Possible topics for F8 and F9 - December 2011

F8
1. Tests of controls and substantive procedures on inventory/cash and bank
2. ISA 530 Audit sampling (probably in question 2)
3. Corporate governance with ethics
4. Audit risk
5. Review of subsequent events and mix some of the reporting elements (as usual)

F9
1. Investment appraisal - ROCE/ARR method, probability analysis (do June 2009 question 1), capital rationing
2. Cost of capital - cost of equity, cost of debt, WACC, MM's theories
3. Business finance - rights issue (theoretical ex-right price), sources of finance, dividend policy
4. Working capital management - cash (cash flow forecast, Miller-Orr model), identifying whether overtrading
5. Business valuation - P/E ratio method, dividend valuation/growth model
6. Risk management - causes of interest rate fluctuations
These topics will be squeezed into 4 questions.

The above are "possible" topics, which mean not more than 50% chance, so be careful ;)