CERTIFIED FINANCIAL MANAGER A course for every Professional

In the current trende more people are losing jobs are there is a threat for job loss. I had seen a very intresting course, which will be helpful for the working professionals.

Programme Coverage
Curriculum Under Second Regulation (Effective from XIV batch onwards )
The programme is divided into two groups covering four papers as follows:

GROUP A
Paper1 : VALUATION CONCEPTS AND INVESTMENT ANALYSIS
Investment Setting
Basic Concepts and Method
Portfolio Theory and Capital Asset Pricing
Investor Behaviour
Fixed Income Securities and Alternative Investment Options
Equity Shares
Paper 2 : PORTFOLIO MANAGEMENT AND PROJECT APPRAISAL
Section A : PORTFOLIO MANAGEMENT
Derivatives
Portfolio Management
Section B : APPRAISAL
Overview of Financial Management and Projects
Project Planning and Financial Estimates
Project Selection : Basic Techniques
Project Selection : Advanced Techniques
GROUP B
Paper 3 : TREASURY AND FOREX MANAGEMENT
Long Term Financing
Working Capital Management
Foundations of International Financial Management
Currency Derivatives and Exposure Management
Financial Management of the Multinational Firm
Interest Rate Risk Management

Paper 4 : CORPORATE VALUATION AND VALUE CREATION
Corporate Valuation : DCF Approach
Corporate Valuation : Non DCF Approaches and Special Situations
Strategic Financing Decisions
Mergers, Acquisitions, and Restructuring
Organisational Architecture and Corporate Governance
Special Topics

Format and Duration
This is a Distance Learning Programme of one-year duration. It starts on February 1 ,2009 to January 31, 2010 . Group A will be covered from February 1 ,2009 to July 31 ,2009 and Group B will be covered from August 1, 2009 to January 31,2010
Candidates will be provided excellent reading material consisting of textbooks and study guides to facilitate self learning. In addition, they will have the benefit of seeking clarification of their doubts on the Internet.
Focus on Basics
The CFM Programme focuses on the basic concepts, principles, and techniques of finance which have been applied with a reasonable degree of success in the real world. It is not meant to explore advanced theories and techniques which are covered in highly specialised or advanced programmes. If you are interested in advanced studies you are advised to go for an intensive graduate or doctoral programme at leading institutions in India or abroad.
For Whom
The CFM 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 CFM 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.
Students in the 4th year of engineering/technology programme.
. Commerce Graduates with Second division.

Discount for Students of Professional Programmes
Students pursuing post -graduate programmes in management and commerce (MBA, PGDM, PGDBM, M.COm, & so on) and other professional programmes (CA,CWA,CS, and so on ) will get a discount of Rs.500 . Similarly faculty members in Business schools will get a discount of Rs.500
Top of page
Rules and Regulations Relating to Examinations and Qualifications
1. Your enrollment is valid for two years.
2. The minimum time allowed to complete the programme is 1 year. The maximum time allowed to complete the programme is 2 years.
3. The examination for all the four papers will be held twice a year in the months of January and July. The schedule of examinations will normally be as follows:
Day Paper
Last but one Saturday 1. VALUATION CONCEPTS AND INVESTMENT ANALYSIS
Last but one Sunday 2. PORTFOLIO MANAGEMENT AND PROJECT APPRAISAL
Last Saturday 3. Treasury and Forex Management
Last Sunday 4. CORPORATE VALUATION AND VALUE CREATION
4. You can register for one or more papers in any sequence in any set of examination subject to the following constraints :(a) In the first set of examinations you cannot register for more than two papers (b) You can register for a maximum of eight times for all the four papers put together during the two year period
5. You will have the facility of making 4 registrations online. Use one online form for one paper.

6. Online registration has to be done between December 1 and January 5 for the January
Examination, and between June 1 and July 5 for the July Examinations. For students
writing exams at Dubai, registration for exams is to be done by June 15 for
July examinations and by December 15 for January examinations
7. After you have exhausted the online registration facility you can buy one or more additional Examination Registration Forms (These will be issued in Physical Form). However, you can buy a maximum of four additional Examination Registration Forms during the entire two year period. This restriction is in line with 4 (b) above. The cost per additional Examination Registration Form is Rs.750. The payment has to be made by a DD / Cheque (payable at par) to the Centre for Financial Management, Bangalore. If Debit / Credit card payment is made the cost per additional Examination Registration Form is Rs.770 .Kindly send the digital receipt of the CC payment, mentioning your Roll number and Email id to info@cfm-india.com
8. A candidate would be deemed to have passed the entire programme if he/she secures at least 45% marks in each paper and an average of at least 55% in all the four papers put together. Those who pass the entire programme will be awarded the qualification CERTIFIED FINANCIAL MANAGER issued by the CENTRE FOR FINANCIAL MANAGEMENT. The certificate will be sent to them by post.
9. From the list of candidates who qualify as Certified Financial Manager, the top three performers will receive a rank certificate, stating their rank (based on the aggregate percentage score). Candidates who avail of a second attempt for one or more papers will not be eligible for the rank certificate.
10 If you write the examination of a paper more than once, the highest marks secured by you in all the attempts will be considered.
11. Barring unforeseen delays, the results of January examinations will be posted on our website by March 15 and the results of the July examination will be posted on our website by September 15.
12. Examination results will be posted on our website in about 45 days after the examinations. Candidates will not receive individual communication.
13. Examinations will be held in the following cities: Bangalore, Chennai, Delhi, Kolkata, Hyderabad Mumbai and Dubai.. The venue of the examination centres will be posted on our website one month before the examination.
14. If you cannot complete the course in the stipulated period you may apply for re-enrollment. If your application is considered favourably by CFM, you will be given permission to do so provided you pay a small re-enrollment fee which will be intimated to you on acceptance of your re-enrollment .

Re-Enrollment
We are accepting re-enrollment applications to the February 2009 - January 2010 batch under the old regulation . The re-enrollment fees is Rs.4000. For conditions applicable for re-enrollment please refer to item 14 of Rules and Regulations Relating to Examination and Qualifications
(Click here for the re-enrollment application form)


Admission ,Fees and Refund
If you want to enroll for the Fourteenth batch send the completed application form along with the fees. The application form is given at the end of this prospectus. You can download it.

Modes of payment :
DD/Cheque(payable at par ) in favour of CENTRE FOR FINANCIAL MANAGEMENT
Visa Debit Cards : ICICI Bank, SBI, HDFC, Axis, Corp Bank ,IOB, and Karur Vysya Bank
Visa/ Master Credit Cards : All Major Banks
(After you complete the Debit/ Credit card transaction enclose the copy of the digital receipt along with the application form)
Fees
If you apply from
Fees
Fees Payable through Credit card
December 1, 2008 to December 31, 2008
Rs.10,500
Rs.10,750
January 1 , 2009 to January 31 ,2009
Rs.11,000
Rs.11,250
The fees is all-inclusive. It covers admission, courseware, querying facility, web-learning support examinations (the facility of making 4 online registrations), and certification.
Fees for Overseas Students :
If you apply from
Fees ( Dubai / Nepal Based Students)
Fees (African Based Students)
December 1 2008 to December 31,2008
INR.13,500
INR.21500
January 1, 2009 to January 31 ,2009
INR .14,000
INR.22000

Note : The above fees is inclusive of surcharge of Speed post for overseas candidates. It covers admission, courseware, querying facility, web-learning support and certification


Additional Examination Fees : The examination fees will be INR 2000 per paper. CFM will conduct the exams at Cosmos Educational Institute , Dubai for Middle East and African based Students .

Installment Facility
You can pay the fees in two equal monthly installments , if you like . However, if you avail the installment scheme you have to pay Rs.200 more.
50 percent of the amount payable (fees applicable to the month plus Rs.200) must be paid along with the application. The balance 50 percent must be paid by a post dated cheque (dated one month later).
If you avail of the installment facility, your enrollment will be confirmed on receipt of your application but the courseware will be despatched after realising the post dated cheque.



On receipt of your application CFM will inform you via email. If you are granted admission to the Fourteenth batch, you will get the courseware within two weeks of receiving your application. Otherwise your draft will be returned. Thus, if you enroll early, you pay less and, more important, you can commence your studies in advance. Your Hall Ticket , USER ID and Password, however will be sent in the second week week of February 2009
You can withdraw from the CFM Programme, if you don't feel upto it, before February 28, 2009 and get a refund of Rs.3500, no questions asked. To withdraw send a letter along with the Identity Card.

Top of page
Querying Facility on the Internet
Along with the Hall Ticket you will be given a User Id and a password to enable you to avail of the Querying Facility on the Internet.
The thrust of the CFM Programme is on imparting a basic understanding of the concepts, principles, and techniques of modern finance. The examinations will also test that. Hence the querying facility is meant to clarify any doubt that you may have about concepts, principles, and techniques covered in the study material.
The querying facility is not meant to address the problems faced by a particular organisation or comment on a specific financial situation or development. CFM will answer only those queries which are relevant for the examinations. CFM will try and answer as many queries as possible. However, if a candidate asks too many questions,CFM will selectively answer a few.
Queries received from Monday to Friday will be replied by Sunday . The replies will be posted on our website.
Placement Assistance
A condensed CV of all qualified CERTIFIED FINANCIAL MANAGERS will be posted on the website of the CENTRE FOR FINANCIAL MANAGEMENT for a period of 1 year after they qualify as CFMs. This will help potential employers in contacting CFMs directly.

Disciplined Self Study
CFM is a fairly rigorous and intensive self-study programme. You are expected to regularly study as per the study plan. You may have to put in 4 to 6 hours a week or even more.


Top of page CURRICULUM UNDER SECOND REGULATION WHICH IS EFFECTIVE FOR 14TH BATCH ONWARDS
GROUP A
Paper 1
VALUATION CONCEPTS AND INVESTMENT ANALYSIS
Module 1 : INVESTMENT SETTING
l Overview
l Investment Alternatives
l Securities Market
l Tax Aspects of Investment
Module 2 : BASIC CONCEPTS AND METHODS
l Financial Statement Analysis
l Accounting Standards
l Risk and Return
l The Time Value of Money
Module 3 : PORTFOLIO THEORY AND CAPITAL ASSET PRICING
l Portfolio Theory
l Capital Asset Pricing Model and Arbitrage Pricing Theory
l Efficient Market Hypothesis
Module 4 : INVESTOR BEHAVIOUR
l Behavioural Finance
l Neuroeconomics

Module 5 : FIXED INCOME SECURITIES AND ALTERNATIVE INVESTMENT OPTIONS
l Bond Prices and Yields
l Bond Portfolio Management
l Mutual Funds
l Investment in Real Assets

Module 6 : EQUITY SHARES
l Equity Valuation
l Macroeconomic and Industy Analysis
l Fundamental Analysis
l Technical Analysis


Paper 2
PORTFOLIO MANAGEMENT AND PROJECT APPRAISAL

SECTION : A

Module 1 : DERIVATIVES
l Options
l Futures

Module 2 : PORTFOLIO MANAGEMENT
l Portfolio Management Framework
l Guidenlines for Investment Decisions
l Strategies of the Great Masters
l International Investing

SECTION : B

Module 3 : OVERVIEW OF FINANCIAL MANAGEMENT AND PROJECTS

l Overview of Financial Management
l Overview of Projects
l The Financial System


Module 4 : PROJECT PLANNING AND FINANCIAL ESTIMATES

l Strategy and Capital Allocation
l Generation and Screening of Project Ideas
l Financial Estimates and Projections
l Assessing the Tax Burden

Module 5 : PROJECT SELECTION : BASIC TECHNIQUES

l Investment Criteria
l Project Cash Flows
l Cost of Capital
l Project Risk Analysis
Module 6 : PROJECT SELECTION : ADVANCED TECHNIQUES
l Project Rate of Return
l Special Decision Situations
l Valuation of Real Options
l Qualitative Considerations
l Project Review




GROUP B

Paper 3
TREASURY AND FOREX MANAGEMENT
Module1: LONG TERM FINANCING
l Sources of Long Term Finance
l Raising Long Term Finance
l Investment Banking
l Leasing , Hire Purchase and Project Finance
l Hybrid Financing

Module 2 : WORKING CAPITAL MANAGEMENT
l Working Capital Policy
l Cash and Liquidity Management
l Credit Management
l Working Capital Financing

Module 3 : FOUNDATIONS OF INTERNATIONAL FINANCIAL MANAGEMENT
l Global Financial Environment
l What Moves Exchange Rates
l The Foreign Exchange Market
Module 4 : CURRENCY DERIVATIVES AND EXPOSURE MANAGEMENT
l Currency Futures
l Currency Options
l Understanding Financial Risk
l Management of Currency Exposure

Module 5 : FINANCIAL MANAGEMENT OF THE MULTINATIONAL FIRM
l Short-term Financial Management in a Multinational Firm
l International Financing
l International Project Appraisal

Module 6 : INTEREST RATE RISK MANAGEMENT
l Currency and Interest Rate Swaps
l Forward Rate Agreements
l Interest Rate Futures
l Interest Rate Options


Paper 4
CORPORATE VALUATION AND VALUE CREATION
Module 1 : CORPORATE VALUATION : DCF APPROACH
l Entreprise DCF Model
l Free Cash Flow to Equity Model
l APV Model
l Economic Profit Model

Module 2 : CORPORATE VALUATION : NON- DCF APPROACHES AND SPECIAL SITUATIONS
l Adjusted Book Value Approach
l Stock and Debt Approach
l Relative Valuation Approach
l Special Situations

Module 3 : STRATEGIC FINANCING DECISIONS
l Financial Planning and Forecasting
l Capital Structure Decision
l Dividend and Share Buyback Decisions
l Debt Management


Module 4 : MERGERS, ACQUISITIONS, AND RESTRUCTURING
l Mergers l Purchase of Division
l Takeovers l Business Alliances
l Divestitures
l Other Forms of Restructuring

Module 5 :ORGANISATIONAL ARCHITECTURE AND CORPORATE GOVERNANCE
l Organisational Architecture
l Value BAsed Management
l Corporate Governance and Executive Compensation
l Performance Measurement and Balanced Scorecard

Module 6 : SPECIAL TOPICS
l Financial Management in Companies with Special Characteristics ( Sick Companies, Public Sector Companies, Knowledge -Intensive Companies)
l Strategic Cost Management
l Corporate Risk Management
l Financial Innovations and Financial Engineering
l The State of Our Knowledge

for more information visit http://www.cfm-india.com/

Source: www.cfm-india.com