July 31, 2014
The syllabus for ACCA F9, Financial Management, is designed to equip candidates with the
skills that would be expected from a finance manager responsible for the finance function of
It prepares candidates for more advanced and specialist study in ACCA P4, Advanced
Financial Management. The syllabus, therefore, starts by introducing the role and purpose
of the financial management function within a business. Before looking at the three key
financial management decisions of investing, financing, and dividend policy, the syllabus
explores the economic environment in which such decisions are made.
The next section of the ACCA F9 syllabus is the introduction of investing decisions. This
is done in two stages – investment in (and the management of) working capital and the
appraisal of long-term investments. The next area introduced is financing decisions. This
section of the syllabus starts by examining the various sources of business finance, including
dividend policy and how much finance can be raised from within the business. It also looks
at the cost of capital and other factors that influence the choice of the type of capital a
business will raise.
The principles underlying the valuation of business and financial assets, including the
impact of cost of capital on the value of business, is covered next. The syllabus finishes
with an introduction to, and examination of, risk and the main techniques employed in the
management of such risk.
Download: ACCA F9 Syllabus
The syllabus is assessed by a three-hour paper based examination. All questions are
compulsory. It will contain both computational and discursive elements. Some questions will
adopt a scenario/case study approach.
Section A of the exam comprises 20 multiple choice questions of 2 marks each. Section B of
the exam comprises three 10 mark questions and two 15 mark questions. The two 15 mark
questions will come from working capital management, investment appraisal and business
finance areas of the syllabus. The section A questions and the other questions in section B
can cover any areas of the syllabus.
Candidates are provided with a formulae sheet and tables of discount and annuity factors.