Certified Associate in Financial Management (CAFM)

Course Overview

Certified Associate in Financial Management is a basic course for professionals with a non-finance background. This course easily simplifies the terms and gives a practical understanding of the Key Financial Principles and tools.

This course will give a basic understanding and the working knowledge of Finance helping the managers to make informed decisions.

Exam Format

  • Closed Book
  • 75 Questions, 1 mark each
  • 75 minutes


There are no pre-requisites for this course.

Target Audience

Anyone with a non Finance Background who wish to understand Financial Management

Course Outline

Module 1: Financial/ Accounting Term and Techniques

  • Objectives, advantages and limitations
  • Types of Accounting information; users of Accounting information and their needs
  • Business transaction, account, capital, drawings, liability (Non - current and current) asset; (Non - current; tangible and intangible assets and current) assets
  • Receipts (capital and revenue), expenditure (capital, revenue and deferred expense, income, profits, gains and losses, purchases,purchases returns, sales, sales returns,stock Trade receivables debtors and bills receivable),
  • Trade payables(creditors and bills payable), goods, cost, vouchers, discount - trade and cash

Module 2: Concepts and Convention of Accounting

  • Fundamental accounting assumptions: going concern, consistency and accrual.
  • Accounting principles (GAAP): accounting entity, money measurement, accounting period, full disclosure, materiality, prudence, cost concept, matching concept and dual aspect.

Module 3: Accounting Process

  • Accounting equation: analysis of transactions using accounting equation.
  • Rules of debit and credit: for assets, liabilities, capital, revenue and expenses.

Module 4: Taxation

  • Meaning of tax and taxation
  • Tax Terms
  • Types of Tax

Module 5: Concepts of Business law

  • Meaning of Business Law
  • Types of Business law - Small Business Law ; Business Formation Laws; Zoning Law; License Laws; Tax Laws; Employee Laws; Health, Fire and Air, and Water Pollution Department Las; Intellectual Property Laws.

Module 6: Principles and Function of Management

  • State the meaning, nature and significance of principles of management.
  • Explain Taylor’s principles and technique of Scientific Management.
  • Fayol’s principles of Management.
  • Functions of Management : Planning ,Organising, Staffing ,Directing and Controlling

Module 7: International Financial Reporting Standard

  • Meaning of IFRS
  • History of IFRS
  • Objective of financial Statement
  • The qualitative characteristics of Financial statement
  • Elements of Financial statement
  • Requirements of IFRS
  • Adaption of IFRS