Study Session 6: Financial Reporting and Analysis: An Introduction
Here’s my version of dumbed down FSA. I’m hoping this helps someone who like me can’t seem to get things straight. Please feel free to correct my errors. Goodluck to us all
How assets are carried on Balance sheet/Income statement.
Cash and Cash Equivalent :
Measured on Balance sheet at Fair Value under both IFRS and US GAAP
Only three types:
Does anyone know the changes in Schweser Notes from 2011 to 2012? Would greatly appreciate any help.
I am using the 2011 notes and have heard that there have been changes made to 2012. If you know what topics have changed, I would greatly appreciate it. Thanks
hello, any one knows the meaning of by funcion and by nature, and how to distinguish it?
Just going through FRA 2nd read-through. I was wondering if anyone had any tips for remembering all the differences between USGAAP and IFRS?
I downloaded the following which is quite helpful in summarizing ALL the differences but it’s still way more information than I think I’ll ever be able to retain for the exam (in addition to all the other stuff we already have to remember).
(pp 546 in Volume II) shows:
Change in expenditure= (1-E) * %change in P
How did they derive this from E=- change in Q/ change in P? I’m not understanding the arithmetic here.
I can recall how hard it was for me to remember the similarities and differences between IFRS & USGAAP. Eventually to cope with them I ended up in making a comparison chart which really helped me out in revising when the exam was approaching. I found a more organized and sorted out comparison chart between IFRS and USGAAP here http://www.finquiz.com/tips
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