Articles
Internal Rate of Return
IRR is the case of a discount rate that equalizes the present value of cash inflows with present value of cash outflows....
Net Present Value
The net present value is the most commonly used method to decide whether to invest in a project or not. The net prese...
Using a Timeline to Solve Time Value of Money Problems
When solving a time value of money problem, it is sometimes easy to draw a timeline to present the cash flows on it. Onc...
Annuities with Different Compounding Frequencies
In all the above examples for annuities, we assumed that the compounding frequency is annual. However, this may not alwa...
Present Value and Future Value of Uneven Cash Flows
We have looked at the PV/FV calculations for single sums of money and for annuities in which all the cash flows are equa...
Present Value and Future Value of Annuity Due
In an annuity due, the first cash flow occurs at the beginning (at time 0). We can use our BA II Plus calculator to calc...
Effective Annual Yield
When you go to a bank inquiring about the deposit rates, the rates specified by the bank can be expressed in two ways: n...
Interest Rates
Interest rates are how we measure the time value of money. While making an investment, an investor will need to know th...
Introduction - Time Value of Money
Let’s say that you are given a choice to receive $100 today or $100 one year from now. Which choice will you prefer? The...
Major Sections of GIPS Standards
The provisions within the GIPS standards are divided into the following nine sections: Fundamentals of Compliance: S...
Scope of GIPS Standards
A firm is required to initially present, at a minimum, five years of annual investment performance that is compliant wi...
GIPS - Fundamentals of Compliance
Fundamentals of compliance—requirements Must comply with all the requirements of the GIPS standardsMust comply with ...
Key Features of GIPS Standards
GIPS Objectives To promote fair, global competition among investment firmsTo promote industry self-regulation on a g...
GIPS Verification
Compliance with GIPS standards is voluntary and a firm may hire an independent third party to verify its claim of GIPS c...
Construction and Purpose of Composites
A composite is a grouping of individual portfolios with a similar investment objective or strategy. The composite return...
Overview of GIPS
Why were GIPS Standards created? In the past it was difficult to meaningfully compare the investment performance dat...
Introduction - GIPS
When investment firms follow global standards for reporting investment performance, it gives investors the transparency...
Guidance for Standard VII – Responsibilities of a CFA Instit...
This standard has two parts: Conduct as Members and Candidates in the CFA ProgramReference to CFA Institute, the CFA...
Standard VI (C) - Referral Fees
This standard states that if a member receives any referral fees (compensation or benefit) for recommending a product o...
Standard VI (B) - Priority of Transactions
This standard states that for a member the investment transactions for his clients and employers should take priority o...
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