acca考试科目F9笔记NOTES.docxVIP

ACCA Paper F9FinancialManagementClass Notes2 ? The Accountancy College Ltd January 2009All rights reserved. No part of this publication may be reproduced, stored in aretrieval system, or transmitted, in any form or by any means, electronic,mechanical, photocopying, recording or otherwise, without the prior writtenpermission of The Accountancy College Ltd. 3ContentsPAGEINTRODUCTION TO THE PAPER 5FORMULAE SHEET 7CHAPTER 1: FINANCIAL MANAGEMENT: AN INTRODUCTION 11CHAPTER 2: INVESTMENT APPRAISAL TECHNIQUES 21CHAPTER 3: ADVANCED DISCOUNTED CASH FLOW TECHNIQUES 39CHAPTER 4: LONG TERM SOURCES OF FINANCE 61CHAPTER 5: COST OF CAPITAL 69CHAPTER 6: CAPITAL STRUCTURE AND RISK ADJUSTED WACC 91CHAPTER 7: RATIO ANALYSIS 101CHAPTER 8: RAISING EQUITY FINANCE 117CHAPTER 9: WORKING CAPITAL MANAGEMENT 123CHAPTER 10: EFFICIENT MARKET HYPOTHESIS 147CHAPTER 11: VALUATION 151CHAPTER 12: RISK 1654 INTRODUCTION TO THE PAPER 5Introduction to thepaperINTRODUCTION TO THE PAPER6 AIM OF THE PAPERThe aim of the paper is to develop knowledge and skills expected of a financialmanager, relating to issues affecting investment, financing and dividend policydecisions.OUTLINE OF THE SYLLABUS1. Financial management function2. Financial management environment3. Working capital management4. Investment appraisal5. Business finance6. Cost of capital7. Business valuation8. Risk managementFORMAT OF THE EXAM PAPERThe syllabus is assessed by a three hour paper-based examination.The examination consists of 4 questions of 25 marks each. All questions arecompulsory.FAQsHow does the new syllabus relate to the papers in theprevious syllabus?The paper is materially based on the previous paper, 2.4 FMC, but with additionalmaterial from paper 3.7 SFM. It covers the financial management topics from thefirst paper but drops management accounting topics such as Standard Costing,Budgeting and ABC. To balance against that it now incorporates new topics on Costof capital and Valuation.FORMULAE 7FormulaeFORMULAE8 FORMULAEEconom