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Financial Management
Paper F9
Course Notes
ACF9CN07(N)
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F9 Financial Management
Study Programme
Page
Introduction to the paper and the course............................................................................................................... (ii)
1
Financial management and financial objectives .......................................................................................... 1.1
2
Economic environment for business............................................................................................................ 2.1
3
Financial markets and institutions ............................................................................................................... 3.1
4
Working capital ............................................................................................................................................ 4.1
5
Managing working capital ............................................................................................................................ 5.1
6
Working capital finance ............................................................................................................................... 6.1
End of Day 1 – refer to Course Companion for
Home Study
Progress test 1
7
Investment decision..................................................................................................................................... 7.1
8
Investment appraisal using DCF methods................................................................................................... 8.1
9
Allowing for tax and inflation........................................................................................................................ 9.1
10
Project appraisal and risk .......................................................................................................................... 10.1
11
Specific investment decisions.................................................................................................................... 11.1
End of Day 2 – refer to Course Companion for
Home Study
Progress test 2
12 Sources of finance..................................................................................................................................... 12.1
13 Dividend policy .......................................................................................................................................... 13.1
14 Gearing and capital structure .................................................................................................................... 14.1
15 Cost of capital............................................................................................................................................ 15.1
16 Capital structure ........................................................................................................................................ 16.1
End of Day 3 – refer to Course Companion for Home Study
Progress test 3
17 Business valuations................................................................................................................................... 17.1
18 Market efficiency ....................................................................................................................................... 18.1
19 Foreign currency risk ................................................................................................................................. 19.1
20
Interest rate risk......................................................................................................................................... 20.1
End of Day 4 – refer to Course Companion for Home Study
Progress test 4
21
Answers to Lecture Examples ................................................................................................................... 21.1
22
Question and Answer bank ....................................................................................................................... 22.1
23
Formulae and ratios to learn...................................................................................................................... 23.1
24
Appendix A: Pilot Paper questions ............................................................................................................ 24.1
25
Appendix B: Mathematical tables .............................................................................................................. 25.1
Don’t forget to plan your revision phase!
•
Revision of syllabus
BPP provides revision courses, question days,
mock days and specific material to assist you in
this important phase of your studies.
•
Testing of knowledge
•
Question practice
•
Exam technique practice
(i)
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INTRODUCTION
Introduction to Paper F9 Financial Management
Overall aim of the syllabus
To develop the knowledge and skills expected of a financial manager, relating to issues affecting investments,
financing, and dividend policy decisions.
The syllabus
The broad syllabus headings are:
A
Financial management function
B
Financial management environment
C
Working capital management
D
Investment appraisal techniques
E
Sources of business finance
F
Cost of capital
G
Business valuations
H
Risk management
Main capabilities
On successful completion of this paper, candidates should be able to:
•
Discuss the role and purpose of the financial management function
•
Assess and discuss the impact of the economic environment on financial management
•
Discuss and apply working capital management techniques
•
Carry out effective investment appraisal
•
Identify and evaluate alternative sources of business finance
•
Explain and calculate the cost of capital and the factors which affect it
•
Discuss and apply principles of business and asset valuations
Explain and apply risk management techniques in business
•
Links with other papers
Advanced Financial
Management (P4)
Financial
Management (F9)
Management
Accounting (F2)
This diagram shows where links exist between this paper and other papers that may precede or follow it. This
paper prepares you for the advanced (optional) paper on financial management (P4).
(ii)
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INTRODUCTION
Assessment methods and format of the exam
Examiner : Anthony Head
The examination is a three-hour paper and all questions are compulsory. Each question is worth 25 marks and
has both computational and discursive elements. The balance between computational and discursive elements
will continue in line with the pilot paper (50:50).
Candidates are provided with a formulae sheet and tables of discount factors and annuity factors (given in
Appendix B).
Format of the Exam
Marks
Question 1
25
Question 2
25
Question 3
25
Question 4
25
100
(iii)
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