ICAEW CFAB

By completion of this module, students will be: • proficient in double-entry accounting techniques and the maintenance of accounting records; • able to identify and correct omissions and errors in accounting records and financial statements; • and able to specify the components of financial statements and prepare and present non-complex financial statements for sole traders, partnerships and limited companies. This is assessed via multiple-choice and scenario-based questions.

The ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) is an internationally recognised certificate that teaches essential knowledge in business, finance and accounting.

This module provides students with an understanding of how businesses operate and how finance functions help businesses achieve their objectives. This is examined over 1.5 hours via multiple-choice questions.

This exam module covers: • the nature of contractual agreements, the agency relationship and the consequences of negligence; • the legal implications of incorporation, including the roles of shareholders and directors, and the main implications of insolvency law; • identifying instances of criminal behaviour that professional accountants may encounter; and • other key areas in which the law affects the role and work of the professional accountant. This is examined over 1.5 hours via multiple-choice questions.

This exam module enables students to prepare essential financial information for the management of a business. This is examined over 1.5 hours via multiple-choice and scenario-based questions.

By completion of this module, students will understand the general objectives of taxation and be able to calculate income tax, national insurance contributions, capital gains tax, corporation tax and VAT in straightforward scenarios. Learning is based on the UK system of taxation. This is assessed via multiple-choice and scenario-based questions.

Students will have been examined on assurance concepts, processes and the fundamental principles of ethics, and can demonstrate they are able to contribute to the assessment of internal controls and gathering of evidence on an assurance engagement. This is assessed via multiple-choice questions.