Financial Reporting And Analysis Cfa Level 1 Pdf

financial reporting and analysis cfa level 1 pdf

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This large topic area covers all manners of financial reporting techniques, conventions and policies, with an emphasis on comparability between companies. This is a big topic area, so make sure you pay extra attention to it! What is Financial Reporting and Analysis about, in a nutshell?

Please note, all information was obtained through my Schweser books from , which means that there have probably been a couple of updates that you won't see here, and formatting might be a bit off with some of the lists due to copying and pasting from Word into Reddit. Statement of comprehensive income: reports all changes in equity except for shareholder transactions issuing stock, share repurchases, paying dividends. Going concern: assumption that the firm will continue to operate for the foreseeable future. Accrual accounting: revenue recognized when earned, expenses recognized when incurred does not necessarily coincide with the receipt or payment of cash.

financial reporting and analysis cfa level 1

Please note, all information was obtained through my Schweser books from , which means that there have probably been a couple of updates that you won't see here, and formatting might be a bit off with some of the lists due to copying and pasting from Word into Reddit. Statement of comprehensive income: reports all changes in equity except for shareholder transactions issuing stock, share repurchases, paying dividends.

Going concern: assumption that the firm will continue to operate for the foreseeable future. Accrual accounting: revenue recognized when earned, expenses recognized when incurred does not necessarily coincide with the receipt or payment of cash. GAAP : revenue, expenses, and profit recognized as work is performed. GAAP: All revenue, expenses, and profit are recognized only when the contract is complete.

GAAP: Revenue recognized at fair value only if firm has historically received cash payments for such goods and services and can use historical experience to determine fair value. If not, revenue recorded at carrying value. Liquidity-based presentation: presents A and L in order of liquidity not applicable to U. Current assets: cash and other assets that are likely to be converted into cash or used up within one year or one operating cycle, whichever is greater.

Current liabilities: obligations that will be satisfied within one year or one operating cycle, which is greater. Types of current assets: cash and cash equivalents, marketable securities, accounts receivable, and inventories. Other current assets: amounts that may not be material if shown separately items combined into a single amount. Types of current liabilities: accounts payable, notes payable, current portion of long-term debt, accrued liabilities accrued expenses , taxes payable, unearned revenue.

Goodwill: excess of purchase price over fair value of identifiable NET assets A — L acquired in a business acquisition. Comprehensive income vs accumulated other comprehensive income: the former includes net income and OCI and is an income measure over a period of time. Noncash transactions: must be disclosed in either a footnote or supplemental schedule to the cash flow statement.

Periodic inventory system vs perpetual inventory system: inventory values and COGS determined at end of accounting period purchases added to beginning inventory to arrive at COGS available for sale vs values are updated continuously inventory purchased and sold is recorded directly in inventory when transaction s occur. Net realizable value: expected sales price less estimated selling costs and completion costs. If there is a subsequent recovery in value, the item can be written up by no more than what it was written down for.

Gain is recognized in income statement. Capitalizing vs expensing: recorded as an asset on the balance sheet at cost vs an expense on the income statement. Identifiable intangible asset: can be separated from firm or arise from contractual or legal right, controlled by firm, expected to provide future economic benefit.

Unidentifiable intangible asset: once that cannot be purchased separately and may have an indefinite life goodwill. Historical cost: original purchase price of asset including installation and transportation costs.

Lessee will record depreciation expense on asset and interest expense on liability. Permanent tax difference: does not result in DTLs or DTAs and are not expected to reverse can be caused by revenue that is not taxable, expenses that are not deductible, or tax credits that result in a direct reduction of taxes.

Bond redeemed prior to maturity: gain or loss is recognized by subtracting the redemption price from the book value of bond at reacquisition date. Temporary increases from events such as changes in the exchange rate or liquidating a portion of inventory are not sustainable and are not of good quality.

Higher earnings from greater efficiency or increasing market share are sustainable and are of good quality. Why employ aggressive accounting methods? Conditions conducive to low-quality reporting: weak internal controls, inadequate oversight from board of directors, or applicable accounting standards provide a large range of acceptable accounting treatments, a lack of penalties in case of fraud, or both.

This is amazing! Procrastinated FRA for weeks - trying to cram it all in this weekend.. I am interested. Here is my gmail, t. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. All rights reserved. Want to join? Log in or sign up in seconds. Submit a new text post. Get an ad-free experience with special benefits, and directly support Reddit. Provide a new perspective that may solidify the key to understanding a topic. Rules Please follow these rules while using this subreddit.

Vague, overall thoughts are acceptable. Verbal abuse and harassment are not tolerated. Do not submit memes or advice animals. Welcome to Reddit, the front page of the internet. Become a Redditor and join one of thousands of communities. CFA submitted 2 years ago by WaffleWabbit. Below is part one of my FRA notes general notes , parts two and three will be posted shortly. Want to add to the discussion?

Post a comment! Create an account. This is my contribution to the group, take it or leave it. Thanks for these notes. Highly appreciated. And best of luck for the 1st.

Cfa Level I- Financial Reporting And Analysis- Smg.pdf

Dilutive securities and antidilutive securities can impact the calculation of earnings per share The principles provided by financial reporting standards facilitate the preparation of financial reports Literally the best youtube teacher out there. I prefer taking his lectures than my own course lecturer cause he explains with such clarity and simplicity. One of the best FRM material provider.

This document was uploaded by user and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this DMCA report form. Report DMCA. Home current Explore. Words: 1, Pages: Important Basic concepts www. Accrual basis 2.

As one of the largest sections of the exam, you will want to be familiar with the FRA formula sheet information, as many of the questions will involve giving you a snippet of information from a financial statement and asking you to calculate a specific value from that. Knowing which data points go into specific formulas will be necessary to get a good score here. These statements are prepared according to specific standards based on where the company is located. These notes include important information about risks the company faces, estimates used in preparing the financial statements, and performance of specific business units within the company. The curriculum specifies a 6 step framework for financial statement analysis, which goes as follows:. The purpose of having standards for the preparation of financial statements is to provide consistency between different companies.


1. LOS a: Describe the roles of financial reporting and financial statement analysis Financial Reporting and Analysis, CFA Program Level I Curriculum.


CFA ® Program Curriculum 2019 • LEVEL I • VOLUME 3

Skip to content. All Homes Search Contact. Course Complexity: Intermediate.

Level 1 is likely easier for accountants and CPAs because it deals with basic financial accounting. Accounting is a bunch of rules and sometimes, it may not be the most logical. Hope your CFA preparations are going to plan! You can have a look at CFA oriented forums such as hours and analystforum. IFT videos are amazingly comprehensible.

Yes free information is always available on the internet.

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Вы не шутите. - Если бы я шутил… Я поставил его вчера в одиннадцать тридцать вечера. Шифр до сих пор не взломан. Сьюзан от изумления застыла с открытым ртом. Она посмотрела на часы, потом на Стратмора. - Все еще не взломан. Через пятнадцать с лишним часов.

Сьюзан застенчиво улыбнулась. - Если будет еще интереснее, чем этой ночью, я не смогу встать.

Беккер мрачно кивнул. - Кому вы его продали. Тучный немец в полном недоумении сидел на кровати. Надежды на романтический вечер рушились по непонятной причине.

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Level I is comprised of ten topics which are shown below.

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