Acca Study Text: Level 3 Paper 3.2 - Financial Management (6/90)
One of a series of regularly updated Study Texts providing coverage of the examination of the Chartered Association of Certified Accountants (ACCA), this workbook covers the entire syllabus and includes numerous questions from past examinations with full suggested solutions. The text is fully revised to meet the requirements of the 1988 course ensuring that the student has a thorough understanding of the current practical methods used in making financial management decisions. A companion Practice and Revision Kit (principally comprising progressively arranged series of questions and solutions) is also available.
- Paperback | 620 pages
- 205 x 290mm
- 30 Jun 1990
- Bpp Professional Education
- BPP Publishing Ltd
- London, United Kingdom
- Revised edition
- Present value table, annuity table, index
Table of contents
Syllabus. Part 1 Financial objectives: long-term financial planning and corporate models. Part 2 Securities markets: the role and nature of the capital markets; putting a value to securities, efficient market hypothesis. Part 3 Sources of finance and capital structures: shares issues and loan capital issues, rights issues and the effect on share prices; retained earnings and dividend policy; finance from other sources; raising long and short term finance; return on equity investments and stock market ratios. Part 4 The firm's investment decision: capital expenditure decisions; NPV versus IRR - comparison of methods; asset replacement decisions; capital budgeting decisions and inflation; DCF - treatment of risk and uncertainty; taxation and DCF, lease or buy decisions; capital rationing. Part 5 The cost of capital and gearing: the costs of different sources of finance; the weighted average cost of capital; Modigliani and Miller - the effect of capital structure; adjusted Present Value method of project evaluation; portfolio theory; the Capital Asset Pricing Model. Part 6 External growth and divestment strategies: amalgamations, mergers and takeovers; valuation of listed and unlisted companies; management buyouts. Part 7 Financial structuring and control and reporting: financing and control of subsidiary companies; schemes of capitalization, financing overseas operations. Part 8 The management of working capital: working capital - introduction; the management of cash, stocks, debtors and creditors; other features of working capital management; foreign exchange risk management.