2016年CFA备考生的CFA笔记节选
发表时间： 2017/01/12
对于每一个CFA考生来说，在备考CFA前需要了解自身学习背景与CFA课程相关内容权重，这是一个良好的学习规划必不可少的一部分。
CFA考试内容主要为以下10个点；
1. 道德和职业标准
2. 数量方法
3. 经济学（迈克·帕金版）
4. 财务报表分析
5. 公司金融
6. 投资组合管理
7. 权益类投资分析
8. 固定收益证券分析
9. 衍生工具分析与应用
10. 其它类投资分析。
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下面是金程北京CFA小编整理的CFA优秀学员的重点笔记内容节选，帮助大家清楚了解CFA必考点和试题。在线索取2016年6月CFA网课及Handbook 》》
Valuing assets at the amount of cash or equivalents paid or the fair value of the consideration given to acquirethem at the time of acquisition most closely describes which measurement of financial statement elements?
Valuing assets at the amount of cash or equivalents paid or the fair value of the consideration given to acquirethem at the time of acquisition most closely describes which measurement of financial statement elements?
A. Current cost.
B. Historical cost.
C. Realizable value
B is correct. Historical cost is the consideration paid to acquire an asset.
这里仍然充分体现了定义的重要性，针对纷繁的金融概念，要抓住重点，注意理解historical cost: the amount of cash or cash equivalent paid to purchase an asset, including any costs ofasquisition and/or preparation. Amortised cost: Historical cost adjusted for amortisation, depreciation, ordepletion and/or impairment.Current cost: In reference to assets, current cost is the amount of cash or cashequivalents that would have to be paid to buy the same or an equivalent asset today. In reference to liabilities,the current cost basis of measurement means the undiscounted amount of cash or cash equivalents that would berequired to settle the obligation today.
Realizable (settlement) value: In reference to assets, realizable value is the amount of cash or cash equivalentsthat could currently be obtained by selling the asset in an orderly disposal. For liabilities, the equivalent torealizable value is called “settlement value”—that is, settlement value is the undiscounted amount of cash orcash equivalents expected to be paid to satisfy the liabilities in the normal course of business.
Present value (PV): For assets, present value is the present discounted value of the future net cash inflows thatthe asset is expected to generate in the normal course of business. For liabilities, present value is the presentdiscounted value of the future net cash outflows that are expected to be required to settle the liabilities in thenormal course of business.
Fair value: Fair value is the amount at which an asset could be exchanged, or a liability settled, betweenknowledgeable, willing parties in an arm’s length transaction.
>>CFA备考秘诀分享会（北京专场）
>>CFA备考秘诀分享会（北京专场）
2016-01-16 CFA一级作业集锦和读书笔记自我点评13
If a firm raises $10 million by issuing new common stock, which of its financial statements will reflect thetransaction?
If a firm raises $10 million by issuing new common stock, which of its financial statements will reflect thetransaction?
A. Income statement and statement of owners'; equity.
B. Balance sheet, income statement, and cash flow statement.
C.Balance sheet, cash flow statement, and statement of owners'; equityC is correct. The $10 million raised appears on the cash flow statement as a cash inflow from financing and on thestatement of owners'; equity as an increase in contributed capital. Both assets (cash) and equity (common stock)increase on the balance sheet. The income statement is unaffected by stock issuance.
发行新股也会影响到cash flow。此外会计恒等式中的各项可以被分割成更细的小项，考试可能会考细致的分析The basic accounting equation: assets = liabilities + owners'; equity;
The expanded accounting equation: assets= liabilities + contributed capital + ending retained earnings; The expanded accounting equation can also bestated as: assets = liabilities + contributed capital + beginning retained earnings + revenue - expenses -dividends
2016-01-16 CFA一级作业集锦和读书笔记自我点评14
which of the follwing statements least accurately describes a role of financial statement analysis?
The expanded accounting equation: assets= liabilities + contributed capital + ending retained earnings; The expanded accounting equation can also bestated as: assets = liabilities + contributed capital + beginning retained earnings + revenue - expenses -dividends
2016-01-16 CFA一级作业集锦和读书笔记自我点评14
which of the follwing statements least accurately describes a role of financial statement analysis?
A.use the information in financial statements to make economic decision;
B.provide reasonable assurance that thefinancial statements are free of material errors;
C.ecaluate an entity';s financial position and pastperformance to form opinions about its future ability to earn profits and generate cash flowB describes the role of auditor: providing reasonable assurance that the financial statemenes contain no materialerrors.
B.provide reasonable assurance that thefinancial statements are free of material errors;
C.ecaluate an entity';s financial position and pastperformance to form opinions about its future ability to earn profits and generate cash flowB describes the role of auditor: providing reasonable assurance that the financial statemenes contain no materialerrors.
答案：B可以从课本原文中找出
The role of financial reporting is to provide a variety of users with useful information about a company';sperformance and financial position.
The role of financial statement analysis is to use the data from financialstatements to support economic decision.
The role of financial statement analysis is to use the data from financialstatements to support economic decision.
2016-01-16 CFA一级作业集锦和读书笔记自我点评15
which is least likely one of the conclusions about the impact of a change in financial reporting standards thatmight appear in management';s discussion and analysis?
A. Management has chosen not to implement the new standard.
which is least likely one of the conclusions about the impact of a change in financial reporting standards thatmight appear in management';s discussion and analysis?
A. Management has chosen not to implement the new standard.
B. management is currentlt evaluating the impact of the new standard.
C. The new standard will not have a materialimpact on the company';s financial statementsA is correct. Management can discuss the impact of adopting the new standard, conclude that it does not apply orwill have no material impact, or state that they are still evaluating the potential impact
两个最主要的标准制定机构是：美国会计准则委员会（FSAB）和国际会计准则委员会（ISAB),为制定准则的私人组织；主要监管机构为美国证监会（SEC）和英国金融服务协会（FSA）。For a company issuing securities in the United States to meet its obligations under theSarbanes–Oxley Act, it ismandatory that management';s Report to Shareholders and discusses internal financial controls and theireffectiveness, as well as the company';s auditor';s opinion of these internal controls.
C. The new standard will not have a materialimpact on the company';s financial statementsA is correct. Management can discuss the impact of adopting the new standard, conclude that it does not apply orwill have no material impact, or state that they are still evaluating the potential impact
两个最主要的标准制定机构是：美国会计准则委员会（FSAB）和国际会计准则委员会（ISAB),为制定准则的私人组织；主要监管机构为美国证监会（SEC）和英国金融服务协会（FSA）。For a company issuing securities in the United States to meet its obligations under theSarbanes–Oxley Act, it ismandatory that management';s Report to Shareholders and discusses internal financial controls and theireffectiveness, as well as the company';s auditor';s opinion of these internal controls.
Quarterly or semiannually reports (interim report, to update info on performance and financial position) are notnecessarily auditedForm 8-K, M&A and disposals.
Form 10-K, annual report
Form 10-Q, quarterly report
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