Diploma in Treasury Management

Become a confident professional across all areas of treasury management. You’ll be the go-to person for in-depth technical treasury expertise, and respected for your ability to problem solve and enable the business to meet its objectives.


Perfect for you if you are:

  • working in or with treasury at a managerial or senior operational level


This qualification is made up of four units. The first three are mandatory and for the last you can choose between two units to take as your final unit based on your area of preference. The options have been designed to allow you to specialise according to your personal interest and cover either financial reporting and tax regulation or trade finance. For full ACT accreditation you will need to complete four modules and sit the assessments. If you are ACCA, CIMA or ICAEW qualified, exemptions apply and optional units may be mandatory. Please see accountancy exemptions for further information.  

Unit 1: Corporate finance for treasury

The unit begins by setting the context in which corporate finance strategy is developed, providing an introduction to concepts such as expected shareholder returns and the funding decisions that must be taken in response to the risk appetite of the organisation. It then explores corporate finance theory and the cost of capital before moving on to an analysis of both equity and debt as sources for finance for the organisation. The unit then turns to project appraisal and consideration of some of the more advanced business evaluation techniques, and concludes with a discussion of what corporate finance means for treasury in practice and the role that treasury should play in the management of capital structure.

On completing unit one you will be able to:

  1. Evaluate how shareholder value is integral to the development of appropriate corporate finance strategy.
  2. Apply corporate finance theory to the identification and implementation of a capital structure that will meet the organisation’s objectives.
  3. Implement strategy to manage expectations of equity investors.
  4. Critically assess a range of debt funding sources, in order to support the objectives of the organisation.
  5. Utilise the appropriate valuation and project appraisal model to aid decision making and the ongoing management of projects, acquisitions and disposals.
  6. Recommend an appropriate treasury structure, which will support the achievement of the organisation’s corporate finance objectives, whilst ensuring relationships with key stakeholders are effectively managed.

Unit 2: Risk management for treasury

To manage risk effectively, the company must first understand the risks to which it is exposed and determine its own appetite for risk. Having identified why a risk management policy is important and how the risk appetite of the organisation will influence decision making, the unit follows the structure of a generic risk management framework to explore the ideas of risk identification, evaluation and management.

The unit will provide practical techniques for identifying and assessing the relative importance to the organisation of a range of treasury and other risks. A range of quantitative and qualitative approaches to risk measurement will be covered, in order to enable the systematic evaluation of risks. The unit will then investigate the ways in which risks can be managed. Finally, the unit will analyse how risk is reported, both internally and externally, and how the effectiveness of risk management is reviewed and fed back into the risk management process.

On completing unit two you will be able to:

  1. Evaluate the key factors which organisations should take into account when establishing a robust and integrated risk management framework.
  2. Assess the risks which treasury has responsibility for managing in variable economic, political and commercial environments in order to ensure treasury can put in place appropriate risk management techniques for commercial situations.
  3. Appraise various practical techniques for the evaluation of treasury and interrelated risks to identify the materiality of the risks which an organisation faces.
  4. Recommend the use of appropriate risk management techniques in managing those risks that have been identified, prioritised and evaluated.
  5. Evaluate reporting and governance in the risk management process to ensure the risk appetite and tolerance of the organisation is not exceeded and that the risks which an organisation faces are being appropriately communicated to stakeholders.

Unit 3: The treasury manager

The assignment requires you to adopt a structured approach to research a treasury management issue. This will involve analysing technical, business and behavioural issues and then developing practical recommendations which can be implemented in the current economic environment.

It will require the application of the business and behavioural skills found at the managerial level in the ACT’s competency framework and the resource guide which supports this unit will signpost you to a variety of resources to support the specific learning outcomes of this unit.

The scenario provided will enable you to demonstrate an appreciation of both treasury and firm-wide issues by applying treasury best practice in a managerial context.

On completing unit three you will be able to:

  1. Set departmental, team and personal objectives and manage others to implement actionable and measurable plans within the agreed time, budget and quality parameters in order to support the achievement of the organisation’s objectives.
  2. Manage and control the financial and risk management responsibilities of a treasury department whilst ensuring that internal financial controls are applied in accordance with relevant legislation.
  3. Manage staff to collect and analyse data to produce timely reports and recommendations for colleagues and stakeholders, in order to help solve issues, minimise risk and justify strategic decision-making.
  4. Demonstrate the added value which an effective treasury team provides to an organisation.
  5. Persuade, negotiate and/or convince internal and external stakeholders to support particular ideas or plans to maximise the value of the business, and support others to do likewise, including managing a team to achieve objectives and synthesise conflicting views in order to formulate appropriate strategies.

Unit 4A: Financial reporting, tax and regulation for treasury

This unit provides an understanding of the key aspects of regulation, reporting and tax that treasurers need to understand.

The key financial accounting considerations when undertaking treasury transactions are explored in order to ensure that accounting and reporting of such transactions is accurate and the possible implications of such transactions on the financial results of the organisation are fully understood. Issues of regulation, documentation and taxation are also explored to enable the treasurer to make informed decisions about how best to structure their activities.

On completing unit four A you will be able to:

  1. Understand the key aspects of reporting, regulation, documentation and taxation that impact on treasury activities.
  2. Evaluate the impact of the organisation’s structure on accounting for treasury.
  3. Recommend how treasury transactions might be structured to mitigate the impact of accounting standards.
  4. Recommend how treasury policies and procedures can be developed to reflect corporate governance requirements.
  5. Evaluate the terms and conditions commonly occurring in legal documentation in order to develop and understand the implications of legal contracts underpinning financial transactions.
  6. Interpret developments in financial regulation in the context of its application to corporate treasury.
  7. Evaluate the impact of tax regulation on the structure of the organisation and activities undertaken by treasury.

Unit 4B: Working capital and trade finance

The unit establishes the differences between working capital (cash optimisation) and trade finance (risk mitigation) and the importance of each to the organisation as a whole.

The key elements of working capital will be examined and techniques identified to enable the treasurer to recommend solutions for the organisation that balances the conflicting demands of the working capital cycle. The unit evaluates the various tools that may be used to manage the risks associated with trading both domestically and internationally and identified a number of key payment processes that offer alternative risk profiles to enable the treasurer to meet the risk appetite of the organisation.

Finally the unit explores how the role of treasury interlinks with working capital and the provision of trade finance solutions.

On completing unit four B you will be able to:

  1. Analyse the range of practices, procedures, and risks inherent in domestic and international trade in order to manage the complexities and risks involved.
  2. Critically assess accounts receivable, accounts payable, supply chain and inventory control in order to recommend how the organisation can optimise these processes whilst minimising cost and maintaining operational flexibility.
  3. Recommend the appropriate trading arrangements for domestic and international trade in order to manage the risks arising from such trading and support the operations of a business.
  4. Evaluate appropriate specialised financing techniques in order to manage the cash flow risks arising from the additional complexities arising when transacting internationally.
  5. Appraise the importance of optimising working capital for domestic and international trade in order to develop strategies for working capital management, including the role of IT.


  How you study
Course materials are online so you can start your studies any time. There are two online assessment windows every year. This means you can study until you feel ready and then you can book your assessment time for the next available window.

  Study time
Complete all units in 12 - 18 months. 600 study hours in total.

  Learning licence
Access to the online course for 36 months.

Two online assessments (3 hours each) and two assignments.
Take your assessment from anywhere in the world, wherever you have a reliable internet connection. Find out more.

Course fee per unit £575  
Student membership fee £173 (valid for the duration of your 36 month learning licence, or until you pass your full qualification, whichever is soonest.)
Assessment fee per unit £260

  Entry requirements
The progressive learning structure of ACT qualifications means entry requirements apply. Before starting the Diploma in Treasury Management, you need to have completed the Certificate in Treasury, Certificate in International Treasury Management or have evidence of significant prior experience. You can view the full list of entry requirements here or view to see if you are eligible for direct entry.

If you are ACCA, CIMA or ICAEW qualified, you are exempt from certain units of the Diploma. Click here to check the full list of accountancy exemptions.

The Diploma in Treasury Management 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. Learning materials also include webinars and podcasts to help get you assessment ready. You will have access to your online content for 36 months upon booking, giving you plenty of time to choose when you want to sit your assessment.

24 / 7 access so you can study when and where you want


Webinars, podcasts, specimen exam, study techniques and tips


Online dedicated tutor support and student discussion forums


When booking onto the Diploma in Treasury Management you will need to become a student member of the ACT.  Your AMCT student membership is valid for the duration of your 36 month learning licence, or until you pass your full qualification, whichever is soonest.

Student membership gives you access to lots of great things:

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

Remember to take advantage of these membership benefits - they are designed to help make you a well-rounded finance professional. When you have successfully completed the diploma, you will be eligible become an Associate Member and use the designatory letters AMCT. These are the internationally recognised letters that go after your name that recruiters and employers look out for as they show you are a very credible candidate. You can find out more about ACT membership here.


When you are ready to book, you will be asked to create an ACT Learning Academy account if you haven’t already got one. You will need to provide date of birth, full postal address, telephone number and email address.

If you need to submit evidence of your eligiblity to study the Diploma, please have this ready. You will need to upload this on the booking form so that we can fully process your online course booking or exemption purchase. 

Have your credit / debit card details to hand, you will be required to make online payment through WorldPay. Upon submission, you will receive an automated summary email.

Your booking will be processed within five working days. You will be sent a booking confirmation with information on how to start your studies.

A student membership fee is payable on booking. Your student membership is valid for the duration of your 36 month learning licence, or until you pass your full qualification, whichever is soonest.



Individual unit: *
GBP 575 I AED 2,695 I USD 735

Four unit bundle: *
GBP 2,200 I AED 10,300 I USD 2,815

Student membership fee:  *
GBP 173 I AED 810 I USD 220

Exemption fees:  *
GBP 260 I AED 1,215 I USD 335 per unit

* Fees are subject to local rate of VAT where applicable

Buy qualification

To help you get assessment ready, you can purchase a learning workshop in addition to your online learning package. Workshops run throughout the year, so if you’re unsure right now, you can always come back and book these at a later date.

Available for units 1 and 2, this one-day revision workshop is fast paced and focuses on preparing you for your assessment. Your expert tutor will bring their industry expertise to the classroom, covering assessment preparation techniques, revision, tutor-structured solutions and assessment question practice. Intensive revision is run in London. 

  • A one-day classroom workshop taught by an expert tutor with printed revision notes to recap
  • Gain beneficial hint and tips to help with your revision
  • Tutor-structured solutions and assessment question practice
  • Increased confidence in your ability to tackle the assessment
  • Supported by your tutor at any time via the ‘Ask the tutor email’

Location: London

For further information and dates, please see the brochure below.

Intensive revision fee:

Book your place at least 14 days before the workshop, to avoid disappointment.

GBP 400 I AED 1,870 I USD 510*

* Fees are subject to local rate of VAT where applicable

Buy a workshop


When you need some specific help, you can book this personalised support service, which includes individualised support on a selected topic of your choice via phone or skype. Your tutor will design some questions prior to the call that are tailored to your requested topic area. You will receive additional exam practice questions and feedback on your response to help you with your exam technique, designed to consolidate your knowledge on any topic areas you are struggling with and get you assessment ready.

This service provides 2 hours of personalised support via phone or via skype (broken up into 2 x 1 hour sessions)

Detailed personalised tuition on pre-agreed topics:

  • Additional guided exam standard question practice. The tutor will design some questions prior to the call that are tailored to requested topic areas 
  • Opportunity to answer the questions during the call to test your knowledge and for the tutor to provide you with immediate feedback. 
  • Key advice on exam technique

Coaching service fee:
GBP 125 I AED 585 I USD 160 *

* Fees are subject to local rate of VAT where applicable

Buy a workshop


Your online assessments for each unit can be booked at any time through the ACT. You can book straight away or wait until closer to the booking deadlines. 
Fee: £260 per unit  *

* Fees are subject to local rate of VAT where applicable

Book assessment

I have already been scouted for various firms who have been impressed with the addition of AMCT to my CV, so it must hold a significant amount of clout.
Andrew Stewart, Financial Risk Consultant, JC Rathbone Associates

We can also deliver treasury management learning to companies with teams that are interested in taking either the full qualification or selected units, and tailor it to your business needs. Find out more about in-company solutions here

Would like a sample of the study materials for the Diploma in Treasury Management so that you can try before you buy? You can request for a sample to be emailed to you by filling in your details in the form below.