acca考试科F9笔记NOTES.docx

[年] ACCA考试科目F9笔记NOTES ACCA Paper F9 Financial Management Class Notes 2 ? The Accountancy College Ltd January 2009 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of The Accountancy College Ltd. 3 Contents PAGE INTRODUCTION TO THE PAPER 5 FORMULAE SHEET 7 CHAPTER 1: FINANCIAL MANAGEMENT: AN INTRODUCTION 11 CHAPTER 2: INVESTMENT APPRAISAL TECHNIQUES 21 CHAPTER 3: ADVANCED DISCOUNTED CASH FLOW TECHNIQUES 39 CHAPTER 4: LONG TERM SOURCES OF FINANCE 61 CHAPTER 5: COST OF CAPITAL 69 CHAPTER 6: CAPITAL STRUCTURE AND RISK ADJUSTED WACC 91 CHAPTER 7: RATIO ANALYSIS 101 CHAPTER 8: RAISING EQUITY FINANCE 117 CHAPTER 9: WORKING CAPITAL MANAGEMENT 123 CHAPTER 10: EFFICIENT MARKET HYPOTHESIS 147 CHAPTER 11: VALUATION 151 CHAPTER 12: RISK 165 4 INTRODUCTION TO THE PAPER 5 Introduction to the paper INTRODUCTION TO THE PAPER 6 AIM OF THE PAPER The aim of the paper is to develop knowledge and skills expected of a financial manager, relating to issues affecting investment, financing and dividend policy decisions. OUTLINE OF THE SYLLABUS 1. Financial management function 2. Financial management environment 3. Working capital management 4. Investment appraisal 5. Business finance 6. Cost of capital 7. Business valuation 8. Risk management FORMAT OF THE EXAM PAPER The syllabus is assessed by a three hour paper-based examination. The examination consists of 4 questions of 25 marks each. All questions are compulsory. FAQs How does the new syllabus relate to the papers in the previous syllabus? The paper is materially based on the previous paper, 2.4 FMC, but with additional material from paper 3.7 SFM. It covers the financial management topics from the first paper but drops management accounting topics such as Standard Costing, Budgeting and ABC. To balance against that it now incorpo