Training and Assessment Fees


PhP 3,000

per Level


PhP 4,000

per Level


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

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


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


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


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


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


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.


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.