Hi, I did not really study FSA for level I (read Secret Sauce only). Is it necessary to read the level I book to understand level II FSA? Thanks!
You passed with only Secret Sauce? Power to you.
No, power to Secret Sauce 
No need to read L2 FSA. If it ain’t broke don’t fix it.
Haha! Seems like a risky strategy on L2. So back to the original question… Anyone?
You can do decent on FSA level 1 without reading the book, some things are from college. But there is no way you can learn FSA level 2 from notes. There is soo much more to remember then level one even if the material is actually much less. Currency translation, consolidations, pensions…a lot of accounting.
Hi mik82, Just wanted to know if you can provide a little more insight into preparation for L2 , we guys just cleared L1 and are planning to give L2 this june. Any guidance and suggestions are welcome . Regards Varun
Ok, thanks for the feedback. I am planning on reading the CFAI book for L2 FSA. I was just wondering if it would be enough to do well on the exam or if I should first go back to the CFAI L1 book (since I only used the Secret Sauce for L1 FSA). Thanks!
To give you a serious answer, the two FSA readings “Reporting quality” and “a synthesis” are pretty much the entire L1 FSA curriculum all over again, or at least that’s what I’m getting from it. So yes you need to know it, whether or not you need to read it again I can’t answer.
supersharpshooter Wrote: ------------------------------------------------------- > To give you a serious answer, the two FSA readings > “Reporting quality” and “a synthesis” are pretty > much the entire L1 FSA curriculum all over again, > or at least that’s what I’m getting from it. So > yes you need to know it, whether or not you need > to read it again I can’t answer. +1. I was thinking the same thing.
you still need to understand deferred taxes which is part of SS9 in L1 and what goes into AOCI so you might want to take a look at those sections, but from what ive seen in the FSA for L2, i dont think it’s necessary to go back and review other areas from L1 like leases, off balance sheet financing, and financiing liabilities. there are totally new sections now.
Wake, have you studied the final SS of FSA yet? It seems to me to be a capstone of all FSA previously studied.
i skimmed over it. alot of it seems intuitive though. you might be right to go over SS8 briefly from L1 if you struggled with understanding basic accounting concepts, but not necessary to do an in-depth review imho.
ehh you should probably take a look at reading 27 wake2000 it’s pretty much the entire L1 fsa curriculum summed up in one reading
I can’t speak as to whether ehpotsirhc will have to review L1 FSA or not. Truth is, FSA was one of my strengths in L1 so the final SS for L2 didn’t seem so tough. However, I can’t speak as to whether it would have been that way if I didn’t have a good understanding of the L1 material.
Thank you all for the useful info.
read shweser book 0 it gonna help
Book 0? What is that?
Book 0 sums up level one material