A thorough round-up of key concepts before the exam is a must for every test-taker. This is where the Wiley’s 11th Hour Guide scores big marks. The book is designed to help CFA Level 1 exam takers to do a final practice run-up by going through the most important concepts as well as formulas. Designed

# CFA Exam Level 1

## Accounting for Income Taxes

A company’s accounting policies (such as depreciation choices, and valuation of assets) can cause differences in taxes reported in financial statements and taxes reported on tax returns. In this lesson “Income Taxes” we will learn about several issues relating to deferred taxes.

## Long-lived Assets

Long-lived assets refer to the long term assets that include property, plant and equipment (PPE), natural resources, intangible assets, and financial assets.

## Inventory Analysis

In this lesson, we will discuss the various methods for valuing inventory, namely, LIFO, FIFO and weighted average cost method. The measurement of inventory cost is important because it is one of the largest current assets in most firms and is also a crucial factor for determining the gross profits of the firm. We will

## Sampling and Estimation

In the real world, it is often not possible to collect data about an entire population to conduct a statistical analysis. For example, to make conclusions about the saving habits of families in a city, it would be impractical to collect and analyse savings data about each and every family in the city. Instead, a

## Common Probability Distributions

Introduces some of the discrete and continuous probability distributions most commonly used to describe the behavior of random variables.

## Probability Concepts

## Statistical Concepts and Market Returns

## Discounted Cash Flow Applications

## Time Value of Money

This reading provides an introduction to the concepts and techniques of time value of money. These techniques are a fundamental tool for financial analysis, corporate finance, valuation, and other investment decisions.