Financial Management (FM)
Working capital management
This article covers the foundations of working capital management, a core area of the F9 syllabus, and focuses on the analysis of current assets and current liabilities. The topic can form part, or the whole of, a 20-mark question in the exam, as well as being examined by objective test questions.
Accounts receivable management
Section C2d) of the F9 Study Guide states that candidates should be able to ‘discuss, apply and evaluate the use of relevant techniques in managing accounts receivable’.
Hedging techniques for interest rate risk
This article looks at Section G of the F9 Study Guide relating to the management of interest rate risk.
The capital asset pricing model – part 1
In the first of a three-part series of articles, we consider the CAPM and its components, shows how it can be used to estimate the cost of equity, and introduces the asset beta formula.
The capital asset pricing model – part 2
This article describes how to apply the CAPM when calculating a project-specific discount rate to use in investment appraisal.
CAPM: theory, advantages, and disadvantages
In the final article in his three-part series, we look at the theory, advantages and disadvantages of CAPM.
Management of foreign accounts receivable
This article focuses on foreign accounts receivable, which present some additional challenges to a business that are not present with domestic-based customers.
Business finance for SMEs
Also available as a podcast on iTunes
In this article, we consider potential finance sources that an SME could use, with a particular focus on the more modern sources of crowdfunding and supply chain financing introduced to the F9 syllabus and examinable from September 2015.
Equivalent annual costs and benefits
The calculation of equivalent annual costs is a tool that can be used by companies to assist in asset replacement decisions.
This article discusses the three broad approaches to business valuations – assets-based, income-based, and cash flow-based.
Analysing the suitability of financing alternatives
This article suggests an approach for students to apply to a key area of the F9 syllabus before finishing with a worked example to demonstrate the technique discussed.
Introduction to Islamic finance
This article takes a look at Islamic finance, which has just been introduced to the F9 syllabus.
Section E of the syllabus deals with business finance. This article covers types of finance, sources of finance and mix of finance.
Advanced investment appraisal
Investment appraisal is one of the eight core topics within F9 and it is a topic which has been well represented in the F9 exam.
Foreign currency risk and its management
A focus on the three types of currency risk – economic risk, translation risk and transaction risk.
Cost of capital, gearing and CAPM – part 1
A fundamental part of financial management is investment appraisal: into which long-term projects should a company put money? This is the first part of the article that looks at how a suitable discount rate can be calculated.
Cost of capital, gearing and CAPM – part 2
A fundamental part of financial management is investment appraisal: into which long-term projects should a company put money? This is the second part of the article that looks at how a suitable discount rate can be calculated.
This article considers two methods a company could adopt in order to speed up the collection of cash from its customers.
Optimum capital structure
Is it possible to increase shareholder wealth by changing the capital structure.
Study support videos
Exam question 34a debrief
CBE question debrief video looks at question 34a from the F9 September 2016 exam. It covers investment appraisal.
Advice for students retaking exams
This video is about turning your exam fail into a pass at your next attempt. It suggests ways to reflect on where you went wrong, how to draw up an effective study plan, and practising exam questions.
How to attempt discursive requirements in Financial Management
This article highlights some important considerations for dealing with narrative Financial Management questions that will enable you to tackle discursive requirements in a structured way.
What you need to know about the multiple-choice questions (MCQs) in the paper-based exams for F4, F5, F7, F8 and F9 from December 2014.
Financial Management – examiner approach
A member of the F9 examining team outlines the structure of the financial management exam.
F9 – A guide to using the examiner’s reports
Guidance to help you if you are taking the F9 exam for the first time as this takes you through how to use the examiner’s reports as part of your revision phase as directed by the self-study guides. This document will help you to understand how you should be using the examiner’s reports to make the best use of them.
F9 – A guide to reflection for retake students
Guidance to help you if you are retaking the F9 exam as this takes you through the process of reflection using the examiner’s reports as directed in the retake guides. This document will help you to understand how you should be using the examiner’s reports to make the best use of them.