ICAEW CFAB - what's involved
Suitable for everyone, the ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) teaches essential practical skills and knowledge for today’s competitive business world. Having this knowledge can help you get a job, a promotion or can help open up new career options for you
The essentials of business, accounting and finance are covered across six modules. You can take these in any order and at any time. All of the exams are examined in English. You gain a certificate for each module you sit and pass to help demonstrate your achievements as you progress. Once you complete all of the ICAEW CFAB exam modules, you’ll receive a certificate of achievement from ICAEW - a world-leader of the accountancy and finance profession.
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Before you start: Is there an exam centre near you?
Before you commit to studying for ICAEW CFAB, check there is an exam centre near you (or one that you can travel to). The ICAEW CFAB exams are examined by computer-based assessment and you need to sit each of the exams at an approved exam centre. Search for an ICAEW approved test centre or through the Pearson Vue exam network
If there is no exam centre near you, then you will need to decide if studying for ICAEW CFAB is right for you.
Before you start: Exam credit / exemptions
There are up to five exam exemptions (also known as credit for prior learning - CPL) available at ICAEW CFAB. Exam credit is available if:
- you are studying for, or already hold a recognised university degree that contains components in business, finance, accounting or law, or
- you are studying for, or already hold a relevant professional accountancy qualification (eg, AAT, ACCA etc).
If you are eligible for exam exemptions at ICAEW CFAB, it could mean that you just need to study for, and sit a few of the exams to gain the ICAEW CFAB qualification.
The Accounting module is compulsory for all students. The only exception is for AAT qualified individuals who have also passed the ACA Financial Accounting top-up paper or university students who have also passed the ACA Financial Accounting paper.
Exam modules: what you’ll learn
There are six modules which you can study in any order. There are no set exam dates, so you can study for and sit the exams throughout the year whenever you are ready. The ICAEW CFAB modules cover the essentials and help you understand how a business really works.
Certificates of achievement
For every module you sit and pass, we will post a certificate of achievement to you in recognition of the new skills and knowledge you have gained. Remember to add that you are studying for the ICAEW Certificate in Finance, Accounting and Business (ICAEW CFAB) to your CV/career résumé or job applications.
Then as you pass each module, you can also add the name of the module and the percentage pass mark you achieved. This will help employers to see that you are gaining the business-essential skills they are looking for. Remember to take your ICAEW CFAB certificates to your job interviews with you to show employers proof of your new skills.
Once you complete all the six modules, we will send your final ICAEW Certificate of Finance, Accounting and Business (ICAEW CFAB) qualification certificate to you.
How and where can I study?
Whatever your existing commitments or preferred learning style, there are study options to suit everyone – classroom tuition, online learning, self-study and more. Some study options are not available in some countries.
You’ll attend a classroom with other students and be taught by experienced tutors. This environment also allows you to ask questions and network with other students. The cost of the ICAEW CFAB learning materials is normally included in the tuition course fees.
If you are unable to attend classes, then online learning could be ideal for you. Online learning will usually involve a mix of tutor sessions and self-study support. Tutor sessions could be delivered online in a number of ways including recorded tutorials or live online tutorials.
This is an ideal option if you want to study for ICAEW CFAB on your own without tutor support. You’ll need to purchase the official ICAEW CFAB learning materials directly from our distributors, Gillards.
Blended learning allows you to choose the study option you prefer on a module-by-module basis, depending on the level of support you / your employer feels you need. As an example, you could take two modules through online learning, three through classroom tuition and one through self-study.
Support from ICAEW during your studiesOnce you register as an ICAEW CFAB student, you will be able to access lots of free resources to help you during your studies including:
- webinar recordings, study guides, sample questions to practice, videos, syllabus, study tips from tutors and much more,
- our online student community – you can ask your fellow students a question or find someone to study with,
- free access to our skills development tools to help you develop your employability skills (presentation, problem-solving, teamwork, managing others and more),
- free access to an online Excel training programme to help you develop your computer skills through self-tests, video tutorials, practical exercises and more, and
- e-newsletters with the latest business news, career guidance, job alerts and exam updates.
Towards chartered accountancy
You could study ICAEW CFAB as part of your journey towards a stable, varied and lucrative career in chartered accountancy or any area of business.
£180 (+VAT) - this is a one-off fee payable at the point of registration
Please note from 01 January 2023, the annual student fee will be £185 + VAT (if applicable).
£75 per exam attempt
The exam fees are changing from 01 July 2023 to £80 per exam
|Learning materials||2022 learning materials are £33 per subject
2023 learning materials are £34 per subject
|Tuition||Costs may vary by location, study option and by tuition provider|
How do I enrol?
You need to register with ICAEW to begin your journey as an ICAEW CFAB student.