ACCA Paper F9 Financial Management - …ACCA纸F9财务管理-u2026.pdfVIP

ACCA Paper F9 Financial Management December 2014 to June 2015 Interim Assessment – Answers To gain maximum benefit, do not refer to these answers until you have completed the interim assessment questions and submitted them for marking. ACCA F9 : FINANCIAL MANAGEMENT © Kaplan Financial Limited, 2014 The text in this material and any others made available by any Kaplan Group company does not amount to advice on a particular matter and should not be taken as such. No reliance should be placed on the content as the basis for any investment or other decision or in connection with any advice given to third parties. Please consult your appropriate professional adviser as necessary. Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to any person in respect of any losses or other claims, whether direct, indirect, incidental, consequential or otherwise arising in relation to the use of such materials. All rights reserved. No part of this examination may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system, without prior permission from Kaplan Publishing. 2 KAPLAN PUBLISHING INTERIM ASSESSMENT ANSWERS SECTION A 1 C The IRR is based on discounted cash flow principles. It therefore considers all of the cash flows in a project (A), does not include accounting costs such as depreciation (B) and it considers the time value of money (D). It is not an absolute measure of return, however, as the IRR is expressed as a percentage. Two projects can hav