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SCF Corporate Finance Professional

Written by Mahnoor Sheikh (ACCA)

Syllabus for exams from September 2027 to June 2028. Build the ability to evaluate issues of strategic importance in corporate finance in a way that creates value for shareholders.

About this exam

SCF replaces AFM and builds on E4 Finance and Investment. Comparing the two syllabus lists, the topics are regrouped: risk, valuation and financial strategy come first, and the corporate finance environment and dividend policy are separate. Use the AFM notes for the shared topics.

Exam format

DeliveryComputer-based exam, 3 hours 15 minutes
Section AOne 50-mark scenario-based question (40 technical marks and 10 professional skills marks). All four professional skills are examined in Section A
Section BTwo 25-mark scenario-based questions (20 technical marks and 5 professional skills marks each). Each examines at least two professional skills
Pass mark50 percent

From ACCA's syllabus and study guide. Questions in the real exam include multiple choice, multiple response (for example choose TWO), number entry and selection questions. This site's questions are single answer multiple choice.

This is the first syllabus for SCF, for exams from September 2027 to June 2028.

Syllabus map

The sections and topic titles below follow ACCA's syllabus. Open ACCA's study guide for the full learning outcomes.

A. Risk, valuation and financial strategy
  • Incorporating risk
  • Valuation
  • Financial strategy
B. Corporate finance environment and dividend policy
  • International trade and finance
  • Regulatory considerations
  • Corporate environmental, social and governance (ESG) and ethical issues
  • Dividend policy
C. Advanced investment appraisal
  • Discounted cash flow techniques
  • International investment
  • Application of option pricing theory in investment decisions
  • Impact of financing on investment decisions and adjusted present values
D. Corporate transformation
  • Acquisitions and mergers
  • Valuation for acquisitions and mergers
  • Regulatory framework and processes
  • Financing acquisitions and mergers
  • Financial reconstruction
  • Business re-organisation
E. Treasury and advanced risk management techniques
  • The role of the treasury function in multinationals
  • The use of financial derivatives to hedge against foreign exchange risk
  • The use of financial derivatives to hedge against interest rate risk
F. Professional skills
  • Communication
  • Analysis and evaluation
  • Scepticism
  • Commercial acumen

Official documents

Most topics in SCF are also in AFM. Use the AFM notes and the AFM practice questions for the shared topics.

Practice questions for the new topics

The notes and questions were written for this site from ACCA's syllabus. They are not ACCA material. Check anything you are unsure about against ACCA's study guide and your tuition provider's materials.