ACCA Qualification F9 Financial Management / Финансовый Менеджмент: Курсы

Detailed syllabus
A Financial management function

1. The nature and purpose of financial management
2. Financial objectives and relationship with corporate strategy
3. Stakeholders and impact on corporate objectives
4. Financial and other objectives in not-for-profit organisations

B Financial management environment

1. The economic environment for business
2. The nature and role of financial markets and institutions
3. The nature and role of money market

C Working capital management

1. The nature, elements and importance of working capital
2. Management of inventories, accounts receivable, accounts payable and cash
3. Determining working capital needs and funding strategies

D Investment appraisal

1. Investment appraisal techniques
2. Allowing for inflation and taxation in investment appraisal
3. Adjusting for risk and uncertainty in investment appraisal
4. Specific investment decisions (lease or buy; asset replacement, capital rationing)

E Business finance

1. Sources of, and raising business finances
2. Estimating the cost of capital
3. Sources of finance and their relative costs
4. Capital structure theories and practical considerations
5. Finance for small and medium sized entities

F Business valuations

1. Nature and purpose of the valuation of business and financial assets
2. Models for the valuation of shares
3. The valuation of debt and other financial assets
4. Efficient market hypothesis (EMH) and practical considerations in the valuation of shares

G Risk management

1. The nature and types of risk and approaches to risk management
2. Causes of exchange rate differences and interest rate fluctuations
3. Hedging techniques for foreign currency risk
4. Hedging techniques for interest rate risk

Approach to examining the syllabus

• The syllabus is assessed by a three-hour paperbased examination.
• All questions are compulsory. It will contain both computational and discursive elements. Some questions will adopt a scenario/case study approach.
• Section A of the exam comprises 20 multiple choice questions of 2 marks each.
• Section B of the exam comprises three 10 mark questions and two 15 mark questions.
• The two 15 mark questions will come from working capital management, investment appraisal and business finance areas of the syllabus. The section A questions and the other questions in section B can cover any areas of the syllabus.
• Candidates are provided with a formulae sheet and tables of discount and annuity factors.