DIPLOMA IN FINANCE (Batch 15)
Finance for Non-Finance Executives

Background
Almost everything in business eventually boils down to the rupee sign. Hence, irrespective of what your primary area of work is, you need a basic grounding in finance and accounting.

Often, non-finance executives have an aversion or even fear of finance and accounting. This stems mainly from lack of familiarity. Years of interaction with non-finance executives has convinced me that if the basics of finance and accounting are explained in a simple and lucid manner, negative feelings turn positive appreciation. This programme seeks to achieve this transformation.

Objectives
Designed to demystify the field of finance this programme seeks to:

• Impart a sound understanding of financial and accounting reports used in business.
• Develop skills in applying financial tools and techniques.
• Sharpen the finance sense of non-finance executives.

Programme Coverage
The programme will have a composite paper divided into two parts.

Part A : ACCOUNTING AND CONTROL

• Understanding Financial Statements
• Financial Statement Analysis
• Accounting Mechanics
• Forecasting Financial Statements
• Cost Methods and Systems
• Managerial Decision Making
• Budgeting
• Strategy and Planning
• Strategic Cost Management
• Business Performance Measurement
• Accounting Standards
• Taxation

Part B : FINANCIAL MANAGEMENT

• Overview
• The Financial System
• Valuation Concepts
• Capital Budgeting
• Business Financing
• Working Capital Management
• Mergers, Acquisitions and Restructuring
• International Finance
• Value Based Management
• Securities Market
• Investment Management
• Financial Services

Format and Duration
The programme is a Distance Learning Programme of six months duration. Candidates will be provided with excellent reading material, and a detailed study plan to facilitate self-learning. In addition, they will have the benefit of asking questions on the Internet.

For Whom

The programme is meant for non-finance executives in various areas (like production, marketing, purchase, R&D, human resources, and IT), entrepreneurs, and software professionals . In addition, it will benefit MBA students who are not majoring in Finance

Course fees

The fees is Rs.3000 . It covers  admission, courseware, querying facility, web-learning support ,and service tax . It is payable at the time of admission. 

Exam fees 

 The fees for the composite paper is  Rs.3000.  This is payable  a month before the exam . 

Course fees for Overseas students from Dubai and Nepal 

.Fees for students from Dubai and Nepal will be INR 5000. It covers  admission, courseware, querying facility, web-learning support ,and service tax . It is payable at the time of admission. 

Exam fees for Overseas Students

 Students writing the exam at Dubai and Nepal will have to pay INR 7000 for the paper  . This is payable  a  month before the exam

Enrollment

You can enroll for the Diploma in Finance Programme (Batch 15) from  November 25, 2011 onwards. The first set of examinations under New Regulations will be held on July  29, 2012. Your enrollment will be valid till January 31 , 2013. For online enrollment in the programme, please, visit our website : www.cfm-india.com. Online enrollment will begin from November 25, 2011.

Courseware

On enrollment to the programme, the complete courseware will be dispatched to you within two weeks of receiving your application.

Examination and Qualification

Examination  for the composite paper  will be held twice a year in the months of January and July. The maximum time allowed to complete the programme is one year. Those who pass the programme will be awarded qualification DIPLOMA IN FINANCE (Finance for Non-Finance Executives) 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.

Rules and Regulations relating to Examinations and Qualifications

Enrollment

You can enroll round the year. Whenever you enroll, you will get the opportunity of writing two sets of consecutive examinations. Put differently, your enrollment will be valid for two consecutive examinations, 

Examination

The examination for the composite paper  will be held twice a year in the months of January and July. Normally, it will be on the last Sunday of the month.

The examination fees  is  Rs.3000 . This is payable between  December 1 and January 5 for the January examination, and between June 1 and July 5 for the July examination.

On payment of examination fees, your hall ticket will be generated. 

Examination will be held in the following cities: Bangalore, Chennai, Delhi, Kolkata, Hyderabad, Mumbai and Dubai. The venue of the examination  will be posted on our website one month before the examination.

Barring unforeseen delays, the results of January examination  will be posted on our website by March 15 and results of July examination will be posted on our website by September 15. Candidates will not receive individual communication.

There is no provision to show the answer scripts to the candidate.

Qualification

• If you secure 55% in the composite paper, you will be given the qualification DIPLOMA IN FINANCE issued by the CENTRE FOR FINANCIAL MANAGEMENT. The certificate will be sent to you by post.

• If you write the examination of the paper more than once, the highest marks secured by you in both the attempts will be considered.
  

Re-enrollment

• If you cannot complete the course in the initial enrollment period , you may send a request (through e-mail) seeking re-enrollment for a further period of 6 months. The request must clearly state why you could not complete the programme during the initial enrollment period and why you are seeking re-enrollment. This request must be made within a period of 2 months after the expiry of your initial enrollment period.

• The CENTRE FOR FINANCIAL MANAGEMENT will communicate its acceptance or rejection of your re-enrollment request within a week (through e-mail or post).

• If your application for re-enrollment is accepted by the Centre for Financial Management, you have to pay a re-enrollment fees of Rs.1500  within a week of receiving the communication of acceptance from the Centre for Financial Management.   The  exam fees during the re-enrollment period will also be Rs.3000 for the paper payable online a month before the exam.  Your re-enrollment will be valid for one  set  of examinations.

•  If you are re-enrolled, the highest marks secured by you in all the attempts, including the ones made by you during the initial enrollment period, will be considered.
  

Further Details

For further details relating to examinations, examination schedule, examination centres, internet querying facility, provision for refund, and so on will be loaded on the website shortly .

Curriculum

The composite paper comprises of two parts (a) accounting and control and (b) financial management. The detailed curriculum is as follows.

Part A : ACCOUNTING AND CONTROL

Understanding Financial Statements: Overview of Business activities - Basic Concepts Underlying Financial Accounting - Balance Sheet - Profit and Loss Account - Statement of Cash Flows - Other Items in Annual Report - Manipulation of the Bottom Line.

Financial Statement Analysis: Financial Ratios (Liquidity, Leverage, Turnover, Profitability, and Valuation Ratios) - Comparative Analysis - Problems in Financial Statement Analysis - Guidelines for Financial Statement Analysis.

Accounting Mechanics: Accounting Model - The Device of Account - System of Debits and Credits - Journal – Ledger - Trial Balance - Adjustment Entries - Financial Statements.

Forecasting Financial Statements: Strategic Plan - Components of a Financial Plan - Sales Forecast - Proforma Profit and Loss Account - Proforma Balance Sheet - Computerised Financial Planning System - Additional Funds Needed - Sustainable Growth Rate.

Cost Methods and Systems: Cost Concepts and Classifications - Costing Process -Costing Systems - Standard Costing - Activity Based Costing.

Managerial Decision Making: Cost Behaviour - Cost Volume Profit Analysis - Steps in Decision Making - Principle of Differential Analysis - Analysis for Decision Making.

Budgeting: Framework for Budgeting - Master Budget - Flexible Budgeting - Variance Analysis - Human Aspects of Budgeting - Budgeting in India - Do's and Don'ts of Budgeting - Becoming Budget Savvy.

Strategy and Planning: Concept of Strategy - Corporate Level Strategy - Business Unit Strategies - Strategic Innovation - Purpose of a Business Plan - Contents of a Business Plan - Process of Preparing a Business Plan - Dos and Donts of a Business Plan.

Strategy Cost Management: Strategic Cost Management-Guidelines for Total Cost Management-Cost Management in Practice.

Business Performance Measurement: Performance Measures-Balanced Scorecard-Divisional Performance Measurement-Designing an Effective Performance Measurement System-Performance Measurement: Some Examples.

Accounting Standards: International Financial Reporting Standards (IFRS)-Indian GAAP-Key Trends In Accounting Standards-Illustrations of Significant Accounting Policies.

Taxation : Statutory Audits-Internal Audits -Framework for Taxation.

Part B : FINANCIAL MANAGEMENT

Overview: Financial Decisions in a Firm - Goal of Financial Management - The Fundamental Principle of Finance - Risk-Return Tradeoff - Forms of Business Organisation - Agency Problem - Organisation of the Finance Function - Relationship of Finance to Economics and Accounting.

The Financial System: Functions of the Financial System - Financial Assets - Financial Markets - Financial Market Returns - Financial Intermediaries - Regulatory Infrastructure.

Valuation Concepts: Future Value of a Single Amount - Future Value of an Annuity - Present Value of a Single Amount - Present Value of an Annuity - Bond Valuation - Equity Valuation - Risk and Return of a Single Asset - Risk and Return of a Portfolio - Measurement of Market Risk - Relationship between Risk and Return.

Capital Budgeting: Capital Budgeting Process - Key Steps in Project Appraisal - Costs and Benefits - Investment Criteria - Analysis of Risk - Cost of Capital - Value of Options - Overall Corporate Considerations-Project Appraisal by Financial Institutions.

Business Financing: Capital Structure - Financing Instruments - Methods of Raising Finance - Markets - Pricing and Timing - Distribution Policy - Investor Communication - Corporate Governance - Sources of Capital (Equity Capital, Preference Capital, Internal Accruals, Term Loans, Debentures, Working Capital Advances, Miscellaneous Sources).

Working Capital Management: Characteristics of Current Assets - Factors Influencing Working Capital Requirements - Working Capital Policy - Operating Cycle and Cash Cycle - Cash Requirement for Working Capital - Cash Management - Credit Management - Inventory Management - Management of Payables and Accruals - Ten Commandments of Working Capital Management.

Mergers, Acquisitions and Restructuring: Mergers - Purchase of a Division/Plant- Takeovers - Managing an Acquisition - Business Alliances - Portfolio Restructuring - Financial Restructuring - Organisational Restructuring - Rehabilitation Schemes - Privatisation - Dynamics of Restructuring.

International Finance: World Monetary System - Foreign Exchange Market - Raising Foreign Currency Finance - International Capital Budgeting - Financing and Insuring Exports - Documents in International Trade - Foreign Exchange Exposure - Management of Foreign Exchange Exposure.

Value Based Management: Methods and Key Premises of Value Based Management (VBM) - Measure of Value Creation: Market Value Added - Drivers of Value Creation - Economic Value Added - Experience of VBM Adopters - Potential and Hurdles for VBM in India.

Securities Market: Primary Equity Market - Secondary Equity Market - Government Securities Market - Corporate Debt Market - Money Market - Options Markets - Futures Market.

Investment Management: Investment Alternatives - Investment Attributes - How Do Various Investment Compare - Basic Guidelines for Investing: The Ten Commandments.

Financial Services: Commercial Banks - Insurance - Mutual Funds - Venture Capital - Leasing and Hire Purchase – Factoring - Investment Banking - Credit Rating - Securitisation.

Programme Director

Dr Prasanna Chandra