ACCA2011年6月份考試大綱(F9)(9)

　　隨著ACCA2010年12月份考試的結束,考生正式進入ACCA2011年6月份的考試備考當中,為幫助廣大考生迅速掌握考試要點,定位好備考重點,正保會計網校本著服務廣大考生、努力讓廣大考生的復習、備考事半功倍的宗旨,將陸續(xù)公布2011年6月份ACCA考試大綱和學習指南,以饗考生！該大綱和學習指南旨在幫助考生規(guī)劃學習,并為每一部分的考點提供詳細的信息。

　　C WORKING CAPITAL MANAGEMENT

　　1.The nature,elements and importance of working capital

　　a)Describe the nature of working capital and identify its elements.^[1]

　　b)Identify the objectives of working capital management in terms of liquidity and profitability,and discuss the conflict between them.^[2]

　　c)Discuss the central role of working capital management in financial management.^[2]

　　2.Management of inventories,accounts receivable,accounts payable and cash

　　a) Explain the cash operating cycle and the role of accounts payable and accounts receivable.^[2]

　　b)Explain and apply relevant accounting ratios,including:^[2]

　　i)current ratio and quick ratio

　　ii)inventory turnover ratio,average collection period and average payable period

　　iii)sales revenue/net working capital ratio

　　c)Discuss,apply and evaluate the use of relevant techniques in managing inventory,including the Economic Order Quantity model and Justin- Time techniques.^[2]

　　d)Discuss,apply and evaluate the use of relevant techniques in managing accounts receivable,including:

　　i)assessing creditworthiness ^[1]

　　ii)managing accounts receivable ^[1]

　　iii)collecting amounts owing ^[1]

　　iv)offering early settlement discounts ^[2]

　　v)using factoring and invoice discounting ^[2]

　　vi)managing foreign accounts receivable ^[2]

　　e)Discuss and apply the use of relevant techniques in managing accounts payable,including:

　　i)using trade credit effectively ^[1]

　　ii)evaluating the benefits of discounts for early settlement and bulk purchase ^[2]

　　iii)managing foreign accounts payable ^[1]

　　f)Explain the various reasons for holding cash,and discuss and apply the use of relevant techniques in managing cash,including:^[2]

　　i)preparing cash flow forecasts to determine future cash flows and cash balances

　　ii)assessing the benefits of centralised treasury management and cash control

　　iii)cash management models,such as the Baumol model and the Miller-Orr model

　　iv)investing short-term

　　3.Determining working capital needs and funding strategies

　　a)Calculate the level of working capital investment in current assets and discuss the key factors determining this level,including:^[2]

　　i)the length of the working capital cycle and terms of trade

　　ii)an organisation's policy on the level of investment in current assets

　　iii)the industry in which the organisation operates

　　b)Describe and discuss the key factors in determining working capital funding strategies,including:^[2]

　　i)the distinction between permanent and fluctuating current assets

　　ii)the relative cost and risk of short-term and long-term finance

　　iii)the matching principle

　　iv)the relative costs and benefits of aggressive,conservative and matching funding policies

　　v)management attitudes to risk,previous funding decisions and organisation size ^[1]