Certified Financial Specialist (CFS)

CFS provides managers with a sound foundational system for day-to-day financial management of properties.

Practical financial training for housing professionals

Essential to the successful operation of a property is sound financial management. Certified Financial Specialist (CFS) teaches the fundamentals of property-level finance for managers of multi-family and senior housing communities.

This two-day certification course begins with an overview of basic financial statements and how they are properly used in day-to-day management of the property. Once the participant understands this foundational element of property-level finance, CFS goes in-depth on developing annual budgets that are achievable, accurate, and effective.

Please note: CFS is delivered entirely online. The CFS certification exam is also given online, and students have one week from the completion of the course to take the exam.

What you’ll learn:

  • Owner financial goals

It all starts with the financial goals of the owner. Participants get an overview of the various goals that owners may have and the importance of management staff understanding those goals.

  • The ABCs of financial management

Participants learn the key terms and concepts that underpin property-level accounting. They also learn the difference between the cash and accrual method of accounting—essential to understanding property financial statements.

  • Financial statements

The program provides a detailed explanation of the monthly income and expense statement and balance sheet, with emphasis on the former. Students learn what these statements truly mean and how they are properly used in daily property management.

  • Variance analysis

Participants learn how to use budget variance information to identify problems and take corrective action.

  • Budget preparation

Students learn how to research and gather data and information that is crucial to developing an accurate annual budget. Topics include forecasting revenue, estimating expenses, addressing shortfalls, capital planning, and correctly allocating the budget over a twelve-month period.

How you’ll learn:

  • CFS is a classroom-based program led by an experienced instructor and practitioner. The program intermingles short lectures with individual exercises and group discussion. The exercises are designed to reinforce the lecture material and provide opportunities for participants to practice newly learned knowledge and skills.

One Stop For Training and Certification

When you register for Certified Financial Specialist (CFS), you are signing up to attend a live online training course delivered by a training team that is the best in the industry. Included with your training is the CFS Certification exam, which you are able to complete up to one week after the conclusion of the training program. No need to find a testing provider or schedule an in-person exam – NCHM is your one-stop for a complete training and testing experience.

Course Profile

wdt_IDFirst ColumnSecond Column
9Duration (Live Online)Four Days; 1PM-5PM Eastern Each Day
10Exam (Online)Includes online exam - one week to complete
11FormatLive Online Instruction; Lecture supported by exercises and discussion
12PrerequisitesNone/suitable for all levels
13AudienceAll housing management personnel
14ProvidedCourse Materials Shipped Directly To You; Relevant portions of HUD manuals 4370.2 and 4381.5
15BringCalculator (required); highlighter, pen/pencil (recommended)

Upcoming Courses

Looking to register 20 or more individuals?

Private Training by NCHM may be the answer.

For organizations looking to train 20+ employees at one time, NCHM offers Private Training administered by an NCHM expert instructor. These sessions can be delivered either online or in-person. Reach out today to see if Private Training is a good fit for your organization.