ACCA2011年6月份考试大纲(F9)(6)

　　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。

　　DETAILED SYLLABUS

　　A Financial management function

　　1.The nature and purpose of financial management

　　2.Financial objectives and relationship with corporate strategy

　　3.Stakeholders and impact on corporate objectives

　　4.Financial and other objectives in not-for-profit organisations

　　B Financial management environment

　　1.The economic environment for business

　　2.The nature and role of financial markets and institutions

　　C Working capital management

　　1.The nature,elements and importance of working capital

　　2.Management of inventories,accounts receivable,accounts payable and cash

　　3.Determining working capital needs and funding strategies

　　D Investment appraisal

　　1.The nature of investment decisions and the appraisal process

　　2.Non-discounted cash flow techniques

　　3.Discounted cash flow(DCF)techniques

　　4.Allowing for inflation and taxation in DCF

　　5.Adjusting for risk and uncertainty in investment appraisal

　　6.Specific investment decisions(lease or buy;asset replacement,capital rationing)

　　E Business finance

　　1.Sources of,and raising short-term finance

　　2.Sources of,and raising long-term finance

　　3.Raising short and long term finance through Islamic financing

　　4.Internal sources of finance and dividend policy

　　5.Gearing and capital structure considerations

　　6.Finance for Small and Medium-size Entities(SMEs)

　　F Cost of capital

　　1.Sources of finance and their relative costs

　　2.Estimating the cost of equity

　　3.Estimating the cost of debt and other capital instruments

　　4.Estimating the overall cost of capital

　　5.Capital structure theories and practical considerations

　　6.Impact of cost of capital on investments

　　G Business valuations

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

　　2.Models for the valuation of shares

　　3.The valuation of debt and other financial assets

　　4.Efficient market hypothesis(EMH)and practical considerations in the valuation of shares

　　H Risk management

　　1.The nature and types of risk and approaches to risk management

　　2.Causes of exchange rate differences and interest rate fluctuations

　　3.Hedging techniques for foreign currency risk

　　4.Hedging techniques for interest rate risk