CFA 2019 Schweser - Level 1 SchweserNotes Book 3: FINANCIAL REPORTING AND ANALYSIS

Contents......Page 2
List of pages......Page 5
Learning Outcome Statements (LOS)......Page 13
Module 21.1: Financial Statement Roles......Page 21
Module 21.2: Footnotes, Audit, and Analysis......Page 23
Key Concepts......Page 27
Answer Key for Module Quiz......Page 29
Module 22.1: Standards Overview......Page 30
Module 22.2: IFRS and U.S. GAAP......Page 33
Module 22.3: Financial Reporting Framework......Page 37
Key Concepts......Page 40
Answer Key for Module Quizzes......Page 43
Module 23.1: Income Statement Overview......Page 45
Module 23.2: Percentage of Completion......Page 47
Module 23.3: Installment Sales......Page 50
Module 23.4: Expense Recognition......Page 55
Module 23.5: EPS and Dilutive Securities......Page 62
Module 23.6: Common-Size Income Statements......Page 69
Key Concepts......Page 73
Answer Key for Module Quizzes......Page 77
Module 24.1: Balance Sheet Introduction......Page 81
Module 24.2: Assets and Liabilities......Page 82
Module 24.3: Current Assets and Liabilities......Page 83
Module 24.4: Noncurrent Assets and Liabilities......Page 87
Module 24.5: Intangible Assets......Page 88
Module 24.6: Marketable Securities......Page 89
Module 24.7: Shareholders' Equity and Ratios......Page 92
Key Concepts......Page 99
Answer Key for Module Quizzes......Page 102
Module 25.1: Cash Flow Introduction......Page 104
Module 25.2: The Direct and Indirect Methods......Page 112
Module 25.3: Converting Direct to Indirect......Page 121
Module 25.4: Free Cash Flow and Ratios......Page 125
Key Concepts......Page 130
Answer Key for Module Quizzes......Page 133
Module 26.1: Introduction to Financial Ratios......Page 136
Module 26.2: Financial Ratios, Part 1......Page 142
Module 26.3: Financial Ratios, Part 2......Page 147
Module 26.4: DuPont Analysis......Page 156
Module 26.5: More Financial Ratios......Page 161
Key Concepts......Page 167
Answer Key for Module Quizzes......Page 169
Module 27.1: Cost Flow Methods......Page 171
Module 27.2: Inventory Systems......Page 176
Module 27.3: Converting LIFO to FIFO......Page 181
Module 27.4: Inventory Valuation......Page 185
Module 27.5: Inventory Analysis......Page 189
Key Concepts......Page 195
Answer Key for Module Quizzes......Page 199
Module 28.1: Capitalization vs. Expensing......Page 202
Module 28.2: Depreciation......Page 208
Module 28.3: Impairment and Revaluation......Page 214
Module 28.4: Leases and Fixed Asset Disclosures......Page 221
Key Concepts......Page 229
Answer Key for Module Quizzes......Page 233
Module 29.1: Tax Terms......Page 235
Module 29.2: Deferred Tax Liabilities and Assets......Page 236
Module 29.3: Deferred Tax Examples......Page 240
Module 29.4: Change in Tax Rates......Page 242
Module 29.5: Permanent Differences......Page 244
Key Concepts......Page 253
Answer Key for Module Quizzes......Page 256
Module 30.1: Bond Issuance......Page 258
Module 30.2: Discount and Premium Bonds......Page 260
Module 30.3: Issuance Cost, Derecognition, and Disclosures......Page 264
Module 30.4: Lessee Accounting......Page 268
Module 30.5: Lessor Accounting......Page 274
Module 30.6: Pension Plan Accounting......Page 277
Key Concepts......Page 283
Answer Key for Module Quizzes......Page 286
Module 31.1: Reporting Quality......Page 288
Module 31.2: Accounting Choices and Estimates......Page 295
Module 31.3: Warning Signs......Page 298
Key Concepts......Page 301
Answer Key for Module Quizzes......Page 304
Module 32.1: Forecasting......Page 306
Module 32.2: Credit and Equity Analysis......Page 308
Key Concepts......Page 314
Answer Key for Module Quiz......Page 315
Topic Assessment: Financial Reporting and Analysis......Page 317
Topic Assessment Answers: Financial Reporting and Analysis......Page 321
Formulas......Page 324