Certified Professional Financial Accountant (CPFA)

Certification Overview

Certified Professional Financial Accountant (CPFA)

Exam Code: CPFA-001

Certified Professional Financial Accountants grants accounting professionals the Certified Financial Accountant designation. This title shows clients and employers that you are skilled, experienced and dedicated to your career, which can lead to higher positions and pay. To receive the certification, you must complete specialized education and have sufficient work experience, as well as maintain a high professional and ethical standard.

CPFA™ has been specially developed for students with little or no previous knowledge in this field . Those who wish to study accounting for a career change or to further their studies in this highly demanding field. Hence this Online Accounting Course, gives you a good starting point for your exceptional career In the accounting field.

All businesses at all levels and spanning every contemporary sector rely on efficient and flawless accountancy services in order to remain viable. Even in the instances of charitable organisations and those of a non-profit nature, the fact that it takes money to run a business necessitates the provision of solid accountancy. Exactly how a business is run in a financial sense will always have an extraordinarily significant impact on both its profitability and position within the industry. As such, those with professional-level accountancy skills and knowledge are in consistently high-demand from brands and businesses all over the world.

Exam Information

The Exam contains 50 Multiple Choice Questions and you must correctly answer 35 (35 out of 50 correct) to pass the exam.

Exams are online and proctored based, using a webcam and a reliable internet connection exams can be taken anywhere and anytime.

The total duration of the exam is 1 hour (60 Minutes).

No external sources of information may be accessed during the exam held via ProctorU. Further details of the materials permitted are provided:

  • Identification Proof

If a Candidate does not pass the exam in the first (1st) attempt, the candidate must wait for a period of at least seven (7) calendar days from the date of their attempt to retake the exam for second (2nd) time or any subsequent time. The exam can be taken any number of times.

The Certified Professional Financial Accountant (CPFA)™ Certificate is valid for life

CPFA™ is a Trademark of GAQM.


The Certified Professional Financial Accountant (CPFA)™ Certification has no pre-requisites (Completion of an E-Course is not mandatory from GAQMBok portal), but we highly recommend doing the E-Course as maximum number of questions are drawn from the E-Course in the actual exam.

Course Outline

Module 1 - Accounting - Merchandising Transactions

  • Merchandising Transactions
  • Gross Selling Price
  • Returns and Allowances
  • Cost of Goods Sold
  • Classified Income Statement

Module 2 - Measuring and Reporting Inventory

  • Merchandise Inventory
  • Determining Inventory Costs
  • Four Inventory Costing Methods
  • Pro’s and Con’s of the Four Costing Methods
  • Journal Entries for the Peretual Inventory Procedure
  • Departures from Cost Basis for Inventory Measurement

Module 3 - Accounting - Control and Monitoring of Cash Assessment

  • Control of Cash
  • Internal Contols
  • Controling Cash
  • The Bank Checking Account
  • Bank Reconcilliation
  • Petty Cash Fund

Module 4 - Accounting - Receivables and Payables

  • Accounts Receivable
  • Uncollectable Accounts
  • Write-offs and Recoveries
  • Current Liabilities
  • Notes Receivable and Note Payable
  • Short Term Financing through Notes Payable

Module 5 - Adjustments for Financial Reporting

  • Cash versus Accrual Basis Accounting
  • Classes and Types of Adjusting Entries
  • Adjustments for Deferred Items - Expenses
  • Adjustments for Deferred Items - Depreciation
  • Adjustments for Accrued Items

Module 6 - Accounting and Its Use in Business Decisions

  • The Accounting Environment
  • Accounting Defined
  • Overview of Accounting
  • Financial Statements of Business Organizations
  • The Financial Accounting Process
  • How Transactions Affect Income Statements and Balance Sheets
  • Dividends and Equity Ratios
  • Corporate versus Sole Proprietorship or Partnership Accounting

Target Audience

  • Candidates with an interest in working in an accountancy setting
  • Anyone interested in a career in finance
  • Business owners and managers who look after their own accounts
  • Existing accountancy workers in pursuit of promotion
  • Accountancy workers with no formal qualifications
  • Anyone looking to give their career prospects a boost

Registration Process for E-Course and Exam


  • Validity: 180 Days
  • Price: 170 USD
  • Please Read Carefully:

    1) Please Purchase the Second Voucher from our Voucher Store to Schedule the exam via ProctorU.

    2) One Voucher can be used by one person, one time, for one exam discount/fee only.

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Exam Registration

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