CIPFA Accounting Qualifications UK: CIPFA
The Chartered Institute of Public Finance and Accountancy (CIPFA) currently provide the only set of financial courses that specialise in public finance, making this qualification an excellent choice if you are looking to work in finance within the public sector.
The CIPFA accountancy and finance course has been produced with the help of employers, students and academics making it one of the best, well rounded accountancy courses UK. CIPFA jobs include working in finance in any type of public sector environment, and even though this course specialises in public sector services, you will still be recognised as a chartered accountant once it is complete.
This accountancy course is regularly run in London and other major cities across the country. It can be completed in as little as three years. The course is split up into three levels:
(1) Professional Certificate
(2) Professional Diploma, and
(3) Strategic Level
There are four modules of study in the Certificate level, seven in the Diploma level and two in the Strategic level.
CIPFA Financial Management (FM) Module
The Financial Management (FM) module of the course is included at Diploma level and has been developed to ensure you gain an understanding and develop skills connected to financial management in a public sector organisation.
The module supports the use of the HM Treasury Green Book, which provides guidelines regarding the assessment of spending and investments in a public sector working environment. It will also incorporate the use of the CIPFA code of practice for treasury management in the public sector and the CIPFA prudential code in local authorities. This module links closely with other modules in the CIPFA course including the Management Accounting (MA) module and the Business Management module.
Financial Management - Course Aims and Weightings
Each part of the course is allocated a different percentage, and these combine to make up your final grade.
When this module has been studied and properly understood, you should be able to recall the entire syllabus and apply the following skills in a variety of situations:
• Ability to explain the purpose of financial and treasury management within a public service environment (15%)
• Knowledge of how to use financial investment appraisal techniques in order to help in evaluating capital assignments (40%)
• Ability to explain and apply good treasury management methods in order to minimise the financial risk to the work place (15%)
• Ability to show effective working capital methods (15%)
• Competence in calculating internal and external costing and take into account relevant political and organisational implications (15%)
The exam for the Financial Management module is made up of five questions. You will need to choose four of these questions to answer. Each question maps out a hypothetical situation and then goes on to ask you questions or ask you to provide discussions based on that scenario.
Practice papers and copies of past papers can be sourced online, and the CIPFA website has a free example of a past paper available to download. Make sure you read the entire scenario in full before moving onto the questions as they will not make complete sense if they are taken out of context.
Hard work and dedication is required for success, but candidates who attain the CIPFA qualification will be rewarded with a bright career path and good earning potential ahead of them.