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F9 Financial Management

Past Paper Analysis Ytr’o9o;”’[[o k’,[] =kmjj\]]][n\n\\\ \ = ---[[ Drfffjjkk..kkkkk\\\][‘’mmmmmmmklkiikkkkklk k Overall Analysis Discussion 52% Computation 48%

F9 Financial management
Marks by syllabus areas
% 6 1 22 22 19 12 12 Financial management function Financial management environment Working capital management Investment appraisal Business finance Cost of capital Business valuation

7

Risk management

100

Financial management function

6%

D07 Introduction Financial objectives Stakeholders not-for-profit organisations

J08

D08

J09

D09

J10 8

??

8

12

9

Financial management environment

1%

D07 Economic environment Financial markets and institutions

J08

D08

J09

D09

J10

??

4

Working capital management

22%

Working capital Inventories Accounts receivable Accounts payable Cash WC funding

D07 3 7 7

J08 6 7 6

D08 10 8

J09 2 11

D09 21

J10 4 8

??

5

13

Investment appraisal

22%

Appraisal process Payback ROCE DCF Applications Tax Inflation Risk and uncertainty Lease or buy Asset replacement Capital rationing

D07

J08

D08

J09 7 4 3 7 4

D09

J10 5

??

8 4 5 8

18 2 5

4 4

3 3 11 3 5

6 4 4

3

Business finance

19%

D07 Short-term sources Long-term sources Dividend policy Gearing and capital structure Financing for SMEs 6 7 5 7

J08 5 8

D08 16 5

J09 16

D09 4 7 2

J10 17 2 4

??

Cost of capital

12%

D07 Ke computations Kd and Kp computations WACC Capital structure theory Project specific discount rates Impact of cost of capital on investments

J08 9 6 4

D08 2 1 3 11

J09 2 4 4 6

D09 2 2

J10 3 5 3

??

6

Business valuation

12%

Valuation issues DGM PE Ratio PV of FCF Valuation of debt EMH

D07 5 4 2

J08 4 3

D08

J09 4

D09 3

J10 7

??

3

2

6 8

5

4

9

Risk management

7%

D07 Currency risk Reasons for exchange rate fluctuation Hedging currency Interest rate Reasons for interest rate fluctuation Hedging techniques Interest rates

J08

D08

J09

D09 4

J10

??

8

14 3

8

4

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