2016cfa一級notes變化,小伙伴來圍觀啦。CFA一級考試240個選擇題，上午120個，下午120個，考試時間還是挺緊張的，不過三選一的概率讓你不會也有33.33%擊中答案的概率。在緊張的備考中，澤稷萌編不辭辛勞，整理了2016年CFA一級notes變化詳解，小伙伴們速來圍觀領(lǐng)走。

2016CFA課程知識點(diǎn)變化，大家來看一下：

變動部分：

1.財務(wù)報告及分析 Financial Reporting and Analysis

SS7,R23.Financial Reporting Mechanics

新增考點(diǎn)：

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

SS8，R25.Understanding Income Statements

新增考點(diǎn)：

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

調(diào)整考點(diǎn)：

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

新增考點(diǎn)：

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.

刪除考點(diǎn)：

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 evaluate inventory management.

SS9,Reading 30: Long-lived Assets

調(diào)整考點(diǎn)：

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;

新增考點(diǎn)：

1、explain and evaluate 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 evaluate how impairment, revaluation, 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 evaluate how leasing rather than purchasing assets affects financial statements and ratios;

6、explain and evaluate 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

調(diào)整考點(diǎn)：

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

2.投資組合管理 Portfoio Management

SS12,Reading 42. Risk Management: An Introduction

新增考點(diǎn)：

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.權(quán)益 Equity

SS14,Reading 50: Introduction to Industry and Company Analysis

調(diào)整考點(diǎn)：

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

調(diào)整考點(diǎn)：

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

調(diào)整考點(diǎn)：

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

SS15,Reading 55. Introduction to Asset-Backed Securities

調(diào)整考點(diǎn)：

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.

新增考點(diǎn)：

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

SS16,Reading 57. Fundamentals of Credit Analysis

調(diào)整考點(diǎn)：

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

新增考點(diǎn)：

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

5.另類投資 Alternatives

SS18,Reading 64.Introduction to Alternative Investments

調(diào)整考點(diǎn)：

1、describe issues in valuing and calculating returns on hedge funds, private equity, real estate, commodities, and infrastructure;

刪除部分：

SS9,Reading 29: Inventories

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 evaluate inventory management.

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