Financial Management

Financial management function: Introduction, 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 organizations Financial management environment: Economic environment for business; nature and role of financial markets, institutions and money market

Working Capital Management: Introduction, 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: Investment appraisal techniques; Allowing for inflation and taxation in investment appraisal Adjusting for risk and uncertainty in investment appraisal; Specific investment decisions (lease or buy; asset replacement, capital rationing)

Business finance: Sources of and raising business finances, there relative costs; Estimating the cost of capital, Capital structure theories and practical considerations; Finance for small and medium-sized entities

Business valuations: Nature and purpose of the valuation of business and financial assets; Models for the valuation of shares; valuation of debt and other financial assets; Efficient market hypothesis (EMH) and practical considerations in the valuation of shares

Risk management: 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 and interest rate risk