ACCA Exam tips for June 2008 – FTC –F9
<p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;"><p> </p></span></span></p><p class="MsoNormal" style="MARGIN: 0pt;"><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">F9 – Financial Management</span><span lang="EN-US" style="COLOR: black;"><p></p></span></b></span></p><p class="MsoNormal" style="MARGIN: 0pt;"><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Tips include:</span><span lang="EN-US" style="COLOR: black;"><p></p></span></b></span></p><p class="MsoNormal" style="MARGIN: 0pt; TEXT-INDENT: 12pt;"><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Investment appraisal</span><span lang="EN-US" style="COLOR: black;"><p></p></span></b></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">NPV/IRR with tax and possibly inflation.</span></span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: Arial;"><p></p></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Payback, replacement analysis and capital rationing</span></span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: Arial;"><p></p></span></p><p class="MsoNormal" style="MARGIN: 0pt; TEXT-INDENT: 12pt;"><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Working Capital Management</span><span lang="EN-US" style="COLOR: black;"><p></p></span></b></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Receivables and Payables</span></span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: Arial;"><p></p></span></p><p class="MsoNormal" style="MARGIN: 0pt; TEXT-INDENT: 12pt;"><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Business Finance</span><span lang="EN-US" style="COLOR: black;"><p></p></span></b></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Gearing/capital structure calculations and comment thereon</span></span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: Arial;"><p></p></span></p><p class="MsoNormal" style="MARGIN: 0pt; TEXT-INDENT: 12pt;"><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Cost of Capital</span><span lang="EN-US" style="COLOR: black;"><p></p></span></b></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">CAPM theory, its advantages and disadvantages, and its use in calculating a cost of equity and a risk adjusted WACC</span></span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: Arial;"><p></p></span></p><p class="MsoNormal" style="MARGIN: 0pt; TEXT-INDENT: 12pt;"><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Risk Management</span><span lang="EN-US" style="COLOR: black;"><p></p></span></b></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Hedging foreign exchange risk and interest rates and risk management</span></span><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;"><br/><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;">Valuations</b></span></span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: Arial;"><p></p></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Asset and cash flow based values</span></span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: Arial;"><p></p></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><b style="mso-bidi-font-weight: normal;"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">The Financial Management Function and the impact of the economic environment upon it</span><span lang="EN-US" style="COLOR: black;"><p></p></span></b></span></p><p class="MsoNormal" style="MARGIN: 0pt 0pt 0pt 12pt;"><span class="apple-style-span"><span lang="EN-US" style="FONT-SIZE: 12pt; COLOR: black; FONT-FAMILY: Arial;">Objectives in both the corporate and NFP sectors</span></span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: Arial;"><p></p></span></p>页:
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