First, the book is an overview of the content structure
Outline of the national Uniform CPA Examination prepared by the designated resource materials <<financial cost management>> financial management theory in the same time learn from the West, fully integrated with China's actual situation, the market for the current financial and economic conditions of modern cost management features, a comprehensive and systematic exposition of the financial cost management of the basic theory, basic content and basic methods. The book consists of two blocks (financial management and cost management accounting), a total of 22 chapters. According to <<financial cost management>> chapter structure and content of the inter-relationship, the contents of the book can be divided into six parts: the first part, the theoretical basis of financial management (the first chapter, Chapters II and III), The second part, the financial valuation (Chapter IV, Chapter V, VI and VII), the third part, long-term investment (Chapter VIII, Chapters IX and X), Part IV, long-term financing (Chapter XI, XII, XIII and XIV), the fifth part, working capital management (Chapter XV and VI), Part VI, cost accounting (Chapter 17, Chapter XVIII Chapter 19), Part VII, Management Accounting (Chapter 20 twenty-first chapter and Chapter 22). the specific chapters of the heavy and difficult to master as follows:
The first part, the theoretical basis of financial management (the first chapter, Chapters II and III) of the heavy and difficult: the content of financial management, financial management objectives of the three modes and their advantages and disadvantages, financial objectives and financial relations between the major conflicts and coordination methods, financial management principles, financial markets, financial analysis of three methods (trend analysis, ratio analysis, factor analysis), the meaning and application issues that need attention; basic financial indicators calculation, analysis and influencing factors, traditional financial ratios and analysis system for the core analysis, management of financial analysis system with the basic theory and applications, external financing percentage of sales, includes growth rates; sustainable growth rate, cash flow forecast.
The second part, the financial valuation (Chapter IV, Chapter V, VI and VII) of the heavy and difficult: the effective annual interest rate and nominal interest rates of conversion, portfolio risk and reward, B coefficients, the cost of ordinary shares estimates, the estimated cost of debt, the estimated value of the bonds, the estimated value of the stock, discounted cash flow model parameter estimation, sustainable growth model and two-stage growth model, the relative value of the model.
The third part, long-term investment (Chapter VIII, Chapters IX and X) of the heavy and difficult: net present value method, meaning rate of return method, income tax and depreciation impact on cash flow, the average annual cost of fixed assets is calculated, project systematic risk estimation methods, project-specific risk measurement and method of disposal; call and put options to determine the maturity value, the impact of the three option pricing model, the basic principles and methods, two binary option pricing model and multi- period binary option pricing model, Black-Scholes option pricing model parameter estimates, expansion options, timing options and abandonment options such as real options valuation method.
Part IV, long-term financing (Chapter XI, XII, XIII and XIV) of the heavy and difficult: operating leverage, financial leverage and composite leverage coefficient calculation, the capital structure decision-making; dividend theory, four content of dividend policy, stock splits and stock dividends to earnings per share, stock prices, common stock offering price and equity refinancing, calculate the price of bonds (with bond value), finance lease the lessee and lessor analysis basic method, the calculation of the cost of financing warrants, convertible bonds, the cost calculations.
Part V, working capital management (Chapter XV and VI) of the heavy and difficult: the stochastic model of cash holdings, credit policy (including cash discount decision analysis); inventory supply and use another application (such as self- or outsourcing decision-making), making the insurance reserves (such as delay in delivery), inventory storage period control, working capital financing.
Part VI, cost accounting (Chapter 17, Chapter XVIII of Chapter 19) of the heavy and difficult: the cost of supporting the production and distribution of imputation; finished products and in product cost allocation method (equivalent units method) gradually carried forward sub-step (with the cost reduction), sub-step (parallel to the carry-over sub-step) calculations, costing procedures, application of activity-based costing, product profitability analysis, production analysis, variance analysis of fixed manufacturing costs , standard cost accounting treatment.
Part VII, Management Accounting (Chapter 20 twenty-first chapter and Chapter 22) of the heavy and difficult: the volume-profit analysis of the basic formula, analysis of changes in various factors affecting the profit, the calculation of sensitivity coefficient of each factor, short-term management decision-making analysis, six methods of budgeting, in which the flexible budget is particularly important, cash budgeting basis, the preparation process and the preparation methods, projected income statement and projected balance sheet methodology, the application of economic value added, balanced scorecard theory and application cards, long-term incentive model. Links to free download http://eng.hi138.com
As can be seen from the above analysis: the first textbook, two, three, four and five is the most important part of the topic and content of, and Part VI and Part VII should be used as part of cost management focus of the examination times.
Third, in 2010 and modify the contents of the new materials
Chapter 2010, teaching has changed greatly increase the 'corporate form of organization,' revised 'the content of financial management' and financial markets, 'etc., the second chapter, revised the' ratio analysis and management in financial Statement Analysis 'content, the third chapter, an increase of' long-term plans, '' enterprise valuation of the equity cash flow and solid cash flow 'and' changes in the balance sheet under the growth rate, 'etc.; Chapter IV, Chapter III and V from the original part of the merger re-formation of a new chapter, Chapter V, Chapter V part of the original stripped out, justifies a separate revised, the sixth chapter, revised the 'cost of common stock and debt cost estimation 'and' weighted average cost of capital, 'the relevant content, VII, deleted entities and equity cash flow in part, delete the contents of economic profit, and revised the original most of this chapter, Chapter , amended the original part of Chapter IV and justifies alone, Chapter IX, from the fourth chapter and part of the cost of capital and a separate amendment justifies the merger, Chapter X, Chapter V part from stripping revised alone justifies, Chapter XI, this material was greatly changed, added, 'Capital structure theory' and revised 'target capital structure,' most of the content, XII, revised the 'stock dividend, stock split and repurchase 'related content, Chapter XIII, Chapter VIII the original part of the stock and bond stripping alone justifies, Chapter 14, Chapter VIII of the original lease and so justifies a separate part of peel; Chapter XV increase the liquidity of the investment policy, revised the 'working capital investment policy,' the part, Chapter XVI, of Chapter VIII of the original policy and the financing of working capital financing and other short-term spin-off part of a separate Chengzhang, seventeenth chapter, teaching materials to increase the 'auxiliary production cost imputation and allocation' in the interactive program distribution method and the distribution method, Chapter 20 to delete the 'short-term business decision,' the relevant content, the twenty-second chapter, the original section sixth chapter, 'fiscal responsibility'-related content and the original Chapter XVII, 'Performance evaluation and incentive model' merger-related content, increasing the 'return on investment' and 'economic profit model' and so on.
Fourth, the learning guide
First, the development of specific learning plan. Forewarned is forearmed, without prejudging the waste. Thorough and practicable to develop a detailed plan, there is a good start, candidates who can progress according to curriculum counseling, reasonable arrangements for their learning programs. Suggested a 'focused' principle to allocate valuable learning time. 'Focused' has two meanings: (1) focus on the weak sections: the early chapters focus on comprehension, such as Chapter 3, Chapter 4, Section 5 chapter, Chapter 10 and other post-focus memory section, such as Chapter 1, Chapter 12, Chapter 22, etc., (2) focus on the year to add, change, because in recent years, new, change the contents of the year to test the general , as Chapter 13, Chapter 14, etc., the candidates only in accordance with syllabus requirements and resource materials to take 'a comprehensive review, to seize the key breakthroughs in difficult, master' strategy, in order to lay a good foundation for the examination. Share in free download http://eng.hi138.com
Secondly, the materials to see at least three times. Crude first pass read, without understanding, only requested information <<financial cost management>> knowledge about the book, the contents of the main quick, make the appropriate mark. Intensive second time, carefully read the textbook chapters, proper selection of exercises to practice and consolidate the main points of knowledge, the more difficult sections, may be appropriate to read the relevant reference materials to better understand, and in order to improve the ability of taking, you can select one to two materials succinctly and intensive counseling or study guides, exam books, and strive to achieve through the practice from the 'work experience' to 'test mode' shift from 'knowledge points' to 'test scores' of conversion. read the third time series, this stage, we must pay attention to before and after the point of contact and knowledge mastery, should be fast reading, find themselves not remember the simplicity of the knowledge points, its major breakthroughs, only a deep understanding of its key points, repeat the exercise exercises, understand its principles and master the method of calculation, is a magic weapon for winning candidates.
Again, select typical examples and practice questions familiar to nearly three years. To do the exercises can test the effect of reading, but also to consolidate the results of reading, doing exercises for the examination both necessary and important look at the same time teaching the second time , the contents of each chapter may do some typical exercises (such as new teaching materials and the same questions over the years), and strive to grasp the important points of the chapter, looking at the same time teaching the third time, to choose some of the integrated cross-section title (such as calendar year of the math exam) exercises, seek knowledge before and after the point of mastery, replicability, and on this basis will focus on problem-solving training, to sum up the upgrade, and strive to answer quickly by routine, for the shortest period of time from The answer to the best effect, in addition, six sets of exam should be done about high quality simulation questions, two days of a better arrangement, and <<financial cost management>> the test of time consistent, continued to test before the finish questions, you can do problem for the case, then examine the essentials of teaching here again, to make one last fill a vacancy, it can either check the comprehensive examination capability, but also testing whether the state has entered the exam is worth noting that Do not give up the books, the sea blindly engage in tactical and only system to know the contents of the book, understand the basic principles of teaching, to master the main points of knowledge, can really do to improve the speed and accuracy problems.
Finally, the computing time when the focus on improving the ability to calculate accurate. 'Financial cost management>> large amount of test questions, the difficulty of deep test of knowledge and proficiency to master the essentials of the spot response capabilities, candidates usually do once only to their own problems when calculation of the opportunity, do not develop the habit of checking, careless attention to overcoming problems, we must improve the calculation accuracy. To achieve this, candidates can usually pay attention to the sensitivity of digital culture, and more hands-on design, calculation, as long as full use of work, it is not difficult to pass the exam.