IAI CAFB - Certificate in Accounting, Finance and Business study guide
IAI CAFB - Certificate in Accounting, Finance and Business · Work through your exam, one topic at a time.
The IAI CAFB - Certificate in Accounting, Finance and Business - is an entry-level professional certificate awarded by the Institute of Artificial Intelligence (IAI) that tests whether a candidate can read financial statements, cost a product or service, reason about capital and value, and operate inside a legal, economic and ethical business frame. It suits early-career accountants, finance analysts, business graduates, operations and IT staff moving into finance-adjacent roles, and anyone who needs a working command of accounting and finance vocabulary rather than specialist depth. The IAI CAFB - Certificate in Accounting, Finance and Business study guide has 8 sections and about 2,313 words.
01Financial Accounting and Reporting
Financial Accounting and Reporting examines whether you can apply the IASB Conceptual Framework and IFRS recognition and measurement rules to prepare and interpret financial statements. Expect double-entry corrections, adjusting journals, single-entity statements and basic consolidation principles.
317 words, about 2 min02Management Accounting and Cost Accounting
Management Accounting and Cost Accounting tests how costs behave, how they are absorbed into products, and how managers use cost data for planning, control and decisions. Classification: direct vs indirect; fixed, variable and semi-variable (split using high-low); product vs period costs.
309 words, about 2 min03Corporate Finance and Financial Management
Corporate Finance and Financial Management covers investment appraisal, the cost of capital, financing choices and working capital, and expects numerical judgement alongside an understanding of risk. NPV discounts incremental after-tax cash flows at the WACC; accept if NPV 0.
291 words, about 1 min04Business Law and Corporate Governance
Business Law and Corporate Governance tests contract and company-law fundamentals and the governance structures that hold directors to account. Contract formation: offer, acceptance (unqualified and communicated), consideration (sufficient, not necessarily adequate), intention to create legal relations, capacity.
290 words, about 1 min05Economics for Business
Economics for Business tests how markets set prices and quantities, how firms behave under different market structures, and how macroeconomic policy and exchange rates affect business decisions. Demand and supply: a price change moves along the curve; a change in income, tastes, substitute prices or costs shifts the curve.
276 words, about 1 min06Business Management and Strategy
Business Management and Strategy tests how organisations set direction, analyse their environment and choose growth options, plus the structural and human side of implementation. Analysis tools: PESTLE for the macro environment; Porter's five forces (rivalry, new entrants, substitutes, buyer power, supplier power) for industry attractiveness; the value chain for where cost or differentiation advantage is created.
266 words, about 1 min07Business Ethics and Professional Conduct
Business Ethics and Professional Conduct tests whether you can recognise an ethical issue, reason with a framework, and respond as a professional accountant should. Frameworks: utilitarian reasoning judges by consequences; deontological reasoning judges by duties and rules; virtue ethics asks what a person of good character would do.
267 words, about 1 min08Information Technology and Data Analytics in Business
Information Technology and Data Analytics in Business tests controls over IT systems, the quality of data used for decisions, and the analytical techniques accountants now apply. IT general controls cover the environment: access management, change control, backups, disaster recovery and network security.
297 words, about 1 min