The Professional Body
The DipFM is a qualification awarded by the Association of Chartered Certified Accountants (ACCA). Unlike a mainstream accountancy qualification, it is intended for business managers, in order to enable them to gain an understanding of finance-related issues, that they can then utilise in the course of their working life.
What is the qualification?
The Diploma programme has a modular design for convenience of study and to enable you to progress smoothly from basic principles to more strategic issues. Each module covers two subject areas:
- Module A: Interpretation of Financial Statements and Performance Management
- Module B: Financial Strategy and Risk Management
- Each module will be assessed via:
One examination of three hours (plus 15 minutes reading time). These are held in June and December each year in ACCA exam centres around the world - One project, issued and marked by the ACCA. A new project is issued every six months and candidates have a three month period in which to research and complete the project and submit it to the ACCA. The submission deadlines are in May and November each year.
Who is the qualification for?
Unlike many financial awareness courses, the Diploma aims to achieve a level of practical understanding that is genuinely useful in the workplace. Managers are increasingly responsible for managing their own profit centres and therefore need a similar level of financial understanding to the qualified accountants within the business. The ACCA Diploma develops this with a broad range of topics which enable managers not only to understand financial information but also link it to broader strategic decisions.
There is no time limit to completing the Diploma and it's possible to complete the course after just one year's study.
Entry requirements
The minimum entry requirement for the DipFM is a recognised degree, higher national certificate/diploma or a non-accounting professional qualification (for example a law qualification).
If you do not hold any of these qualifications, you may be admitted to the programme on the basis of your work experience. In such a situation you would need:
- An employer's reference stating that the DipFM would be relevant to your work; or
- If you are self-employed, a reference from an accountant, solicitor or bank manager
SHORT OUTLINE OF THE SYLLABUS |
MODULE A: Interpretation of Financial StatementsThe overall aim of this paper is for candidates to understand and interpret the financial statements produced by organisations for external users. Candidates should develop an understanding of the regulatory framework in which these statements are prepared and of the principles and methods which underlie their preparation. The main subject areas within the syllabus are:
Performance ManagementThe aim of the paper is to enable candidates to develop a good understanding of the knowledge required and techniques available to enable managers to measure and manage business performance within their organisation. Both financial and non-financial measures of performance are included. The main subject areas within the syllabus are:
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MODULE B:Financial StrategyThe aim of the paper is to enable candidates to develop an understanding of the role of financial strategy in the investment, finance and resource allocation decisions within an organisation. The main subject areas within the syllabus are:
Risk ManagementThe aim of the paper is to enable candidates to achieve a sound appreciation of the theoretical and practical aspects of corporate governance, and to develop an understanding of the main theories and frameworks associated with the management of both financial and non-financial risk. The main subject areas within the syllabus are:
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