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Institute of Certified Financial Managers

Syllabus for *Certified Financial Manager, DipCFM* Qualification

Module "Management Accounting and Decision Making"

  • 1. The nature of management accounting.
  • 2. Classification of costs for decision-making.
  • 3. The concept of cost management.The behavior of costs.
  • 4. Analysis"costs- volume -profit."Break-even point.
  • 5. The management format of the report of profit and loss account.
  • 6. Analysis of the structure of sales and profitability of selected products.
  • 7. Pricing based on costs.
  • 8. Budgeting, types of budgets,general budget.
  • 9. Responsibility centers.
  • 10. Financial control: financial performance.
  • 11. Instruments of financial control: a flexible budget, transfer pricing, the effectiveness of their investment.
  • 12. Segment reporting.
  • 13. Management control: non-financial indicators of performance.
  • 14. The development of management control systems:a balanced system performance.

SAMPLE EXAMINATION PAPER FOR 'MANAGEMENT ACCOUNTING AND DECISION MAKING' MODULE

 Module "Investment Management"

  • 1. The concept of investment, types of investments.
  • 2. Investment environment: markets, institutions and interest rates.
  • 3. Risk and return: portfolio theory.
  • 4. Portfolio analysis.
  • 5. Capital asset pricingmodels.
  • 6. Derivative financial instruments: evaluation and risk management.
  • 7. Evaluating the effectiveness of portfolio management.
  • 8. Making decisions about capital investment, classification of projects.
  • 9. The investment project, project evaluation methods.
  • 10. Forecasting and risk analysis of project cash flows.
  • 11. Investment project financing schemes.
  • 12. Evaluating the effectiveness of the investment project.
  • 13. Management of investment projects.

 Module "Law"

  • 1. The financial activities of the state.
  • 2. Financial law of the Russian Federation.
  • 3. State financial control in the Russian Federation.
  • 4. Budget law of the Russian Federation.
  • 5. The legal regulation of state and municipal revenues.
  • 6. Tax law of the Russian Federation.
  • 7. Federal taxes and fees.
  • 8. Regional and local taxes.
  • 9. The legal regulation of state crediting the Russian Federation.
  • 10. Insurance law of the Russian Federation.
  • 11. The legal regulation of public expenditure.
  • 12. Financial and legal regulation of banking activities.
  • 13. Legal provision and regulation of the securities market in the Russian Federation.
  • 14. Financial and legal regulation of the monetary system of the Russian Federation.
  • 15. Legal regulation of money circulation and settlements in the Russian Federation.
  • 16. Investment law of the Russian Federation.
  • 17. Fundamentals of monetary law of the Russian Federation.
  • 18. Legal basis of accounting in the Russian Federation.