If you are preparing for ACCA and entering the Applied Skills level, ACCA F9 is one of the most important and scoring papers. Now officially known as Financial Management (FM), ACCA F9 focuses on financial decision-making, investment appraisal, risk management, and working capital management.
In this blog, we will cover the syllabus, exam pattern, preparation strategy, and tips to clear ACCA F9 in your first attempt.
What is ACCA F9?
ACCA F9 (Financial Management) is part of the Applied Skills level offered by the Association of Chartered Certified Accountants (ACCA).
The paper is designed to develop knowledge and skills in managing the financial resources of an organization effectively.
Although the paper is now officially called “Financial Management (FM)”, many students still refer to it as ACCA F9.
ACCA F9 Syllabus Overview
The ACCA F9 syllabus is divided into the following major areas:
1️⃣ Financial Management Function
Objectives of financial management
Financial management environment
Agency theory and stakeholder objectives
2️⃣ Working Capital Management
Inventory management
Receivables management
Payables management
Cash management
3️⃣ Investment Appraisal
NPV (Net Present Value)
IRR (Internal Rate of Return)
Payback Period
Discounted Cash Flow techniques
This is one of the most important scoring areas in ACCA F9.
4️⃣ Business Finance
Sources of finance
Cost of capital
Capital structure
Gearing
5️⃣ Risk Management
Foreign exchange risk
Interest rate risk
Hedging techniques
Derivatives basics
ACCA F9 Exam Pattern
The ACCA F9 exam is a Computer-Based Exam (CBE) with the following structure:
Duration: 3 hours
Total Marks: 100
Section A: Objective test questions
Section B: Case-based objective questions
Section C: Constructed response (long questions)
Section C typically includes:
Investment appraisal question
Working capital or business finance question
Proper time management is crucial to score well in ACCA F9.
Difficulty Level of ACCA F9
Many students find ACCA F9 moderately challenging because:
It is calculation-heavy
Requires strong conceptual clarity
Involves interpretation of financial data
However, with consistent practice, it is considered a high-scoring paper.
How to Prepare for ACCA F9
✔️ Master Investment Appraisal
NPV and IRR questions frequently appear in Section C. Practice different scenarios.
✔️ Practice Exam Kits Thoroughly
Use Kaplan or BPP practice kits for structured question-solving.
✔️ Focus on Working Capital
Conceptual understanding + numerical practice is key.
✔️ Improve Calculator Speed
Quick and accurate calculations save time during the exam.
✔️ Attempt Mock Exams
Simulate real exam conditions before attempting ACCA F9.
Best Study Resources for ACCA F9
For effective preparation of ACCA F9, use:
Kaplan Textbook & Exam Kit
BPP Study Text & Practice Kit
Official ACCA past papers
Examiner reports
Official resources provided by the Association of Chartered Certified Accountants are extremely important to understand examiner expectations.
Passing Percentage of ACCA F9
Historically, the pass rate of ACCA F9 ranges between 45%–55%, making it achievable with proper preparation and practice.
Career Relevance of ACCA F9
The knowledge gained in ACCA F9 is directly applicable to roles such as:
Financial Analyst
Corporate Finance Executive
Treasury Analyst
Investment Analyst
It builds a strong foundation for advanced Strategic Professional papers.
Final Thoughts
ACCA F9 is a crucial paper that strengthens your financial management and decision-making skills. While it requires consistent practice and conceptual clarity, it is highly manageable with the right preparation strategy.
If you build strong fundamentals and focus on exam-oriented practice, clearing ACCA F9 in your first attempt is absolutely achievable.