ACCA2011年6月份考试大纲(F9)(13)

　　随着ACCA2010年12月份考试的结束,考生正式进入ACCA2011年6月份的考试备考当中,为帮助广大考生迅速掌握考试要点,定位好备考重点,正保会计网校本着服务广大考生、努力让广大考生的复习、备考事半功倍的宗旨,将陆续公布2011年6月份ACCA考试大纲和学习指南,以飨考生！该大纲和学习指南旨在帮助考生规划学习,并为每一部分的考点提供详细的信息.

　　G BUSINESS VALUATIONS

　　1.Nature and purpose of the valuation of business and financial assets

　　a)Identify and discuss reasons for valuing businesses and financial assets.^[2]

　　b)Identify information requirements for valuation and discuss the limitations of different types of information.^[2]

　　2.Models for the valuation of shares

　　a)Asset-based valuation models,including:^[2]

　　i)net book value(statement of financial position basis).

　　ii)net realisable value basis.

　　iii)net replacement cost basis.

　　b)Income-based valuation models,including:^[2]

　　i)price/earnings ratio method.

　　ii)earnings yield method.

　　c)Cash flow-based valuation models,including:^[2]

　　i)dividend valuation model and the dividend growth model.

　　ii)discounted cash flow basis.

　　3.The valuation of debt and other financial assets

　　a)Apply appropriate valuation methods to:^[2]

　　i)irredeemable debt

　　ii)redeemable debt

　　iii)convertible debt

　　iv)preference shares

　　4.Efficient Market Hypothesis(EMH)and practical considerations in the valuation of shares

　　a)Distinguish between and discuss weak form efficiency,semi-strong form efficiency and strong form efficiency ^[2]

　　b)Discuss practical considerations in the valuation of shares and businesses,including:^[2]

　　i)marketability and liquidity of shares

　　ii)availability and sources of information

　　iii)market imperfections and pricing anomalies

　　iv)market capitalisation

　　c)Describe the significance of investor speculation and the explanations of investor decisions offered by behavioural finance ^[1]