超实用accaf重要知识点讲解及考点分析精修订

超实用a c c a f重要知识点讲解及考点分析

SANY标准化小组 #QS8QHH-HHGX8Q8-GNHHJ8-HHMHGN#

超实用|ACCAF9重要知识点讲解及考点分析

考试题型

SectionA单选题2’*15

SectionB综合单选题10'(每题5道选择）*3 SectionC综合计算题20'*2

核心练习真题

DEC14-Mar/Jun16

Specimenpaper2016

Specimenpaper2014

A Financial management function

Part B Financial management environment

考试分布

Section A 单选题4-6道

考点类型

基本概念,注意理解，运用到scenario question；

ratio 小计算（TSR）

复习计划

Exam Kit &历年真题：选择题（Section A）

考点总结

1.讨论Financialmanagement & objective

Objectives ：

maximization of shareholder wealth VS accounting profit

计算能够反映盈利能力和对股东财富的影响的ratio

常见Ratio

1）Shareholder wealth

TSR

DPS, Dividend yield

EPS, P/E ratio

2）Financial performance：profitability

ROCE

ROE

2. 激励高管实现股东财富最大化的目标

a) Managerial reward schemes:

Performance-related bonus, share,shareoption

b) corporate governance

c) stock exchange market rule

3. Objective setting in not forprofitorganizations非盈利机构指标

value for money(Economy，Efficiency，Effetiveness)

1）财政政策Fiscal policy VS 货币政策monetary policy

3)政府干预competitionpolicy；government assistance；

green policies；corporate governanceregulation

4. 货币市场money VS 资本市场capitalmarkets

i) Role of financial intermediaries金融中介作用

ii) principal money market instruments主要的货币市场工具

Part C Working capitalmanagement

考试分布

Section A 单选题3-4道or Section A 单选题2道

Section B 综合单选题10分

Section C 综合计算题20分

考点类型

文字理论WC management，inventory,receivables, payables, cash管理工具计算

复习计划

Exam Kit &历年真题：选择题&计算题

考点总结

WC management

i) WC investment policy: aggressive/conservative

ii) central role of WC managment infinancialmanagement

iii) Factors determine the level ofworkingcapital investme nt

结合行业特征，公司working capital管理策略及operatingcycle

iv) working capital financing policy 融资策略

a)permanent andfluctuatingworking capital

b)Aggressive, Conservative,Matching

management 存货管理

i)计算EOQ & 讨论EOQassumption, disadvantage

ii) 计算Whether take Bulkpurchase discount：

cost vs benefit

iii)计算Inventory level:buffer inventory/re-

order level/averageinventory

iv) 讨论Just-in-time

应收账款管理

i)Calculate and discuss of offeringcashdiscount

ii)Calculate and discuss of factorservice:recourse VS non-recource

思考角度：cost VS benefit

iii) Factor considering to formulatereceivablepolicy 以及应收账款管理3个流程

Credit analysis system, Creditcontrolsystem，

Debt collectionsystem

management

i) cash balance status and investingchoice

ii) cash budget & forcast

iii) Baumol model and the Miller-Orr model

operating cycle

i) 计算ratio：

Inventorydays, receivable days,payable days, operating cycle Ratio analysis: current ratio, sales/networkingcapital, (ii) Cash flow budget

(iii) Overtrading and overcapitalization