课程简介
《财务管理（F9）》是会计学（ACCA）方向的专业核心课程。该课程主要讲述围绕财务管理的主要目标，企业如何做出投资决策、融资决策和股利分配决策，如何进行营运资本管理和企业估值；企业所处的经济环境和金融环境是什么样的，这些财务管理环境如何影响企业主要的财务决策；企业风险有哪些，这些风险是如何产生的以及怎样进行风险管理。
通过这门课的学习，学生能够掌握正确财务决策的原则和方法，熟悉企业财务管理环境及其对企业财务决策的影响，熟悉企业风险及相应管理方法。具体地，应该达到如下目标：理解财务管理的作用和目标，正确分析经济环境、金融环境对财务管理决策的影响；正确分析和应用营运资本管理技巧；能够进行有效的项目投资评价；能够识别并评价企业可供选择的融资来源；能够分析和应用企业及资产定价的原理；能够解释和应用企业风险管理的方法技巧。
在学习本课程以前，学生需先行学习《财务会计（F3）》、《管理会计（F2）》等相关课程。本课程也是后续《高级财务管理（P4）》课程重要的基础。
课程大纲
financial management function
1.1 nature and objectives of financial management
1.2 Stakeholders and impact on corporate objectives
1.3 objectives in not-for-profit organizations
financial management environment
2.1 macroeconomic objectives and economic policy
2.2 financial institutions and markets
working capital investment
4.1 nature,objectives and investment policy of working capital
4.2 measurement of working capital
4.3 overtrading
4.5 management of inventories
4.6 management of receivables 1
4.7 management of receivables 2
4.8 management of payables
cash and working capital funding policy
4.1 management of cash
4.2 working capital funding policy
investment appraisal techniques
5.1 basic investment appraisal techniques
5.2 discounted cash flow
5.3 DCF methods
allowing for taxation and inflation
6.1 relevant cash flow & impact of taxation
6.2 impact of inflation
6.3 NPV format
investment appraisal under risk and uncertainty
7.1 risk and uncertainty & sensitivity analysis
7.2 probability analysis & other techniques of adjusting for risk
specific investment decision
8.1 asset replacement & lease or buy
8.2 capital rationing
source of finance
9.1 source of finance 1
9.2 source of finance 2
9.3 islamic finance
9.4 finance for SMEs
dividend policy
10.1 dividend policy
cost of capital
11.1 cost of debt
11.2 cost of equity-DVM
11.3 cost of equity-CAPM
11.4 estimating WACC
capital structure
12.1operating gearing and financial gearing
12.2 capital structure theories
12.3 risk-adjusted WACC
business valuations
13.1 models for valuationof shares 1
13.2 models for valuationof shares 2
13.3 valuation of debt
13.4 market efficiency
foreign currency risk
14.1 exchange rate & types of foreign currency risk
14.2 causes of exchange rate fluctuation
14.3 foreign currency risk management 1
14.4 foreign currency risk management 2
14.5 foreign currency risk management 3
interest rate risk
15.1 types and causes of interet rate risk
15.2 interest rate risk management 1
15.3 interest rate risk management 2
1.1 nature and objectives of financial management
1.2 Stakeholders and impact on corporate objectives
1.3 objectives in not-for-profit organizations
financial management environment
2.1 macroeconomic objectives and economic policy
2.2 financial institutions and markets
working capital investment
4.1 nature,objectives and investment policy of working capital
4.2 measurement of working capital
4.3 overtrading
4.5 management of inventories
4.6 management of receivables 1
4.7 management of receivables 2
4.8 management of payables
cash and working capital funding policy
4.1 management of cash
4.2 working capital funding policy
investment appraisal techniques
5.1 basic investment appraisal techniques
5.2 discounted cash flow
5.3 DCF methods
allowing for taxation and inflation
6.1 relevant cash flow & impact of taxation
6.2 impact of inflation
6.3 NPV format
investment appraisal under risk and uncertainty
7.1 risk and uncertainty & sensitivity analysis
7.2 probability analysis & other techniques of adjusting for risk
specific investment decision
8.1 asset replacement & lease or buy
8.2 capital rationing
source of finance
9.1 source of finance 1
9.2 source of finance 2
9.3 islamic finance
9.4 finance for SMEs
dividend policy
10.1 dividend policy
cost of capital
11.1 cost of debt
11.2 cost of equity-DVM
11.3 cost of equity-CAPM
11.4 estimating WACC
capital structure
12.1operating gearing and financial gearing
12.2 capital structure theories
12.3 risk-adjusted WACC
business valuations
13.1 models for valuationof shares 1
13.2 models for valuationof shares 2
13.3 valuation of debt
13.4 market efficiency
foreign currency risk
14.1 exchange rate & types of foreign currency risk
14.2 causes of exchange rate fluctuation
14.3 foreign currency risk management 1
14.4 foreign currency risk management 2
14.5 foreign currency risk management 3
interest rate risk
15.1 types and causes of interet rate risk
15.2 interest rate risk management 1
15.3 interest rate risk management 2
