CF qualification study route

The first step to gaining the Corporate Finance qualification.

We are pleased to announce that we are working in partnership with CISI (Chartered Institute for Securities and Investment) to launch a new Diploma in Corporate Finance later in 2012.

This diploma will offer a new route to the award of the Corporate Finance qualification and CF designation.

Full details about this new diploma including how to register for the exams and tuition will be available in June.

The new programme will:

• provide a practically grounded, transactions-orientated diploma in corporate finance;
• underpin the increasing knowledge and skill requirements of corporate finance executives from industry entrants to those on the verge of appointment to director or vice president level;
• enhance the scope and depth of knowledge and skills of corporate finance professionals benchmarked against current industry practice;
• reinforce and enhance the key skills required for senior corporate advisory work;
• provide a common knowledge base that establishes and maintains high standards of professional skill and care in all corporate finance transactions.

Key information about this diploma

• The syllabus and structure of this new diploma will supersede the ICAEW diploma and advanced diplomas in corporate finance. The syllabus has been updated to reflect market and employer needs and the structure has been simplified; the diploma and advanced diploma will be replaced by this new Diploma in Corporate Finance. The two exams have been mapped to the former diploma and advanced diploma to ensure that the academic level has been maintained.
• There will be two exams for this new Diploma in Corporate Finance:
  • Paper 1 - Corporate Finance: Techniques and Theories
  • Paper 2 - Corporate Finance: Strategy and Advice
  • The first exams sittings for both papers will take place in December 2012. Students who have achieved the previous diploma in corporate finance will be eligible to study for the Corporate Finance: Strategy and Advice exam and will not have to complete the Corporate Finance: Techniques and Theories exam.
• On successful completion of the two exams, students will be awarded the new Diploma in Corporate Finance. This diploma will be jointly awarded by ICAEW and CISI and will be recognised as a Level 6 qualification on the UK National Qualifications Framework.
• Distance learning supported by face-to-face revision workshops will be available. Further details about tuition providers will be available in June.
• Registration for the December 2012 exams and tuition will be available from June 2012.
• Entry requirements: This new diploma has been developed for holders of the CISI Certificate in Corporate Finance and ICAEW members.
• The CF qualification and CF designation will be awarded to students who successfully complete both exams and can demonstrate appropriate practical experience.

The syllabus

Paper 1 – Corporate Finance: Techniques and Theories

Aim

To provide a thorough understanding of techniques, theories and issues found in practical corporate finance situations.

On completion of this module, students will be able to:

• undertake a high level of financial statement analysis;
• value a range of undertakings across industry sectors;
• conduct an advanced analysis of debt and equity requirements in given situations;
• establish how, and whether, value is created in mergers, disposals and acquisitions; and
• detect the relevance of UK and EU regulatory requirements to current situations and proposed actions.

Specification grid

This grid provides a general guide to the subject matter within this module and assessment coverage over a period of time.

• • Syllabus area
  • Weighting (%)
• • 1. Financial Statement Analysis
  • 20
• • 2. Valuation
  • 20
• • 3. Debt and Equity
  • 20
• • 4. Mergers, Acquisitions and Disposals
  • 20
• • 5. Regulation, Governance and Ethics
  • 20
• • 100

Paper 2 – Corporate Finance: Strategy and Advice

Aim

To provide a detailed understanding of issues, disciplines, regulations and strategies involved in advising on and implementing companies’ corporate finance objectives. This covers: changes in control and restructuring; mergers and acquisitions; debt and equity issues; and strategic financial management.

On completion of this module, students will be able to analyse and evaluate:

• business strategy;
• mergers and acquisitions; and
• corporate performance and reconstructions of domestic and international businesses.

This module will also ensure that candidates can analyse and evaluate complex business issues and provide advice upon them.

Specification grid

This grid provides a general guide to the subject matter within this module and assessment coverage over a period of time.

• • Syllabus area
  • Weighting (%)
• • 1. Corporate Strategy
  • 15 - 35
• • 2. Mergers and Aquisitions
  • 35 - 50
• • 3. Corporate Performance and Reconstructions
  • 35 - 50

 

Corporate Finance Examination of Experience route

The Corporate Finance Examination of Experience route is still available for candidates who are able to demonstrate the required level of practical experience.

The next submission deadline for this route is 15 October 2012. Completed applications for this route can be sent to ICAEW any time before this date. Further details are available at icaew.com/cf

If you would like to receive information as it becomes available, you can either email us or register your interest below.