Institute of Commercial Management | Qualification Subject

Financial Management

Main Topics of Study

The Construction of Financial Statements

  • Company accounts
  • Cash-flow statements

Using Accounting Information

  • Accounting ratios
  • Accounting standards

Management Accounting

  • Marginal costing
  • Budgeting
  • Capital investment appraisal

Sources of Business Finance

  • Long-term sources of finance
  • Short-term sources of finance

Mergers and Takeovers

  • Reasons for growth via horizontal, vertical, or conglomerate integration
  • Financing of growth
  • The construction of basic group accounts

Capital Markets

  • The function of stock exchanges
  • Share and bond issues
  • Rights and bonus issues

Example Candidate Response Booklet

Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).

Recommended Reading

Main Text:

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Finance & Accounting – R Giles (ICM)

Note: There is no single textbook that covers the syllabus. Finance and Accounting by Richard Giles can be used as a basic source book but must be supplemented by further reading from websites or textbooks such as Accounting for Non-Accounting Students (J R Dyson) and Business Accounting (F Wood).

Indicative Text:

Alternative Text and Further Reading:

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Accounting for Non-Accounting Students – J R Dyson (Prentice Hall)

Frank Wood’s Business Accounting 2 – Wood & Sangster (Pitman)