掌握ACCA考試的知識點對學員來說是掌握財會知識的關鍵，在備考ACCA考試的時候，學員要重視每一次知識的學習，同時也要重視ACCA課程的學習。今天融躍小編給大家分享，ACCA考試：investment appraisal techniques that focus on risk！
1、project value at risk (VaR)
a）量化風險的一個現(xiàn)代方法包括使用正態(tài)分布的概念估計投資價值的可能變化。A modern approach to quantifying risk involves estimating the likely change in the value of an investment by using the concept of a normal distribution.
b）VAR 的意義： VaR 提供一個項目的潛在風險的指示。
The VAR provides an indication of the potential riskiness of a project. For example, if A invests in project B then it can be 95% confident that the present value will not fall by more than €1,471,000 over its life. Hence the project will still produce a positive net present value. However, there is a 5% chance that the loss could be greater than €1,471,000. With project C, the potential loss in value is smaller and therefore it is less risky. It should be noted that the VAR calculations indicate that the investments involve different risk. However, the cash flows are discounted at the same rate, which they should not be, since the risk differs between them.
到底如何選擇，看投資者的風險得好 risk appetite.
2、VS sensitivity analysis
Sensitivity analysis：
Sensitivity margin of X = NPV / PV of X
Sensitivity margin of price = NPV/PVof revenue
Sensitivity margin of volume = NPV / PV of contribution
Sensitivity margin of discounting rate = ( IRR - dr)/dr
ACCA考試的相關內(nèi)容分享就到這里，融躍教育為ACCA學員準備各種資料、免費代報名等服務，還有需要或不清楚的問題添加融躍教育老師微信rongyuejiaoyu。
