Financial Management (FM)

About ACCA

The Association of Chartered Certified Accountants (ACCA) is a fast growing global professional accountancy body with over a 100 years of experience and consisting of 425,000 students and members in over 170 countries. Both its reputation and influence are respected worldwide by employers, governments and profession itself. 
The ACCA Qualification is one of the most highly respected and valued qualifications available internationally. Gaining such a qualification is evidence that the holder possesses skills and knowledge which are in high demand by employers in industry, banking, auditing, consulting as well as other professions like taxation and law. The ACCA Program is most suitable for those that aspire to become professionals in any sector of business. University graduates of any discipline can join the program. No previous knowledge of accounting or finance is required.


Course Description

The aim of this course is to develop the knowledge and skills expected of a finance manager, in relation to investment, financing, and dividend policy decisions.


Course objectives

After successful completion of this course, candidates should be able to:

    • Discuss the role and purpose of the financial management function;
    • Assess and discuss the impact of the economic environment on financial management;
    • Discuss and apply working capital management techniques;
    • Carry out effective investment appraisal;
    • Identify and evaluate alternative sources of business finance;
    • Discuss and apply principles of business and asset valuations;
    • Explain and apply risk management techniques in business.                        


    Topics we will cover:

    • Financial management function: The nature and purpose of financial management, Financial objectives and relationship with corporate strategy; Stakeholders and impact on corporate objectives; Financial and other objectives in not-for-profit organisations;
    • Financial management environment: The economic environment for business; The nature and role of financial markets and institutions;
    • Working capital management: The nature, elements and importance of working capital; Management of inventories, accounts receivable, accounts payable and cash; Determining working capital needs and funding strategies;
    • Investment appraisal: The nature of investment decisions and the appraisal process; Non-discounted cash flow techniques; Discounted cash flow (DCF) techniques; Allowing for inflation and taxation in DCF; Adjusting for risk and uncertainty in investment appraisal; Specific investment decisions (lease or buy; asset replacement, capital rationing);
    • Business finance: Sources of, and raising short-term finance; Sources of, and raising long-term finance; Internal sources of finance and dividend policy; Gearing and capital structure considerations ; Finance for Small and Medium-size Entities (SMEs); Islamic Finance;
    • Cost of capital: Sources of finance and their relative costs; Estimating the cost of equity; Estimating the cost of debt and other capital instruments; Estimating the overall cost of capital; Capital structure theories and practical considerations; Impact of cost of capital on investments;
    • Business valuations: Nature and purpose of the valuation of business and financial assets; Models for the valuation of shares; The valuation of debt and other financial assets; Efficient market hypothesis (EMH) and practical considerations in the valuation of shares;
    • Risk management: The nature and types of risk and approaches to risk management; Causes of exchange rate differences and interest rate fluctuations; Hedging techniques for foreign currency risk; Hedging techniques for interest rate risk.    


    Certificate

    • At the end of the course students will be able to pass the international exam of Financial Management organized by ACCA.
    • Course Language:  English
    • Course Duration: 50 hours
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