
<p class="wp-block-paragraph"> Hello Dear CA Students,</p>



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<p class="wp-block-paragraph"><em>We are Sharing With You CA Final Advanced Financial Management (AFM) New Syllabus Study Material Compilation for May 2024 onwards Paper-2 : </em>Advanced Financial Management (AFM)<em> . So kindly Check Out our www.castudynotes.com website and ALL the Best for Your upcoming Exams.</em></p>
<cite>CA STUDY NOTES</cite></blockquote>


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<p class="wp-block-paragraph">PAPER 2: ADVANCED FINANCIAL MANAGEMENT (100 MARKS)</p>



<h4 class="wp-block-heading"><strong>Objective</strong></h4>



<p class="wp-block-paragraph">To acquire the ability to apply financial management theories and techniques in strategic decision making.</p>



<h4 class="wp-block-heading"><strong>Contents</strong></h4>



<h5 class="wp-block-heading"><strong>I Financial Policy and Corporate Strategy</strong></h5>



<p class="wp-block-paragraph">i Advanced role of CFO in various matters including Value Creation ii Strategic decision making frameworkiii Interface of Financial Policy and strategic management iv Balancing financial goals vis-à-vis sustainable growth</p>



<h5 class="wp-block-heading"><strong>Risk Management</strong></h5>



<p class="wp-block-paragraph">i Identification of types of Risk faced by an organisation ii Evaluation of Financial Risks</p>



<ol class="wp-block-list">
<li>Value at Risk (VAR)</li>



<li>Evaluation of appropriate method for the identification and management of financial risk</li>
</ol>



<h5 class="wp-block-heading"><strong>Advanced Capital Budgeting Decisions</strong></h5>



<p class="wp-block-paragraph">i Current trends in Capital Budgeting</p>



<ul class="wp-block-list">
<li>Impact of Inflation on Capital Budgeting Decisions</li>



<li>Impact of change in technology on Capital Budgeting</li>



<li>Impact of change in Government Policies on Capital Budgeting ii Dealing with Risk in Investment Decisions</li>
</ul>



<p class="wp-block-paragraph">iii Internal and External Factors affecting capital budgeting decision iv Methods of incorporating risk in Capital Budgeting</p>



<ol class="wp-block-list">
<li>Adjusted Present Value</li>



<li>Optimum Replacement Cycle</li>
</ol>



<h5 class="wp-block-heading"><strong>Security Analysis</strong></h5>



<p class="wp-block-paragraph">i Fundamental Analysis ii Technical Analysis</p>



<ul class="wp-block-list">
<li>Meaning</li>



<li>Assumptions</li>



<li>Theories and Principles</li>



<li>Charting Techniques – Basics</li>



<li>Efficient Market Hypothesis (EMH) Analysis iii Equity Research and tools available</li>
</ul>



<h5 class="wp-block-heading"><strong>Security Valuation</strong></h5>



<p class="wp-block-paragraph">i Theory of Valuation ii Return Concepts</p>



<ol class="wp-block-list">
<li>Equity Risk Premium</li>



<li>Required Return on Equity</li>



<li>Discount Rate Selection in Relation to Cash Flows vi Approaches to Valuation of Equity Shares</li>
</ol>



<p class="wp-block-paragraph">vii Valuation of Preference Shares viii Valuation of Debentures/ Bonds</p>



<ol class="wp-block-list">
<li>Role and Responsibilities of Valuers</li>



<li>Precautions need to be taken by a Valuer before accepting any valuation assignment</li>
</ol>



<h5 class="wp-block-heading"><strong>Portfolio Management</strong></h5>



<p class="wp-block-paragraph">i Portfolio Analysis ii Portfolio Selectioniii Capital Market Theory iv Portfolio Revisionv Portfolio Evaluation vi Asset Allocation</p>



<ol class="wp-block-list">
<li>Fixed Income Portfolio</li>



<li>Risk Analysis of Investment in Distressed Securities</li>



<li>Alternative Investment Avenues
<ul class="wp-block-list">
<li>Real Estate</li>



<li>Gold</li>



<li>Private Equity</li>



<li>REITs</li>



<li>Hedge Funds</li>



<li>ETFs</li>



<li>Mutual Funds</li>



<li>Commodities</li>
</ul>
</li>
</ol>



<h5 class="wp-block-heading"><strong>Securitization</strong></h5>



<ul class="wp-block-list">
<li>Introduction</li>



<li>Concept and Definition iii Benefits of Securitization</li>
</ul>



<p class="wp-block-paragraph">iv Participants in Securitization v Mechanism of Securitization vi Problems in Securitization</p>



<ol class="wp-block-list">
<li>Securitization Instruments</li>



<li>Pricing of Securitization Instruments</li>



<li>Risks in Securitization x Tokenization</li>
</ol>



<p class="wp-block-paragraph">xi Securitization in India</p>



<h5 class="wp-block-heading"><strong>Mutual Funds</strong></h5>



<p class="wp-block-paragraph">i Meaning ii Typesiii Advantages and Disadvantages of Mutual Funds iv Evaluation of Mutual Fundsv Role of Fund Manager in Mutual Funds vi Hedge Fundsvii Role of FIIs in Mutual Funds</p>



<h5 class="wp-block-heading"><strong>Derivatives Analysis and Valuation</strong></h5>



<p class="wp-block-paragraph">i Introduction to Forwards, Futures and Options ii Futures Marketiii Pricing of Forwards and Futures iv Hedging using Futuresv Options</p>



<ul class="wp-block-list">
<li>Option Pricing</li>



<li>Option Greeks</li>



<li>Exotic Options vi Credit Derivatives</li>
</ul>



<ol class="wp-block-list">
<li>Real Options</li>



<li>Derivative Mishaps and Lessons</li>



<li>Swaps</li>



<li>Commodity Derivatives xi Weather Derivatives</li>
</ol>



<p class="wp-block-paragraph">xii Electricity Derivatives</p>



<h5 class="wp-block-heading"><strong>Foreign Exchange Exposure and Risk Management</strong></h5>



<p class="wp-block-paragraph">i Factors affecting foreign exchange rate ii Role of SWIFT in Foreign Exchange</p>



<ol class="wp-block-list">
<li>National and International Payment Gateways</li>
</ol>



<h1 class="wp-block-heading"><em>Join Us on Telegram ;</em><a href="http://t.me/canotes_final"><em>http://t.me/canotes_final</em></h1>



<ol class="wp-block-list">
<li>Exchange rate determination v Foreign currency market</li>
</ol>



<p class="wp-block-paragraph">vi Management of Foreign Exchange Risk</p>



<h5 class="wp-block-heading"><strong>International Financial Management</strong></h5>



<ol class="wp-block-list">
<li>International Capital Budgeting
<ul class="wp-block-list">
<li>Offshore Investment Strategies vis-à-vis Domestic Capital Budgeting</li>



<li>Project vis-à-vis Parent Cash Flows</li>



<li>Discounting Rate and Adjusting Cash Flows</li>



<li>Adjusted Present Value</li>
</ul>
</li>



<li>Raising funds from International Sources iii Sovereign Funds</li>



<li>International Financial Centre (GIFT City)</li>



<li>International Working Capital Management
<ul class="wp-block-list">
<li>Multinational Cash Management
<ul class="wp-block-list">
<li>Objectives of Effective Cash Management</li>



<li>Optimization of Cash Flows/ Needs</li>
</ul>
</li>



<li>Multinational Receivable Management</li>



<li>Multinational Inventory Management</li>
</ul>
</li>
</ol>



<h5 class="wp-block-heading"><strong>Interest Rate Risk Management</strong></h5>



<p class="wp-block-paragraph">i Benchmark Rates ii Interest Rate Riskiii Hedging Interest Rate Risk</p>



<ul class="wp-block-list">
<li>Traditional Methods
<ul class="wp-block-list">
<li>Asset and Liability Management (ALM)</li>



<li>Forward Rate Agreement (FRA)</li>
</ul>
</li>



<li>Modern Methods including Interest Rate Derivatives
<ul class="wp-block-list">
<li>Interest Rate Futures</li>



<li>Interest Rate Options</li>



<li>Swaps</li>



<li>Swaptions</li>
</ul>
</li>
</ul>



<h5 class="wp-block-heading"><strong>Business Valuation</strong></h5>



<p class="wp-block-paragraph">i Conceptual Framework of Valuation ii Approaches/ Methods of Valuation</p>



<ul class="wp-block-list">
<li>Assets Based Valuation Model</li>



<li>Earning Based Models</li>



<li>Cash Flow Based Models</li>



<li>Measuring Cost of Equity
<ul class="wp-block-list">
<li>Capital Asset Pricing Model (CAPM)</li>



<li>Arbitrage Pricing Theory</li>



<li>Estimating Beta of an unlisted company</li>
</ul>
</li>



<li>Relative Valuation
<ul class="wp-block-list">
<li>Steps involved in Relative Valuation</li>



<li>Equity Valuation Multiples</li>



<li>Enterprise Valuation Multiple</li>
</ul>
</li>



<li>Other Approaches to Value Measurement
<ul class="wp-block-list">
<li>Economic Value Added (EVA)</li>



<li>Market Value Added (MVA)</li>



<li>Shareholder Value Analysis (SVA)</li>
</ul>
</li>



<li>Arriving at Fair Value</li>
</ul>



<p class="wp-block-paragraph">iii Going concern and Non Going concern valuation iv Valuation of Distressed Companies</p>



<ol class="wp-block-list">
<li>Valuation of Start ups</li>



<li>Valuation of Digital Platforms</li>



<li>Valuation of Professional/ Consultancy Firms viii Impact of ESG on valuation</li>
</ol>



<h5 class="wp-block-heading"><strong>Mergers, Acquisitions and Corporate Restructuring</strong></h5>



<p class="wp-block-paragraph">i Conceptual Framework ii Rationale</p>



<ol class="wp-block-list">
<li>Forms</li>



<li>Mergers and Acquisitions
<ul class="wp-block-list">
<li>Financial Framework</li>



<li>Takeover Defensive Tactics</li>



<li>Reverse Merger v Divestitures</li>



<li>Partial Sell off</li>



<li>Demerger</li>



<li>Equity Carve outs</li>
</ul>
</li>



<li>Ownership Restructuring
<ul class="wp-block-list">
<li>Going Private</li>



<li>Management/ Leveraged Buyouts</li>
</ul>
</li>



<li>Unlocking the value through Mergers &; Acquisitions and Business Restructuring viii Cross Border Mergers</li>
</ol>



<p class="wp-block-paragraph">ix Special Purpose Acquisition Companies (SPACs)</p>



<h5 class="wp-block-heading"><strong>Startup Finance</strong></h5>



<p class="wp-block-paragraph">i Introduction including Pitch Presentation ii Concept of Unicorniii Startup Initiative of GOI iv Sources of Fundingv Succession planning in Business</p>



<h2 class="wp-block-heading has-electric-grass-gradient-background has-background"><strong><a href="https://castudynotes.com/wp-content/uploads/2023/08/CA-Final-AFM-Study-Material-Compiler-May2024-Onwards-castudynotes-com.pdf" data-type="link" data-id="https://castudynotes.com/wp-content/uploads/2023/08/CA-Final-AFM-Study-Material-Compiler-May2024-Onwards-castudynotes-com.pdf">Download Final AFM Study Material PDF</a></strong></h2>



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