rules have on the administration of Companies and Partnerships.
Our courses are designed to focus on the most important aspects of the syllabus:

  • Contract law: how a contract is formed and discharged
  • Professional negligence: the essential elements that need to be shown to the courts in order to succeed in a claim
  • Company law: the concept of the company being a separate legal personality
  • Criminal law: in particular, whistle-blowing, fraudulent trading and insider dealing
  • Employment law: the different claims available to employees once dismissed

Course duration:
Teaching course duration is 2 days

6. Management Information

Course Outline:
The aim of the module is to enable students to prepare essential financial information for the management of a business.

Our courses are designed to focus on the most important aspects of the syllabus, teaching students 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, select appropriate performance measures and calculate differences between actual performance and standards or budgets
  • Identify and calculate relevant data for use in management decision making

Course duration:
Teaching course duration is 2 days

6. Principles of Taxation

Course Outline:
The aim of this module is to ensure students gain a strong understanding of the general objectives of taxation and are able to calculate income tax, National Insurance contributions, capital gains tax, corporation tax and VAT in straightforward scenarios.
Our courses are designed to focus on the most important aspects of the syllabus including:

  • -Objectives and impact of taxation and 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
  • -VAT

Course duration:
Teaching course duration is 2 days

 

ICAEW E-Assessment Exam Details
For each module it will be computer based e-assessments. Duration for each exam will be one and a half hours each.

Passing marks are 55 percentile.

 

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