ACCA F9 also known as Financial Management is a course offered by the ACCA management in order to help students understand what financial management is all about.It is a vast subject including and covering various aspects of financial management, as the name implies. ACCA F9 is the last paper of the F series and belongs to the second module. This is a manual and is checked by the authorities in UK.
ACCA F9 Syllabus Highlights.
1- Function of financial management.
2- Environment of financial management.
3- Investment appraisal.
4- Management (working capital).
5- Business finance.
6- Cost of capital.
7- Risk management.
8- Business valuations.
ACCA F9 Syllabus Details.
1- Function of financial management.
2- Nature of financial management.
3- Purpose of financial management.
4- Relationship and financial purpose (with corporate strategy).
5- Skate holders and their impact on corporate objectives.
6- Environment of financial management.
7- Business environment, specifically economic.
8- The nature of financial market and institutions and role of financial market and institutions.
Investment Appraisal.
1- The process of appraisal and the nature of decisions.
2- Cash flow techniques (non-discounted).
3- Cash flow techniques (discounted).
Management (Working Capital).
1- The importance of working capital, the nature of working capital and the elements of working capital.
2- Determination of functioning strategies and work capital needs.
3- Management of accounts receivable, management of account payable, management of inventories and management of cash.
Business Finance.
1- Raising short term finance and sources of short term finance.
2- Raising long term finance and sources of long term finance.
3- Dividend policy.
4- Internal policy etc.
Cost Of Capital.
1- Different finance sources and their costs (relative costs).
2- Equity cost's estimation.
3- Overall capital costs' estimation, etc.
Risk Management.
1- Foreign currency risk's hedging techniques.
2- Interest rate risk's hedging techniques.
3- Different approaches to risk management and the types and nature of risks.
Business Valuations.
1- Valuation share models.
2- Valuation of financial assets and debts.
3- Purpose of financial assets and valuation of business.
4- Nature of financial assets and valuation of business.
5- Efficient market hypothesis (EMH), etc.
The passing rate of ACCA F9 was not very good last year. Only 38 percent of all the students studying this subject in the entire world were able to pass in 2011. As competition gets tougher, the syllabus and papers are made more competitive as well. Besides, with so many people getting involved with ACCA, the authorities have to make sure that only the capable ones get through so that we do not end up with a gazillion incapable accountants on our hands.
Because it is a manual, its exam is held twice a year. The gap between two consecutive papers of ACCA F9 is six months. It is usually held in June and December. Anyone who fails it in the first go can always try again six months later. Therefore, aspiring accountants should definitely try out for ACCA to understand and learn interesting subjects as ACCA F9.
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