Disclosure and Disclaimer: This is a direct quote from the CFA Institute website:
The CFA Program is a graduate-level self-study program that combines a broad-based curriculum of investment principles with professional conduct requirements. It is designed to prepare you for a wide range of investment specialties that apply in every market all over the world.
To earn a CFA charter, you study for three exams (Levels I, II, III) using an assigned curriculum. If you pass all three exams and meet the professional and ethical requirements, you can become a regular member of CFA Institute, or “charterholder.”
Sunday, December 5, 2010
The CFA exam is finally over!
After weeks of mugging, I finally sat for the CFA level 1 exam today, and are quite satisfied with the exam experience (that's because I didn't try to check my answers at all!)
It's finally over, and now I should have more time to blog ;) (and change some of the wordings in my blog to comply with CFA professional code of conduct)
It's finally over, and now I should have more time to blog ;) (and change some of the wordings in my blog to comply with CFA professional code of conduct)
Saturday, October 2, 2010
R-46 Working Capital Management
a. describe primary and secondary source of liquidity and factors that influence a company's liquidity position
b. compare a company's liquidity measures with those of peer companies
c. evaluate overall working capital effectiveness of a company, using the operating and cash conversion cycles, and compare its effectiveness with other peer companies
d. identify and evaluate the necessary tools to use in managing a company's net daily cash position
e. compute and interpret comparable yields on various securities, compare portfoio returns against a standard benchmark, and evaluate a company's short-term investment policy guidelines
f. assess the performance of a company's accounts receivable, inventory management, and accounts payable functions against historical figures and compare peer company values
g. evaluate the choices of short-term funding available to a company and recommend a financing method
b. compare a company's liquidity measures with those of peer companies
c. evaluate overall working capital effectiveness of a company, using the operating and cash conversion cycles, and compare its effectiveness with other peer companies
d. identify and evaluate the necessary tools to use in managing a company's net daily cash position
e. compute and interpret comparable yields on various securities, compare portfoio returns against a standard benchmark, and evaluate a company's short-term investment policy guidelines
f. assess the performance of a company's accounts receivable, inventory management, and accounts payable functions against historical figures and compare peer company values
g. evaluate the choices of short-term funding available to a company and recommend a financing method
Friday, August 13, 2010
LOS 38.b
deferred tax liabilities
income tax expense > taxes payable
- revenue recognized earlier, incurs tax later
- expenses tax-deducted earlier, recognized later
e.g. due to depreciation method
deferred tax assets
taxes payable > income tax expense
- revenue incurs tax earlier, recognized later
- expenses recognized earlier, tax-deducted later
e.g. post employment benefit, warranty expenses, tax loss carryforwards
income tax expense > taxes payable
- revenue recognized earlier, incurs tax later
- expenses tax-deducted earlier, recognized later
e.g. due to depreciation method
deferred tax assets
taxes payable > income tax expense
- revenue incurs tax earlier, recognized later
- expenses recognized earlier, tax-deducted later
e.g. post employment benefit, warranty expenses, tax loss carryforwards
Tuesday, July 27, 2010
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