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2015年ACCA考试科目—P1商业风险讲义

发表时间:2015-09-21 来源:
【编者按】金程网校小编为考生整理分享了ACCA考试科目—P1商业风险的讲义大纲,帮助学员加强备考2015年ACCA考试,为学员提供专业的培训服务。

距离2015年12月份ACCA考试时间越来越近,考生们复习的怎么样了?金程网校小编给大家整理了ACCA考试科目 P1《商业风险》的重点讲义笔记,供大家参考。2015年ACCA考试讲义+大纲+真题免费获取》》

ACCA P1讲义总结
Spreading/Diversifying risks

(1) Diversification is based on the idea of ‘spreading the risk’, which relates to portfolio management. The total risk should be reduced as the portfolio of diversification gets larger.
(2) Risk can be diversified in terms of financial management and market/product management.
(3) Diversification only works where returns from different business are not positively correlated.
(4) Risks that can be diversified away are referred to as unsystematic risk. The inherent risk – the systematic or market risk – cannot be diversified away.
 

Risk avoidance vs. Risk retention 
Risk avoidance and risk retention strategies relate in part to the risk appetite of the organization, and then the potential likelihood of each risk, and the impact/consequence of that risk.
 

Risk avoidance
(1) A risk strategy by which the organization avoids a risk. Organizations will often consider whether risk can be avoided and if so whether avoidance is desirable.
(2) A risk avoidance strategy is likely to be followed where an organization has a low risk appetite.
 

Risk retention
(1) A risk strategy by which an organization retains that particular risk within the organization. It is where the organization bears the risk itself.
(2) A risk retention strategy will be followed where the risk is deemed to be minimal or where other risk strategies are simply too expensive.
 

Risk Attitude and Necessity
Risk attitudes

(1) An organization’s attitude to risk is determined by its risk strategy, risk appetite and risk capacity. (a) the overall risk strategy determines the overall approach to risk; (b) the risk appetite determines how risks will be managed; (c) the risk capacity indicates how much risk the organization can accept.
(2) If the risk capacity has been reached, then the organization will tend to seek low-risk activities whereas risky projects may be undertaken.
(3) A high-risk appetite will indicate that the organization will normally seek a higher number of high risk/return activities whereas a low-risk appetite means a higher number of low risk/return activities preferred.
(4) The organization’s overall strategy is likely to have a portfolio of projects from which the overall risk appetite is met.
(5) A risk strategy of primarily self insurance, which implies risk minimization as an overall strategy, may limit the organization’s strategy regarding undertaking risky projects.
 

Necessity of risk
(1) Incurring an acceptable amount of risk tends to make a business more competitive whereas not accepting risk tends to make a business less dynamic.
(2) Incurring risk also implies that the returns from different activities will be higher. The benefits can be financial or intangible, which both will lead to the business being able to gain competitive advantages.

Risk attitude and organization
In general, a small, young company may have a higher risk appetite as it takes risks in order to get its product into the market whereas a larger, older company may appear to be more risk adverse as it seeks to protect its current market position.

以上内容希望能帮助大家掌握ACCA考试科目—P1的知识点,小编祝愿大家都能取得优异的成绩,更多ACCA考试经验请关注金程网校动态。

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