As a retaker, I was interested to see what changed between last years (2011) material and this years (2012) material so I did a comparison of the two LOS summaries. And there are sevenless readings in the new material compared to this previous year. Two of the readings were combined and added to so the grand total of readings is now 64 sections. Unfortunately, most of the readings that they removed were more of the “fluff” readings. Here’s a breakdown of the 2012 material compared to this past years. All the reading numbers are from the 2011 CFAI material: Ethics - All the same Quant - All the same Econ - Removed Reading 17 - Balance of Payments section. No more interest rate parity and purchasing power parity or the balance of payments section. FRA - All the same CorpFin - In Reading 33 M&A - One LOS was removed about US antitrust legislation. Equity- Removed Reading 36 - Markets and Instruments No more ‘why is an ADR different from a closed country fund and ETF?’ Removed Reading 38 - No more life cycle and franchise value model In Readings 39 and 44 they simply changed an LOS or two - no reading changes. Alt Inv - Removed Reading 50 - Investing in Commodities No more contango vs backwardation Readings 51 and 52 - Both about Hedge Funds, were combined into one reading and new LOS were added, the only new reading in the material. Fixed Income - Removed Reading 54 No more conservative vs speculative vs ponzi Derivs - All the same PortMan - All the same My main reason for comparing was to see how much new reading there would have to be and how different would SchweserNotes be. Being a cheapo, I don’t want to fork over the money for new study materials (other than the CFAI) if I don’t have to. And looking at the 2012 LOS summary it doesn’t look I will be purchasing new stuff and using last years books. Sorry Schweser. Anyone else have comments on the new material?
well … there is minor changes in some of the LOS … for example they changed from discuss to explain this what have been changed in inventory reading a. explain and calculate the effect of inflation and deflation of inventory costs on the financial statements and ratios of companies that use different inventory valuation methods (cost formulas or cost flow assumptions); b. discuss (explain) LIFO reserve and LIFO liquidation and their effects on financial statements and ratios; c. demonstrate how to adjust (convert) a company’s reported financial statements from LIFO to FIFO for purposes of comparison; d. discuss (describe) the implications of valuing inventory at net realisable value for financial statements and ratios; e. analyze and compare the financial statements and ratios of companies, including those that use different inventory valuation methods; f. discuss (explain) issues that analysts should consider when examining a company’s inventory disclosures and other sources of information you have to be careful if they added calculate or compute good luck …
Purely from an educational perspective…why would CFAI delete the chapters in economics regarding Balance of payments / parity relations ?!..Thats weird!
Jordan84 Wrote: ------------------------------------------------------- > well … there is minor changes in some of the LOS > … for example they changed from discuss to > explain I did see this quite a bit. But I feel this is too minor of a detail to worry about. If I read and understand a section how can it be possible that I could discuss it but not explain it??? I know you’re point if they added compute to an LOS, but didn’t catch it in my general overview.
I’ve just viewed lv2 2012 curriculum, econ still have BOP but in a LOS rather than a Reading. I found something else, lv1 2012 curriculum’s econ is totally different, not based on M.Parkin’s work and I think new lv1 curriculum covers more useful things. Does anyone have any suggestions about best, understandable econ book?
Have many people used previous versions and PASSED? I’m in the same boat as biffyfries. Although I feel like reading CFAI texts for heavy weighted materials, Schweser for rest.
I passed Level I with year old Schweser materials.
I passed l2 with old material
I have 2010 Schweser notes. Do you guys think I can use that for 2012?
Material changes year over year. 2012 looks lot lighter than last year. You can compare last 2 years LOS at my site: SocratesCFA Wrote: ------------------------------------------------------- > I have 2010 Schweser notes. Do you guys think I > can use that for 2012?