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F9 Financial Management

Past Paper Analysis

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Overall Analysis

Discussion 52%

Computation 48%

F9 Financial management

Marks by syllabus areas

%

6

Financial management function

1

Financial management environment

22

Working capital management

22

Investment appraisal

19

Business finance

12

Cost of capital

12

Business valuation

7

Risk management

100

Financial management function

6%

 

D07

J08

D08

J09

D09

J10

??

Introduction

8

Financial

8

12

9

objectives

Stakeholders

not-for-profit

organisations

Financial management environment

 

1%

 

D07

J08

D08

J09

D09

J10

??

Economic

environment

Working capital management

22%

 

D07

J08

D08

J09

D09

J10

??

Working capital

3

10

21

4

Inventories

7

2

Accounts

7

6

8

11

8

receivable

Accounts

7

payable

Cash

6

5

13

WC funding

Investment appraisal

 

22%

 
 

D07

J08

D08

J09

D09

J10

??

Appraisal

7

5

process

Payback

4

ROCE

3

DCF

8

18

4

7

3

6

Applications

Tax

4

2

4

Inflation

5

5

4

4

3

4

Risk and

8

uncertainty

Lease or

11

buy

Asset

3

3

replacement

Capital

5

rationing

Business finance

19%

 

D07

J08

D08

J09

D09

J10

??

Short-term sources

6

Long-term sources

7

5

16

16

4

17

Dividend policy

5

7

2

Gearing and capital structure Financing for SMEs

7

8

5

2

4

Cost of capital

12%

 

D07

J08

D08

J09

D09

J10

??

Ke computations

9

2

2

2

3

Kd and Kp computations

6

1

4

WACC

4

3

4

2

5

Capital structure theory

6

Project specific discount

11

3

rates Impact of cost of capital on investments

6

Business valuation

D07

J08

D08

12%

J09

D09

J10

??

Valuation issues

5

DGM

4

4

4

3

7

PE Ratio

2

3

3

2

PV of FCF

Valuation of debt

6

4

9

EMH

8

5

Risk management

7%

 

D07

J08

D08

J09

D09

J10

??

Currency risk

4

Reasons for exchange rate fluctuation Hedging currency

8

14

8

Interest rate

3

Reasons for interest rate fluctuation Hedging techniques Interest rates

4