CFM

This professional title signifies the competence of the professional accountant to join the executive management team of the organization. It covers the areas of planning and control directly related to profit management such as profit planning, short-term budgeting, performance evaluation, and special operating decisions. It further includes pricing strategies and strategic management accounting techniques.

Management is technically and critically demanding as to the quality of financial and non-financial information they need as a basis in making economic decisions. That the information provided to management must be the most developed and made available based on the data gathered and the techniques used to process them.

As management is grappled with the ever-changing landscape of the business environment and the awful uncertainties that beset it, the timing, content, coverage, and quality of information they need also adjust accordingly. To this, the professional management accountant must continuously upskill itself concerning new regulations, technologies and management philosophies to secure relevance in its services.


Level 1
Level 2
Level 3

Course Outline

Level 1. Registered Personal Finance Practitioner

Time Value of Money

  • Time Value of Money
  1. Time Value of Money Concepts– Nature of Interest – Simple and Compound– Future Value– Present Value


Economic Analysis

  • Micro economic analysis
  1. Fundamental economic principles and the law of diminishing returns
  2. Demand schedule
  3. Supply schedule
  4. Economic exchange, economic cycle and government intervention
  5. Economic profit
  6. Market structure


  • Macro economic analysis
  1. Public welfare and national income
  2. Classical economics
  3. Keynesian economics
  4. Fiscal economics
  5. Monetary economics
  6. Neo-Keynesian economics


Working Capital Management

  • Basic Principles in Working Capital Management
  1. The Business Hedging principle
  2. Financing policy on working capital management
  3. Operating policy on managing profitability and liquidity
  • Cash and marketable securities management
  1. Basic principles in cash management
  2. Effective borrowing rate
  3. Optimal cash investment to marketable securities
  4. Cash synchronization management
  5. Managing short-term investments


  • Trade receivables management
  1. Basic principles in trade receivables management
  2. Managing the trade credit and collection policy
  3. Receivable days management
  4. Effective discount rate on receivables


  • Inventory management
  1. Inventory management environment
  2. ABC, 2-Bin, Red-line, Minimum-Maximum Inventory models
  3. Economic order quantity
  4. Re-order point
  5. Optimal safety stock
  6. Modern inventory management models


  • Short-term financing management
  1. Types of short-term financing
  2. Effective borrowing rate


Code of Ethics

Level 2. Associate Financial Data Analyst

Time Value of Money

  • Time Value of Money
  1. Time Value of Money Concepts
  2. Nature of Interest – Simple and Compound
  3. Future Value
  4. Present Value


Financial Statement Analysis

  • Financial statements analysis
  1. Basic concepts in financial statements analysis
  2. Horizontal analysis
  3. Vertical analysis
  4. Trend analysis
  5. Financial mix ratios: Leverage ratios
  6. Financial mix ratios: Profitability ratios
  7. Financial mix ratios: Growth ratios
  8. Financial mix ratios: Liquidity ratios


Cost of capital, business leverages, and optimal capital structure

  • Cost of Capital
  1. Basic concepts in cost of capital
  2. Growth Model and the weighted average cost of capital (K)
  3. Capital Asset Pricing Model (CAPM), Bond Yield Model and Arbitrage Pricing Model


  • Business leverages
  1. Operating and financial leverages
  2. Marginal cost of capital and financial breakpoints
  3. Optimal cost of capital and capital structure


  • Long-term Financing


Capital Investment Analysis


  • Capital Budgeting
  1. Fundamental principles in strategic investment management
  2. Net cost of strategic investment
  3. Concept of recovery
  4. Project evaluation techniques: Traditional Models
  5. Project evaluation techniques: Discounted Models
  6. NPV v. IRR


  • Financial Valuation
  1. Topic mapping. Financial valuation
  2. Market approach or Sales comparison approach
  3. Income approach
  4. Cost approach or Asset approach


Level 3. Certified Financial Manager

All Topics in Level 1

All Topics in Level 2

International Financial Management

  • Quantitative techniques applied in business
  • Project feasibility study