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

Jun 2023
Sep 2023
Dec 2023
Mar 2024
Jun 2024

ACCA Study Hub
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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.