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Study Session 6: Financial Reporting and Analysis: An Introduction

financial statements under ifrs

Please explain this to me and give examples:
“Assets may not be offset against liabilities unless specifically permitted or required by a standered”

im very thankfull.

CFA L1 2015 Cancun Mexico

Hi Everyone, are there any CFA candidates in the Cancun/Playa del Carmen area so we can form a study group for the L1 2015 exam?

Contributed Capital definition

Hello guys,

Does contributed capital include 1. investors who have purchased shares in a company (and have become shareholders) and 2. Shareholders who have purchased additional shares?

Not feeling secure to move on

I’m at SS7, at that’s probably the most boring SS so far… and I’m scoring over 90% on Qbank, Schweser Notes and CFAI EOC, and I can’t move on, I simply can’t recall all the characteristics of a coherent financial reporting framework, and those stuffs from R24. Should I move on or keeping reviewing until I can see the text in my mind? 

changes in cfa syllabus

i was refering to the videos of 2011 for cfa level 1, so can anyone tell me how much the syllabus has changed for level 1 since 2011

Reduction of Profit (Intersection between Accounting and Econ)

Hello All,

I have a very fundamental question, which is at the intersection of Accounting and Econ.

Let’s say I have a company that has projected the following numbers:

Revenues : $200

Raw Material, Labor and Material : $150

Overhead : $40

Gross Profit : $10

Now, if I reduce the quantity produced by 20% then will my raw material, labor and material expenses also go down by 20%? I am not sure about this because of three reasons:

Taxation on Equity

Hello All,

Quick three questions on taxation on equities:

#1 While calculating Cost of Capital, we use after-tax market value of Debt. However, for equity, we don’t use after-tax at all (i.e. we don’t multiply the market value of Equity with (1-t))? Why so? Is it that the companies don’t pay taxes on the funds raised through equity? I am curious.

EBIT vs Operating Income

Hello All,

I was going through my notes, and I realized that I have equated EBIT with Operating profit, which doesn’t include non-operating revenue items, because Schweser freely does so.