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ACCA Financial Management (FM) · review course

ACCA-09 · Professional qualifications

CertiFi's review course for ACCA's Applied Skills exam Financial Management (FM). It follows ACCA's FM syllabus and study guide for September 2026 to June 2027 (areas A–H), from the financial management function and environment through working capital management, investment appraisal with inflation, tax and risk, sources of finance and the cost of capital, business valuations and currency and interest rate risk, with step-by-step worked examples and a large bank of original practice questions, including case-based questions that build Section C judgement. Independent preparation course by CertiFi FZ LLC, not endorsed by ACCA.

Who it's for

ACCA students and finance professionals preparing for the Financial Management (FM) computer-based exam who want structured lessons, worked calculations and exam-style objective and case-based practice.

What you'll be able to do

  • Explain the objectives of financial management, the agency problem and the economic and financial market environment in which companies operate
  • Calculate and manage working capital, including the cash operating cycle, EOQ, receivables policies, Baumol and Miller–Orr cash models and funding strategies
  • Appraise investments using payback, ROCE, NPV and IRR, allowing for inflation, tax, risk and uncertainty, lease-or-buy, asset replacement and capital rationing
  • Evaluate sources of finance, including equity, debt, Islamic finance and SME funding, and discuss dividend policy and capital structure theories
  • Calculate the cost of equity, the cost of debt, the WACC and project-specific discount rates using CAPM with ungeared and regeared betas
  • Value shares and debt, explain market efficiency, and manage foreign currency and interest rate risk with forwards, money market hedges and other methods

Lessons

  1. 1The FM exam and the financial management functionreading
  2. 2The financial management environmentreading
  3. 3Working capital: the cash operating cycle and ratiosreading
  4. 4Managing inventories and receivablesreading
  5. 5Managing payables and cashreading
  6. 6Working capital needs and funding strategiesreading
  7. 7Investment appraisal: relevant cash flows, payback and ROCEreading
  8. 8Net present value and internal rate of returnreading
  9. 9Inflation and taxation in investment appraisalreading
  10. 10Risk and uncertainty in investment appraisalreading
  11. 11Specific investment decisions: lease or buy, replacement and capital rationingreading
  12. 12Sources of finance, dividend policy and SME financereading
  13. 13The cost of capitalreading
  14. 14Capital structure, gearing and project-specific discount ratesreading
  15. 15Business valuations and market efficiencyreading
  16. 16Foreign currency and interest rate risk managementreading