FRA topics

Hi All, Stalla lecture videos and lecture notes for SS7 start with a review of FRA level 1 materials. My question is, how much of the level 1 FRA materials must be know for the level 2 exam. For example, do we need to know all the details on DTA and DTL that were covered in level 1 syllabus? Thanks.

i have done fra and I did not find any thing which was required from level 1 except for perhaps just the the bond amortization premium and discounting. basically the the bond accounting .

inter corporate investments were in the L1 2008 CFAI books so helped there, otherwise idk, just moving to pensions, saved FSA for last!

northeastern how much syllabus u have left with?

I hope you guys are right. I am not sure why Peter Olinto said we need to know all the level 1 FRA materials. The Stalla lecture videos and lecture notes for Study Session 7 start with a review of level 1 FRA topics. I have forgotten some stuff about deferred taxes and operating vs capitalizing leases. And to recall all the differences between US GAAP and IFRS for the level 1 FRA materials would be a nightmare!

You still have to know the differences btw US GAAP & IFRS from the level 1 FRA materials for sure. Plus, you still have to remember operating vs capital leases. Have seen many questions in both CFAI & Schweser relating to these sections.

If you generally understood what you read in L1 FRA, that should be enough. You dont have to recall all of those specifics again. As and when some of those are used in L2 material, they would come back to you surprisingly! And any particularly required L1 specific will be discussed again in the material. So, dont worry too much on that. Anyways, if Stalla is giving you a kind of one hour summary or similar, you could consider investing that much time.

Damil4real Wrote: ------------------------------------------------------- > You still have to know the differences btw US GAAP > & IFRS from the level 1 FRA materials for sure. > Plus, you still have to remember operating vs > capital leases. Have seen many questions in both > CFAI & Schweser relating to these sections. I will take Damil’s opinion seriously and let it overrule mine. He has done many more questions in FSA than most of us here.

Thank you for the replies. I am doing exactly what Damil suggested. In general, I understand the FRA level 1 materials. But there are details of the differences between US GAAP and IFRS that were covered in level 1 that I just cannot recall (for example, the difference in goodwill impairment calculation).

d31dy Wrote: ------------------------------------------------------- > Thank you for the replies. I am doing exactly what > Damil suggested. In general, I understand the FRA > level 1 materials. But there are details of the > differences between US GAAP and IFRS that were > covered in level 1 that I just cannot recall (for > example, the difference in goodwill impairment > calculation). For instance, I posted some questions a few days ago that reflected goodwill impairment calculations under US GAAP vs IFRS. http://www.analystforum.com/phorums/read.php?12,1109032

Schweser’s classes on FRA start this week and go for three sessions. They’ve recommended to review the L1 concepts of bit, but nothing major. I get chills just thinking about opening the books on this dreadful topic…