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Study Guide
ACCA F9

In this guide you will find:

OpenTuition provides all the study resources you need
to enable you to pass Paper F9 – all free of charge. The structure of the F9 exam

This short document details how to make use of How to use the Study
OpenTuition and provides a study programme to make Programme

sure that you pass!

Detailed F9 Study Guide
 What is Paper F9 and
how is it examined?
For an explanation of the
nature of the subject and how
it is examined, first watch our
Introductory Lecture.

The two key elements to

success are:

Learning and Practice

Learning:

We provide a complete free course

of on-line lectures covering
everything you need for the exam,
together with free downloadable
Lecture Notes to be used while
watching the lectures.
You should watch all of the lectures We provide a complete free course
in the order given in the programme
attached and work through the
examples in the Lecture Notes as
the tutor works through and explains In addition you will find in the
them in the lectures. attached study programme details of
Section C type questions to attempt
Our tutors are all UK qualified from recent exams. You can find
accountants and have all been these questions either free of charge
training accountancy students for on the ACCA website
over 30 years. (www.accaglobal.com) or in a
Revision/Exam Kit purchased from
one of the ACCA approved
publishers.
Practice:

It is vital to practice as many exam- (To explain the coding used: “D10Q1”
standard questions as possible. For means Question 1 from the December
most of the chapters in the Lecture 2010 exam. “J11Q2” means Question 2
Notes there are short on-line tests of from the June 2011 exam)
multiple-choice questions of the type
in Sections A and B of the exam.
Once you have watched the lectures
for a particular chapter, you should
attempt the test questions and check
your answers.
 Additional resources How to use the Study
OpenTuition also provides additional
Programme
resources - again, all free of charge -
Work through each chapter of the Lecture
including the following:
Notes in the order listed, watching the
lectures that are linked alongside the
A timed on-line test of multiple- chapters.
choice questions in the style of
Section A of the exam. Questions Those chapters that do not have a lecture
are selected at random from a attached do not involve calculations and are
large bank of questions, so every for you to read yourself.
time you attempt the test you are
likely to be asked different When you have completed a chapter and
questions. watched all of the corresponding lectures,
then attempt the online test of Section A and
A Paper F9 forum where you can B type questions for that chapter, and then
ask for help from (and give help to) attempt the Section C type questions that
other students on anything to do are listed.
with the exam.
Some past Section C type questions test
A Paper F9 Ask the Tutor forum more than one topic – they are listed in the
when you can get help directly Study Programme after all topics have been
from the tutor responsible for F9. covered in the lectures. It is therefore
important that you work through the
Additional lectures working through chapters in order.
past exam papers - ‘Revision Kit
Live’ You will find that some of the Section C type
past questions were for 20 or 25 marks. It is
because the format of the exam used to be
different (they are now both 20 marks). Also,
the two questions in Section C will come
from the working capital management,
investment appraisal and business finance
areas of the syllabus. However, the
knowledge required has not changed and so
all the listed questions are worth practicing.

Tick the check boxes as you work through

the programme, and remember to ask in the
Ask the Tutor Forum if you have any
problems.

To find all the resources available for

Paper F9 visit OpenTuition

Tick the check boxes as you work through

the programme
Study Programme
Chapter in free Lecture Notes Past exam questions to attempt Lecture / Tests Past
Notes exam
Qs
Tick when complete
1 Financial management objectives

2 The financial management environment D10Q2 part(c); J14Q3 part (d);

3 Management of working capital (1) J14Q2 parts (a),(b)&(c); M/J16Q1;

4 Management of working capital (2) - Specimen Q1;

Inventory

5 Management of working capital (3) - J11Q4 part (b); D11Q2; J13Q3 parts (a)
Receivables and payables and (b); D13Q3; J15Q3; S/D15Q2;
S16Q31

6 Management of working capital (4) - D14Q1; J12Q2; D12Q2;

Cash
7 Investment appraisal - methods

8 Relevant cash flows for DCF J11Q1 parts (a) and (b); D12Q1; D14Q4;
Specimen Q4; S/D15Q5; J13Q1;
D13Q1; S16Q31 part (a)

9 Discounted cash flow - further aspects J14Q1; J12Q1 parts (a) and (b); D13Q4
parts (a) and (b);
10 Investment appraisal under uncertainty D11Q1; J15Q5; M/J16Q5; J11Q1 part
(c); J12Q1 part (c)

11 Sources of finance - equity

12 Sources of finance - debt J14Q4; S/D15Q1;

13 Capital structure and financial ratios

14 Sources of finance - Islamic finance J12Q3 part (c); D13Q4; M/J16Q4 part
(c);

15 The valuation of securities - theoretical J13Q4; D14Q2; Specimen Q2; S/

approach D15Q4; M/J16Q3; M/J16Q4 (parts (a) &
(b))
16 The valuation of securities - practical D11Q4; D12Q4; J15Q2;
issues

17 The cost of capital Specimen Q5;

18 When (and when not!) to use the WACC D10Q4; D11Q3;

for investment appraisal
19 The cost of capital - the effect of D10Q2; J11Q2; J15Q4;
changes in gearing

20 Capital asset pricing model D12Q3: D14Q5; S16Q32 part (b)

21 CAPM and MM combined D10Q1; J12Q4; J13Q2; D13Q2; J14Q3;

22 Forecasting foreign currency exchange

rates

23 Foreign exchange risk management J11Q4 part (a); J12Q3; J13Q3; J14Q2;
D14Q3; Specimen Q3;

24 Interest rate risk management J15Q1; S/D15Q2; M/J16Q2;

25 The treasury function