CERTIFIED FINANCIAL MANAGERÒ
Background
The
last sixty years or so have witnessed remarkable changes in the theory and
practice of finance. The field of finance has benefited from seminal ideas (like
portfolio theory, value additivity principle, efficient market hypothesis,
capital asset pricing model, option pricing theory, agency theory, and
behavioural economics), rigorous empirical studies, and innovative applications
of quantitative techniques. This has led to improved methods and more
sophisticated approaches in a number of areas like financial analysis, financial
planning, security valuation, portfolio management, capital budgeting, capital
structure planning, project financing, option pricing, risk management,
valuation of companies, corporate restructuring, and value based management.
The field of finance is one in which academic
discoveries get translated into practice rather rapidly. This is motivated by
the pressure to create value for shareholders which has become the mantra of
companies around the world.
This programme presents the essence of modern finance and provides a
roadmap to new ideas that every finance professional should know.
Objectives
Designed
to enhance the capabilities of finance professionals this programme seeks to:
·
Impart
a sound understanding of the key principles of financial
economics.
·
Develop
skills in applying improved methods of financial analysis.
·
Discuss
the state-of-the-art professional practices.
·
Help
participants in becoming ‘Value Managers’.
Programme
Coverage
The
programme comprises of two papers as follows :
Paper
1 : Investment Analysis and Portfolio Management
Investment Setting
Financial Statements and
Accounting Standards
Basic Investment Concepts
Portfolio Theory and
Asset Pricing Models
Behavioural Finance and
Neuroeconomics
Bond Analysis and Bond
Portfolio Management
Equity Shares
:Fundamental and Technical Analysis
Mutual Funds, Real
Assets, and International Investing
Options and Futures
Portfolio Management :
Investment Policy
Professional and
Institutional Money Management
Investment Guidelines and
Strategies of Great Masters
Paper
2 : Valuation and Value Creation
Overview and Financial
Planning
Basics of Financial
Management
DCF Approach to Corporate
Valuation
Non-DCF Approaches to
Corporate Valuation
Advanced Issues in
Corporate Valuation
Corporate Objective and
Performance Measurement
Strategy, Business Model,
and Resource Allocation
Strategic Financing
Decisions and Cost Management
Corporate Risk
Management
Mergers, Acquisitions,
and Restructuring
Organisational Design and
Corporate Governance
Value Based Management
and Stellar Value Creators
For
Whom
The
Certified Financial Manager programme is meant for corporate finance executives,
accountants, consultants, financial analysts, and bankers. In addition, it will
benefit students of professional programmes and post-graduate courses.
The following are eligible to apply to the Certified Financial Manager
Programme:
·
CAs,
CWAs, CSs, CAIIBs, MBAs, PGDBAs and students of these programmes.
·
Postgraduates
with qualification like M.Com, MFA, MFC, MBE and students of these programmes.
·
Class
I Officers in Central and State Government Services.
·
Directly
recruited officers in banks, insurance companies, and financial institutions.
·
Software
professionals interested in acquiring domain knowledge in finance.
Fees
The fees is Rs.11000 which
is all-inclusive. It covers , admission, courseware, querying facility, web-learning support,
examinations (the facility of making 2 online registrations), certification and service
tax.
Format and Duration
This
is a distance education programme of six-months duration.
Distinctive Features
The distinctive features of this programme are as
follows :
1.
1. It
focuses sharply on the following issues which are central to the concern of a
finance professional :
Valuation How should financial assets (bonds, stocks and
derivatives) and real assets (projects and companies) be valued?
Risk Management How
should one analyse and deal with the volatility of financial prices ?
Portfolio Management How can one develop a portfolio in a systematic
manner and manage it in a disciplined manner over time?
Value Creation What are the ways and means by which managers can
enhance the value of a company?
. 2. It blends the conceptual world of the scholar with the “how to do it” view of the practitioner.
3 3 3. It takes a pragmatic approach, highlighting useful insights from various sources. As a result, it synthesizes a range of perspectives instead of focusing on a
single
silo of ideas.
Enrollment
You
can enroll for the Certified Financial Manager (New Regulation) Programme
from June 1, 2011 onwards.
The first set of examinations under New Regulations will be held on January 28
& 29, 2012. Your enrollment will be valid till July 31, 2012.
For
online enrollment in the programme, please, visit our website : www.cfm-india.com.
Online
enrollment will begin from June 1, 2011.
Courseware
On
enrollment to the programme, the courseware
will be dispatched to you within two weeks of receiving your application.
Examinations
for both the papers will be held twice a year in the months of January
and July. The maximum time allowed to complete the programme is 1 year. Those
who pass the programme will be awarded the qualification CERTIFIED FINANCIAL MANAGER
issued by the CENTRE FOR FINANCIAL MANAGEMENT.
Programme Highlights
State of the art
curriculum
World class courseware
Web learning support
Excellent student service
Access to CFM Quarterly
(an e-Journal)
Modest fees.
For further details relating to the rules and regulations, examinations, examination schedule, examination centres, internet querying facility, provision for refund, and so on will be loaded on the website shortly .
CERTIFIED
FINANCIAL MANAGER (NEW REGULATION)
DETAILED
CURRICULUM
PAPER
1 : INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT
Module
1 : Investment Setting
·
Overview
·
Investment
Alternatives
·
Securities
Markets
·
Tax
Aspects of Investments
Module
2 : Financial Statements and Accounting Standards
·
Financial
Statements
·
Accounting
Standards
·
Financial
Statement Analysis
Module
3 : Basic Investment Concepts
·
Risk
and Return
·
The
Time Value of Money
Module
4 : Portfolio Theory and Asset Pricing Models
·
Portfolio
Theory
·
Capital
Asset Pricing Model
·
Arbitrage
Pricing Theory and Multifactor Models
·
Efficient
Market Hypothesis
Module
5 : Behavioural Finance and Neuroeconomics
·
Behavioural
Finance
·
Neuroeconomics
Module
6 : Bond Analysis and Bond Portfolio Management
·
Bond
Prices and Yields
·
Bond
Portfolio Management
·
Equity
Valuation Models
·
Macroeconomic
and Industry Analysis
·
Company
Analysis
·
Technical
Analysis
Module
8 : Mutual Funds, Real Assets, and International Analysis
·
Mutual
Funds
·
Real
Assets
·
International
Investing
Module
9 : Options and Futures
·
Options
·
Futures
Module
10 : Portfolio Management : Investment Policy
·
Investment
Policy
·
Investment
Implementation
Module
11 : Professional and Institutional
Money Management
·
Professional
Asset Management
·
Institutional
Investors
·
Performance
Evaluation
Module
12 : Investment Guidelines and Strategies of Great Masters
·
Guidelines
for Investment Management
·
Strategies
of the Great Masters
PAPER 2 :
CORPORATE VALUATION AND VALUE CREATION
Module
1 :Overview and Financial Planning
·
Financial Management : An
Overview
·
The Financial System
·
Financial Forecasting
Module
2 : Project Appraisal and Financing
·
Techniques of Capital
Budgeting
·
Project Cash Flows
·
Sources of Long Term
Financing
·
Raising Long Term Finance
Module
3 : Working Capital Manageme
·
Working Capital Policy
·
Cash Management
·
Credit Management
·
Working Capital Financing
Module
4 : DCF Approach to Corporate
Valuation
·
Overview of Corporate
Valuation
·
Enterprise DCF Model
·
The Cost of Capital
·
Other DCF Models
Module
5 : Non
DCF Approach to Corporate Valuation
·
Relative Valuation
·
Other Non-DCF Approaches
Module
6 : Additional Issues in Corporate
Valuation
·
Advanced Issues in
Corporate Valuation
·
Case Studies in Corporate
Valuation
Module
7 : Corporate objective, Performance Measurement, Strategy and
Business Model
·
Corporate Objective
·
Performance Measurement
·
Strategy and
Business Model
Module
8 : Capital Allocation and Strategic
Financing Decisions
·
Capital Allocation
·
Strategic Financing
Decisions
Module
9 : Organisational Architecture and
Cost Management
·
Organisational
Architecture
·
Cost Management
Module
10 : Risk Management and International
Finance
·
Corporate Risk Management
·
International Finance
Module
11 : Mergers, Acquisitions and Restructuring and Corporate
Governance
·
Mergers, Acquisitions and
Restructuring
·
Corporate Governance
Module
12 : Value Based Management and
Stellar Value Creators
·
Value Based Management
·
Stellar Value Creators
The
mission of the Centre for Financial Management (CFM) is to “Develop and
disseminate knowledge in finance.”
To offer distance
education programmes
To conduct executive
seminars
To catalyse professional
publications in finance.
Programme Director
Dr Prasanna Chandra
ADVISORY PANEL
Dr.Prakash
G. Apte
B.Tech
(IIT-B), PGDM (IIM-C), Ph.D (Columbia University), Former director & UTI
Chair Professor , IIM-B
B.Tech (IIT-M), PGDM (IIM-B),
Consultant
FCA,
Ph.D, Visiting Professor, IIM-B
M.Sc,
M.Ed, M.B.A, M.Phil, Grad.O.R, Ph.D, Academic Advisor
FCA
PGDM
(IIM-B), AICWA, F.A.S.I, Ph.D, Consulting Actuary