ACCA FM Test Centre

Syllabus A. Financial Management Function

A1. The nature and purpose of financial management

A2. Financial objectives and corporate strategy

A3. Stakeholders and impact on corporate objectives

A4. Financial and other objectives in NFP organisations

Syllabus B. Financial Management Environment

B1. The economic environment for business

B2. The nature and role of financial markets and institutions

B3. The nature and role of money market

Syllabus C. Working Capital Management

C1. The nature, elements and importance of working capital

C2a. The cash operating cycle

C2b. Accounting ratios

C2c. Management of inventories

C2d. Management of receivables

C2e. Managing Payables

C2f. Managing Cash

C3. Working Capital Funding

Syllabus D. Investment Appraisal

D1. Investment appraisal techniques

D2. Allowing for inflation and taxation in DCF

D3. Adjusting for risk and uncertainty in investment appraisal

D4. Specific Investment Decisions

Syllabus E. Business Finance

E1a. Short-term sources of finance

E1b. Long Term Finance

E1c. Equity finance

E1d. Islamic Financing

E1e. Internal Sources of Finance

E2ae. Estimating the cost of capital

E2b. Cost of Debt

E2c. The overall cost of capital

E3. Sources of finance and their relative costs

E4. Capital structure theories and practical considerations

E5. Finance for small and medium sized entities (SMEs)

Syllabus F. Business Valuations

F1. Nature and purpose of the valuation of business

F2. Models for the valuation of shares

F3. The valuation of debt and other financial assets

F4. Efficient Market Hypothesis (EMH)

Syllabus G. Risk Management

G1. The nature and types of risk

G2. Causes of exchange rate diff. and interest rate fluctuations

G3. Hedging techniques for foreign currency risk

G4. Hedging techniques for interest rate risk

FM Test centre

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