June 30th, 2005

Important Changes to the FDA Diploma Structure

The FDA Diploma is a recognised academic qualification that lays the foundations for a successful management career in the asset based finance industry. It has been developed in association with the Institute of Financial Services (ifs) and is the final stage of the FDA's Distance Learning Programme. Currently the ifs are making some changes that will affect the FDA Diploma, and as such, we would like to draw your attention to the material changes being implemented by the ifs.

The course currently consists of two modules run by the ifs, Asset Based Working Capital Finance and Structure of Accounts, and an FDA-run Residential Week. The ifs is replacing its' Diploma in Financial Services Management', the course which contains the two modules which contribute to our own FDA Diploma.

'Structure of Accounts' is Being Replaced by 'Measuring Performance'

The 'Structure of Accounts' module is being replaced by a new module - 'Measuring Performance'. This has been approved by the FDA as a worthy successor to Structure of Accounts as it focuses more on financial analysis and less on the preparation of accounts. Please visit the ifs website on www.ifslearning.com, and in particular the following page for details and the new syllabus:

Despite the fact that Structure of Accounts is being phased out, students can still register for Structure of Accounts during this current registration, and for the final time in February 2006. However, after this date the Structure of Accounts module will no longer exist and all registrations as part of the FDA Diploma for that module must be made for Measuring Performance.

Students can also however choose, during this current registration, to instead begin Measuring Performance. Either module will be acceptable as part of the FDA Diploma qualification at this time.

'Asset Based Working Capital Finance' Update

In addition to the above changes the FDA is in process of writing a new workbook for the 'Asset Based Working Capital Finance' module. This new, updated module will be called 'Cashflow Finance' and will cover largely the same syllabus as its predecessor. However, it will be reformatted and updated. So the current registration is the final one for Asset Based Working Capital Finance and then students will be registering for Cashflow Finance from the next registration in early 2006.

Changes to the Registration/Running Structure of ifs Modules

There are some exciting new features to the way the ifs will in future be running the core module - Measuring Performance and Cashflow Finance. This applies with immediate effect to Measuring Performance:

1. Flexible registration, i.e. there is no deadline and students can register at any time

2. Flexible assessment, i.e. a student can choose to be examined when they feel ready. The assessment is made up of two components: a two hour objective test (in multiple choice format) delivered electronically in various test centres around the country and one written coursework assignment. Both assessments must be passed in order to pass the module.

Registration Now Through the FDA

The costs now differ depending on whether students select the old or new format. The Asset Based Working Capital Finance and Structure of Accounts modules will cost £475 per module as normal. The Measuring Performance modular alternative to Structure of Accounts costs £620. In all cases this will be with no VAT to pay.

The next registration deadline is 31st August 2005 for examination in April 2006 and delegates have the option of registering for just one or both modules.

In order to streamline the registration process for Training Managers and students, all FDA Diploma registrations are now to come through the FDA. Please send the FDA Notification of Booking Form, and the relevant ifs booking form back to Kristina's attention at the FDA and we will liase with the ifs on your behalf. (If you require an ifs booking form for this registration period please call the FDA and ask for one to be sent to you.)

Further Information

If require more information on any aspect of the FDA Diploma course please contact Rachel Illidge, the FDA Distance Learning Manager, on Rachel.illidge@factors.org.uk.