Advanced Financial Management (AFM)

You'll apply relevant knowledge, skills and exercise professional judgment as expected of a senior financial executive or advisor, in taking or recommending decisions relating to the financial management of an organisation in private and public sectors.

Learn more about the AFM M&M proposition formula

From the September 2024 exam session onwards, the AFM formula sheet has been amended to include a rearranged version of the Modigliani and Miller (M&M) proposition 2 formula. Check out our new video to understand when you should and should not use the formula and how to use it in a spreadsheet.

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Exam resources

Pass rates

47%
45%
45%
46%
46%
Jun 2023
Sep 2023
Dec 2023
Mar 2024
Jun 2024

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Ethics and Professional Skills Module

Students who complete EPSM in advance of sitting Strategic Professional exams have a 25% better success rate. 

AFM professional skills changes

From September 2022, we'll be introducing professional skills marks into the ACCA Strategic Professional Options exams. 

ACCA Study Hub

Exclusive online access to Strategic Professional study materials for students in Africa.