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FREE JAIIB AFM Notes – Part 1 | ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS

FREE JAIIB FREE AFM Notes – Part 1 | ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS | JAIIB 2023

In this AFM short notes 2023, we are going to provide the important topics from all the modules of AFM MAY EXAM 2023 from the prescribed JAIIB syllabus MAY 2023. And if you are also among the JAIIB Candidates who is going to write this ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS MAY Exam 2023, then you must cover the following provided topics of ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS (AFM) at the least.

 

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JAIIB EXAM MAY 2023

IIBF conducts JAIIB Exams, one of the flagship courses offered by it, twice a year. It is conducted in May & MAY every year. This course has 3 subjects and PPB or Principles & Practices of Banking is one. In this article, you will get some FREE Study Notes or FREE Short Notes of the AFM Paper of JAIIB 2023 from our JAIIB AFM Study Material for 2023.

JAIIB AFM LATEST PRESCRIBED SYLLABUS FOR MAY 2023

The Accounting & Finance for Banking that has been prescribed for the upcoming JAIIB Exam 2023 has 4 modules which are further divided into different units.

IIBF JAIIB 2023 EXAM MODULE

NO.

MODULE NAME
Accounting & Financial Management for Bankers A Accounting Principles and Processes
B Financial Statements and Core Banking Systems
C Financial Management
D Taxation and Fundamentals of Costing

 

To check out the detailed syllabus of JAIIB– IE&IFS, PPB, AFM, RBWM click here.

Read Also:- JAIIB PPB Principles and Practices of Banking Short Notes Part 2

Related Links:

PPB AFM IIBF COURSES
JAIIB PPB Syllabus 2023 JAIIB AFM Syllabus 2023 JAIIB/CAIIB Full Video Course
JAIIB PPB Study Material PDF 2023 JAIIB AFM Study Material PDF 2023
JAIIB PPB Notes PDF 2023 JAIIB AFM Notes PDF 2023
JAIIB PPB Mock Test PDF 2023 JAIIB AFM Mock Test PDF 2023

FREE AFM FREE SHORT NOTES 2023:-

JAIIB AFM IMPORTANT TOPIC | 2023 EXAMS:

  1. CALCULATION OF INTEREST

Simple Interest: Simple interest or flat rate interest is the amount of interest paid each year in a fixed %age of the borrowed or lent amount at the start.

The formula for calculating simple interest:-

Interest = Principal x Rate x Time = PRT

Where,

‘Interest’ = I = Total interest amount paid
‘Principal’ = P = Lent or borrowed amount
‘Rate’ = R = %age of the principal charged as interest (p.a).
‘Time’ = T = Time of the loan (in years).

 

Important Topic:- JAIIB MAY EXAM 2023 | SCHEDULE OF LIVE CLASSES

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Read Also:- JAIIB MAY SYLLABUS 2023

Example:

P = Rs. 60,000.00, R = 10% i.e 0.10, T = 3 yrs. Find the interest amount paid.

Solution:

Interest = PRT

= 60,000 x 0.10 x 3 = Rs. 18,000.00

 

Compound Interest: It is paid on the original principal amount & accumulated part of interest.

The formula for calculating compound interest:

Principal = A (1 +r/n) n t

Where,

P = Principal Amount
A = Deposited Amount
r = the rate (expressed as a fraction)
n = no. of times per year that interest is compounded
t = no. of years invested

 

Read Also:- JAIIB 2023 EXAM STUDY MATERIAL

Frequently compounding of Interest. If the interest is compounded:

Annually = P (1 + r)
Quarterly = P (1 + r/4) 4
Monthly = P (1 + r/12) 12

 

Important Topic:- JAIIB EXAM MAY 2023 NOTIFICATION

Example:

The compound interest on Rs. 60,000 at 7% per annum is Rs. 8694. The period (in years) will be?

Solution:

A = Rs. (60000 + 8694) = Rs. 68,694.00

Let the time be n years.

Then, 60000 (1+7/100) n = 68694

(107/100) n = 68694/60000

(107/100) n = 11449/10000

(107/100) n = (107/100) 2

So, n = 2 years.

 

The Rule of 72: This allows you to determine the no. of years before your money doubles whether in investment or debt. Divide the number 72 by the rate (%)

Formula

The time period for Money to double = 72/r

 

Example:

If the FD interest rate is 6% & compounded yearly, how much time is required for it to double?

Solution:

Time period for Money to double = 72/6 = 12 years

 

Equated monthly installment (EMIs): The monthly payment a borrower makes on his loan. It’s a combination of interest & principal repayment. The total monthly amount is calculated in such a way that it remains constant all through the repayment tenure. In EMIs, the principal & the interest thereon is repaid through the equal monthly installment over the fixed loan tenure. For borrowers the benefit of an EMI is that they know precisely the money they will need to pay toward their loan each month, making their budgeting process easier.

Important Topic:- JAIIB AFM STUDY MATERIAL 2023 – ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS

Formula of EMI:

E = P × r × (1 + r) n / ((1 + r) n – 1)

Where,

E = EMI
P = Principle Amount of Loan
r = rate of interest calculated on monthly basis = Annual Interest Rate/12/100
(if its 10% annual, then its 10/12/100=0.00833)
n = Tenure in no. of months

 

Example:

For 100000 at 10% annual interest for a period of 12 months, it comes to:

= 100000*0.00833*(1 + 0.00833)12/((1 + 0.00833)12 – 1) = 8792

 

AFM LATEST STUDY MATERIAL FOR MAY 2023 EXAMS

The AFM Lectures are prepared & delivered by the expert team of Learning Sessions for MAY 2023 Exams especially & anyone preparing for the upcoming AFM or other paper of JAIIB – can access the Full video courses through:

The Study Material you will be getting access to pass the JAIIB MAY Exams:

  • ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS LIVE lectures
  • ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS Recorded lectures
  • ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS epdf notes
  • ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS Mock Tests (chapterwise)
  • ACCOUNTING & FINANCIAL MANAGEMENT FOR BANKERS Mega Mock Tests
  • 24 x 7 access
  • Unlimited Views
  • As per the latest Syllabus of JAIIB applicable for MAY 2023 Exams
  • All applicable updates are covered in the lectures

 

Read Also:- JAIIB Mock Tests/Exams, Study Notes, and PDF Material

You may also be interested in:
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JAIIB PPB Principles & Practices of Banking Short Notes Part 1 Notes-1
JAIIB PPB Principles & Practices of Banking Short Notes Part 2 Notes-2
Clear JAIIB Exam in Single Attempt in 15 Days JAIIB in 1 Attempt
JAIIB AFM NOTES PART 2 JAIIB AFM NOTES

 

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All the Best for your JAIIB AFM Exams this MAY 2023!

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