Headquartered outside of Washington,D.C. and located regionally in Singapore. As the certifying body in treasury and finance, the Association for Financial Professionals (AFP) established and administers the Certified Treasury Professional (CTP) and Certified Corporate Financial Planning and Analysis Professional (FPAC) credentials, setting the standard of excellence in the profession globally. AFP’s mission is to drive the future of finance and treasury and develop the leaders of tomorrow through certification, training, and the premier event for corporate treasury and finance.
What Is FPAC?
The FPAC Certification gives you the skills to provide crucial insight into the financial decision-making process, communicating with and supporting decision-makers and stakeholders to drive a business to more growth.
The Role of an FP&A Professional
A newly certified FPAC professional provides insights to the financial decision making process in an organization through analysis, financial projections (planning, budgeting and forecasting) and reporting. They may work as a member of a team of financial analysts but they are also able to work independently.
- Analyze the trends of Key Performance Indicators (KPIs), especially relating to financial metrics such as sales, expenditures, and profit margin.
- Monitor KPIs and identify the cause of any unexpected variances
- Develop and continually improve budgeting, financial projections, and operating forecast
- Ad-hoc business performance reporting
- Present the monthly and quarterly financial reports of various units and departments
- Implement a business intelligence tool and dashboard reports
- Develop financial models and analyze them to support strategic initiatives
- Support management team and the Heads of Department with data-driven analysis
Course Content
Part I
Financial
Accument
Understanding and Managing Financial Information and Business Relationships
- Domain A: Concepts of Business and Finance
- Domain B: Systems and Technology – 17-23%
- Domain C: Business Partnering – 22-28%
Part II
Financial Analysis & Business Support
Building and Interpreting Financial Projections
- Domain A: Analysis and Projections – 37-43%
- Domain B: Models and Analytics – 42-48%
- Domain C: Business Communication – 12-18%
FPAC EXAM
Part I and Part II of the exam can be taken separately or in any order. You may choose, based on test site availability, to take both parts on the same day, on different days in the same window, or in two different windows.
FPAC Exam have two parts:
- Part I – Financial Accument (3 hours)
140 questions with 3 testing hours (include 25 minutes tutorial) - Part II – Financial Analysis and Business Support (4 hours and 30 minutes)
45 task-based simulation (2 hours and 45 minutes), 10 Case Analysis Scenarios (1 hours and 20 minutes) & 25 minutes tutorial
2022/2023 EXAM TESTING WINDOWS
| Testing Window | Early Application Deadline | Final Application Deadline | Cancellations/Refund Request Deadline | Deferral Request Deadline |
|---|---|---|---|---|
|
February 1, 2023 - March 31, 2023 |
November 18, 2022 |
November 18, 2022 |
January 18, 2023 |
March 31, 2023 |
|
August 1, 2023 - September 30, 2023 |
May 19, 2023 |
June 16, 2023 |
July 18, 2023 |
September 30, 2023 |
Eligibility
| Eligibilty Categories | Undergraduate Education | Graduate Education | Supplemental Education | Credential | Work Experience |
|---|---|---|---|---|---|
|
A |
Bachelor's or global equivalent in accounting, finance, economics or business |
None |
None |
3 years of FTE experience performing FP&A job task |
None |
|
B |
Bachelor's or global equivalent in any subject matter |
Master’s degree or higher or global equivalent degree in a finance, accounting, economics or business related field |
None |
None |
2 years of FTE experience performing FP&A job tasks |
|
C |
Bachelor's or global equivalent in a non-finance subject |
None |
Three semester hours of college-level course work or equivalent in finance and six semester hours of college-level course work or equivalent in financial accounting or managerial accounting |
None |
3 years of FTE experience performing FP&A job tasks |
|
D |
Bachelor's or global equivalent in a non-finance subject |
None |
None |
An approved accounting or finance related credential |
3 years of FTE experience performing FP&A job tasks |
Who Should Attend?
FPAC program is open to anyone who has an interest in or currently works in:
- Senior Financial Analyst
- Financial Analyst Finance
- ManagerHead of Long-Term Planning
- Budgeting Director of Finance Manager
- Financial Planning
- Analysis Principal
- Financial AnalystDirector
- Financial Planning
- Analysis Vice President
- Financial Planning
- AnalysisBusiness
- Planning Analyst Director
- Business Planning
- Business Controller Finance
- Accounting Manager Director
- Budgeting & Financial Analysis Director
- Strategic Data AnalystManager
- Business Planning &Strategy Director
- Budgeting & Analysis Budget & Financial Analyst
- Business Analyst
Frequently Asked Questions (FAQ)
AFP does not limit the number of times an exam candidate can retake the exam. However, if you need to re-test more than ten consecutive testing windows after your initial application, you will need to reapply and pay the application and examination fees.
The passing scaled score for both Parts of the exam is 500. The raw score is converted through a statistical formula, revealing a scaled score. The AFP do not indicate an exact number or percentage of questions that need to be answered correctly to pass the exam. As there is no penalty for incorrect answers, it is recommended to try to answer each question to the best of your ability.