Black scholes. Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › Black scholes. This topic has 1 reply, 2 voices, and was last updated 1 week ago by John Moffat. Viewing 2 posts - 1 through 2 (of 2 total) Author Posts July 30, 2022 at 4:47 pm #662177 Frooti Topics: 62Replies: 60☆☆ What is Pa , as I find in some questions it’s written as PV of cash inflows while in others it’s PV of future expenditure? July 31, 2022 at 8:40 am #662210 John MoffatKeymaster Topics: 57Replies: 49911☆☆☆☆☆ Pa is the PV of the future cash flows. Author Posts Viewing 2 posts - 1 through 2 (of 2 total) You must be logged in to reply to this topic. Log In Username: Password: Keep me signed in Log In