CIPFA - Qualifications - Professional Accountancy Qualification

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Professional Qualification - Syllabus

Syllabus

The syllabus details the learning outcomes, which newly qualified CPFA’s should have achieved, and is the core of the new Professional Qualification.

Professional Qualification Syllabus

Certificate

Financial Accounting (FA)

Demonstrate an understanding of the environment in which financial accounting operates and the ethical standards expected of professional accountants.
Demonstrate an understanding of the basic accounting concepts and principles.
Prepare financial accounting records based on the principles of double entry bookkeeping.
Prepare, interpret and communicate financial statements with regard to current legal requirements and professional standards of practice.

Download the full FA syllabus: Word 57KB | PDF 27KB

Management Accounting (MA)

Explain the nature and purpose of cost and management accounting, costs and their behaviour.
Apply the concept of internal control by the preparation and interpretation of budgets and standard costs.
Use the principles of cost and cost behaviour to accurately record cost data and use management accounting techniques in an effective way.
Demonstrate knowledge of and competently perform management accounting techniques in order to inform the process of long and short-term decision-making.

Download the full MA syllabus: Word 56KB | PDF 21KB

Financial Reporting (FR)

Demonstrate an understanding of current accounting theory and prepare financial statements for single limited companies in accordance with it, including current legal and professional requirements (UK GAAP).
Interpret financial statements for stakeholders.
Demonstrate an understanding of the limitations of financial statements and also of proposed developments in legal and professional requirements.

Download the full FR syllabus: Word 67KB | PDF 24KB

Financial Management Systems & Techniques (FMST)

Understand and apply policies and techniques for the management of an organisation’s working capital.
Understand the issues related to the acquisition and management of information systems and the information and communication technology to support them.
Describe and appraise alternative arrangements for the management of the finance function within an organisation.
Explain the processes involved in project and contract management applying appropriate techniques to assist in those processes.
Use and apply appropriate quantitative techniques in order to collect, analyse, interpret and present meaningful information upon which decisions can be made.
Identify risks and decide how best to manage them, with particular reference to risks arising from the ownership and use of assets.

Download the full FMST syllabus: Word 66KB | PDF 25KB

Diploma

Audit and Assurance (A & A)

Describe the nature of audit and appraise the fundamental principles and standards, which are used to govern its practice.
Describe and evaluate the scope of both internal and external audit work and audit’s relationship to management.
Describe and appraise audit’s unique role in promoting corporate governance, accountability and internal control.
Identify and describe stages in managing and performing an audit through to the reporting of findings.
Explain the various techniques and methodologies used in auditing and demonstrate their application.
Explain the role of information technology and systems in auditing both as a tool for auditing and as an audit environment.

Download the full A & A syllabus: Word 87KB | PDF 34KB

Leadership and Management (L & M)

Describe the development of management and organisational theory and its application to a variety of organisational settings including public service organisations.
Analyse the role of the manager and explain the importance of effective management and leadership within organisations, and to maintain ethical and professional standards.
Understand the complex nature of human behaviour and the motivation of individuals and groups within organisations.
Describe and evaluate the ways in which organisations can be structured.
Describe and analyse the relationship between human resource management and approaches to the recruitment, selection and retention of staff.
Explain the rationale for, and the management of, organisational change.

Download the full L & M syllabus: Word 52KB | PDF 23KB

Financial and Performance Reporting (F & PR)

Identify and explain the external financial reporting framework for the public services.
Discuss the detailed application of current statute, regulation and professional standards of practice to the public services and demonstrate this through preparation and interpretation of the key external financial statements for public service organisations.
Identify and appraise regulatory mechanisms for measuring performance in public service organisations.

Download the full F & PR syllabus: Word 54KB | PDF 24KB

Accounting for Decision Making (ADM)

Describe the role and nature of management accounting to aid in decision making, evaluating and applying a range of investment appraisal techniques to given scenarios.
Apply and evaluate the different approaches to internal and external pricing.
Account for and assess the risk to organisations in relation to differing courses of action.
Detail the benefits and costs of applying performance measures discussing their application in attaining an organisation’s goals.
Discuss and apply cost management techniques as they seek to promote the concept of a lean enterprise.

Download the full ADM syllabus: Word 45KB | PDF 23KB

Governance and Public Policy (G & PP)

Explain the various definitions and theoretical models of public policy making and differentiate public and not-for-profit decision making from that of the private sector.
Identify and describe the key elements in the structure of public policy making in the UK and the connections and power relations between them.
Identify and describe the key actors in the public policy making structures in the UK and evaluate their relative power and influence.
Demonstrate, through analysis, an understanding of the environment in which policymaking takes place with particular emphasis on factors that significantly impinge on policy making.
Consolidate knowledge of actors, structures and environments into a critical understanding of public policy strategic decision-making processes.
Encompassing all, demonstrate an understanding of the principles of governance and ethical behaviour within the public and not-for-profit sectors, including the notions of accountability, transparency, integrity and the public good.

Download the full G & PP syllabus: Word 42KB | PDF 24KB

Public Finance (PF)

Describe the main classes of public expenditure and public revenue, appreciate the differing characteristics of each, and understand their interaction with public policy-making.
Appreciate and explain the causes and implications of public borrowing and debt, their significance in the management of the economy, and their influences in the workings and regulation of the financial markets.
Describe the sources of public and private finance, and of UK Government and European financial assistance available to public service organisations, and evaluate their respective merits and demerits to those organisations.
Demonstrate an understanding of the techniques and instruments of treasury and financial risk management available to public service organisations, and of the statutory, regulatory and best practice requirements surrounding their use.

Download the full PF syllabus: Word 40KB | PDF 23KB

Taxation (T)

Explain the history and functions of taxation and critically assess alternatives to the current taxation system.
Calculate the income tax and National Insurance contributions payable in relation to an employee working in the public sector and explain the taxation treatment of different forms of employee remuneration.
Compute and discuss the implications of the corporation tax liability of a trading company operated by a public sector organisation, and select tax-efficient strategies for it.
Explain the principles of value added tax (VAT) and apply these principles to public sector organisations.

Download the full Taxation syllabus: Word 36KB | PDF 20KB

Final Test of Professional Competence

Strategic Business Management (SBM)
Strategic analysis and decision making
Strategic option appraisal
Strategic change management
Strategic planning

Download the full SBM syllabus: PDF 27KB

Finance and Management Case Study
Objective: to test the application of acquired skills rather than simply factual knowledge - to put candidates in as near as possible, a practical office situation and test reaction under a time constraint.

Download the full FMCS syllabus: Word 41KB | PDF 11KB

Read more about the old syllabus (this will open up a new window in the Current Student section).

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