高顿财经为您解答2016年CFA一级考试考纲难点-高顿教育

高顿财经为您解答2016年CFA一级考试考纲难点

高顿网校2016-02-25 10:33Yuyu.zhang

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距离2016年6月4日的CFA考试还剩下100天的时间了！各位在备考*9线的考生们，你们备考得顺利吗？高顿财经*9时间带来了研究院老师精心整理的CFA考试重点，帮助各位考生有效备考。

2016年CFA一级考纲变化内容分析：

1.财务报告及分析 Financial Reporting and Analysis

SS7,R23.Financial Reporting Mechanics

新增考点：

1、describe how business activities are classified for financial reporting purposes

SS8，R25.Understanding Income Statements

新增考点：

1、describe key aspects of the converged accounting standards issued by the International Accounting Standards Board and Financial Accounting Standards Board in May 2014;

SS9，Reading 29: Inventories

调整考点：

1、calculate and compare cost of sales, gross profit, and ending inventory using different inventory valuation methods and using perpetual and periodic inventory systems;

新增考点：

1、calculate and explain how inflation and deflation of inventory costs affect the financial statements and ratios of companies that use different inventory valuation methods;

2、explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios;

3、convert a company’s reported financial statements from LIFO to FIFO for purposes of comparison;

4、describe implications of valuing inventory at net realisable value for financial statements and ratios;

5、explain issues that analysts should consider when examining a company’s inventory disclosures and other sources of information;

6、calculate and compare ratios of companies, including companies that use different inventory methods;

7、analyze and compare the financial statements of companies, including companies that use different inventory methods.

删除考点：

1、calculate and compare cost of sales, gross profit, and ending inventory using perpetual

and periodic inventory systems;

2、compare cost of sales, ending inventory, and gross profit using different inventory valuation methods;

3、calculate and interpret ratios used to *uate inventory management.

SS9,Reading 30: Long-lived Assets

调整考点：

1、describe the different depreciation methods for property, plant, and equipment and calculate depreciation expense;

2、describe the different amortisation methods for intangible assets with finite lives and calculate amortisation expense;

3、describe how the choice of amortisation method and assumptions concerning useful life and residual value affect amortisation expense, financial statements, and ratios;

新增考点：

1、explain and *uate how capitalising versus expensing costs in the period in which they are incurred affects financial statements and ratios;

2、describe how the choice of depreciation method and assumptions concerning useful life and residual value affect depreciation expense, financial statements, and ratios;

3、explain and *uate how impairment, r*uation, and derecognition of property, plant, and equipment and intangible assets affect financial statements and ratios;

4、analyze and interpret financial statement disclosures regarding property, plant, and equipment and intangible assets;

5、explain and *uate how leasing rather than purchasing assets affects financial statements and ratios;

6、explain and *uate how finance leases and operating leases affect financial statements and ratios from the perspective of both the lessor and the lessee.

SS9,Reading 31: Income Taxes

调整考点：

1、explain recognition and measurement of current and deferred tax items;

2.投资组合管理 Portfoio Management

SS12,Reading 42. Risk Management: An Introduction

新增考点：

1、define risk management;

2、describe features of a risk management framework;

3、define risk governance and describe elements of effective risk governance;

4、explain how risk tolerance affects risk management;

5、describe risk budgeting and its role in risk governance;

6、identify financial and non-financial sources of risk and describe how they may interact;

7、describe methods for measuring and modifying risk exposures and factors to consider in choosing among the methods.

3.权益 Equity

SS14,Reading 50: Introduction to Industry and Company Analysis

调整考点：

1、explain how a company’s industry classification can be used to identify a potential “peer group” for equity valuation;

2、explain the effects of barriers to entry, industry concentration, industry capacity, and market share stability on pricing power and price competition;

3、describe industry life cycle models, classify an industry as to life cycle stage, and describe limitations of the life-cycle concept in forecasting industry performance;

SS14,Reading 51: Equity Valuation: Concepts and Basic Tools

调整考点：

1、explain the rationale for using price multiples to value equity, how the price to earnings multiple relates to fundamentals, and the use of multiples based on comparables;

4.固定收益 Fixed Incomne

SS15,Reading 53: Fixed-Income Markets: Issuance, Trading, and Funding

调整考点：

1、describe repurchase agreements (repos) and the risks associated with them.

SS15,Reading 55. Introduction to Asset-Backed Securities

调整考点：

1、describe securitization, including the parties involved in the process and the roles they play;

2、describe typical structures of securitizations, including credit tranching and time tranching;

3、describe types and characteristics of residential mortgage-backed securities, including mortgage pass-through securities and collateralized mortgage obligations, and explain the cash flows and risks for each type;

4、describe types and characteristics of non-mortgage asset-backed securities, including the cash flows and risks of each type;

5、describe collateralized debt obligations, including their cash flows and risks.

新增考点：

1、define prepayment risk and describe the prepayment risk of mortgage-backed securities;

SS16,Reading 57. Fundamentals of Credit Analysis

调整考点：

1、explain the four Cs (Capacity, Collateral, Covenants, and Character) of traditional credit analysis;

新增考点：

1、describe default probability and loss severity as components of credit risk;

5.另类投资 Alternatives

SS18,Reading 64.Introduction to Alternative Investments

调整考点：