Analysis of Difficulties in the Course of Financial Cost Management
The course of financial cost management involves a lot of formulas and calculations. It is characterized by the principles of formulas used in each calculation problem and the logic behind understanding these formulas.
"Financial Cost Management" has a large amount of calculation, and the difficulty of the topic is above average. The main difficulties are as follows:
1, with various formulas, complex indicators and large amount of information.
Financial management is scientific, and calculation is fundamental. Therefore, reciting a large number of financial management formulas has become the main source of stress for students. Taking the formulas related to knowledge points in Chapter 16, Quantity-Profit Analysis as an example, all kinds of nouns and technical terms are dazzling and confusing.
2. The test questions are combined across chapters to examine the comprehensive coping ability.
There are many formulas in financial management textbooks, which will be interspersed with some basic accounting knowledge, requiring students to master the basic accounting theory. The comprehensiveness of financial management is very strong, which is mainly reflected in the cross-chapter design of test questions.
Note that the financial management exam is very difficult.
Chapter one: the objectives of financial management and the requirements of stakeholders; Classification of effective capital market.
Chapter two: traditional and improved DuPont analysis system, management report analysis, sales percentage method, internal growth rate and sustainable growth rate.
Chapter 3: Term structure of interest rate, capital market line and securities market line.
Chapter four: The algorithm of debt capital cost (4 kinds) and equity capital cost (3 kinds).
Chapter five: cash flow estimation of new projects, cash flow estimation of updated projects, discount rate estimation of projects and sensitivity analysis of projects.
Chapter six: the factors influencing the bond value, the calculation of bond value, the calculation of bond expected return rate, the calculation of stock value and the calculation of expected return rate.
Chapter 7: Option combination strategy, replication principle, risk neutrality principle and parity theorem.
Chapter 8: Discount model and relative value evaluation method.
Chapter 9: earnings per share indifference method and enterprise value-price comparison method.
Chapter 10: Capital cost estimation of subscription bonds, convertible bonds and lease decision analysis.
Chapter III XI: Dividend distribution policy.
Chapter 12: Working capital financing strategy, credit policy decision analysis and economic order batch decision analysis.
Chapter 13: Interactive allocation of auxiliary production costs, cost allocation of finished products and in-process products, cost allocation of joint products, and step-by-step calculation of product costs (step-by-step comprehensive carry-forward step and parallel carry-forward step).
Chapter 14: Cost Difference Analysis.
Chapter 15: Activity-Based Costing.
Chapter 16: breakeven analysis and profit sensitivity analysis of single product and multi-product.
Chapter 17: Production Decision-making.
Chapter 18: Cash Budget.
Chapter 19: Calculation of return on investment and residual income.
Chapter 20: Open the economic added value and simplify the calculation of economic added value.
Chapter 2 1: Classification of quality cost.
Answering skills of certified public accountants in financial management
Financial Cost Management is a simple multiple-choice question, but it is more difficult. Students should respond with accurate and fast answering speed: at the beginning of the exam, we should take a look at the weight of the questions, quickly estimate the time taken up by each question, and maintain a stable answering speed. The general practice is to read through and answer the questions you know first, and skip the questions you are not sure about. Then recalculate your time and see how much time it takes for each remaining question. It is not worth spending too much time on a small problem. Even if you do it right, it may not be worth the loss.
The subjective questions behind the course of Financial Cost Management are characterized by strong comprehensiveness, involving many chapters and often with the nature of case analysis. Because comprehensive questions involve many test sites, they are generally divided into several problem-solving steps. Therefore, we must carefully examine the questions, carefully read the information, data and specific requirements given in the questions, and find out the ideas to solve the problems through analysis.