The Association of Corporate Treasurers Award in Cash Management Fundamentals (AwardCMF) The Association of Corporate Treasurers

This Award in Cash Management Fundamentals (AwardCMF) is designed to provide students with an understanding of the essentials of cash management and working capital, allowing those who are new to the subject the opportunity to get to grips with fundamental areas before moving onto the full Certificate in International Cash Management.


Perfect for you if you:

  • are looking to take the first step in developing the essential skills and knowledge required for a career in cash and liquidity management, and you're not ready to commit to the full Certificate in International Cash Management
  • have recently moved into a cash management role (or would like to), either within corporate treasury or as part of a general finance remit, and would like to gain an understanding of the fundamentals of this topic
  •  are a banker or a consultant who needs to understand the basics of cash management from the perspective of the corporate in order to advise clients more effectively


  • ACT Competency Framework Level: Operational Level 
  • Study Time: 1-3 Months, 40-45 Study hours
  • Assessment Methods: 1 Online assessment
  • Entry Requirements: No entry requirements
  • Course Fees:   USD 675; AED 2431
  • Student Membership: USD 243
  • Assessment Fees: USD 125


There are no entry requirements for this award.


Award in Cash Management Fundamentals (AwardCMF) is designed for bankers and treasury staff who require an understanding of the essentials of cash management and working capital. On completion of the AwardCMF, students have the option to go onto complete the full Certificate in International Cash Management (CertICM) qualification. 

AwardCMF seeks to help students understand the many roles played by treasury and its partners in the business of managing cash and liquidity. It develops knowledge in banking products and services among treasurers and finance teams and provides FIs better insight into their clients' needs and how their products and services can be better targeted at these needs. 

 Working capital is also explored, focusing on helping students to understand and interpret key financial statements and exploring how cash managers can use this to fine tune discussions on working capital. The unit helps treasury and finance to understand sources of how to improve working capital and for banks to identify opportunities to support their clients in this.

This qualification is made up of the two units below:

  • Unit 1: Cash Management
  • Unit 2: Working capital management

The Award in Cash Management Fundamentals (AwardCMF) is delivered online, through the ACT Learning Academy learning management system. Study guides take you through the learning step by step. You can also download them if you want to study offline. You will have access to your online content for 6 months, giving you plenty of time to choose when you want to sit your assessment. 

Each unit takes between 20-22 hours to complete, with 40-45 hours required to complete the whole Award. We estimate you should be able to complete the course in 1-3 months alongside your full time work.


  • At the end you will take One remotely invigilated online exam.
  • The exam is taken online via the ACT eAssessment Centre, and the invigilator (ProctorU) will be overseeing you through the entire assessment via webcam.
  • To complete the Award in Cash Management Fundamentals (AwardCMF) you will be required to pass the assessment.


When booking onto the Award in Cash Management Fundamentals you will become an eAffiliate member of the ACT for up to 12 months.

This gives you access to lots of great things: 

  • online subscription to The Treasurer magazine
  • careers resources
  • events, regional groups and webinars
  • policy and technical updates
  • mentoring service

Remember to take advantage of these benefits - they really help make your introduction into treasury a fuller experience and will ensure you make valuable contacts which can impact your career, especially if you're just starting out! 

The ACT supports the development of professional standards and best practice both inside and outside of treasury. We do this through our competency framework, which defines the skills and competencies needed by treasury professionals to operate successfully in today’s challenging business climate, our professional qualifications and accredited programmes.

We are committed to continuing professional development (CPD), proudly so following our Royal Charter in 2013, and to helping treasurers and those with treasury responsibilities be more effective in their jobs and perform the vital role they play in business today.

Why study ACT qualifications?

The economy depends on strong financial markets which in turn need skilled and trained people to manage the cash and the risks that will ultimately drive growth in international trade. Underpinned by the ACT Competency Framework, ACT qualifications provide the practical tools and professional benchmark for skilled treasury performance and together with ACT membership, offer a trusted, credible and recognised standard.

How the qualifications have changed?

We have revised our syllabi against the new ACT Competency Framework which is the result of consultation with senior treasurers from multinational corporations, banks and learning and development teams worldwide. Mapping our qualifications against the skills and competencies of the framework means we continue to have the most up to date and relevant qualifications for real world treasury practice.

The ACT difference

Choosing to study an ACT qualification is just the start. Only once you qualify, and take up your ACT membership, can you use your designatory letters. These are what really set you apart and offer a mark of professional distinction to your employers, peers and clients. Of course there are other providers of treasury training, but your membership of the chartered body for the profession shows you are serious about your career in treasury and committed to maintaining the very highest standards.

ACT qualifications:

  • Certificate in Treasury Fundamentals
  • Certificate in Treasury
  • Diploma in Treasury Management
  • Award in Cash Management Fundamentals
  • Certificate in International Cash Management
See all The Association of Corporate Treasurers courses

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