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CPE Self-Study
Development of Financial Strategy
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NASBA FIELD OF STUDY
Finance
LEVEL
Intermediate
CPE CREDITS
Online: 1.5
This CPE course provides you with the technical knowledge required for the CGMA exam related to strategic management accounting. It identifies the key decisions in financial strategy and the links between them, and considers the impact of a change in financing, investment and dividend policies.

CGMA designation holders qualify for additional discounts on this product

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Product details

Who Will Benefit?

  • CGMA exam candidates
  • Management accountants wanting to develop skills in corporate financial strategy

Key Topics

  • Investment, financing and dividend decisions and the interrelationship between them in meeting the cash needs of the entity
  • Sensitivity of forecast financial statements and future cash position to investment, financing and dividend decisions
  • Considerations of the interests of shareholders and other stakeholders in investment, financing and dividend decisions (e.g. impact on investor and lender ratios, compliance with debt covenants and attainment of financial objectives)
  • Determine financing requirements and cash available for payment of dividends based on the overall consideration of the forecast future cash flows arising from investment decisions, business strategy and forecast business and economic variables
  • Lenders' assessment of creditworthiness (e.g. business plans, liquidity ratios, cash forecasts, credit rating, quality of management)
  • Financial strategy in the context of regulatory requirements (e.g. price and service controls exercised by industry regulators)
  • Consideration of taxation regulations (domestic and international) in setting financial strategy
  • Modeling impact of choice of capital structure on financial statements and key performance measures (e.g. ratios of interest to investors and lenders and compliance with debt covenants)
  • Impact of scrip dividends on shareholder value and entity value/financial statements/performance measures
  • Impact of share repurchase programs on shareholder value and entity value/financial statements/performance measures

Learning Objectives

When you complete this course, you will be able to:

  • Recognize the interrelationship between investment, financing and dividend decisions for an incorporated entity
  • Recognize the impact of taxation and other external influences on the development of financial strategy
  • Recognize the impact of investment, financing, and divdends decisions in meeting the cash needs of the entity, on future cash position, and on forecast financial statements
  • Recognize the impact of changes in capital structure for an incorporated entity on shareholders and other stakeholders
  • Recognize the impact of scrip dividends and share repurchase programs or shareholder value and entity value/financial statements/performance measures

This CPE course is included in the 50+ hours of CGMA Strategic Management Accounting. It can also be purchased individually or as a part of Corporate Financial Strategy.

This CPE course identifies the three key decisions in financial strategy and looks at the links between them. These key decisions are:

  • Investment – what projects should be undertaken by the organization?
  • Financing – how should the necessary funds be raised?
  • Dividends – how much cash should be allocated each year to be paid as a return to shareholders, and how much should be retained to meet the cash needs of the business?

These areas are closely interrelated. Investment decisions cannot be taken without consideration of where and how the funds are to be raised to finance them. Dividends represent the payment of returns on the investment back to the shareholders, the level and risk of which will depend upon the project itself, and how it was financed. This course explores such areas as the influence of external economic forces on financial strategy, the impact of taxation, and credit worthiness. It finally examines the repercussions involved when an entity changes its financing, investing, and dividend policy.

Ratings and reviews
Author(s)

Kaplan Publishing Limited

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

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Price:
$65.00
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Estimated total:
$65.00
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CREDIT INFO
CPE credits
Online
: 1.5
NASBA Field of Study
Finance
Level
Intermediate
Prerequisites
Management accounting experience or the equivalent
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
SMA-CFST4
GROUP PRICING
Contact a representative for group pricing.
Telephone: 800.634.6780 (Option 1)
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