2016年ACCA考試F9科目備考要點解析
2016年ACCA考試備考工作已經開始了,同學們準備的怎麼樣了?所謂有備無患,在考前做好充足的準備,才能更好的'通過2016年ACCA考試。
今天小編為考生分享ACCA考試科目F9的考點解析,幫助大家學習ACCA F9的內容,同學們快來和小編一起備考吧!
The Internal Rate of Return (IRR)
The IRR is another project appraisal method using DCF techniques.
The IRR represents the discount rate at which the NPV of an investment is zero. As such it represents a breakeven cost of capital.
Decision rule:
Projects should be accepted if their IRR is greater than the cost of capital.
IRR
Using the NPV method, PVs are calculated by discounting cash flows at a given cost of capital, and the difference between the PV of costs and the PV of benefits is the NPV. In contrast, the IRR method of DCF analysis is to calculate the exact DCF rate of return that the project is expected to achieve.
If an investment has a positive NPV, it means it is earning more than the cost of capital. If the NPV is negative, it is earning less than the cost of capital. This means that if the NPV is zero, it will be earning exactly the cost of capital.
Conversely, the percentage return on the investment must be the rate of discount or cost of capital at which the NPV equals zero. This rate of return is called the I RR or the DCF yield and if it is higher than the target rate of return then the project is financially worth undertaking.
Calculating the IRR using linear interpolating
The steps in linear interpolation are:
Calculate two NPVs for the project at two different costs of capital
Use the following formula to find the IRR:
Where:
L = Lower rate of interest
H = Higher rate of interest
NL = NPV at lower rate of interest
NH = NPV at higher rate of interest.
The diagram below shows the IRR as estimated by the formula
以上ACCA考試科目F9的考點希望能幫助大家順利通過2016年ACCA考試.更多精彩請關注應屆畢業生網!
-
2017年ACCA考試F1十大易混淆知識點
2017年ACCA考試雖然還沒有開始。但是為了方便考生更好的`複習ACCA考試F1科目。下面是yjbys小編為大家帶來的F1十大易混淆知識點,歡迎閲讀。icsector&PrivatesectorPublicsectoristheorganizationownedorrunbythegovernmentorgovernmentagencies.Alltheother...
-
2017年ACCA考試新舊考綱變化
根據ACCA特許公認會計師公會的規則,每隔7年,ACCA就會進行一次考試大綱的着重更新,同時課程設置和內容上也會進行較大的改革。恰逢2016年ACCA實施的新的考試大綱,對2017乃至2018年都有着重大影響。下面是yjbys小編為大家帶來的ACCA考試新舊考綱變化的知識,歡迎閲讀。...
-
ACCA經驗(分享版)
我來分享ACCA考試和職業規劃的心得。其實在我讀大學一年級,跟你們一樣青春無敵小蘿莉的時候,也聽過這樣一場ACCA宣講會。所以,今天來之前,我想象自己如果穿越到了16年前,會帶着哪些問題來聽這個宣講會。我猜,你們最關心的問題可能是:第一,ACCA考試難不難?第二,考了有什...
-
注重綜合能力的ACCA考試,別再死讀書了!
ACCA的課程涵蓋了會計、審計、税務、管理、決策等14門課,課程設計比較科學,由一般的基礎知識直到高級管理知識,循序漸進,這些內容除了有較深和全面的理論知識外,又提供了大量的案例,有很強的實際操作性。所以應屆畢業生網小編一直建議還未正式踏入社會的大學生報考AC...