Cost of capital(資本成本)是什么_2023年ACCA考試FM知識點(diǎn)
鳥貴有翼，人貴有志。acca被稱為“國際財會界的通行證”，含金量比較高。每年都有大量考生報名參加考試。在備考初期，同學(xué)們需合理分配學(xué)習(xí)時間，制定學(xué)習(xí)計(jì)劃，爭取一次通過。今天為同學(xué)們整理了FM科目Cost of capital(資本成本)相關(guān)知識點(diǎn)，具體內(nèi)容如下。
【內(nèi)容導(dǎo)航】
Cost of capital-資本成本
【知識點(diǎn)】
Cost of capital-資本成本
The cost of capital can be analysed into three elements:
(a) Risk-free rate of return
This is the return which would be required from an investment if it were completely free from risk. Typically, a risk-free yield is the yield on government securities.
(b) Premium for business risk
This is an increase in the required rate of return due to the existence of uncertainty about the future and about a firm's business prospects. The actual returns from an investment may not be as high as they are expected to be. Business risk will be higher for some firms than for others, and some types of project undertaken by a firm may be more risky than other types of project that it undertakes.
(c) Premium for financial risk
This relates to the danger of high debt levels (high gearing). The higher the gearing of a company's capital structure, the greater will be the financial risk to ordinary shareholders, and this should be reflected in a higher risk premium and therefore a higher cost of capital.
心隨朗月高，志與秋霜潔。以上就是為大家整理的acca考試相關(guān)知識點(diǎn)，2023年6月acca考試在即，同學(xué)們要抓緊時間復(fù)習(xí)。
注：以上內(nèi)容來自Echo老師FM精講班第27講
(本文為東奧會計(jì)在線原創(chuàng)文章，僅供考生學(xué)習(xí)使用，禁止任何形式的轉(zhuǎn)載)
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