Certified Fiduciary Reporting Pro - CFRP™

Certified Fiduciary Reporting Pro - CFRP™

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Certification Overview

Certified Fiduciary Reporting Pros 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.

CFRP™™ 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.

The Certified Fiduciary Reporting Pro - CFRP™ is a foundational credential awarded by ITQMA to professionals who have demonstrated core competency in project frameworks


Exam Code: CFRP™-001

Exam Information

The exam comprises of 50 Multiple Choice Questions out of which the candidate needs to score 70% (35 out of 50 correct) to pass the exam.

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

  • The exam is conducted in AI-proctored mode and can be taken anytime, anywhere within an eight-month validity period.
  • Upon purchasing the Premium Package or an Exam Voucher Code, a voucher code with two attempts will be assigned to your login profile under the "My Vouchers" tab. You can then take the exam through the "My Exam(s)" tab in your profile. To take the exam, simply apply the voucher code.

  • The Exam Voucher included in the Premium Package or purchased separately is valid for two (2) attempts. If you are unable to pass the exam within these two attempts, you can purchase a new voucher code, which will grant you an additional two attempts.
  • Kindly Note: The voucher will not be valid for a second attempt if you pass the exam on your first attempt.

The Certified Fiduciary Reporting Pro - CFRP™™ Certificate is valid for life.

CFRP™™ is a Trademark of ITQMA.

The Certified Fiduciary Reporting Pro - CFRP™™ Certification has no pre-requisites (Completion of an E-Course is not mandatory from ITQMA), but we highly recommend doing the E-Course as maximum number of questions are drawn from the E-Course in the actual exam.

Download Sample 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 Perpetual Inventory Procedure
  • Departures from Cost Basis for Inventory Measurement

Module 3 - Accounting - Control and Monitoring of Cash Assessment

  • Control of Cash
  • Internal Controls
  • Controlling Cash
  • The Bank Checking Account
  • Bank Reconciliation
  • 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
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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

Certified Fiduciary Reporting Pro - CFRP™ are trademarks of ITQMA (IT Quality Management Association). All rights reserved.