The Certified Professional Financial Accountant (CPFA)™ certification grants accounting professionals the prestigious designation of Certified Financial Accountant. This globally recognized credential demonstrates a candidate’s skill, experience, and dedication to their career, opening doors to higher positions, pay, and professional growth.
Developed for learners with little or no previous knowledge of accounting, the CPFA™ provides a strong foundation for individuals seeking a career change or professional advancement. Businesses of all sizes and sectors—including nonprofits—depend on efficient accountancy for financial management, profitability, and compliance. With CPFA™, professionals gain industry-relevant expertise to meet this global demand.
Course Details
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E-Course Duration: 30 to 35 Hours
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Exam Pattern: 50 Multiple Choice Questions (80% passing – 40 out of 50 correct)
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Exam Duration: 60 Minutes
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Exam Format: Online, non-proctored, available anytime within 8 months
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Exam Attempts: 2 attempts per voucher (additional vouchers can be purchased)
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Certification Validity: Lifetime
Course Outline
Module 1 – Accounting: Merchandising Transactions
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Merchandising Transactions
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Gross Selling Price
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Returns and Allowances
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Cost of Goods Sold
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Classified Income Statement
Module 2 – Measuring and Reporting Inventory
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Merchandise Inventory
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Determining Inventory Costs
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Four Inventory Costing Methods
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Pros and Cons of the Four Methods
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Journal Entries for Perpetual Inventory Procedure
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Departures from Cost Basis for Inventory Measurement
Module 3 – Accounting: Control and Monitoring of Cash
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Control of Cash
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Internal Controls
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Controlling Cash
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Bank Checking Account
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Bank Reconciliation
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Petty Cash Fund
Module 4 – Accounting: Receivables and Payables
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Accounts Receivable
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Uncollectable Accounts
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Write-offs and Recoveries
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Current Liabilities
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Notes Receivable & Notes Payable
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Short-Term Financing through Notes Payable
Module 5 – Adjustments for Financial Reporting
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Cash vs Accrual Basis Accounting
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Classes and Types of Adjusting Entries
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Adjustments for Deferred Items (Expenses, Depreciation)
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Adjustments for Accrued Items
Module 6 – Accounting and Its Use in Business Decisions
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The Accounting Environment
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Definition and Overview of Accounting
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Financial Statements of Business Organizations
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The Financial Accounting Process
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How Transactions Affect Income Statements & Balance Sheets
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Dividends and Equity Ratios
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Corporate vs Sole Proprietorship or Partnership Accounting
Target Audience
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Candidates interested in working in accountancy
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Individuals seeking a career in finance
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Business owners/managers managing their own accounts
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Existing accountancy workers seeking promotion
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Professionals without formal qualifications in accounting
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Anyone looking to enhance their career prospects
