Study Session 9: Financial Reporting and Analysis: Financial Reporting Quality and Financial Statement Analysis
CFAI Text Vol 3, P645, EOC Q8 (P.662) & solution (P.664)
Is it that only the unrealized gains and losses on available-for-sale debt securities shall be recognozed in income statement under IFRS ? How about the available-for-sale equity securities ?
Anyone can clarify ?
I pretty much always miss these questions because I never seriously read them in the readings. The only thing I know is that IFRS says something about “future economic benefits”… or maybe it’s “probable.”
How do you learn this information? Is there a list anywhere I can just rote learn?
I do not fully comprehend stock options….How do stock options impact taxes payable? Would it be possible to ask for a concrete example involving figures to illustrate? Thanks.
I am studying the curriculum books. I read the whole chapter and do the EOC questions. I recently finished studying FRA. Then I happened to do self-test quiz from Kaplan for FRA. Honestly 24 questions in that self-test were much harder than EOC questions in book.
Hi does anyone have a file that contains all the differences between IFRS and GAAP we need to know? Would really appreciate the help.
In Q10 it says calculate CFO and doesnt specify either IFRS or USGAAP.
Net Income = 1000
Decrease Interest Payable = 85
Gain on Equipment Sale = 45
Increase Accounts Payable = 90
Decrease Inventory = 35
Increase Prepaid Assets = 105
Depreciation = 85
Increase Taxes Payable = 125
My answer was CFO = 1000-85+90+35-105+85+125 = 1145
When I looked at the answer key it deducts a gain on sale of equipment in calculating the CFO . Isn’t gain on sale of equipment related to CFI and should be excluded from the CFO calculation?
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