ACCA P4科目介紹：
P4《高級財務(wù)管理》是F9《財務(wù)管理》的后續(xù)課程，更加注重一些復(fù)雜的戰(zhàn)略財務(wù)管理問題的解決。大綱分為四大部分，主要考察：
1.在跨國企業(yè)的環(huán)境下，高級行政人員或咨詢?nèi)藛T在滿足不同利益相關(guān)者需求時扮演的角色和責(zé)任;
2.在本國和國際環(huán)境下，投資決策和融資決策對戰(zhàn)略結(jié)果的影響;
3.在復(fù)雜的公司結(jié)構(gòu)下，財產(chǎn)管理部門的角色，其中包括企業(yè)存在的風(fēng)險和管理這些風(fēng)險的戰(zhàn)略;
4.財務(wù)問題的影響。
ACCA P4科目考試技巧
ACCA P4 Advance Financial Management Paper Exam Tips for September 2015 Session are given below by famous tuition providers
Kaplan
P4 is a technical paper with some complex calculations sometimes but DO NOT think of the exam as numbers-only. There are plenty of discursive parts which are usually easier than the calculations and easy marks can be picked up by applying commercial awareness and common sense.
Analyse the individual requirements of the question. If you can do the wordy bits first then do so as you will not get bogged down in them like you will with the calculation elements.
Do not expect to finish a question. You must stick to time, especially on the calculations which are very easy to over-run on. The exam is extremely time pressured and the secret to passing is to have a go at every part of every question, not to try and get 100% on every question – to do that you would need about 7 hours!
If you are not sure what to do with a particular figure in a question, ignore it and move on – state assumptions, you haven’t got time to worry about it!
If you get a Black-Scholes question, always list out the input variables as your first stage and assign the relevant values to them – there will be about 2-3 marks usually for doing this.
Practice as many questions as possible but do as many as possible to time. You must get used to doing the questions in the time available and not spending too long on them.
Practice as many questions as possible across the syllabus, and don’t only concentrate on what you consider to be the core areas.
Choose carefully on section B of the paper – it is very limited choice but nonetheless it will be critical.
Do not put down unnecessary workings; because as it will cost you heavily in lost time.
If there is a calculation that you are unable to complete – for e.g. a WACC which prevents you from going on to do the NPV, then just make a reasonable assumption and estimate a WACC which you have been unable to calculate, this will then allow you to progress the calculation and get on to the often more generously rewarded discursive parts of the question.
Look out for examinable articles – two in particular for June 2011:
24 August – The new examiner Shishir Malde gives his approach for the P4 paper
23 September – Another article by the new examiner Shishir Malde on Risk Management January/February article
Two key topics are always NPV appraisal and capital structure, particularly CAPM and Betas. You will not pass if that is all you know but you will struggle to pass if you do not know them!
ACCA P4科目學(xué)習(xí)方法
我認(rèn)為P4最關(guān)鍵的是思考問題的角度，因為經(jīng)歷大量的練習(xí)之后各種公式模型肯定已經(jīng)很熟悉了。可以發(fā)現(xiàn)幾乎所有問題給我們的身份都是企業(yè)高管或咨詢師，所涉及的問題也都是對企業(yè)具有重大戰(zhàn)略意義或者風(fēng)險很高的領(lǐng)域，因此要首先明確自己的看待問題的角度，不能僅從操作層面尋求方案，而是要綜合考慮內(nèi)外部環(huán)境、利益相關(guān)者的需求后做出a1決策。和SKILLS MODULE明顯不同的一點是P4已經(jīng)不把考察單獨知識點的掌握和公示的運用作為重點，而是需要我們在面對復(fù)雜的財務(wù)狀況和內(nèi)外環(huán)境時，根據(jù)職業(yè)判斷挑選可以使用的模型方法，然后針對各種方法的適用性和可靠性做出全面的討論評價，最后結(jié)合企業(yè)和社會的特殊需求做出最終選擇，得出結(jié)論。P4分析時給出結(jié)論很重要，因為分析本身不是目的，成為一名合格的決策者是ACCA真正培養(yǎng)的能力。
ACCAP4科目復(fù)習(xí)方法：
P4考查學(xué)生平時知識與經(jīng)驗的積累以及綜合應(yīng)用。知識的積累對于ACCA考試是極為重要的，它不僅限于深度的積累，也需要廣度的積累。建議以ACCA指定教材(FTC版)為主，對于重要知識點可以參考指定教材以外的書籍，比如hedging。當(dāng)前涉及hedging的中外文書籍和網(wǎng)上的文章很多，它們從不同的側(cè)面去研究這一話題，適當(dāng)涉獵有助于更準(zhǔn)確地理解hedging的本質(zhì)及各種方法。
復(fù)習(xí)方法是“一遍書兩遍題”，即先通讀一遍教材，然后做兩遍習(xí)題，在做*9遍習(xí)題的時候遇到問題馬上回去看書，及時發(fā)現(xiàn)自己沒有理解或遺漏的地方。第二遍做題時不再看書，就和考試時完全一樣。在時間安排上也要與上述方法相適應(yīng)，看書基本在平時下班后或上下班的車上，這樣不需要占用大塊的時間。周末的時間主要用來做題，發(fā)現(xiàn)的問題下周再利用小塊時間解決。第二遍做題基本快臨近考試了，這時候*4請一周的假集中在家復(fù)習(xí)沖刺，這樣可以保證不間斷的學(xué)習(xí)，從而達(dá)到a1效果。
