ACCA学习资料-FM技术文章

ACCA FM财务管理是应用技能课程中的倒计时一门考试，其考试难度较其他应用技能课程要略高一些，历年来全球考试通过率仅有40%左右。

在学习这一科目时，我们不仅需要大量地进行试题练习，还应该按照考试大纲要求进行有重点的学习，并且多去了解考官文章，它们会为我们提供一定的考试方向。以下为正保会计网校为大家整理好的技术文章：

Financial Management (FM)

Dividend theory

Dividends and share price growth are the two ways in which wealth can be provided to shareholders. This article looks at some theories on dividend payments, as well as the practical matters that have to be taken into account and a discussion on dividend policies.

Behavioural finance

This article briefly looks at what behavioural finance is and some important terms related to behavioural finance which students should know.

Working capital management

This article covers the foundations of working capital management, a core area of the Financial Management syllabus, and focuses on the analysis of current assets and current liabilities. The topic can form part, or the whole of, a 20-mark question in the exam, as well as being examined by objective test questions.

Accounts receivable management

Section C2d) of the Financial Management Study Guide states that candidates should be able to ‘discuss, apply and evaluate the use of relevant techniques in managing accounts receivable’.

Hedging techniques for interest rate risk

This article looks at Section G of the Financial Management Study Guiderelating to the management of interest rate risk.

The capital asset pricing model – part 1

In the first of a three-part series of articles, we consider the CAPM and shows how it can be used to estimate the cost of equity, and introduces the asset beta formula.

The capital asset pricing model – part 2

This article describes how to apply the CAPM when calculating a project-specific discount rate to use in investment appraisal.

CAPM: theory, advantages, and disadvantages

In the final article in his three-part series, we look at the theory, advantages and disadvantages of CAPM.

Management of foreign accounts receivable

This article focuses on foreign accounts receivable, which present some additional challenges to a business that are not present with domestic-based customers.

Business finance for SMEs Also available as a podcast on iTunes

In this article, we consider potential finance sources that an SME could use, with a particular focus on the more modern sources of crowdfunding and supply chain financing.

Equivalent annual costs and benefits

The calculation of equivalent annual costs is a tool that can be used to assist in asset replacement decisions.

Business valuations

This article discusses the three broad approaches to business valuations – assets-based, and cash flow-based. 

Analysing the suitability of financing alternatives

This article suggests an approach for students to apply to a key area of the Financial Management syllabus before finishing with a worked example to demonstrate the technique discussed.

Introduction to Islamic finance

This article takes a look at Islamic finance, which has just been introduced to the Financial Management syllabus.

Business finance

Section E of the syllabus deals with business finance. This article covers types of finance, sources of finance and mix of finance.

Advanced investment appraisal

Investment appraisal is one of the core topics within Financial Management and it is a topic which has been well represented in the Financial Management exam.

Foreign currency risk and its management

A focus on the three types of currency risk – economic risk, translation risk and transaction risk.

Cost of capital, gearing and CAPM – part 1

A fundamental part of financial management is investment appraisal: into which long-term projects should put money? This is the first part of the article that looks at how a suitable discount rate can be calculated.

Cost of capital, gearing and CAPM – part 2

A fundamental part of financial management is investment appraisal: into which long-term projects should put money? This is the second part of the article that looks at how a suitable discount rate can be calculated.

Receivables collection

This article considers two methods could adopt in order to speed up the collection of cash from its customers.

Optimum capital structure

Is it possible to increase shareholder wealth by changing the capital structure.

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