Sheet1KaplanInvestment Appraisal: NPV with Inflation and Taxation IRRWorking Capital Management:Cash operating cycle Receivables management Payables management or Inventory managementValuations: PE ratio Dividend valuation methods Cash flow based values Efficient market hypothesisBusiness Finance: Financial Ratios (Interpretation) Cost of CapitalRisk Management: Foreign Exchange RiskFinancial Management Function and EnvironmentBppSection A20 multiple choice questions worth 2 marks each. The MCQs will largely be knowledge based and will balance out the questions in Section B to make sure that all aspects of the syllabus are examined. It is likely that some of the MCQs will test the financial management and objectives (ratio analysis, the concept of shareholder wealth) as well as economic environment and financial institutions topics (financial intermediation, fiscal and monetary policies). The efficient market hypothesis is likely to be tested here too.But bear in mind that the whole point of setting MCQs is to test good coverage of the syllabus in the exam.Section BQ1 Q3: Three 10 mark questions. The questions will be broken down into sub requirements and may also be based on a short scenario.Areas expected to be tested in questions 1 to 3 working capital management (the impact of a change in credit period or accepting a factors offer), business or security valuations (assets method and earnings valuation), financial risk management (most likely in the form of currency risk but it is possible that interest rate risk is examined here).Q4 & Q5: Two 15 mark questions which will be broken down into sub requirements and be scenario based. These two questions will focus on these topics investment appraisal (likely to be an NPV with inflation and tax), working capital management and business finance (either an evaluation of financing options interest coverage and gearing ratios are likely to be important here or a cost of capital calculation are most likely). Whichever of these three topics does not feature in question 4 or 5 will appear in question 1, 2 or 3.F9 has the following syllabus areas:A Financial management functionB Financial management environmentC Working capital managementD Investment appraisalE Business financeF Business valuationsG Risk managementLsbf Calculating cost of equity using CAPM or dividend valuation model, cost of redeemable debt and bank loan/preference shares. Circumstances under which WACC can be used. Calculation of NPV. Discussion question on risk and uncertainty example sensitivity analysis and probability distribution. Quantity discount (EOQ) and factoring calculations. Discussion of working capital financing and/or investment policies. Factors to consider in formulating dividend policy or the effect of a change in dividend policy on share price. Valuation of equity using; DVM, P/E ratio and asset basis. Valuation of convertible debt and calculation of conversion premium. Explanation of weak and strong form of efficient market. Hedging currency risk using forward contract and money market hedge. Discussion of transaction, economic and translation risk.First Institution Discussion of the economic environment and the impact on interest and exchange rates. Working capital management. Investment appraisal and cost of capital. Business valuations.OpenTuitionSection A:20 MCQs from throughout the syllabusSection B:5 questions: Management of receivables Valuation of business (using PE ratio, and using dividend valuation model) Investment appraisal NPV calculation (plus capital rationing) WACC calculation (including CAPM) Gearing (financial and operational)Beckers Professional NPV IRR. Debt factoring. Dividend policy. Project-specific cost of equity.

Sheet2KaplanInvestment AppraisalNPV with Inflation and TaxationKaplanInvestment AppraisalIRRKaplanWorking Capital ManagementCash operating cycleKaplanWorking Capital ManagementReceivables managementKaplanWorking Capital ManagementPayables management or Inventory managementKaplanValuationsPE ratioKaplanValuationsDividend valuation methodsKaplanValuationsCash flow based valuesKaplanValuationsEfficient market hypothesisKaplanBusiness FinanceFinancial Ratios (Interpretation)KaplanBusiness FinanceCost of CapitalKaplanRisk ManagementForeign Exchange RiskKaplanFinancial Management Function and EnvironmentBPPWorking Capital ManagementThe impact of a change in credit periodBPPWorking Capital ManagementAccepting a factors offeBPP business or security valuations(assets methodBPP business or security valuationsearnings valuationBPP financial risk managemencurrency riskBPP financial risk managemeninterest rate risk BPPInvestment AppraisalNPV with Inflation and TaxationBPPworking capital management and business finance an evaluation of financing options BPPworking capital management and business financecost of capital calculation are most likelyFirst InstitutionFinancial Management Function and Environmentthe economic environment and the impact on interest and exchange ratesOpenTuitionWorking Capital ManagementManagement of receivablesOpenTuitionValuationsPE ratio, and using dividend valuation modelOpenTuitionInvestment AppraisalInvestment appraisal NPV calculation (plus capital rationing)OpenTuitionCost of capitalWACC calculation (including CAPM)OpenTuitionGearing (financial and operational) cost of equity using CAPM or dividend valuation model, cost of redeemable debt and bank loan/preference shares. Circumstances under which WACC can be usedBPPSurely testedStrategy Lenses and approaches to strategyBPPSurely testedMission, Culture and EthicsHocBPPSurely testedCritical success factors and KPIsBPPSurely testedRole of the corporate parent including BCG matrix/AshridgeBPPSurely testedPeople, leadership, job design and staff developmentBPPNew AreaIntegrated ReportingBPPNew AreaChange management frameworks (POPIT and the business change lifecycle) andBPPNew AreaOrganisational Configuration new definitions: Boundary-less organisations, Outsourcing vs. Offshoring, Hollow and Modular structuresLsbfStrategic analysis (external in particular).LsbfCalculation and interpretation of basic financial ratios.LsbfUsing the SFA model to evaluate strategic options.LsbfImproving business processes using IT (and the IT controls required).LsbfMaking staff more efficient and effective.LsbfThe Business Change lifecycle (including the POPIT approach).HocFirst InstitutionPESTEL, 5 Forces, resourcesFirst InstitutionJob designHocFirst InstitutionIT securityFirst InstitutionActivity based costingFirst InstitutionIntegrated reportingHocFirst InstitutionCultureHocBeckersExternal analysis, using PESTEL or Porters 5 Forces.BeckersStrategic resources or critical success factors.BeckersCultural web.BeckersE-business, probably involving upstream supply chain management.BeckersProject management monitoring or concluding a project.HocBeckersFinance decisions eg raising finance.First InstitutionSection AEnvironmental analysis, people with financial analysisFirst InstitutionSection BProject management.HocFirst InstitutionSection BStrategic action.First InstitutionSection BInformation technology - pricing strategy