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F3 – Financial Strategy
4 sections available · 33 chapters available
Free F3 – Financial Strategy study notes for CIMA (CGMA Professional Qualification) students. Each chapter below covers a key topic with worked examples and practice prompts you can take into the thinka app.
A. Financial policy decisions
Strategic financial objectives
Financial objectives
Non-financial objectives and ESG
Investment, financing and dividend decisions
Market and lender requirements
Taxation and financial strategy
Regulatory requirements
B. Sources of long-term funds
Capital structure decisions (choice and change)
Changes in capital structure
Long-term debt finance (instruments, target profile, issuing, covenants, tax)
Equity finance (flotation and rights issues)
Target debt profile
Dividend policy (cash, scrip, share repurchase)
Issuing debt securities
Debt covenants
Tax considerations of debt
Rights issues
Scrip dividends
Share repurchase programmes
C. Financial risks
Sources and types of financial risk
Quantification of financial risk (parity relationships and value at risk)
Managing economic and political risk
Currency risk instruments
Interest rate risk instruments
D. Business valuation
Listing of firms
Mergers and acquisitions
Demergers and divestments
Valuation methods
Strengths and weaknesses of valuation methods (CAPM, efficient markets)
Pricing and bid issues
Bid issues
Post-transaction issues (value and benefit realisation)
Benefit realisation
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