ACCA Advanced Financial Management (AFM) Study Text - Strategic Professional – Options

Sep 23, 2026

AFM Study Text for ACCA Strategic Professional – Options, designed for examination success with a structured learning approach. Includes a detailed study guide with syllabus objectives, an overview of the examination, study skills and revision guidance, and chapter-by-chapter study text. Each chapter provides mapped learning objectives, diagrammatic topic overviews, definitions and context, worked examples, “test your understanding” checks with answers at chapter end, and summary diagrams. Also features question practice, icon-based guidance, quality and accuracy feedback instructions, and a comprehensive index plus Questions and Answers section.

LanguageEnglish

CategoryExam

FormatPDF

Pages634

Reading Time26 h 38 min

AccessFree to download

Contents

Chapter 1 The role and responsibility of the financial manager

Chapter 2 Investment appraisal

Chapter 3 International operations and international investment appraisal

Chapter 4 The financing decision

Chapter 5 The dividend decision

Chapter 6 The weighted average cost of capital (WACC)

Chapter 7 Risk adjusted WACC and adjusted present value

Chapter 8 Option pricing

Chapter 9 An introduction to risk management

Chapter 10 Hedging foreign exchange risk

Chapter 11 Hedging interest rate risk

Chapter 12 Strategic aspects of acquisitions

Chapter 13 Business valuation

Chapter 14 Corporate failure and reconstruction

Chapter 15 Professional skills

Chapter 16 Employability and technology skills

Chapter 17 Questions and Answers

Index

Validfor September 2026, December 2026, March 2027 and June 2027 ACCA Advanced Financial Management (AFM) Study Text ACCA Strategic Professional – Options Advanced Financial Management (AFM) Study Text British library cataloguing-in-publication data A catalogue record for this book is available from the British Library. Published by: Kaplan Publishing UK 179-191 Borough High Street London SE1 1HR ISBN 978-1-83735-259-3 © Kaplan Financial Limited, 2026 The text in this material and any others made available by any Kaplan Group company does not amount to advice on a particular matter and should not be taken as such. No reliance should be placed on the content as the basis for any investment or other decision or in connection with any advice given to third parties. Please consult your appropriate professional adviser as necessary. Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to any person in respect of any losses or other claims, whether direct, indirect, incidental, consequential or otherwise arising in relation to the use of such materials. Acknowledgements We are grateful to the Association of Chartered Certified Accountants and the Chartered Institute of Management Accountants for permission to reproduce past examination questions. The answers have been prepared by Kaplan Publishing. P.2 KAPLAN PUBLISHING Contents Page Chapter 1 The role and responsibility of the financial manager 1 Chapter 2 Investment appraisal 41 Chapter 3 International operations and international investment appraisal 71 Chapter 4 The financing decision 119 Chapter 5 The dividend decision 167 Chapter 6 The weighted average cost of capital (WACC) 199 Chapter 7 Risk adjusted WACC and adjusted present value 227 Chapter 8 Option pricing 251 Chapter 9 An introduction to risk management 279 Chapter 10 Hedging foreign exchange risk 319 Chapter 11 Hedging interest rate risk 359 Chapter 12 Strategic aspects of acquisitions 393 Chapter 13 Business valuation 433 Chapter 14 Corporate failure and reconstruction 475 Chapter 15 Professional skills 525 Chapter 16 Employability and technology skills 535 Chapter 17 Questions and Answers 549 Index I.1 KAPLAN PUBLISHING P.3 P.4 KAPLAN PUBLISHING Introduction KAPLAN PUBLISHING P.5 How to use the Materials These Kaplan Publishing learning materials have been carefully designed to make your learning experience as easy as possible and to give you the best chances of success in your examinations. The product range contains a number of features to help you in the study process. They include: 1 Detailed study guide and syllabus objectives 2 Description of the examination 3 Study skills and revision guidance 4 Study text 5 Question practice The sections on the study guide, the syllabus objectives, the examination and study skills should all be read before you commence your studies. They are designed to familiarise you with the nature and content of the examination and give you tips on how to best to approach your learning. The study text comprises the main learning materials and gives guidance as to the importance of topics and where other related resources can be found. Each chapter includes: • The learning objectives contained in each chapter, which have been carefully mapped to the examining body's own syllabus learning objectives or outcomes. You should use these to check you have a clear understanding of all the topics on which you might be assessed in the examination. • The chapter diagram provides a visual reference for the content in the chapter, giving an overview of the topics and how they link together. • The content for each topic area commences with a brief explanation or definition to put the topic into context before covering the topic in detail. You should follow your studying of the content with a review of the illustration/

FAQs

What learning support does the AFM study text provide before starting the chapters?

It includes a detailed study guide with syllabus objectives, a description of the examination, and study skills and revision guidance. These sections are designed to familiarise you with the exam’s nature and content and to guide how to approach your learning.

How is each chapter structured to support learning and exam preparation?

Each chapter includes mapped learning objectives, a chapter diagram for topic overview, brief explanations or definitions to set context, worked illustrations, “test your understanding” sections with answers at the back of the chapter, and summary diagrams linking core topics.

Where can exam practice and additional assessment material be found?

Question practice is provided at the back of each text, and the book includes a dedicated “Questions and Answers” chapter near the end. An index is also included for reference.

Sep 23, 2026

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