ACCA AFM · Advanced Financial Management

Everything you need to pass ACCA AFM.

Covers advanced investment decisions, M&A, treasury management, and complex financial risk management. £199 on its own, or all six Strategic Professional papers for £499, with lifetime access.

Buy AFM · £199 See the Strategic Professional pack

Modern tuition AI Tutor in every lesson Lifetime access as standard

3h 15m exam length
Mar, Jun, Sep, Dec exam sessions
Strategic Professional Option paper
£199 on its own, lifetime access

Taught by experts

Real experts behind every AFM course.

The qualified-accountant tutors who teach the paper, with an AI Tutor in every lesson.

Karl Ballard

AFM

Karl Ballard is VIVA's tutor for ACCA Performance Management (PM) and Advanced Financial Management (AFM).

ACCA AFM

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The syllabus

What AFM covers.

Advanced Financial Management (AFM) covers complex corporate finance: M&A, treasury management, real options, advanced risk hedging, and international financial management. It's aimed at senior finance professionals advising on major strategic financial decisions.

Advanced investment appraisal: real options and APV
Mergers and acquisitions: valuation and financing
Treasury management and multinational finance
Complex foreign exchange risk management
Interest rate risk: advanced hedging instruments
Behavioural finance and decision-making

The course, section by section

8 sections · 125 lessons · 19h 23m of video

01 A. Role of the senior financial adviser in the multinational organisation 5 modules17 lessons2h 57m of video
1. The role and responsibility of a senior financial executive 4 lessons 50m
2. Theoretical and practical rationale for risk management 3 lessons 24m
  1. Introduction to risk 10m
  2. Categories of risk 9m
  3. Risk management 5m
3. Ethics and governance 4 lessons 34m
  1. Stakeholders 11m
  2. Corporate governance 5m
  3. Ethics 6m
  4. Sustainability 12m
4. Management of international trade and finance 3 lessons 36m
  1. International trade 16m
  2. International financial markets 11m
  3. Financial planning 9m
5. Dividend policy in multinationals and transfer pricing 3 lessons 33m
  1. Dividend policy 10m
  2. Dividends in multinationals 13m
  3. Transfer pricing 10m
02 B. Advanced investment appraisal 9 modules35 lessons4h 11m of video
1. Net present value 5 lessons 37m
  1. Cashflows 6m
  2. Net present value 10m
  3. Annuities and perpetuities 6m
  4. Inflation, taxation and working capital 13m
  5. Benefits and drawbacks 2m
2. IRR and MIRR 2 lessons 16m
  1. IRR 8m
  2. MIRR 8m
3. Capital rationing 2 lessons 15m
  1. Single period 8m
  2. Multiple period 7m
4. Dealing with risk and uncertainty 3 lessons 15m
  1. Risk and uncertainty techniques 6m
  2. Value at risk 5m
  3. Project duration 4m
5. Application of option pricing theory in investment decisions 9 lessons 45m
  1. Terminology 10m
  2. Drivers of option value 5m
  3. Black Scholes option pricing model 11m
  4. Measures of volatility 3m
  5. Valuing put options 3m
  6. The Greeks 2m
  7. Delta and delta hedge 3m
  8. Real options 6m
  9. Equity and debt valuation 2m
6. International investment and financing decisions 3 lessons 34m
  1. Exchange rates 7m
  2. Risk 3m
  3. Investment appraisal 24m
7. Capital structure 4 lessons 33m
  1. Capital structure 15m
  2. Sources of finance 7m
  3. Islamic finance 8m
  4. Finance for overseas projects 3m
8. Weighted average cost of capital 4 lessons 32m
  1. WACC 3m
  2. Cost of equity 16m
  3. Cost of debt 11m
  4. Duration 2m
9. APV and risk-adjusted WACC 3 lessons 24m
  1. Methods for project appraisal 4m
  2. Risk-adjusted WACC 4m
  3. APV 16m
03 C. Acquisitions and mergers 4 modules12 lessons1h 20m of video
1. Rationale for mergers and acquisitions 2 lessons 18m
  1. Mergers and acquisitions 10m
  2. Synergy 8m
2. Business valuations 5 lessons 35m
3. Regulatory framework and processes 2 lessons 13m
  1. Regulation of takeovers 11m
  2. Defences against takeovers 2m
4. Financing mergers and acquisitions 3 lessons 14m
  1. Forms of consideration 3m
  2. Cash offers 3m
  3. Share exchanges 8m
04 D. Corporate reconstruction and re-organisation 2 modules4 lessons33m of video
1. Financial reconstruction 2 lessons 20m
  1. Corporate failure 5m
  2. Financial reconstruction 15m
2. Business re-organisation 2 lessons 13m
  1. Methods of reorganisation 6m
  2. Valuations and advantages 7m
05 E. Treasury and advanced risk management techniques 4 modules19 lessons2h 20m of video
1. The role of the treasury function in multinationals 2 lessons 10m
  1. The role of the treasury function 5m
  2. Risk and centralisation 5m
2. Hedging basics 3 lessons 15m
  1. Derivative instruments 4m
  2. Types of instrument 6m
  3. Key terms 5m
3. Managing forex risk 8 lessons 1h 4m
  1. Risk 7m
  2. Internal techniques 4m
  3. Forward contracts 4m
  4. Money market hedge 3m
  5. Futures contracts 22m
  6. Currency options 13m
  7. Swaps 4m
  8. Netting and matching 7m
4. Managing interest rate risk 6 lessons 51m
  1. Interest rates and risk 5m
  2. FRA 4m
  3. Futures 18m
  4. Options 12m
  5. Caps, floors and collars 4m
  6. Interest rate swaps 8m
06 AFM practice exam 1 3 modules13 lessons2h 40m of video
1. Question 1 practice exam 1 (AFM) 6 lessons 1h 11m
  1. Question 1 - Set up 16m
  2. Question 1 - Part a 3m
  3. Question 1 - Part b (i) 24m
  4. Question 1 - Part b (ii) 14m
  5. Question 1 - Part b (iii) 8m
  6. Question 1 - Part c 6m
2. Question 2 practice exam 1 (AFM) 4 lessons 40m
  1. Question 2 - Set up 10m
  2. Question 2 - Part a 4m
  3. Question 2 - Part b 14m
  4. Question 2 - Part c 12m
3. Question 3 practice exam 1 (AFM) 3 lessons 49m
  1. Question 3 - Set up 12m
  2. Question 3 - Part a 32m
  3. Question 3 - Part b 5m
07 AFM practice exam 2 3 modules12 lessons2h 52m of video
1. Question 1 practice exam 2 (AFM) 6 lessons 1h 25m
  1. Question 1 - Set up 19m
  2. Question 1 - Part a 4m
  3. Question 1 - Part b 5m
  4. Question 1 - Part c (i) 20m
  5. Question 1 - Part c (ii) 26m
  6. Question 1 - Part c (iii) 11m
2. Question 2 practice exam 2 (AFM) 3 lessons 41m
  1. Question 2 - Set up 12m
  2. Question 2 - Part a 23m
  3. Question 2 - Part b 6m
3. Question 3 practice exam 2 (AFM) 3 lessons 46m
  1. Question 3 - Set up 8m
  2. Question 3 - Part a 33m
  3. Question 3 - Part b 5m
08 AFM specimen exam 3 modules13 lessons2h 30m of video
1. Question 1 specimen exam (AFM) 7 lessons 1h 7m
  1. Question 1 - Set up 19m
  2. Question 1 - Part a 6m
  3. Question 1 - Part b (i) 6m
  4. Question 1 - Part b (ii) 10m
  5. Question 1 - Part b (iii) 13m
  6. Question 1 - Part b (iv) 8m
  7. Question 1 - Part c 5m
2. Question 2 specimen exam (AFM) 3 lessons 41m
  1. Question 2 - Set up 11m
  2. Question 2 - Part a 24m
  3. Question 2 - Part b 6m
3. Question 3 specimen exam (AFM) 3 lessons 42m
  1. Question 3 - Set up 10m
  2. Question 3 - Part a 5m
  3. Question 3 - Part b 27m

Modern tuition

Expert video, with a tutor in every lesson.

Built and taught by people who have lectured this material for years, with an AI Tutor sitting inside each lesson to answer the question you have right now.

Experts Former Kaplan and BPP lecturers and academics from major UK universities.
AI Tutor Ask a question inside the lesson and get an answer grounded in that lesson.
Pick up where you left off Your progress is saved lesson by lesson, so you always come back to the right place.

AI Tutor in every lesson

"Can you go through the Mergers and acquisitions part again, more simply?"

Of course. Here is the short version from this lesson, then the worked example again, one step at a time.

Advanced investment appraisal: real options and APV 4:12
Mergers and acquisitions: valuation and financing 7:38
Treasury management and multinational finance 5:02
Complex foreign exchange risk management 9:20

ACCA Strategic Professional

AFM is one of the four Strategic Professional Options. You sit SBL and SBR, plus two of the four Options.

See all of Strategic Professional →

SBL Strategic Business Leader
SBR Strategic Business Reporting
AAA Advanced Audit and Assurance
AFM Advanced Financial Management You are here
APM Advanced Performance Management
ATX Advanced Taxation

Personalised ACCA pack

AFM is £199 on its own, or Strategic Professional for £499.

Tell us which ACCA papers you have already passed, or are exempt from taking. We have pre-ticked everything ACCA requires before AFM - adjust it if that is not you.

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Questions

The things students ask before buying.

What does the AFM course include?

Expert video lessons from qualified-accountant tutors across the AFM syllabus, with an AI Tutor in every lesson and your progress saved as you go. £199 on its own, with lifetime access.

How is AFM examined?

The AFM exam is 3h 15m long. AFM is sat in the March, June, September and December sessions.

Does the course cover the whole AFM syllabus?

Yes. The video lessons cover every section of the AFM syllabus, and the AI Tutor in each lesson answers questions on it as you study.

Do ACCA courses include mock exams?

ACCA courses are taught courses: video lessons with an AI Tutor in every lesson. Online mock exams with marking are part of our CIMA courses.

Is it cheaper to buy the whole Strategic Professional level?

The Strategic Professional pack is £499 and covers every paper in the level, however many you have left. Anything you have already bought comes off the pack price, so buying one paper first never costs you more.

How long do I have access?

Lifetime access, on every course. There is no subscription and no renewal - if you need to resit, or come back to the material years later, it is still there.

Ready for a clearer route to your AFM exam?

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Buy AFM · £199