cfa level i curriculum book iii

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1、2012CFALevelICurriculumBookIIIJieWuThisworkislicensedundertheCreativeCommonsAttribution-NonCommercial-ShareAlike3.0License.2DISCLAIMER:Theauthorisnotresponsibleorliableforanyerrorcontainedinthisdocument.Theimagesarecollectedfromtheinternetandextractedfromthecurriculumbookthecopyrightsofwhichbelong

2、totheoriginalmakers.Chapter1FinancialReportingandAnalysis1.1AnIntroduction1.1.1FinancialStatementAnalysis:AnIntroductionbreakdown:thereare4sectionsSection2:scopeofanalysisSection3:sourceofinformationSection4:analysisframeworkthemesofnancialanalysis:pp.7,examinethepastandcurrentperformanceandnanc

3、ialpositioninordertoformexpectationsaboutfutureperformanceandnancialpositionperformance:assessmentofprotabilityandabilitytogeneratepositivecash owspp.7,prot.VS.cash ow:prot:revenue+otherincomeexpensecash ow:cashreceiptcashdisbursementpp.8,statementofcash owre ects:liquidity:theabilitytomeets

4、hort-termobligationssolvency:theabilitytomeetlong-termobligationsnancial exibility:pp.21,theabilityofthecompanytoreactandadapttonancialadversitiesandopportunitiesnancialposition:assets(controlledresources).VS.liabilitiesandequity(claimsagainstresources)completesetofnancialstatements:pp.11,four

5、+one;pp.25,thereistradeobetween exibilityandcomparabilitystatementofnancialposition:pp.11,i.e.balancesheetobjective:currentnancialpositionkeyelements:(1)assets(2)liabilities(3)owner'sequitywhichisdenedas:owner'sequity=assetsliabilities34CHAPTER1.FINANCIALREPORTINGANDANALYSISassetclassication

6、basedonownership:assets=owner'sequity+liabilitiesstatementofcomprehensiveincome:pp.17,onesinglestatement,oroneincomestate-ment(statementofoperations/protandloss(P&L)statement)+onestatementofothercomprehensiveincome(OCI)beginningwithprot/lossfromincomestatementobjective:presentsperformanceoverape

7、riodkeyelements:forincomestatement:(1)revenue(2)otherincome(3)expenses(4)netincomewhichisdenedas:netincome=revenue+otherincomeexpensespeculiarity:incomestatementsarereportedonaconsolidatedbasis,meaningtheyinclu