任务制2.0网课-mike11知识模块introduction of f

F9FinancialManagement

Formatofthepaper

Riskmanagement(G)

Businessvaluations(F)

Financialmanagementfunction

(A)

Financialmanagementenvironment(B)

Workingcapitalmanagement(C)

Investmentappraisal(D)

Businessfinance(E)

Formatofthepaper

SectionAandBquestionswillbeselectedfromtheentire

syllabus.

SectionCquestionswillmainlyfocusonthefollowingsyllabusareasbutaminorityofmarkscanbedrawnfromanyotherareaofthesyllabus

Workingcapitalmanagement(syllabusareaC)

Investmentappraisal(syllabusareaD)

Businessfinance(syllabusareaE)

PartAFinancialmanagementfunction

Financialmanagementandfinancialobjectives

PartBFinancialmanagementenvironment

Theeconomicenvironmentforbusiness

Financialmarkets,moneymarketsandinstitutions

PartCWorkingcapitalmanagement

Workingcapital

Managingworkingcapital

Workingcapitalfinance

PartDInvestmentappraisal

Investmentdecisions

InvestmentappraisalusingDCFmethods

Allowingforinflationandtaxation

Projectappraisalandrisk

Specificinvestmentdecisions

PartEBusinessfinance

Sourcesoffinance

Dividend

Gearingandcapitalstructure

Thecostofcapital

Capitalstructure

PartFBusinessvaluations

Businessvaluations

Marketefficiency

PartGRiskmanagement

Foreigncurrencyrisk

Interestraterisk

Statementoffinancialpositionextracts

2011

2010

$000

$000

$000

$000

Non-currentassets

15,284

14,602

Currentassets

Inventory

2,149

1,092

Tradereceivables

3,200 1,734

5,349

2,826

Totalassets

20,633

17,428

Currentliabilities

Tradepayables

2,865

1,637

Overdraft

1,500

250

4,365

1,887

Equity

Ordinaryshares

8,000

8,000

Reserves

4,268

3,541

\

12,268

11,541

Long-termliabilities

7%Bonds

4,000

4,000

Totalliabilities

20,633

17,428

课程设计

F9课程本身的特点：每个模块独立性强！

所以课程设计按照考纲模块划分为7个部分。每个部分我根据

和 考题编制讲义 教授大家。大家跟随 学习。课后必须对讲义中（我已教授的习题）进行复习，文字题反复看理解记住

，计算部分必须要能够脱离答案独立完成。这样就已经基

本符合了通过（保守说飘过）考试的标准。

每个模块结束都有相应的选择题！

课程设计-知识模块

PartAFinancialmanagementfunction

PartCWorkingcapitalmanagement

PartDInvestmentappraisal

PartEBusinessfinance

PartFBusinessvaluations

PartGRiskmanagement

PartBFinancialmanagementEnvironment应试版

F9选修课

F9Article

课程设计-F9选修课

DemandandSupply ysis:Introduction

ConsumerDemand

FirmandMarket

Macroeconomic ysis

Businesscycles

Monetary

Fiscal

EconomicsinGlobalContext

CurrencyExchangeRate

EquityInvestment

Derivatives

课程设计-练习模块

Part1选择题

Part2Workingcapitalmanagement

Part3Investmentappraisal

Part4Businessfinance&Valuation

Part5Riskmanagement

Discusstheobjectivesofworkingcapitalmanagement(4mark)

Theobjectivesofworkingcapitalmanagementareusually

takentobeprofitabilityandliquidity.

Profitabilityisalliedtothefinancialobjectiveof isingshareholderwealth,whileliquidityisneededinordertosettleliabilitiesastheyfalldue.A musthavesufficientcashtomeetitsliabilities,sinceotherwiseitmayfail.

(a) Discussthereasonswhysmallandmedium-sizedentities(SMEs)mightexperienceless betweentheobjectivesofshareholdersanddirectorsthanlargelistedcompanies.(4marks)

betweentheobjectivesofshareholdersanddirectorsinalisted isassociatedwiththeagencyproblem,whichhasthreemaincauses.

First,theobjectivesofshareholdersanddirectorsmaybedifferent.

（self-interest）

Second,thereisasymmetryofinformation,sothatshareholdershaveaccesstolessinformationaboutthethandirectors,makingithardforshareholderstomonitortheactionsanddecisionsofdirectors.

Third,thereisaseparationbetweenownershipandcontrol,asshareholdersanddirectorsaredifferentpeople.

听课提示

以前教P阶段，我最喜欢抱怨的一句话。

2016年09月 对F9的影响

资料？？？

Formatofthepaper

Theexamisathree-hourpaperdividedintotwosections.SectionAconsistsof20multiplechoicequestionsoftwomarkseach.Thesequestionscanbeonanypartofthesyllabus.

SectionBconsistsofthreequestionsof10markseachandtwoquestionsof15markseach.The10-markquestionscanbeonanypartofthesyllabus.The15-markquestionswillcovertwoofPartsC,DandEofthesyllabus.Allquestionsarecompulsory.InSectionB,answerstothequestionswillrequireamixtureofcalculationsanddiscussion.

Youalsohave15minutesforreadingand nning.

Theexamwillcoverasmuchofthesyllabusaspossible.

2014/06Q2

(a)Ex in‘riskappetite’and‘riskawareness’,anddiscusshowBob’sriskappetitemightaffecthischoiceofinvestments.(8marks)

Choiceofinvestments

IfBobisgenerallyriskaverse,hewillseekoutinvestmentswhichhavelowlevelsofuncertaintyandpredictablelevelsofreturn.The‘price’ofthiscertaintyisusuallyalowerreturnovertimethanamoreriskyinvestment.

Typicallower-riskinvestmentsare bonds(long-termloanstoa atanagreedrateofinterest)or,presumedtobeevenlowerrisk, ernmentbonds.Theseareissuedwhenacountry’snationaldebtisfinancedbyindividualloansatanagreedannualrateoverafixednumberofyears.

Choiceofinvestments

IfBobisgenerallyriskseeking,itislikelyhewantsgreaterreturnsandispreparedtobearahigherriskinordertoachievethem.Hewillaccordinglyseekoutinvestmentswhichhavegreaterlevelsofuncertaintyandmorevolatilelevelsofreturn.

Thesearelikelytobesharesincompaniesincomplexormoreturbulentenvironments,possiblylessdiversified,andwithapossibilityofsubstantiallossaswellascapitalgrowth.

Choiceofinvestments

Largercompanieswithdiversified