周教授CFA金融课程：2019 CFA Level II Financial Statement Analysis

Study Session 5 Financial Reporting and Analysis (1)

This study session covers investments in other companies, post-employment benefits, and foreign currency transactions. Intercorporate investments take the form of invest- ments in 1) financial assets, 2) associates, 3) joint ventures, 4) business combinations, and 5) special purpose and variable interest entities. Current and new reporting standards for these investments are examined. The valuation and treatment of post- employment benefits follows, including share-based compensation (grants, options). Differences in valuation methods between defined-contribution and defined-benefit plans are described. The effect of foreign currency on a business’s financials and methods to translate foreign currency from operations for consolidated financial statement reporting is examined. Analysis of financial institutions, including factors for consideration and an analysis approach (CAMELS), concludes the session.

READING ASSIGNMENTS

Reading 14 Intercorporate Investments

Reading 15 Employee Compensation: Post-Employment and Share- Based

Reading 16 Multinational Operations

Reading 17 Analysis of Financial Institutions （2019 New）

Study Session 6 Financial Reporting and Analysis (2)

This study session focuses on evaluating financial reporting quality and applying financial analysis techniques to investment decisions. A conceptual framework for assessing the quality of a company’s financial reports, including the quality of earnings, is provided. Indicators of low quality reporting, including quality of earnings, cash flow, and balance sheet are examined. The session concludes with mini cases, which demonstrate the value in applying financial statement analysis to inform practical investment decisions.

READING ASSIGNMENTS

Reading 18 Evaluating Quality of Financial Reports

Reading 19 Integration of Financial Statement Analysis Techniques

考试比重：10-15%

Financial Statement Analysis 财务报表分析