-
ACCACIMACFA
成建制方向班、业余
制班全国招生中
________________________________
__________________________________________________
_________
超实用
| ACCA
F9
重要知识点讲解及考点分析
1
ACCACIMACFA
成建制方向班、业余制班全国招生中<
/p>
________________________________________
__________________________________________________
_
考试题型
Section A
单选题
2
’
*15
Section B
综合单选题
10'(
每题
5
道选择)
*3
Section C
综合计算题
20' *
2
核心练习真题
DEC 14 - Mar/Jun
16
Specimen paper
2016
Specimen paper
2014
Part A
Financial management function
2
AC
CACIMACFA
成建制方向班、业余制班全国招生中
___
__________________________________________________
______________________________________
Part B Financial management
environment
考试分布
Section A
单选题
4-6
道
考点类型
基本概念
< br>,
注意理解,运用到
scenario
question
;
ratio
小计算(
TSR
)
复习计划
Exam Kit
&
历年真题:选择题(
Section
A
)
考点总结
1.
讨论
Financialmanagement &
objective
Objectives
:
maximization of shareholder
wealth VS accounting profit
计算能够反映盈利能力和对股东财富的影响的
ratio
常见
Ratio
1
)
Shareholder
wealth
TSR
DPS, Dividend yield
EPS, P/E ratio
2
)
Financial perf
ormance
:
profitability
ROCE
ROE
2.
激励高管实现股东财富最大化的目标
a) Managerial reward schemes:
Performance-related bonus,
share,shareoption
b)
corporate governance
c)
stock exchange market rule
3. Objective setting in not
forprofitorganizations
非盈利机构指标
3
ACCACIMACFA<
/p>
成建制方向班、业余制班全国招生中
_____________
__________________________________________________
____________________________
value for
money(Economy
,
Efficiency
,
Effetiveness)
1
)财政政策
Fiscal
policy VS
货币政策
monetary
policy
Fiscal
policy
Taxation
Government expenditure (budget,
government borrowing)
2)
宏观经济目标
Macroeconomicpolicy &
targets
:
3)
政府干预
competitionpolicy<
/p>
;
government
assistance
;
green
policies
;
corporate
governanceregulation
4.
货币市场
money VS
资本市场
capitalmarkets
i)
Role of financial
intermediaries
金融中介作用
ii) principal money market
instruments
主要的货币市场工具
VS
Monetary policy
Interest rate
Money supply
Part
C Working capitalmanagement
考试分布
Section A
单选题
3-4
道
or Section A
单选题
2
道
Section B
综合单选题
10
分
Section C
综合计算题
20
分
考点类型
文字理论
WC management
,
inventory,receivables, payables,
cash
管理工具计算
复习计划
Exam Kit
&
历年真题:选择题
&
计算题
考点总结
ivesof WC
management
i) WC investment
policy: aggressive/conservative
4
ACCACIMACFA
成建制方向班、业余制班全国招生中
_______________
__________________________________________________
__________________________
ii)
central role of WC managment
infinancialmanagement
iii)
Factors determine the level ofworkingcapital
investment
结合行业特征,公司
working capital
管理策略及
operatingcycle
iv) working capital financing policy
融资策略
a)permanent andfluctuatingworking
capital
b)Aggressive,
Conservative,Matching
ory management
存货管理
i)
计算
EOQ &
讨论
EOQassumption,
disadvantage
ii)
计算
Whether take Bulkpurchase
discount
:
cost vs
benefit
iii)
计算
Inventory level:buffer
inventory/re-order
level/averageinventory
iv)
讨论
Just-in-time
ablesmanagement
应收账款管理
i)Calculate and discuss of
offeringcashdiscount
ii)Calculate and discuss of factorservice:recourse
VS non-recource
思考角度:
cost VS
benefit
iii) Factor
considering to formulatereceivablepolicy
以及应收账款管理
3
个流程
Credit analysis system,
Creditcontrolsystem
,
Debt
collectionsystem
management
i) cash balance status and
investingchoice
ii) cash
budget & forcast
iii)
Baumol model and the Miller-Orr model
operating
cycle
i)
计算
ratio
:
Inventorydays,
receivable days,payable days, operating
cycle
Ratio analysis:
current ratio, sales/networkingcapital,
(ii) Cash flow budget
5
AC
CACIMACFA
成建制方向班、业余制班全国招生中
___
__________________________________________________
______________________________________
(iii) Overtrading and
overcapitalization
Part D Investment appraisal
考试分布
Section A
单选题
2-3
道
Section C
综合计算题
20
分
复习计划
Exam Kit&
历年真题:选择题
&
大题计算题
考点总结
ment
appraisal methods
各种方法优缺点
i) ROCE:
accouting profit
ii)
Payback period
iii)
IRR
iv)
核心计算考点
NPV
:注意
inflation
,
relevantcashflow
,
working capital ,Timing for tax
relief
& uncertainty
i) Difference between risk and uncertainty
文字理解
ii)
EV
计算
&
优缺点
iii)Sensitivity
analysis
计算优缺点
l investment
decision
i)Lease or buy
分析
Cost VS benefit, consider relevant
cashflow
ii) Asset
replacement
iii) Capital
rationing
6
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