At a glance
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Cost
If you choose to study while working with an employer they might fund the qualification for you.
- Registration fee - £206 + VAT
- Exams - £90 per exam attempt
- Learning materials - £37 per subject
- Tuition fee - Prices vary according to tuition provider and chosen study option
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Duration
12 months or less.
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Entry requirements
There are no formal academic entry requirements.
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Level of study
ICAEW CFAB is a level 4 qualification. This means it is equivalent to a foundation degree.
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Study options
There are flexible study options. These includes online tuition, classroom, self-study and more.
Overview of qualification
ICAEW CFAB can be offered as a stand-alone qualification in business, accounting and finance, or as a stepping stone to chartered accountancy.
Completion of ICAEW CFAB also counts towards ICAEW Business and Finance Professional (BFP) designation.
There are no age limits or academic requirements in place to study ICAEW CFAB. It is open to all – including school leavers, graduates, experienced professionals and career changers who wish to develop their knowledge of business, accounting and finance.
What is involved?
To complete ICAEW CFAB you will complete need to six exams. From September 2025, we will be introducing changes to our qualifications. The current CFAB exams will be available until March 2026, with new exams launching from September 2025.
Students registering before 1 July 2025 will have the opportunity to complete the current exams or, alternatively, transfer to the new exams subject to the transition rules. Students starting from 1 July 2025 onwards will have the option to sit the current exams until the new exams launch.
Learn more about the upcoming changes: Next Generation ACA
What is involved?
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Accounting
Ensures students have a sound understanding of the techniques of double entry accounting and can apply its principles in recording transactions, adjusting financial records and preparing non-complex financial statements.
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Management Information
Enables students to prepare essential financial information for the management of a business.
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Business, Technology and Finance
Provides students with an understanding of how businesses operate and how finance functions help businesses to achieve their objectives.
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Assurance
Ensures students understand the assurance process and fundamental principles of ethics, and can contribute to the assessment of internal controls and gathering of evidence on an assurance engagement.
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Principles of Taxation
Enables students to understand the general objectives of taxation and to calculate income tax, national insurance contributions, capital gains tax, corporation tax and VAT in straightforward scenarios.
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Law
Provides students with an understanding of the principles of English law.
New exams launching from September 2025
Accounting Fundamentals
Ensures that students have a sound understanding of the techniques of double entry accounting and can apply its principles in recording transactions, straightforward adjustments to financial records and preparing non-complex financial statements.
Assurance and Risk Fundamentals
Ensures that students understand the assurance process and fundamental principles of ethics, and are able to contribute to the assessment of internal controls and gathering of evidence on assurance work.
Business Insight and Performance
Enables students to prepare essential financial information for the management of a business.
Business Law
Provides students with an understanding of the principles of business law.
Sustainability and Ethics
Provides students with an understanding of the fundamentals of sustainability and ethics and how they are relevant to the work of the professional accountant.
Tax Fundamentals (launching December 2025)
Enables students to understand the general objectives of taxation and to calculate income tax, national insurance contributions, capital gains tax, inheritance tax, corporation tax, VAT and stamp taxes in straightforward scenarios.
Discover ICAEW and the ACA
ICAEW is a globally recognised membership body. We support members and student throughout their careers.
Want to go one step further?
ICAEW BFP is a professional designation which means you use use the letters BFP after your name.
Coming from a Humanities degree background, I initially found the ACA content challenging, so completing the CFAB and gaining the BFP designation was a really nice acknowledgement of the hard work and perseverance I’ve put in so far. It has also given me a huge confidence boost to know that I am on the right track!
To read more about ICAEW, the ACA and your career potential, download the brochure.
We have a number of online events that you can attend to help get you ready for your career.
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