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CFA Level 2: Financial Reporting 2 - Recommendations

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  • Spend six to seven hours reading Study Session 6 of the Level II CFA Program Curriculum © taking notes.
  • Spend two hours creating flash cards from this study sheet and the official material.
    • Flash cards do not need to be limited to pure formulas.  For example, some Financial Reporting flash cards may walk through the steps of a complicated accounting method or financial statement revision process.
  • Spend six hours taking practice questions.
    • On the practice questions, the exam taker is recommended to study as many item sets as possible.
    • There may be problems which require multiple steps (for example adjusting a financial statement and then recalculating a financial ratio based on the adjusted date).
    • Repetition can tremendously help a student become comfortable with more difficult financial reporting questions.
    • There is no need to begin practicing under pressure.  Start by doing practice problems open note or open book.  As one develops confidence through practice, then he or she can transition to doing these problems without help.
    • Dedicate small parts of future weeks to staying refreshed on Financial Reporting.  This subject is simply too important to study in January or February and then put down until completing the rest of the material in late April or early May.

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01
CFA Level 2: Financial Reporting Part 2 – Introduction
02
Intercorporate Investments Accounting - Ownership Categories
03
Minority Passive Investments – Accounting Classes
04
Minority Active Investments and the Equity Method for Financial Reporting
05
Joint Venture Investments
06
Controlling Interest Investments: Accounting for Business Combinations
07
Purchase Method of Accounting for Controlling Interest Investments or Acquisitions
08
Pooling of Interests Method to Account for Controlling Interest Investments
09
Purchase Method vs. Pooling of Interest Method
10
Acquisition Method to Account for Controlling Interest Investments
11
GAAP Purchase Method, IFRS Purchase Method, and GAAP Acquisition Method Accounting
12
Variable Interest Entities (VIEs) and Special Purpose Entities (SPEs)
13
Defined Benefits Plans vs. Defined Contribution Plans
14
Measuring the Defined Benefit Obligation
15
Pension Expense (both GAAP & IFRS) for the Income Statement
16
Defined Benefit Plans & the Company Balance Sheet
17
The Role of Actuarial Assumptions in DB Plan Accounting
18
Economic Pension Expense
19
Pensions and the Statement of Cash Flows
20
Accounting for Stock (or Share) Based Compensation
21
Financial Statement Consolidation of Multinational Operations
22
Consolidation: Presentation Currency vs. Functional Currency vs. Local Currency
23
Foreign Currency Translation
24
Temporal Method for Translation of Foreign Statements
25
Current Rate Method for Translation of Foreign Statements
26
Consolidating Financial Statements: Determining the Functional Currency
27
Translation Methods and Financial Statement Effects
28
Accounting for Subsidiaries in Hyperinflationary Economies
29
CFA Level 2: Financial Reporting 2 - Recommendations
30
MBS Weighted Average Life

Topics

Financial Analysis
Financial Statements

Related Groups

Finance Concepts