ACCA F9 Sources of finance financeskul

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This is the 1st video in the series of Five [5] covering section E of ACCA’s F9 – Financial Management consisting of: • 1. Sources of, and raising, business finance • 2. Estimating the cost of capital • 3. Sources of finance and their relative costs • 4. Capital structure theories and practical considerations • 5. Finance for small- and medium-sized entities (SMEs) • Watch full playlist here: • • FM [F9] | E: Business finance • Download ACCA F9 2022 - 20233 Syllabus here: https://www.accaglobal.com/in/en/stud... • _____________________________________________________________________________________ • On successful completion of this video, you will be able to: • 1. Sources of, and raising, business finance • a) Identify and discuss the range of short-term sources of finance available to businesses, including: • i) Overdraft • ii) Short-term loan • iii) Trade credit • iv) Lease finance. • b) Identify and discuss the range of long-term sources of finance available to businesses, including: • i) Equity finance • ii) Debt finance • iii) Lease finance • iv) Venture capital. • c) Identify and discuss methods of raising equity finance. • d) Identify and discuss methods of raising short- and long-term Islamic finance, including: • i) Major differences between Islamic finance and the other forms of business finance. • ii) The concept of riba (interest) and how returns are made by Islamic financial securities. • iii) Islamic financial instruments available to businesses including: • e) Identify and discuss internal sources of finance, including: • i) Retained earnings • ii) Increasing working capital management efficiency • iii) The relationship between dividend policy and the financing decision • iv) The theoretical approaches to, and the practical influences on, the dividend decision, including legal constraints, liquidity, shareholder expectations and alternatives to cash dividends. • 2. Estimating the cost of capital • a) Estimate the cost of equity including: • i) Application of the dividend growth model, its assumptions, advantages and disadvantages. • ii) Explanation and discussion of systematic and unsystematic risk • iii) Relationship between portfolio theory and the capital asset pricing model (CAPM) • iv) Application of the CAPM, its assumptions, advantages and disadvantages. • b) Estimating the cost of debt: • i) Irredeemable debt • ii) Redeemable debt • iii) Convertible debt • iv) Preference shares • v) Bank debt. • c) Estimating the overall cost of capital. • 3. Sources of finance and their relative costs • a) Describe the relative risk-return relationship and the relative costs of equity and debt. • b) Describe the creditor hierarchy and its connection with the relative costs of sources of finance. • c) Identify and discuss the problem of high levels of gearing. • d) Assess the impact of sources of finance on financial position, financial risk and shareholder wealth using appropriate measures, including: • i) Ratio analysis using statement of financial position gearing, operational and financial gearing, interest coverage ratio and other relevant ratios • ii) Cash flow forecasting • iii) Leasing or borrowing to buy. • e) Impact of cost of capital on investments. • 4. Capital structure theories and practical considerations • a) Describe the traditional view of capital structure and its assumptions. • b) Describe the views of Miller and Modigliani on capital structure, both without and with corporate taxation, and their assumptions. • c) Identify a range of capital market imperfections and describe their impact on the views of Miller and Modigliani on capital structure. • d) Explain the relevance of pecking order theory to the selection of sources of finance. • 5. Finance for small- and medium-sized entities (SMEs) • a) Describe the financing needs of small businesses. • b) Describe the nature of the financing problem for small businesses in terms of the funding gap, the maturity gap and inadequate security. • c) Explain measures that may be taken to ease the financing problems of SMEs, including the responses of government departments and financial institutions. • d) Identify and evaluate the financial impact of sources of finance for SMEs. • • Subscribe to this channel / @financeskul • _____________________________________________________________________________________ • Transcript: • Full course with topic by topic practical questions and smart notes, send I need full course to: • Email: [email protected] • Tags: • #acca course • #acca f5 • #acca f6 • #acca f7 • #acca f8 • #acca f9 • #acca SBL • #acca SBR • #acca APM • #acca AFM • #acca ATX • #acca AAA • #cima course • #cma exam • #accountancy • #cpa exam

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