CERTIFICATE IN TREASURY FUNDAMENTALS

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The Certificate in Treasury Fundamentals (CertTF) is the perfect first step into the exciting world of treasury, corporate finance and financial markets, equipping you with knowledge and tactical ‘hands-on’ skills.

1. IS THE CERTIFICATE IN TREASURY FUNDAMENTALS RIGHT FOR YOU?

Do you want to understand risk management, cash and liquidity, and the technical skills that help to safeguard an organisation’s financial stability? 

This qualification is the perfect step if you are:

  • considering a career in treasury or corporate finance
  • in the early stages of your career and need to know about treasury
  • in a role that works closely with treasury
  • moving to a treasury role
1.1 COURSE STRUCTURE

LEARNING

Three online units

3-6 months study time 

(150 study hours)

ASSESSMENT

One online exam

1.5 hour multiple choice exam

MEMBERSHIP

You are a Student member of the ACT while you study and once qualified, you are eligible to become an eAffiliate member.

1.2 COURSE CONTENT

The Certificate in Treasury Fundamentals is made up of the three units below. For full ACT accreditation you will need to complete all three units and sit the assessment.

Unit 1: Introduction to the financial world

This unit provides a general introduction to treasury and a number of key influences that impact treasury decisions. It starts by focusing on the environment in which treasury professionals work. It specifically considers key drivers including accounting (and relevant calculations), tax and regulation, all of which play a crucial role in treasury decisions and activities.

The unit then moves on to consider the importance of governance, ethics, compliance and other forms of controls that are typically encountered by treasury professionals. The role and importance of the ACT’s own Ethical Code are examined as this sets the minimum standard expected from all ACT members. The unit considers the key issue of conflicts of interest and how these should be dealt with when they arise.

Finally, the unit addresses risk management, which is one of the most important areas of responsibility for treasury professionals. The unit provides a clear introduction to the general principles of risk management (including identifying, assessing, calculating and managing treasury risks). The unit also examines the importance of risk reporting, both within treasury and the organisation as a whole.

 

On completing unit one you will be able to:

  1. describe the environment in which a treasury professional works, including knowledge of relevant accounting, tax and regulations
  2. explain the fundamental importance of governance, ethics, compliance and audit to the treasury function and the organisation as a whole
  3. describe key treasury risks and the tools used to identify, assess, manage, mitigate and report on them.

Unit 2: Principles of treasury operations

 

This unit focuses on the practicalities of treasury operations within the organisation. It starts by considering the role of treasury within an organisation and the relevance of treasury systems. It also addresses the key relationships that treasury professionals are most likely to encounter, both internally and externally. For example, the unit explores the importance of bank relationship management and the role of credit rating agencies. 

The unit moves on to explore how treasury functions can be structured. This includes consideration of the typical day-to-day activities that are likely to be undertaken within the treasury function. It also considers the importance of treasury policy and the impact of this on processes and controls to facilitate effective treasury operation within the organisation. 

The unit concludes with an examination of cash management. For many organisations the effective management of cash and short-term liquidity needs are key to business survival. So it is vital that treasury professionals understand this important area. The unit considers the daily cash management cycle and provides an introduction to cashflow forecasting. It also discusses the importance of bank account structures. Finally, it provides an introduction to interest rates and their calculations.

On completing unit two you will be able to:

  1. explain the role of treasury and the importance of managing internal and external relationships
  2. describe how a treasury function is structured and the processes and controls needed to enable its effective operation 
  3. describe how the organisation’s cash and short-term liquidity requirements are managed.

Unit 3: Overview of financial markets and corporate finance

This third and final unit focuses on the relevance of financial markets to treasury professionals and on general corporate finance principles and concepts and examines the main financial markets that might be encountered by a treasury professional. 

It starts by addressing the role of financial markets as a source of finance, including a discussion of capital markets and the use of banks as providers of debt. 

It then focuses on the use of financial markets for some more specific treasury transactions. Firstly, providing an introduction to the key elements of these transactions and then moving onto specific areas. These include the use of financial markets for managing investments, foreign exchange transactions, interest rate risk and relevant calculations.

Finally, the unit moves onto corporate finance.  It introduces the main concepts and principles in relation to corporate finance theory and the relationship with funding for various purposes. In particular, the unit focuses on the principles of risk and return, which play a vital role in treasury decisions. It also considers capital structures and how to raise finance in the most effective way, including relevant calculations.  It concludes by introducing general principles relating to project appraisal techniques (including relevant calculations)  and considerations.

On completing unit three you will be able to:

  1. explain the main financial markets and products used by treasury to secure funding
  2. explain the key fundamentals and market conventions when undertaking money market, foreign currency and interest rate transactions
  3. describe core corporate finance theories and relate these to practical funding and project appraisal situations.

 

1.3 ENTRY REQUIREMENTS AND EXEMPTIONS

There are no entry requirements for this certificate.

Our qualifications pathway is designed to support you at every level of your career. There are however a number of ways for you to get recognition for what you have already learnt and achieved through your previous studies of either professional qualifications or at university. This may result in exemption from the whole qualification.

Qualified accountant

If you are ACCA, CIMA, ICAEW qualified or qualified with an IFAC recognised body, you are exempt from the Certificate in Treasury Fundamentals.

We recommend that you begin your studies with the Certificate in Treasury. You may also be exempt from certain units of the Certificate in Treasury. Take a look at the accountancy exemptions information to see which exemptions apply to you.

If these exemptions apply to you, you can automatically start the Certificate in Treasury.

 

Prior work experience

If you have three years’ experience of working in a treasury role or working with treasury in either a financial institution or a treasury consultancy, then you may be exempt from the Certificate in Treasury Fundamentals.

We recommend that you do take the Certificate in Treasury Fundamentals to get a full grounding in the treasury context, however you can begin your studies with the Certificate in Treasury if you prefer to do so. When booking for the Certificate in Treasury, you will need to complete and upload a work experience declaration form.

If you are unsure that your work experience is sufficient to begin with the Certificate in Treasury, then take a look at the operational level of the ACT Competency Framework. If you recognise these competencies in your personal work, then the Certificate in Treasury will be a suitable starting point for your studies.

If the prior work experience exemption applies to you, you can automatically start the Certificate in Treasury.

 

Previous degree

If you have any of the following qualifications, you are exempt from the Certificate in Treasury Fundamentals:

(A) Recognised degree in Accounting or a joint honours degree if achieved within the last 10 years

You are eligible for exemption from the Certificate in Treasury Fundamentals if you have a recognised degree in Accounting or a joint honours degree combining two of the following subjects and if this has been achieved within the last 10 years:

  • accounting
  • finance
  • economics
  • banking
  • business studies.

Your degree will need to be from:

  • a UK higher education institute or
  • any other institute that is recognised by the UK ENIC as being at an equivalent academic level.

You will need to upload your qualification certificate, or Statement of Comparability if you have gone through NARIC, when booking.

(B) MBA

You are eligible for exemption from the Certificate in Treasury Fundamentals if your MBA is from an accredited institution:

  • AACSB
  • AMBA
  • EQUIS.

You will need to provide a copy of your qualification certificate.

(C) Recognised degree in any other graduate discipline

If you have a recognised degree in any graduate discipline and you have twelve months' experience of working in a treasury role or working with treasury in either a financial institution or a treasury consultancy, then you are eligible for exemption from the Certificate in Treasury Fundamentals. 

We recommend that you do take the Certificate in Treasury Fundamentals to get a full grounding in the treasury context, however you can begin your studies with the Certificate in Treasury if you prefer to do so. When applying, you will need to complete a ‘work experience declaration form’.

If you are unsure that your work experience is sufficient to begin with the Certificate in Treasury, then take a look at the operational level of the ACT Competency Framework. If you recognise these competencies in your personal work, then the Certificate in Treasury will be a suitable starting point for your studies.

You will need to provide a copy of your qualification certificate and a completed work experience declaration form when booking on the Certificate in Treasury.

If the previous degree exemption applies to you, you can automatically start the Certificate in Treasury.

 

I have qualified with an ACT Accredited University

If you are studying or have studied with one of our accredited universities, you may be exempt from the Certificate in Treasury Fundamentals and certain units of the Certificate in Treasury. Select your university below for more detailed information on how to apply based on your qualification.

Birmingham Business School

  • MSc Financial Management

Fachhochschule Wiener Neustadt GmbH (University of Applied Sciences Wiener Neustadt) 

  • Masters in Treasury and Investment Programme 

Kingston Business School 

  • BSc Accounting and Finance 
  • MSc Finance
  • MSc Accounting & Finance 
  • MSc Financial Business Management
  • MSc Banking & Finance
  • MSc Investment and Financial Risk Management

Macquarie University

  • Masters of Applied Finance 

Sheffield Business School

  • BA International Finance and Banking 
  • MSc Banking and Finance 

1.4 BURSARIES

The ACT Educational Trust is a charity that promotes the treasury profession through education and support. The Trust offers bursaries to assist students from developing countries who are unable to fund or gain sponsorship for their studies, to study for an ACT qualification. If you are a national and resident of one of the countries listed here, and are unable to gain sponsorship for your studies from your employer, you can apply for a bursary for the Certificate in Treasury Fundamentals. The bursary covers the Certificate in Treasury Fundamentals course fee, student membership fee and assessment fee.

Find out more

2.1 FREE SAMPLE MATERIAL & PODCAST CLIP

Would you like a free sample of the study materials for the Certificate in Treasury Fundamentals so that you can try before you buy? You can request for a sample to be emailed to you by filling in your details in the form below. 

If you want to hear an example of our podcasts, click here to listen to a clip from one that gives essential hints and tips to help you through the CertTF.

2. HOW YOU LEARN

All three units of the Certificate in Treasury Fundamentals are delivered online through the ACT Learning study site. As they are accessible online, you can start your studies at any time.

There are four assessment windows every year. This means that you can study until you feel ready and then you can book your assessment for the next available window.

Each unit will take you approximately 50 hours of study time to complete, with 150 hours study required in total. We estimate you should be able to complete the course in three to six months alongside your full-time work.

Learning licence

When you buy your learning materials you will have access to them for nine months upon booking.

You can complete the learning for all the units in three to six months (150 study hours in total), so the nine-month learning licence gives you plenty of time to choose when you want to sit your assessment.

Learning materials

Online learning materials include:

  • study guides take you through the learning step-by-step
  • study guides can also be downloaded, if you prefer to learn offline
  • webinars which explain certain concepts in more detail
  • podcasts to supplement your learning
  • short activities to complete at the end of each reading
  • practice progress tests after each unit
  • practice exams.

Learning support

Online learning support includes:

  • student and online tutor discussion forum
  • access to study techniques and tips
  • access to additional resources.

 

 

3. ADDITIONAL SUPPORT

If you would like some additional support to help you get assessment ready, you can book 1-2-1 coaching in addition to your online learning package.

Find out more

4. ASSESSMENT

Whilst you are studying it’s up to you to decide when you are ready to opt in and take your assessment. You can take your assessments from anywhere in the world, wherever you have a reliable internet connection.

The assessment is one online exam.

LENGTH FORMAT NOMINAL PASS MARK
90-minute exam 75 Multiple choice questions 76%

These assessments are on demand.

Students must book at least 5 working days before their chosen date and select a date within the current window.

There are four exam windows each year to choose from.

You can view all the dates and detailed assessment information here:

Find out more

 

5. STUDENT MEMBERSHIP

When booking onto the Certificate in Treasury Fundamentals you will need to become a student member of the ACT.  Your student membership is valid for the duration of your nine-month learning licence, or until you pass your full qualification, whichever is soonest.

Student membership gives you access to lots of great things:

  • booking your assessment
  • online subscription to The Treasurer magazine
  • careers resources
  • events, regional groups and webinars
  • policy and technical updates
  • mentoring service.

Remember to take advantage of these membership benefits - they really help make your introduction into treasury a fuller experience and will ensure you make valuable contacts that can impact your career, especially if you’re just starting out! When you have successfully completed the certificate, you will be eligible to become an eAffiliate member and use the designatory letters CertTF. These are the internationally recognised letters that go after your name that recruiters and employers look out for as they show you are a very credible candidate. You can find out more about ACT membership here.

6. FEES

Certificate in Treasury Fundamentals learning materials, membership and assessment fees:

When you start studying, you buy your online learning materials and student membership at the same time. Your assessment can be booked at a later date, when you feel prepared and ready to sit the exam.

Online learning materials GBP 720 
Online assessment GBP 116
Student membership GBP 117

Fees are subject to the local VAT rate where applicable,

Certificate in Treasury Fundamentals exemption fees:

If you are eligible for an exemption from the Certificate in Treasury Fundamentals, you can automatically start the Certificate in Treasury without paying any fee.

7. BUY YOUR LEARNING MATERIALS AND STUDENT MEMBERSHIP

When you buy your learning and membership, you will need to log in to your ACT account. If you do not have one, you will be prompted to create one.

Have your credit / debit card details to hand; you will be required to make online payment through Stripe. We accept AMEX, Mastercard and Visa card payments.  Upon submission, you will receive an automated summary email.

A student membership fee is payable on booking. Your student membership is valid for the duration of your nine-month learning licence, or until you pass your full qualification, whichever is soonest.

Your booking will be processed within five working days. 

You will be sent a booking confirmation with information on how to start your studies and at this time you will become a Student member of the ACT.

Buy qualification

8. BUY YOUR ASSESSMENT
On-demand assessment window open 5 July 2022
On-demand assessment window closes 21 October 2022
Assessment booking deadline 5 working days before you wish to sit your exam

When you buy your assessment, you will need to log in to your ACT Learning account. If you do not have one, you will be prompted to create one.

Have your credit / debit card details to hand; you will be required to make online payment through Stripe. We accept AMEX, Mastercard and Visa card payments.  Upon submission, you will receive an automated summary email.

Your booking will be processed within five working days.

Buy assessment

On successful completion of the qualification, we’ll issue and send you a link to your digital credentials: a badge and/or an eCertificate. Digital credentials are a great way to showcase your achievement, and can be easily and safely displayed on your CV or website or shared online via LinkedIn, email signatures, social media, blogs and ePortfolios.

 

BOOKING FOR YOUR TEAM?

We can also deliver treasury fundamentals learning to companies with teams that are interested in taking either the full qualification or selected units, and tailor it to your business needs. Find out more about in-company solutions here