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ACCA FM (F9) - Financial Management
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FM Orientation Session for Dec 2026 Exams (1:04:25)
Cash Operating Cycle (17:27)
Cash Operating Cycle and The Financial Ratios (25:52)
Liquidity and Efficiency Ratios (22:28)
MCQ 41 - 42 Working Capital BPP Kit (12:39)
Net Present Value - NPV (25:38)
Sec C - Q 166 Pelta Co Inv Appraisal (59:23)
Quiz - Cash Management and Working Capital Finance Calculation
Instructions to Follow Before Starting Your Course
About Customized Study Planner (13:47)
Create Your Customized Study Plan
FM Standard Study Plan for December 2026 Attempt
F9 - Formula Sheet
F9 Important Technical Articles
Complete Notes
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. FM How to Begin (10:41)
1. Introduction to Syllabus (9:03)
2. Overview of Chapter 1 (25:14)
3. Introduction to Financial Management (14:58)
4. Financial Management Functions (9:31)
5. Dividend Decisions (19:12)
6. Corporate Objectives and Shareholders Wealth (33:20)
7. EPS Earnings Per Share (18:46)
8. Gearing and Impact of Gearing on EPS (24:04)
9. Overview of Ratio Analysis (8:47)
10. Profitability Ratios (15:04)
11. Liquidity and Efficiency Ratios (22:28)
12. Debt and Gearing Ratios (7:26)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Objectives of Financial Management- BPP Kit - MCQs - Q1β8 (37:05)
2. EPS and Growth Calculation - BPP Kit - MCQ 4 (27:12)
3. Shareholders Return & Ratios- BPP Kit - OTQ - ABC Co (36:56)
4. Financial management and objectives - BPP Kit - Theoretical MCQs (26:37)
Quiz - Financial management and Financial Objectives (Theory)
Quiz - Financial management and Financial Objectives (Calculation)
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Financial Management Environment (14:10)
2. Financial Intermediaries (15:06)
3. Financial Markets (6:06)
4. Capital and Money Markets (20:47)
5. Securitisation (12:16)
6. Sources of Finance (22:53)
7. Money Market Instruments (16:49)
8. Derivatives (31:42)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Monetary policy & Fiscal policy - BPP Kit - MCQs 21 - 26 (28:07)
2. Money market instruments - BPP Kit - MCQs 27 - 30 (21:25)
3. Securities & Fiscal policy - BPP kit - MCQs 31 - 34 (25:11)
QUIZ - Money Markets and Financial Markets
QUIZ - Financial management environment
FM Assignment 1 - The Financial Management Function
FM Assignment 1 Answers
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Working Capital Investment (19:14)
2. Cash Operating Cycle (17:27)
3. Cash Operating Cycle and The Financial Ratios (25:52)
4. Over Trading versus Over Capitalization (33:45)
5. Managing Inventories - Economic Order Quantity (39:56)
6. Order Quantity With Bulk Discount (23:32)
7. ROL - Re Order Level and Buffer Inventory (21:17)
8. JIT - Just in Time (12:53)
9. Introduction to Receivables Management (14:34)
10. Calculating Cost of Discount on Receivables and Payables (30:17)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Inventory reduction & Net Working Capital - BPP kit - MCQ 41 - 42 (12:39)
2. Working Capital Requirement & Debt Factoring - BPP Kit - MCQ 43, 45, 49, 52 (26:48)
3. Buffer Inventory - BPP Kit - MCQ 53 - ZAR Co. (7:24)
4. Cash Receipts - BPP kit - MCQ 56 - JP Co. (7:46)
5. Inventory ,Working Capital & Cash Flow impact - BPP kit - OTQ 66 - 70 (36:22)
6. Working Capital Ratios - BPP Kit - Sec C - Q 81 - Pumice Co. (59:39)
7. Working Capital - Factoring - ACCA Study Hub -Sec C - Q 39 - H Finance (30:18)
8. Working Capital and Forecast FS - BPP Kit - Sec C - Q 81 - APX Co. (29:29)
9. Cash Operating Cycle - BPP Kit - Sec C - Q 82 - Pengali (33:50)
10. Inventory Management - ACCA Study Hub - Sec C - Q 40 - Victory Co. (42:32)
11. Factoring and Invoice Discounting Extra Session (18:33)
Quiz - Working Capital Management
Quiz - Working Capital
QUIZ - Working Capital Investment (Theory)
QUIZ - Working Capital Investment (Calculation)
FM Assignment 2 - Working Capital Management
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Cash Flow and Working Capital Management (20:34)
2. Forecasting Cash Flow (28:21)
3. Cash Flow Forecasting and Uncertainties (28:12)
4. Treasury Management (13:12)
5. Cash Management Baumol Model (12:26)
6. Cash Management Miller Orr Model (16:33)
7. Investing Surplus Cash (7:38)
8. Working Capital Funding Strategies (18:23)
9. Standard Deviation and Variance (39:47)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Treasury & Cash Management Models - BPP Kit - MCQs 56-60 (27:50)
2. Inventory and Receivables Mgt - BPP kit - MCQs 76-80 (35:15)
3. Inventory & Receivables/Payables Mgt- BPP Kit - OTQ - Q71-75 - Gorwa Co. (14:30)
4. EOQ & Receivables Policy BPP Kit - Sec C - Q 83 - WQZ Co (41:15)
5. Cash Conversion Cycle & Ratios - BPP Kit - Sec C - Q 87 - CSZ Co - Part a (25:00)
6. Cash Conversion Cycle & Ratios - BPP Kit - Sec C - Q 87 - CSZ Co - Part b & c (35:03)
7. Cash Flow Forecasting & Miller-Orr Cash Mgt Model - BPP Kit - Sec C - Q 88 - Flit Co. (31:40)
8. Receivables Mgt & Debt Factoring - BPP Kit - Sec C - Q 89 - Widnor (23:58)
Quiz - Working Capital Finance
Quiz - Cash Management and Working Capital Finance Calculation
Working Capital Section C Commonly asked Theoretical Q n A
Quiz - Cash Management and Working Capital Finance Theory
FM Assignment 3 - Cash Management
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Investment Appraisal (32:44)
2. Relevant Cash Flows (25:27)
3. Payback Period Method (20:18)
4. ARR and ROCE (25:46)
5. Introduction to Discounted Cash Flow - DCF (9:14)
6. Shareholder Wealth Maximization and DCF (15:47)
7. Compounding and Discounting (31:31)
8. Discounting the Cash Flows - Example (19:56)
9. Discount Factors (5:36)
10. Annuity (14:58)
11. Annuity Examples Solved (18:47)
12. Perpetuities (13:48)
13. Net Present Value - NPV (25:38)
14. Net Present Value Further Explained (14:05)
15. IRR - Internal Rate of Return (26:03)
16. Assessment of DVF as Method of Investment Appraisal (16:29)
17. Non Conventional Cash Flows (5:25)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. ROCE & Pay back period - BPP Kit - MCQs 91-93 (27:14)
2. Relevant Cash Flows - BPP kit - MCQs 94-100 (6:26)
3. ROCE ,NPV, Pay back & IRR - BPP Kit - OTQ -Q 146-150 - Trecor Co. (28:39)
4. ROCE/ARR, Payback & Relevant Costing of Labor - BPP kit - MCQs 90-96 (23:59)
5. Annuity & Perpetuity - BPP Kit - MCQs 100-109 (41:30)
6. DCF ,NPV ,Tax Shields & Perpetuity Valuation - BPP Kit - Sec C - Q 160 - Degnis Co. (1:03:06)
7. Advanced Investment Appraisal - BPP Kit - Sec C - Q 166 - Pelta Co. (59:23)
QUIZ - Investment appraisal using DCF methods (Calculation)
Quiz - Investment Appraisal using DCF methods (Theory)
QUIZ - Investment Decision - Basic Techniques (Calculation)
Quiz - Investment Decision - Basic Techniques (Theory)
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Inflation and Taxation in Investment Appraisal (20:17)
2. Allowing for Inflation (30:59)
3. Allowing for Taxation (28:32)
4. Tax Allowable Depreciation TAD (33:45)
5. Treatment of Working Capital in Inv Appraisal (25:49)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Inflation and Taxation - BPP Kit - MCQs 110 - 112 (31:57)
2. Inflation and Taxation - BPP Kit - MCQs 112, 118, 120 (22:07)
3. Nominal and Real NPV -BPP Kit - Sec C - Q 161 - Pinks Co. (56:23)
4. Inv Appraisal (Inflation & Taxation) - BPP Kit - Sec C - Q 163 - Uftin Co. (50:06)
5. Adv NPV, Tax Allow Dep & Inflation - BPP Kit - Sec C - Q 254 - OKM Co. (01:03:10)
QUIZ - Investment appraisal with Inflation and taxation
QUIZ - Allowing For Tax, Working Capital And Inο¬ation (Theory)
Quiz - Allowing For Tax, Working Capital And Inο¬ation (Calculation)
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Project Appraisal and Risk (21:39)
2. Certainty Equivalents (05:55)
3. Probability Analysis and Discounted Payback (20:23)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Sensitivity Analysis - BPP Kit - MCQs 123-124 (28:59)
2. Inv App under Risk & Uncertainty - BPP Kit - Sec C - Q 162 - Cooper Co. (57:47)
3. NPV & Perpetuity Valuation -BPP kit - Sec C - Q 159 - Degnis Co. (38:57)
4. Risk-Adj NPV & Inflation Modeling - BPP Kit - Sec C - Q 164 - Vyxyn (53:30)
5. Sensitivity Analysis & Expected NPV - BPP kit - Sec C - Umunat Co. (25:20)
QUIZ - Project Appraisal & Risk (Calculation)
QUIZ - Project Appraisal & Risk (Theory)
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Overview of Specific Investment Decisions (9:09)
2. Introduction to Leases (15:03)
3. Lease or Buy Decisions (41:44)
4. Asset Replacement Decisions (23:54)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Lease or Buy without Tax - BPP Kit - Sec C - Q 155 - Melanie (33:18)
2. Lease or Buy with Tax - BPP Kit - Sec C - Q 157 - AGD Co. (28:31)
3. Lease or Buy Decision Analysis - BPP Kit - Q 158 - Dink Co. (49:29)
4. Replacement cycle - BPP Kit - Sec C - Clover Co. (17:37)
5. Capital Rat & Asset Replacement Cycle - BPP Kit - Sec C - Crocket Co. (39:44)
6. Expected NPV - BPP Kit - Sec C - Galle Co. (01:16:37)
7. Lease or Buy - BPP Kit - Sec C - Dink Co (37:35)
Investment Appraisal Section C Commonly asked Theoretical Q n A
QUIZ - Specific Investment Decisions
Test Your Understanding 1 - Investment Appraisal
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Sources of Finance (4:34)
2. Questions to Consider (11:26)
3. Short Term Sources of Finance - Overdraft (13:53)
4. Short Term Sources of Finance - Bank Loan (11:37)
5. Long Term Debt - Bank Loans (17:06)
6. Long Term Debt - Bonds (20:56)
7. Debt or Equity (14:24)
8. Ordinary Shares (27:21)
9. Preference Shares (17:22)
10. Stock & Bond Markets (15:42)
11. Obtaining Stock Market Listing (6:02)
12. Rights Issue (17:01)
13. Bonus Issues and Stock Split (13:33)
14. Islamic Finance (14:56)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Sources of Finance - BPP Kit - MCQs 166 - 170 (08:10)
2. Cost of Capital - BPP Kit - Sec C - Q 214 - Corfe Co. (1:00:04)
3. Share Pricing & TERP - BPP Kit - Sec C - Q 213 - LaForge Co. (51:26)
4. Sources of Fin ,Cap Structure & Div Policy Analysis - BPP Kit - Q 272 - Echo Co. (33:21)
5. Fin Opt ,Impact on EPS, Fin Gearing & Interest Cov - BPP kit - Spine Co. (28:45)
6. Rights Iss Pricing, TERP, and Loan Note Redemp - BPP Kit - Sec C - Bar Co. (25:45)
7. TERP & Value of Rights - BPP kit - Sec C - Tirwen Co. (34:31)
QUIZ - Sources of Finance
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Dividend Policy - Introduction (27:07)
2. Dividend Policy - Final (22:19)
3. Average Dividend Growth Calculation (05:08)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Dividend Policy - BPP Kit - MCQs 171 - 175 (18:56)
2. Dividend Policy & Share Valuation - BPP Kit - Sec C - Pavlon Co. (47:20)
QUIZ - Dividend Policy
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Cost of Capital (5:29)
2. Chapter Overview (8:26)
3. Risk and Reward (18:38)
4. Dividend Valuation Model (20:14)
5. Estimating the Growth (16:16)
6. Introduction to Capital Asset Pricing Model - CAPM (25:36)
7. Using CAPM to Calculate the Cost of Equity (29:27)
8. Cost of Irredeemable Debt (14:49)
9. Cost of Redeemable Debt (14:27)
10. Cost of Bank Loan and Preference Shares (2:56)
11. Cost of Convertibles (17:43)
12. Introduction to WACC (12:23)
13. Calculating WACC (26:34)
14. Beta Concept (23:56)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Cost of Capital - BPP Kit - OTQ 206-210 - IML Co. (24:28)
2. WACC - BPP Kit - Q221 - Tufa Co. (1:05:03)
3. WACC & project specific COE - BPP Kit - Q 216 - Fence co. (28:24)
4. WACC & Capital Structure Fin - BPP Kit - Q 220 - Dinla Co. (1:05:17)
5. WACC - Mar/June 2019 - Exam Question (29:07)
6. WACC & individual comp costs - BPP Kit - Sec C - Q 214 - Corfe Co. (1:00:43)
7. Cost of Capital & WACC - BPP Kit - Sec C - Q214 - AQR Co. (46:07)
8. After tax WACC - BPP kit - Sec C - Marble Co. (01:23:21)
QUIZ - The Cost of Capital (Calculation)
Quiz - The Cost of Capital (Theory)
QUIZ - Capital Structure 2 (Calculation)
QUIZ - The Cost of Capital 2 (Theory)
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Chapter Overview (10:48)
2. Introduction to Capital Structure (9:53)
3. Gearing and Financial Risk (23:58)
4. Advantages and Disadvantages of Debt Financing (16:28)
5. Gearing Ratios (17:38)
6. Operational Gearing (26:38)
7. How Much Debt is Appropriate (10:57)
8. Effect of Debt or Equity on EPS (26:33)
9. Traditional Theory of Capital Structure (14:30)
10. Modigliani & Miller Approach to Capital Structure (24:05)
11. Modigliani & Miller Approach Example (3:21)
12. Pecking Order Theory (6:25)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Capital Structure - BPP kit - MCQs 176 - 180 (36:08)
2. Gearing - BPP Kit - MCQs 181 - 183 (09:59)
3. Capital Structuring - BPP Kit - MCQs 192 - 195 (28:31)
4. Capital Structuring - BPP Kit - MCQs 195 - 200 (24:25)
5. Rights Issue, Debt Buyback, and Fin Risk Analysis - BPP Kit - Sec C - Q 211 - Bar Co. (56:12)
6. Cap Restructuring via Rights Issue & Debt Redemp - BPP Kit - Q 218 - Grenarp Co. (42:32)
7. WACC Calculation & Fin via Convertible Bonds - BPP Kit - Sec C - BKB Co. (53:53)
8. WACC, Capital Structure Theories & Sources of Fin - BPP Kit - Sec C - TANZA Co. (42:23)
9. Cap structure ,Ratios & Financing - BPP Kit - Sec C - Gamgee Co (01:14:28)
Business Finance and Cost of Capital Section C Commonly asked Theoretical Q n A
QUIZ - Gearing & Capital Structure (Theory)
Quiz - Gearing & Capital Structure (Calculation)
Test Your Understanding 2 - Business Finance and Business WACC
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Business Valuation - Introduction (12:40)
2. Asset Based Valuation (05:14)
3. Earnings (Income) Based Approach (26:32)
4. Cash Flow Based Valuation (34:04)
5. Valuation of Debt (28:25)
6. Types of Market Efficiency (58:46)
7. Valuation of Shares (21:04)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Valuation of Co. ,Net asset valuation & DVM - BPP Kit - MCQs 222 - 225 (43:12)
2. Market value of Co. - BPP Kit - MCQs - 226 - 231 (35:58)
3. Business Valuation - Kaplan Kit - Q 300 - THP Co. (53:11)
4. Business Val & Cap Market Efficiency - Kaplan kit - Sec C -Q 293 - Phobis Co. (30:12)
QUIZ - Business Valuation (Theory)
Quiz - Business Valuation (Calculation)
QUIZ - Market Efficiency & Behavioural Finance
Test Your Understanding 3 - Business Valuation
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Foreign Exchange Risk - Introduction (26:30)
2. Types of Risk (20:11)
3. Money Market Hedging (30:37)
4. Futures, Options and Swaps (19:11)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Cap Structure and Foreign Exchange Risk - BPP Kit - OTQs 282 - 286 - Rose Co. (42:00)
2. Foreign Exchange Risk - BPP Kit - OTQs 292 - 296 - ZIGTO Co. (17:24)
3. Exchange Rate Risk - OTQs 297 - 301 - PGT Co. (39:32)
4. Money market hedge & Forward market hedge - Sec C - Dec 07 - PKA Co. (10:46)
Risk Management Section C Theoretical Q n A
QUIZ - Foreign Currency Risk (Theory)
Quiz - Foreign Currency Risk (Calculation)
Sec B - Marigold Co
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Interest Rate Risk - Full Chapter (01:01:17)
2. SWAPS - Extra Lesson (20:43)
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Interest Rate Risk - OTQs 302 - 306 - TGA Co. (16:14)
2. Interest rate risk management - Sec B - Peony Co. (13:44)
QUIZ - Interest Rate Risk (Calculation)
Quiz - Interest Rate Risk (Theory)
Test Your Understanding 4 - Risk Management
FM Orientation Session for Dec 2026 Exams (1:04:25)
1. Section B - QSX co - Chapter 1 and 2 (30:05)
2. Section C Theory Questions - Chapter 1 and 2 (37:54)
3. Section C - Constant Co - Working Capital (43:10)
4. Section C Theory Questions - Working Capital (29:03)
5. Section C - Sep/Dec 2023 Practice Question (01:05:00)
Sec C - Business Valuation - Merlo Co (59:30)
Sec B - Q Marigold co (Foreign currency risk)
Working Caapital - Pre-December 2025 Mock Exam (26:28)
Sec C - Forux Co - Currency Risk Management (51:20)
Sec B - Q H Company (Interest rate risk management)
FM Past Paper March/June 2022
FM Past Paper Sept/Dec 2022
FM Past Paper March/June 2023
FM Past Paper Sept/Dec 2023
FM Past Paper March/June 2024
FM Past Paper Sept/Dec 2024
FM Past Paper Mar/Jun 2025
FM Past Paper Sep/Dec 2025
FM Past Paper March/June 2026
Try Before You Buy
FM Orientation Session for Dec 2026 Exams (1:04:25)
Preview
Cash Operating Cycle (17:27)
Preview
Cash Operating Cycle and The Financial Ratios (25:52)
Preview
Liquidity and Efficiency Ratios (22:28)
Preview
MCQ 41 - 42 Working Capital BPP Kit (12:39)
Preview
Net Present Value - NPV (25:38)
Preview
Sec C - Q 166 Pelta Co Inv Appraisal (59:23)
Preview
Quiz - Cash Management and Working Capital Finance Calculation
Preview
ACCA FM (F9) Resources
Instructions to Follow Before Starting Your Course
About Customized Study Planner (13:47)
Preview
Create Your Customized Study Plan
FM Standard Study Plan for December 2026 Attempt
F9 - Formula Sheet
F9 Important Technical Articles
Complete Notes
Chapter 1 - Financial management and financial objectives
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. FM How to Begin (10:41)
1. Introduction to Syllabus (9:03)
2. Overview of Chapter 1 (25:14)
3. Introduction to Financial Management (14:58)
4. Financial Management Functions (9:31)
5. Dividend Decisions (19:12)
6. Corporate Objectives and Shareholders Wealth (33:20)
7. EPS Earnings Per Share (18:46)
8. Gearing and Impact of Gearing on EPS (24:04)
9. Overview of Ratio Analysis (8:47)
10. Profitability Ratios (15:04)
11. Liquidity and Efficiency Ratios (22:28)
12. Debt and Gearing Ratios (7:26)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Objectives of Financial Management- BPP Kit - MCQs - Q1β8 (37:05)
2. EPS and Growth Calculation - BPP Kit - MCQ 4 (27:12)
3. Shareholders Return & Ratios- BPP Kit - OTQ - ABC Co (36:56)
4. Financial management and objectives - BPP Kit - Theoretical MCQs (26:37)
Quiz - Financial management and Financial Objectives (Theory)
Quiz - Financial management and Financial Objectives (Calculation)
Chapter 2 - Financial management environment
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Financial Management Environment (14:10)
2. Financial Intermediaries (15:06)
3. Financial Markets (6:06)
4. Capital and Money Markets (20:47)
5. Securitisation (12:16)
6. Sources of Finance (22:53)
7. Money Market Instruments (16:49)
8. Derivatives (31:42)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Monetary policy & Fiscal policy - BPP Kit - MCQs 21 - 26 (28:07)
2. Money market instruments - BPP Kit - MCQs 27 - 30 (21:25)
3. Securities & Fiscal policy - BPP kit - MCQs 31 - 34 (25:11)
QUIZ - Money Markets and Financial Markets
QUIZ - Financial management environment
FM Assignment 1 - The Financial Management Function
FM Assignment 1 Answers
Chapter 3 - Working Capital Management
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Working Capital Investment (19:14)
2. Cash Operating Cycle (17:27)
3. Cash Operating Cycle and The Financial Ratios (25:52)
4. Over Trading versus Over Capitalization (33:45)
5. Managing Inventories - Economic Order Quantity (39:56)
6. Order Quantity With Bulk Discount (23:32)
7. ROL - Re Order Level and Buffer Inventory (21:17)
8. JIT - Just in Time (12:53)
9. Introduction to Receivables Management (14:34)
10. Calculating Cost of Discount on Receivables and Payables (30:17)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Inventory reduction & Net Working Capital - BPP kit - MCQ 41 - 42 (12:39)
2. Working Capital Requirement & Debt Factoring - BPP Kit - MCQ 43, 45, 49, 52 (26:48)
3. Buffer Inventory - BPP Kit - MCQ 53 - ZAR Co. (7:24)
4. Cash Receipts - BPP kit - MCQ 56 - JP Co. (7:46)
5. Inventory ,Working Capital & Cash Flow impact - BPP kit - OTQ 66 - 70 (36:22)
6. Working Capital Ratios - BPP Kit - Sec C - Q 81 - Pumice Co. (59:39)
7. Working Capital - Factoring - ACCA Study Hub -Sec C - Q 39 - H Finance (30:18)
8. Working Capital and Forecast FS - BPP Kit - Sec C - Q 81 - APX Co. (29:29)
9. Cash Operating Cycle - BPP Kit - Sec C - Q 82 - Pengali (33:50)
10. Inventory Management - ACCA Study Hub - Sec C - Q 40 - Victory Co. (42:32)
11. Factoring and Invoice Discounting Extra Session (18:33)
Quiz - Working Capital Management
Quiz - Working Capital
QUIZ - Working Capital Investment (Theory)
QUIZ - Working Capital Investment (Calculation)
FM Assignment 2 - Working Capital Management
Chapter 4 - Cash Management and Working Capital Finance
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Cash Flow and Working Capital Management (20:34)
2. Forecasting Cash Flow (28:21)
3. Cash Flow Forecasting and Uncertainties (28:12)
4. Treasury Management (13:12)
5. Cash Management Baumol Model (12:26)
6. Cash Management Miller Orr Model (16:33)
7. Investing Surplus Cash (7:38)
8. Working Capital Funding Strategies (18:23)
9. Standard Deviation and Variance (39:47)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Treasury & Cash Management Models - BPP Kit - MCQs 56-60 (27:50)
2. Inventory and Receivables Mgt - BPP kit - MCQs 76-80 (35:15)
3. Inventory & Receivables/Payables Mgt- BPP Kit - OTQ - Q71-75 - Gorwa Co. (14:30)
4. EOQ & Receivables Policy BPP Kit - Sec C - Q 83 - WQZ Co (41:15)
5. Cash Conversion Cycle & Ratios - BPP Kit - Sec C - Q 87 - CSZ Co - Part a (25:00)
6. Cash Conversion Cycle & Ratios - BPP Kit - Sec C - Q 87 - CSZ Co - Part b & c (35:03)
7. Cash Flow Forecasting & Miller-Orr Cash Mgt Model - BPP Kit - Sec C - Q 88 - Flit Co. (31:40)
8. Receivables Mgt & Debt Factoring - BPP Kit - Sec C - Q 89 - Widnor (23:58)
Quiz - Working Capital Finance
Quiz - Cash Management and Working Capital Finance Calculation
Working Capital Section C Commonly asked Theoretical Q n A
Quiz - Cash Management and Working Capital Finance Theory
FM Assignment 3 - Cash Management
Chapter 5 - Investment Decisions
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Investment Appraisal (32:44)
2. Relevant Cash Flows (25:27)
3. Payback Period Method (20:18)
4. ARR and ROCE (25:46)
5. Introduction to Discounted Cash Flow - DCF (9:14)
6. Shareholder Wealth Maximization and DCF (15:47)
7. Compounding and Discounting (31:31)
8. Discounting the Cash Flows - Example (19:56)
9. Discount Factors (5:36)
10. Annuity (14:58)
11. Annuity Examples Solved (18:47)
12. Perpetuities (13:48)
13. Net Present Value - NPV (25:38)
14. Net Present Value Further Explained (14:05)
15. IRR - Internal Rate of Return (26:03)
16. Assessment of DVF as Method of Investment Appraisal (16:29)
17. Non Conventional Cash Flows (5:25)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. ROCE & Pay back period - BPP Kit - MCQs 91-93 (27:14)
2. Relevant Cash Flows - BPP kit - MCQs 94-100 (6:26)
3. ROCE ,NPV, Pay back & IRR - BPP Kit - OTQ -Q 146-150 - Trecor Co. (28:39)
4. ROCE/ARR, Payback & Relevant Costing of Labor - BPP kit - MCQs 90-96 (23:59)
5. Annuity & Perpetuity - BPP Kit - MCQs 100-109 (41:30)
6. DCF ,NPV ,Tax Shields & Perpetuity Valuation - BPP Kit - Sec C - Q 160 - Degnis Co. (1:03:06)
7. Advanced Investment Appraisal - BPP Kit - Sec C - Q 166 - Pelta Co. (59:23)
QUIZ - Investment appraisal using DCF methods (Calculation)
Quiz - Investment Appraisal using DCF methods (Theory)
QUIZ - Investment Decision - Basic Techniques (Calculation)
Quiz - Investment Decision - Basic Techniques (Theory)
Chapter 6 - Allowing for inflation and taxation
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Inflation and Taxation in Investment Appraisal (20:17)
2. Allowing for Inflation (30:59)
3. Allowing for Taxation (28:32)
4. Tax Allowable Depreciation TAD (33:45)
5. Treatment of Working Capital in Inv Appraisal (25:49)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Inflation and Taxation - BPP Kit - MCQs 110 - 112 (31:57)
2. Inflation and Taxation - BPP Kit - MCQs 112, 118, 120 (22:07)
3. Nominal and Real NPV -BPP Kit - Sec C - Q 161 - Pinks Co. (56:23)
4. Inv Appraisal (Inflation & Taxation) - BPP Kit - Sec C - Q 163 - Uftin Co. (50:06)
5. Adv NPV, Tax Allow Dep & Inflation - BPP Kit - Sec C - Q 254 - OKM Co. (01:03:10)
QUIZ - Investment appraisal with Inflation and taxation
QUIZ - Allowing For Tax, Working Capital And Inο¬ation (Theory)
Quiz - Allowing For Tax, Working Capital And Inο¬ation (Calculation)
Chapter 7 - Project appraisal and risk
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Project Appraisal and Risk (21:39)
2. Certainty Equivalents (05:55)
3. Probability Analysis and Discounted Payback (20:23)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Sensitivity Analysis - BPP Kit - MCQs 123-124 (28:59)
2. Inv App under Risk & Uncertainty - BPP Kit - Sec C - Q 162 - Cooper Co. (57:47)
3. NPV & Perpetuity Valuation -BPP kit - Sec C - Q 159 - Degnis Co. (38:57)
4. Risk-Adj NPV & Inflation Modeling - BPP Kit - Sec C - Q 164 - Vyxyn (53:30)
5. Sensitivity Analysis & Expected NPV - BPP kit - Sec C - Umunat Co. (25:20)
QUIZ - Project Appraisal & Risk (Calculation)
QUIZ - Project Appraisal & Risk (Theory)
Chapter 8 - Specific investment decisions
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Overview of Specific Investment Decisions (9:09)
2. Introduction to Leases (15:03)
3. Lease or Buy Decisions (41:44)
4. Asset Replacement Decisions (23:54)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Lease or Buy without Tax - BPP Kit - Sec C - Q 155 - Melanie (33:18)
2. Lease or Buy with Tax - BPP Kit - Sec C - Q 157 - AGD Co. (28:31)
3. Lease or Buy Decision Analysis - BPP Kit - Q 158 - Dink Co. (49:29)
4. Replacement cycle - BPP Kit - Sec C - Clover Co. (17:37)
5. Capital Rat & Asset Replacement Cycle - BPP Kit - Sec C - Crocket Co. (39:44)
6. Expected NPV - BPP Kit - Sec C - Galle Co. (01:16:37)
7. Lease or Buy - BPP Kit - Sec C - Dink Co (37:35)
Investment Appraisal Section C Commonly asked Theoretical Q n A
QUIZ - Specific Investment Decisions
Test Your Understanding 1 - Investment Appraisal
Chapter 9 - Sources of finance
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Sources of Finance (4:34)
2. Questions to Consider (11:26)
3. Short Term Sources of Finance - Overdraft (13:53)
4. Short Term Sources of Finance - Bank Loan (11:37)
5. Long Term Debt - Bank Loans (17:06)
6. Long Term Debt - Bonds (20:56)
7. Debt or Equity (14:24)
8. Ordinary Shares (27:21)
9. Preference Shares (17:22)
10. Stock & Bond Markets (15:42)
11. Obtaining Stock Market Listing (6:02)
12. Rights Issue (17:01)
13. Bonus Issues and Stock Split (13:33)
14. Islamic Finance (14:56)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Sources of Finance - BPP Kit - MCQs 166 - 170 (08:10)
2. Cost of Capital - BPP Kit - Sec C - Q 214 - Corfe Co. (1:00:04)
3. Share Pricing & TERP - BPP Kit - Sec C - Q 213 - LaForge Co. (51:26)
4. Sources of Fin ,Cap Structure & Div Policy Analysis - BPP Kit - Q 272 - Echo Co. (33:21)
5. Fin Opt ,Impact on EPS, Fin Gearing & Interest Cov - BPP kit - Spine Co. (28:45)
6. Rights Iss Pricing, TERP, and Loan Note Redemp - BPP Kit - Sec C - Bar Co. (25:45)
7. TERP & Value of Rights - BPP kit - Sec C - Tirwen Co. (34:31)
QUIZ - Sources of Finance
Chapter 10 - Dividend policy
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Dividend Policy - Introduction (27:07)
2. Dividend Policy - Final (22:19)
3. Average Dividend Growth Calculation (05:08)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Dividend Policy - BPP Kit - MCQs 171 - 175 (18:56)
2. Dividend Policy & Share Valuation - BPP Kit - Sec C - Pavlon Co. (47:20)
QUIZ - Dividend Policy
Chapter 11 - The Cost of Capital
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Introduction to Cost of Capital (5:29)
2. Chapter Overview (8:26)
3. Risk and Reward (18:38)
4. Dividend Valuation Model (20:14)
5. Estimating the Growth (16:16)
6. Introduction to Capital Asset Pricing Model - CAPM (25:36)
7. Using CAPM to Calculate the Cost of Equity (29:27)
8. Cost of Irredeemable Debt (14:49)
9. Cost of Redeemable Debt (14:27)
10. Cost of Bank Loan and Preference Shares (2:56)
11. Cost of Convertibles (17:43)
12. Introduction to WACC (12:23)
13. Calculating WACC (26:34)
14. Beta Concept (23:56)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Cost of Capital - BPP Kit - OTQ 206-210 - IML Co. (24:28)
2. WACC - BPP Kit - Q221 - Tufa Co. (1:05:03)
3. WACC & project specific COE - BPP Kit - Q 216 - Fence co. (28:24)
4. WACC & Capital Structure Fin - BPP Kit - Q 220 - Dinla Co. (1:05:17)
5. WACC - Mar/June 2019 - Exam Question (29:07)
6. WACC & individual comp costs - BPP Kit - Sec C - Q 214 - Corfe Co. (1:00:43)
7. Cost of Capital & WACC - BPP Kit - Sec C - Q214 - AQR Co. (46:07)
8. After tax WACC - BPP kit - Sec C - Marble Co. (01:23:21)
QUIZ - The Cost of Capital (Calculation)
Quiz - The Cost of Capital (Theory)
QUIZ - Capital Structure 2 (Calculation)
QUIZ - The Cost of Capital 2 (Theory)
Chapter 12 - Gearing and capital structure
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Chapter Overview (10:48)
2. Introduction to Capital Structure (9:53)
3. Gearing and Financial Risk (23:58)
4. Advantages and Disadvantages of Debt Financing (16:28)
5. Gearing Ratios (17:38)
6. Operational Gearing (26:38)
7. How Much Debt is Appropriate (10:57)
8. Effect of Debt or Equity on EPS (26:33)
9. Traditional Theory of Capital Structure (14:30)
10. Modigliani & Miller Approach to Capital Structure (24:05)
11. Modigliani & Miller Approach Example (3:21)
12. Pecking Order Theory (6:25)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Capital Structure - BPP kit - MCQs 176 - 180 (36:08)
2. Gearing - BPP Kit - MCQs 181 - 183 (09:59)
3. Capital Structuring - BPP Kit - MCQs 192 - 195 (28:31)
4. Capital Structuring - BPP Kit - MCQs 195 - 200 (24:25)
5. Rights Issue, Debt Buyback, and Fin Risk Analysis - BPP Kit - Sec C - Q 211 - Bar Co. (56:12)
6. Cap Restructuring via Rights Issue & Debt Redemp - BPP Kit - Q 218 - Grenarp Co. (42:32)
7. WACC Calculation & Fin via Convertible Bonds - BPP Kit - Sec C - BKB Co. (53:53)
8. WACC, Capital Structure Theories & Sources of Fin - BPP Kit - Sec C - TANZA Co. (42:23)
9. Cap structure ,Ratios & Financing - BPP Kit - Sec C - Gamgee Co (01:14:28)
Business Finance and Cost of Capital Section C Commonly asked Theoretical Q n A
QUIZ - Gearing & Capital Structure (Theory)
Quiz - Gearing & Capital Structure (Calculation)
Test Your Understanding 2 - Business Finance and Business WACC
Chapter 13 - Business valuations
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Business Valuation - Introduction (12:40)
2. Asset Based Valuation (05:14)
3. Earnings (Income) Based Approach (26:32)
4. Cash Flow Based Valuation (34:04)
5. Valuation of Debt (28:25)
6. Types of Market Efficiency (58:46)
7. Valuation of Shares (21:04)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Valuation of Co. ,Net asset valuation & DVM - BPP Kit - MCQs 222 - 225 (43:12)
2. Market value of Co. - BPP Kit - MCQs - 226 - 231 (35:58)
3. Business Valuation - Kaplan Kit - Q 300 - THP Co. (53:11)
4. Business Val & Cap Market Efficiency - Kaplan kit - Sec C -Q 293 - Phobis Co. (30:12)
QUIZ - Business Valuation (Theory)
Quiz - Business Valuation (Calculation)
QUIZ - Market Efficiency & Behavioural Finance
Test Your Understanding 3 - Business Valuation
Chapter 14 - Foreign currency risk
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Foreign Exchange Risk - Introduction (26:30)
2. Types of Risk (20:11)
3. Money Market Hedging (30:37)
4. Futures, Options and Swaps (19:11)
Complete Study Notes
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Cap Structure and Foreign Exchange Risk - BPP Kit - OTQs 282 - 286 - Rose Co. (42:00)
2. Foreign Exchange Risk - BPP Kit - OTQs 292 - 296 - ZIGTO Co. (17:24)
3. Exchange Rate Risk - OTQs 297 - 301 - PGT Co. (39:32)
4. Money market hedge & Forward market hedge - Sec C - Dec 07 - PKA Co. (10:46)
Risk Management Section C Theoretical Q n A
QUIZ - Foreign Currency Risk (Theory)
Quiz - Foreign Currency Risk (Calculation)
Sec B - Marigold Co
Chapter 15 - Interest rate risk
π΅ LEARNING STAGE - TOPIC VIDEOS & NOTES
1. Interest Rate Risk - Full Chapter (01:01:17)
2. SWAPS - Extra Lesson (20:43)
π» PRACTICE STAGE - KIT AND EXAM QUESTION VIDEOS
1. Interest Rate Risk - OTQs 302 - 306 - TGA Co. (16:14)
2. Interest rate risk management - Sec B - Peony Co. (13:44)
QUIZ - Interest Rate Risk (Calculation)
Quiz - Interest Rate Risk (Theory)
Test Your Understanding 4 - Risk Management
Live Sessions Recordings for December 2026
FM Orientation Session for Dec 2026 Exams (1:04:25)
1. Section B - QSX co - Chapter 1 and 2 (30:05)
2. Section C Theory Questions - Chapter 1 and 2 (37:54)
3. Section C - Constant Co - Working Capital (43:10)
4. Section C Theory Questions - Working Capital (29:03)
5. Section C - Sep/Dec 2023 Practice Question (01:05:00)
Additional Resources - September 2026
Sec C - Business Valuation - Merlo Co (59:30)
Sec B - Q Marigold co (Foreign currency risk)
Working Caapital - Pre-December 2025 Mock Exam (26:28)
Sec C - Forux Co - Currency Risk Management (51:20)
Sec B - Q H Company (Interest rate risk management)
Past papers
FM Past Paper March/June 2022
FM Past Paper Sept/Dec 2022
FM Past Paper March/June 2023
FM Past Paper Sept/Dec 2023
FM Past Paper March/June 2024
FM Past Paper Sept/Dec 2024
FM Past Paper Mar/Jun 2025
FM Past Paper Sep/Dec 2025
FM Past Paper March/June 2026
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