BCS Written Finance study guide
BCS Written Finance · Work through your exam, one topic at a time.
The BCS Written Examination (Finance) is a descriptive, essay-based assessment for candidates pursuing professional certification in finance through the Bangladesh Civil Service or a related professional body. It tests the ability to structure arguments, apply financial theory to real-world scenarios, and communicate recommendations clearly under time pressure. The BCS Written Finance study guide has 8 sections and about 2,130 words.
01Financial Management and Corporate Finance
Corporate finance rests on three decisions: investment (which projects to fund), financing (debt versus equity mix), and dividend policy (how much cash to return). Candidates must be fluent with the time value of money, net present value, cost of capital, the weighted average cost of capital (WACC), leverage and financial risk, working-capital management, and the trade-off between risk and return.
302 words, about 2 min02Public Financial Management and Budgeting
Public financial management (PFM) covers the full budget cycle: formulation, approval, execution, and audit and evaluation. Candidates must know the budget as a legal and policy instrument, the distinction between recurrent and development budgets, medium-term expenditure frameworks, programme and performance budgeting, and the treasury single account.
258 words, about 1 min03Accounting and Financial Reporting
Financial reporting translates transactions into statements that fairly present an entity's position and performance. Candidates must understand the accrual basis, the accounting equation (assets equal liabilities plus equity), double entry, the income statement, statement of financial position, cash flow statement, and statement of changes in equity.
272 words, about 1 min04Financial Markets, Institutions and Regulation
Financial markets channel funds from savers to borrowers. Candidates must understand money versus capital markets, primary versus secondary markets, and the roles of banks, insurance companies, pension funds, and securities exchanges.
279 words, about 1 min05Economics and Fiscal Policy
This domain links macroeconomic theory to public finance. Candidates must understand GDP, inflation, unemployment, the balance of payments, and exchange rates, plus fiscal policy instruments: taxation, government spending, and borrowing.
254 words, about 1 min06Audit, Internal Control and Risk Management
Audit provides independent assurance that financial statements are free from material misstatement. Candidates must understand the audit risk model (inherent, control, and detection risk), materiality, audit evidence, and the auditor's opinion types: unmodified, qualified, adverse, and disclaimer.
266 words, about 1 min07Project Appraisal and Investment Analysis
Project appraisal assesses whether an investment is worthwhile before funds are committed. Candidates must understand cash-flow forecasting, discounting, NPV, IRR, payback, discounted payback, and the profitability index.
263 words, about 1 min08ICT Applications in Finance and Governance
ICT underpins modern financial management and public administration. Candidates must understand core banking and treasury systems, integrated financial management information systems (IFMIS), electronic payments and mobile money, and e-government service delivery.
236 words, about 1 min