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Overview

From 2016 Associate and Members applicants must demonstrate a level of technical knowledge appropriate to public practice of Turnaround Management by passing Theoretical Knowledge examinations in accordance with the procedures set out herein.  The new European Learning Management System (LMS) will bring Europe into line with the US and the CTP qualifications.  This online portal capability will allow our members and new examination candidates the opportunity to study for an industry recognised turnaround qualification in the disciplines of Management and Finance and Accounting.  For applications and further information, please contact eactp@turnaround.org.

Approved Theoretical Knowledge Course

All candidates are required to complete an approved Theoretical Knowledge course prior to attempting the Theoretical Knowledge examinations.  The LMS will provide recommended self-study materials leading to examinations across:

  • Accounting & Finance;
  • Management; and
  • Law,

leading to the European Turnaround Certified Analyst (CTA) level qualification.

The programme will begin with the first two modules; Accounting & Finance and Management which will open in 2016.  The curriculum for these two modules are:

Accounting & Finance Topics

  • Bankruptcy reports
  • Financial reporting by entities in reorganization
  • Cash flow forecasting and planning
  • Realizable liquidation analysis
  • Bank covenants
  • Financial statements and cash flow analysis
  • Tax awareness
  • Product line/customer profitability taking into account allocation of overhead costs

Management Topics

  • Cause of business failure
  • Early warning signs of decline and failure
  • Basics requirements for successful turnaround
  • Characteristics of effective turnaround managers
  • Development of the turnaround plan
  • Design and selection of turnaround strategies
  • Emergency action
  • Stabilization
  • Ethics
  • Restructuring options

The main review materials for the certification exams is contained within the 'Body of Knowledge' (BOK) books which candidates will have online access to. Additional resources may be viewed as supplementary materials to augment any development areas a candidate may identify during their preparation.

The list below includes resources that were utilized in the development of the BOK or identified as topical:

Accounting & Finance Resources

- Finance for Executives: Managing for Value Creation, 2nd ed., Gabriel A. Hawanwini & Claude Viallet, (South-Western/Thomson Learning, 2002).
- Financial Reporting and Statement Analysis: A Strategic Perspective, 5th ed., Clyde P. Stickney, Paul R. Brown, & James M. Wahlen, (Thomson/South-Western, 2004).
- Bankruptcy and Insolvency Accounting Practice and Procedure, 7th edition – by Grant Newton

Management Resources

- Corporate Turnaround: How Managers Turn Losers in to Winners , Donald B. Bibeault, (Beard Books, 1998)

Additional Resources

- Calamari and Perillo on Contracts, 3rd ed., John D. Calamari & Joseph M. Perillo, (West Wadsworth 1999).
- Contracts: Examples and Explanations, 2nd ed., Brian A. Blum, (Panel Publishing 2001).
- Contracts in a Nutshell, 5th ed ., Claude D. Rohwer et al., (West Group 2000).
- Gilbert Law Summaries: Contracts, 14th ed., Melvin A. Eisenberg, (Harcourt Brace Legal & Professional Publications 2002).
- Secured Transactions in a Nutshell, 4th ed., Henry J. Bailey III & Richard B. Hagedorn, (West Group. 2000).
- Uniform Commercial Code in a Nutshell 5th ed., Bradford Stone (West Group 2001)
- Journal of Corporate Renewal Articles

- Alternatives-A Buyer's Perspective, JCR, June, 2010
- Battles Begin Early in Ch. 9, JCR, May, 2013
- Beefing Up Capital ABL Facilities, JCR, Jan-Feb 2013
- Being an Expert Witness, JCR, July-August, 2010
- Book Challenges Flawed Perceptions, JCR, October, 2011
- Bridging the Credibility Gap, JCR, Jan-Feb, 2014
- Cash-Flow Pitfalls, JCR, March, 2014
- Critical Management Issues in Distressed, JCR, Jan-Feb 2013
- Despite Skeptics Predictive Coding, JCR, October, 2012
- Directors' Duties Zone Insolvency, JCR, April, 2010
- Eligibility to File--Battleground, JCR, June, 2014
- Ethical Challenges in Turnaround, JCR, March, 2012
- Five Essential Elements Prearranged Bankruptcy, JCR, Jan-Feb, 2011
- Getting 'Fresh Start' After Ch. 11, JCR, June 2011
- Is It Time to Revisit 503, JCR, October, 2014
- Knowing When to Exit, JCR, May, 2012
- Licensor Chapter 11s Trademark, JCR, April, 2013
- Loan to Own with Twist, JCR, July-August, 2014
- Managing Risk Turnaround Management, JCR, April, 2008
- Minnesota Constructs Receivership, JCR, March, 2013
- NOLs May Be Gold Mines, JCR, June, 2011
- Not Your Father's Ch. 11, JCR, June 2013
- Protecting Patient Privacy in Fishbowl, JCR, July-August, 2014
- Razing Buildings to Raise Cash, JCR, May, 2011
- Real Estate Woes Community Banks, JCR, October, 2011
- Seven Tactics for Restructuring, JCR, June, 2009
- Six Ways Out- Art of Exit, JCR, April, 2008
- Surviving Economic Headwinds, JCR, April, 2013
- The Bankruptcy-Success Modeling, JCR, July-August, 2011
- Unearthing Fraud, Waste, Misuse, JCR, October, 2013
- When Payroll Gets Personal, JCR, April, 2008

 

November 2016 remains the objective for the first examinations across our European membership. 

We do require that applicants complete all three examinations within a two-year window that begins following the receipt of their first passing examination score.

Fees:

The price of €350 Euros or £275 GBP for each of the 3 modules will be charged but the EACTP is offering the following incentives:

€600 Euros / £460 GBP for candidates committing to both Management and Accounting and finance modules during 2016.  A further 10% reduction for the first 20 candidates that apply and are accepted

Theoretical Knowledge Exams

  • All applications for the booking for any Theoretical Examination must be recommended and countersigned by the Approved Theoretical Knowledge Training Organisation.
  • A candidate who qualifies for exemption from approved Theoretical Knowledge training will not be subject to this requirement but will be required to submit a Theoretical Knowledge Approved Training Exemption form at the time of booking the examinations.
  • Candidates should apply in writing using the appropriate application form. No bookings can be made by telephone and all bookings are made on a first come first served basis.
  • Examination fees must be sent with the application form. Bookings will not be made unless the correct fees have been received.
  • Once a booking is made, candidates will receive an examination booking confirmation by post.

The time between the closing date for applications and the examinations sittings will be a minimum of 3 to 4 weeks. The EACTP will endeavour to send booking confirmations, venue details and examination timetables to reach candidates within two weeks of the booking, and in any event at least two weeks prior to the sitting.

The exams will be held once a year. Examination applications will open on 1 June 2016 for exams in November 2016.

Exams in 2017 and thereafter will take place in June. Applications for the June 2017 exams will open on 1 September 2016. For more information see our exam timetable.

Theoretical Knowledge Exam Exemptions

Some candidates may be eligible for exemption from the finance paper if they are holders of an exam-based professional accountancy or finance qualification as approved by the Education and Training Committee Faculty.

Theoretical Knowledge Exam Validity

Passes in the written theoretical knowledge examination papers will remain valid, for the purpose of membership and practicing certificate application, for a period of three years only, from the date of the passing of the first theoretical knowledge examination paper. Renewals are based on satisfactory practical experience or approved CPD points.

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