The European Academy of
Financial Directors

The Accreditation of Prior Learning Scheme is designed to provide formal assessment of understanding of practical Accountancy and Financial Management skills. Standards of Competence. The assessment is based on Standards of Competence designed by the Academy. The Standards are expressed as separate Units and are grouped for each Grade of...

Accreditation of Prior Learning (APL) is widely used in the UK University and College sectors. The Chartered Management Institute (CMI) use the technique when assessing candidates for their premier award Chartered Manager (CMg).A number of other UK Professional Bodies also include it in their assessment  models to verify candidate competence...

Working capital is a key element in business success. Successful business is about investing in the right ideas, the right equipment, and the right people. And to invest businesses need capital – either from the owners, from retained profits or from other willing to advance credit or loans. There are...

Much literature cities Japanese companies developing and using target costing; Toyota, Honda and Nissan are such examples. In the US Caterpillar and Chrysler are examples where economic benefit of the technique have been noteworthy. Traditional Pricing Full cost pricing has been the model used by many businesses in the past....

Zero Base/ Priority Base Budgeting is defined in CIMA terminology as: “A method of budgeting whereby all activities are re-evaluated each time a budget is set. Discrete levels of each activity valued and a combination chosen to match funds available.” A further definition is “an operating, planning and budgeting process...

The notion of cash flow and funds flow has been included in accounting standards for almost three decades. For example in the UK, SSPA 10 (1976), Source and Application of Funds Statement, was an early attempt by standard setters to provide a link between the balance sheet at the start...