PURE ONLINE TRAINING AND EXAMINATION

Training and Assessment Fees

Student

PhP 3,000

per Level

Professional

PhP 4,000

per Level

Schedule
Registration and Enrollment
Training Policies

Overview

CFA Level 1

Registered Financial Accountant I

CFA Level 2

Registered Financial Accountant II

CFA Level 3

Certified Financial Accountant

The field of financial reporting has been made more interesting in the recent years than ever. The strong demand for reliable and relevant financial reports is certain to occur in the centuries ahead. It will grow steadily especially at times when the business environment and its systems keep on changing leading to new rules and standards in financial reporting.

Compliance to financial reporting standards is becoming more technical and integrative of other professional fields. This brings greater demand for skilled and trusted financial accountants to assist entrepreneurs, corporate executives, community leaders, and government agencies in meeting their needs for economic decision and regulations.

As financial accounting integrates to the domain of several fields of practice, this professional practice requires a thorough understanding of the standards and regulations governing financial instruments, strategic accounts, and operating accounts. It also demands professional objectivity in presenting financial reports while upholding the interests of its users.

As users ask for a reasonable estimation of the future, the preparers of financial reports has to adopt applicable models from corporate governance, statistics, economics, financial management, taxation, and legal rules and procedures in order to comply to new and evolving standards in order to provide relevant financial reports. This wide range of knowledge and technical expertise require competent skills certifications to be acceptable in countries around the world to ensure the objectivity and integrity in the financial reporting processes.

Benefits of CFA
  • Entitlement to the post initial, RFAI, RFAII, and CFA.
  • Designation as

— Registered Financial Accountant I
— Registered Financial Accountant II
— Certified Financial Accountant.

Course Outline

Level 1 Level 2 Level 3

Registered Financial Accountant I

Introductory Module

  • Time Value of Money
  • IFRS 5 – Discountinued Operations


Financial Assets

  • Cash and Cash Equivalents
  • Loans and Receivables (Financial Assets at Amortized Cost)
  • Investment in Equity Securities
  • Investment in Debt Securities
  • IAS 28 – Investment in Associates
  • Basic Derivatives (excluding Hedging)


Financial Liabilities

  • Accounts Payable
  • Notes Payable
  • Bonds Payable
  • Debt Restructuring


Economic Analysis

  • Microeconomic analysis
  • Macroeconomic analysis


Registered Financial Accountant II

PART 1

Non-Financial Assets

  • IAS 2 – Accounting for Inventories
  • IAS 16 – Property, Plant and Equipment
  • IAS 20 – Accounting for Government Grant and Disclosure of Assistance
  • IAS 38 – Intangible Assets
  • IFRS 6 – Exploration and Evaluation Assets
  • IAS 36 – Impairment of Assets
  • IAS 40 – Investment Property
  • IAS 41 – Agriculture
  • IFRS 5 – Non-current assets held for sale


Non-Financial Liabilities

  • IAS 37 – Provision, Contingent Liabilities and Assets
  • Unearned Revenues


PART 2

Shareholders’ Equity

  • Share Capital Transactions
  • Accounting for Dividends
  • Accumulated Profits
  • Other Comprehensive Income
  • Book Value per Share
  • Earnings per Share
  • Share-based payments


Special Topics

  • Borrowing costs
  • Leases
  • Income taxes
  • Employee benefits
  • Interim reporting
  • Operating segment
  • Related party disclosures
  • Small-medium enterprises


Certified Financial Accountant

PART 1

Partnership Accounting

  • Partneship Formation
  • Partnership Operation
  • Partnership Dissolution (Changes in Ownership Composition)
  • Partnership Liquidation


Special Revenue Recognition

  • Accounting for installment sales contracts
  • Long-term construction contracts
  • Commercial franchise operations – point of view of franchisor



PART 2

Group Accounts

  • Accounting for Home Office, Branch and Agency Transactions
  • Accounting for Business Combination
  • Consolidated Financial Statements
  • Joint Arrangements


Effects of Changes in Foreign Currency Exchange Rates

  • Accounting for Foreign Currency Transactions
  • Foreign Currency Hedging Activities using Derivatives
  • Preparation of Foreign Currency Financial Statements


Other Special Transactions

  • Corporate liquidation
  • Accounting for insurance contracts by insurers
  • Not-for-profit organizations
  • Accounting for build-operate-transfer (BOT)


How to Get Certified

Training

Register for the CERTS training to gain access to learning resources such as video lectures, study notes, exercises, and assessments.
Attend the live Online Mentoring Session (OMS) as schedule to further refine your preparation.

Simulation Exam

Take the Simulation Examination (SimEx) as scheduled. It comprises of sixty (60) questions for three (3) hours. A learner must earn a rating of at least 35/60 to qualify for the Actual Examination. A learner who failed the SimEx may retake on the next schedule for a minimal fee.

Examination

Qualified candidates shall be indorsed for the CFA examination as scheduled. The examination comprises of sixty (60) questions budgeted for three (3) hours. An examinee must earn a minimum rating of 75% to pass.

Title / Certification

Candidates who passed the CFA examination may now apply for certification. The same certification may then be submitted for accreditation with the Asia Pacific Professionals Association (APPA) Foundation and other professional institutes.