What you need to know for TPS Advanced Finance exams
The Advanced Finance course structure has changed in 2017.
If you attended TPS Advanced Finance classes in 2016 but are sitting TPS Advanced Finance exams in 2017 (either through exam failure or exam deferral) then this is the information you need.
All of the TPS 2017 exams will examine the TPS 2017 syllabus, so the notes you received in class will need to be updated to the new 2017 syllabus. If you haven’t done this yet, it's best to do this ASAP!
The TPS Advanced Finance update pack is available on the ICAS website, and it takes you through the main changes to Advanced Finance on a module-by-module basis.
This will make it easier for you to update your 2016 notes. If you want to start from scratch with the 2017 notes, these are available on the ICAS website.
We now have 23 modules and not 24.
Module 8 on Capital Structure has been removed from the course, and elements of this module have now moved to Module 10 on Ratios. Other parts of the module are also included in various Workshop Exercises.
As a result, Module 24 on Ethics has been renumbered as Module 8 for 2017.
The other big change for 2017 relates to the way in which currency information is provided, which affects Module 21 on Currency Derivatives. In the 2017 module, currency notation, forward pricing and option contract information has been changed.
This means that the way in which information is provided to you in questions and the way in which you should interpret it has changed.
Many of the actual numbers in the calculations have not changed, but it is crucial that you spend some time updating your understanding of the 2017 version of this module in preparation for the exams.
There are also a number of smaller technical changes and updates throughout the course. These are all detailed in the update pack and pertain to the following modules:
- Module 2 on Insolvency
- Module 3 on Government Economic Policy
- Module 5 on Cash and Working Capital
- Module 10 on Ratios
- Module 11 on Sources of Finance
- Module 13 on Stock Exchange Regulation
- Module 16 on Banks and Bank Credit
- Module 17 on Corporate Bonds
- Module 23 on Financial Services Regulation.
As these changes are small, it is best practice to use your 2016 notes and update them to reflect the 2017 changes.
Last word of advice
Don't forget to print your supplementary material. Remember that you will not be allowed to take a 2016 (or prior) version of the supplementary material into the exams with you.
The 2017 versions can be accessed and printed, and the supplementary material for Advanced Finance includes the Code of Ethics.
Most of all, we wish you best of luck for your exams!