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Introduction

Introduction. Benefits & compensation. CFA Level 1 Learning Outcomes Statements. CFA Financial statement analysis curriculum (LOS). CFA level 1 exam Preparing to study the CFA curriculum. Learning Process. Course Syllabus. 1. Benefits of the CFA Charter. International Recognition

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Introduction

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  1. Ahmed Elshahat

  2. Introduction • Benefits & compensation. • CFA Level 1 Learning Outcomes Statements. • CFA Financial statement analysis curriculum (LOS). • CFA level 1 exam • Preparing to study the CFA curriculum. • Learning Process. • Course Syllabus. Ahmed Elshahat

  3. 1. Benefits of the CFA Charter • International Recognition • Credibility • Respect • Competitive advantage • Knowledge with a global Perspective • Connections. • Return on Investment. Ahmed Elshahat

  4. Compensation Survey Ahmed Elshahat

  5. Compensation Survey Ahmed Elshahat

  6. Compensation Survey Ahmed Elshahat

  7. 2. CFA Level 1 Learning Outcomes Statements (LOS) Tree Ahmed Elshahat

  8. 3. CFA FSA Curriculum • Financial Statement analysis (FSA) contributes 28% of level 1. • Emphasis is on basic financial statements and how alternative accounting methods affect those statements and the analysis of financial statement relationships. • Includes 4 study sessions (7-10). Ahmed Elshahat

  9. Investment Tools(Study session 7-10) • SS7: Basic Concepts • SS8: Financial Ratios & EPS • SS9: Assets • SS10: Liabilities Ahmed Elshahat

  10. SS7: Basic Concepts • Learning outcomes: • Framework for Financial Statement Analysis • Long term assets • The accrual concept • Cash flow statement • Analysis of cash flows. • Future FASB statements & GAAP Challenges Ahmed Elshahat

  11. SS8: Financial Ratios & EPS • Learning outcomes: • Analysis of Financial statements • Dilutive securities and EPS • Seek and Ye shall find • Searching for shenanigans Ahmed Elshahat

  12. SS9: Assets • Learning outcomes: • Analysis of inventories. • The capitalization decision. • Analysis of depreciation and impairment. Ahmed Elshahat

  13. SS10: Liabilities • Learning outcomes: • Analysis of income tax • Analysis of financing liabilities. • Leases and off-balance sheet debts. Ahmed Elshahat

  14. CFA level (1) Exam • Approximate exam weights; • Ethics – 15% • Economics – 12% • Accounting & Corp. Fin. – 28% • Asset Valuation – 30% • Portfolio Management – 5% [Exam Format (MCQ)] Ahmed Elshahat

  15. Exam Day • Read all the candidate bulletins • Know what you can bring into the exam center • Follow the directions of the proctor • Do NOT allow your eyes to wander around the room. Ahmed Elshahat

  16. Level 1 Exam • Each question is worth 1.5 points & should take you 1.5 minutes to complete. • Expect the unexpected. • Expect pressure and anxiety • Morning and afternoon sessions are identical in structure. Ahmed Elshahat

  17. 5. Preparing to study the CFA curriculum • Before beginning: Master the basic accounting concepts; • White et al, 3rd edition • Neddles and Powers 8th edition ch3, 5, 8, 9, 12, 13. Ahmed Elshahat

  18. Mastery of basic accounting concepts • Accounting Equation & Mechanics of journal entries (debits & credits). • Accounting terms and definitions. • Practices for measuring and reporting business and financial activities. • Basic principles and rules of financial reporting. Ahmed Elshahat

  19. Mastery of basic accounting concepts • Relationship between management decisions and financial reporting • Construction of and interrelationships among financial statements. • Basic accounting and business vocabulary. Ahmed Elshahat

  20. 6. Learning process • Reading, Writing, Discussing. • Be ready for the class: • Before, During, & After. • Remember: • Punctuality(don’t miss classes, be on time, min interruption – cell phones, side-talk, laptop) • Avoid negative people, & Stick with positive people • Success formula: Strong will + Dedication = Success Ahmed Elshahat

  21. 7. Course Syllabus • Scenario 1, 2, or 3; • Scenario 1: Basic Knowledge. • Scenario 2: LOS 29-44. • Scenario 3: Crash basics + LOS • Project: • Business summary • Financial statement Analysis • CAPM: SML approach • Corporate valuation model Ahmed Elshahat

  22. Introductory Text • Accounting Principles, by Weygandt, Kieso, Keil. • The following link is very helpful; http://web.sunybroome.edu/~blakeslee_a/b100/b100lect.htm Ahmed Elshahat

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