The "ACCA FM: Financial Management & Investment Decisions" course offers a comprehensive exploration of the core principles and practices that underpin financial management in modern businesses. The course begins by examining the objectives and roles of financial management, including the importance of balancing ethical considerations with value maximization goals. Learners will gain an understanding of the financial environment in which businesses operate and the various forces that influence financial decision-making.

Building on this foundation, the course explores key financial management functions such as profit maximization versus wealth maximization, agency theory, and the financial objectives of different types of organizations. Learners are introduced to financial planning and control strategies, including budgeting, forecasting, cash flow management, and the implementation of internal controls to manage risk effectively.

Investment appraisal techniques form a major focus, equipping students with the skills to assess investment opportunities using methods like Payback Period, Accounting Rate of Return (ARR), Net Present Value (NPV), and Internal Rate of Return (IRR). The course also addresses how to incorporate risk and uncertainty into investment decisions, preparing learners for the challenges of real-world capital budgeting.

A detailed study of the various sources of finance introduces learners to short-term and long-term funding options, the comparison between equity and debt financing, and the principles of Islamic finance. Business valuation techniques are covered comprehensively, offering insights into asset-based, income-based, and market-based valuation methods, including the valuation of intangible assets.

The course then moves into working capital management, highlighting best practices in managing cash, receivables, payables, and inventory to ensure liquidity and operational efficiency. Capital structure theories, the calculation of Weighted Average Cost of Capital (WACC), and an analysis of gearing and financial risk are presented to help learners understand the impact of financing decisions on company value.

Dividend policy decisions are explored, examining factors influencing dividend strategies and theories regarding the relevance or irrelevance of dividends to shareholder value. Risk management techniques, including hedging strategies using forwards, futures, options, and swaps, are discussed in the context of managing business and financial risks, especially in international operations where currency exposure is significant.

Finally, the course addresses the unique financial management challenges faced by not-for-profit organizations, covering objectives, financial reporting responsibilities, and strategic investment and funding decisions. Through practical case studies, quizzes, and scenario-based exercises, learners develop the analytical and strategic thinking skills necessary to succeed in financial management roles.