Introduction
The ACCA Diploma in Financial Management provides the practical knowledge you need to take the fear out of accounting and finance and ensure confident
participation in financial statements. This qualification is aimed at middle and senior managers with financial responsibility.
Based on ACCA’s highly successful Certified Diploma in Accounting and Finance, which has been completed by nearly 10,000 managers worldwide, the Diploma has an established reputation. The Diploma covers a range of key areas, including how to interpret financial statements, plan, manage and measure performance using budgets and other financial techniques, make financial decisions and manage all kinds of financial risk.
Course Objectives
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 centre 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.
One of the major benefits of studying for the Diploma in Financial Management is that it is recognized by a number of leading universities as covering up to a third of their MBA programs. This means that when qualifying with the Diploma you will be able to gain accelerated entry to many of these programs.
Entry Requirements
The minimum entry requirement for the Diploma is a recognized degree, higher national certificate/ diploma or a non-accounting professional qualification.
Individuals who do not hold these qualifications may be admitted on the basis of their work experience. In these circumstances, you are normally required to be at least 23 years old and you should be able to demonstrate, with an employer’s reference, that the Diploma will be relevant to your work. If you are self-employed, a reference from an accountant, solicitor/attorney or bank manager will be required.
Course Duration
The DipFM course is of 12 month duration and includes a series of lectures, presentations, case studies and workshops. The course is offered via a “block release” system of approximately 150 hours, starting in January and July for the December and June examination respectively.
There is no limit to completing the Diploma; it is possible to complete the course after just a 9-month study. This is a small commitment to make for a thorough
understanding of finance and the ability to work confidently with financial information.
Important Dates
You can apply to register for the DipFM at any time.
ACCA must receive your registration form by the following dates:
■ For the June examinations you must register by 15 April of the same year
■ For the December examinations you must register by 15 October of the same year
Course Structure
The Diploma program is made of a combination of examinations and project-based assignments, set and marked by ACCA. You have to pass two 3-hour examinations covering all areas of the syllabus and two projects, which you can complete in your own time.
This combination of examinations and projects ensures a detailed knowledge of the subject areas, as well as an ability to practice your financial skills using realistic case studies and examples.
The Diploma program has a modular design for convenient study. Each module covers 2 subject areas:
Module A
1. Interpretation of Financial Statements
2. Performance Management
Module B
1. Financial Strategy
2. Risk Management
Each module will be assessed through:
■ One 3-hour examination
■ One project
Examination Rules
As mentioned earlier, each of the 2 modules will be assessed via a 3-hour examination and a project. ACCA offers 160 examination centers worldwide, and sessions are held twice a year in June and December. One or both examinations can be taken at one sitting.
The examination for each module covers the 2 subject areas in that module and is assessed via a combination of multiple choice and written questions. Like the
examination, the project is also based on the subject areas covered by the module, but it can be completed in the student’s own time and submitted to ACCA for marking, prior to examinations sessions in June and December.
Both the examination and the project must be success fully completed in order to achieve an overall pass in the module.
On successfully passing both modules, you will receive a certificate and the entitlement to use letters DipFM after your name.
You will be provided with a Diploma Handbook which includes detailed syllabus and study guides. In addition, ACCA will provide a study text for each subject area which is included in the Initial Registration fee.
IntercollegeIBS will provide you with study texts, question banks and course notes.