Profile of the Programme:
Awarded by the oldest, most prestigious, and largest accountancy body in Europe – The Institute of Chartered Accountants in England and Wales – BFP is ideal for anyone who either works, or wants to work, in business or practice including school leavers and university graduates.
This exciting new designation has been developed as a form of recognition for professionals who have gained the essential knowledge, skills and experience necessary for a successful career in business and finance.
The BFP designation also offers improved employability prospects, as well as access to a range of information, training and services to support ongoing personal and professional development.
There are three key elements to complete before you can apply for your BFP designation:
- ICAEW CFAB: The Certificate in Finance, Accounting and Business is a certificate-level qualification from ICAEW and provides essential knowledge and practical skills in finance, accounting and business. ICAEW CFAB is of particular value to aspiring ACA candidates who wish to gain a more competitive edge as they apply for training contract with ICAEW authorised training employers. It is also considered a route for the ACA qualification, as it covers the first six modules (Certificate Level).
- Ethics Learning Program: Ethics is more than just knowing the rules around confidentiality, integrity, objectivity and independence. As an ICAEW Business and Finance Professional candidate you are expected to be able to identify ethical dilemmas, understand the implications and behave appropriately. To qualify as a BFP you need to complete ICAEW’s online Ethics Learning Program and achieve a score of at least 70%.
- Work Experience: to become an ICAEW BFP, candidates must demonstrate that have 12 months’ full-time (35 hours per week) work experience in a business and finance role, or the pro-rata equivalent if they have been working part-time. During this period of work experience specific skills should be acquired, as described on the relevant website
There are no minimum entry requirements to do the ICAEW CFAB qualification and is open to all; school leavers, graduates, and employees working in business and finance or professionals considering a career change. ICAEW CFAB is a very flexible program and Globaltraining provides courses online and in-class. Candidates can register and take the computer based exams at ICAEW approved test centers upon their demand, at any time of year.
The CFAB Modules
Part of the BFP designation is CFAB (The Certificate in Finance, Accounting and Business), a certificate-level qualification from ICAEW. The modules included in this certificate are identical to the first six modules of the ACA qualification.
The CFAB courses cover all aspects of Accountancy, Finance and Business. The modules can be taken in any order and candidates must pass every ACA exam (or receive credit for prior learning) – there are no alternate options. This ensures that once completing this route, all ICAEW BFP will have a consistent level of knowledge, skills and experience.
The fundamental courses of CFAB have a 1.5-hour computer-based assessment, which can be sat at any time. These are the following;
Fees Payable to ICAEW:
Registration Fee – £165 (+ VAT where applicable)
Computer – based Assessment Fee – £65 per assessment