Mind Map Gallery CFA Level II
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CFA Level II
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Edited at 2020-09-28 08:03:45
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- Outline
CFA Level II
inventory
- inventory cost
- in cost（for production)
- physical goods cost
- freight in
- storage cost?
- conversion cost
- fixed production overhead
- out of cost
- allocated overheads
- SG&A
- abnormal waste
- inventory value
- physical flow of inventory
- cost flow(cost fomula IFRS)
- FIFO
- LIFO
- WAC
- formula
- EI=BI+purchase-COGS
- pricelevel
- inflationary
- LIFO
- Better for economic cost
- Low inventory balance
- low wc
- low R/E
- high CFO
- High COGS
- tax liability increase
- FIFO
- inventory balance for economic view
- deflationary
- record change
- perpetual
- periodic
- LIFO reserve
- inflationary & qunatity stable or increase
->0
- increase
- B/S
- inventory -=InvF-InvL
- DTL (fifo)=accumulated LIFO reserve*t
- CashF-CashL=LIFO reserve*t
- R/Ef-R/El=LIFO reserve * (1-t)
- IS
- COGSf-COGSl=dLIFO reserve
- GPf-GPl=dLIFO reserve
- Taxf-Taxl=dLIFO reserve*t
- NIf-NIl=dLIFO reserve*(1-t)
- decline
- price failling
- inventory quantity declining
- LIFO liquidation
- overstatement earning
- COGS declining
- paper profit
- COGS down
- Tax up
- adjustment
- US GAAP(lower cost or market)
- ceiling=NRV
- flooring = NRV-normal profit margin
- replacement cost
- IFRS(cost NRV)
- NRV=sales price - selling cost
- inventory allowence (negative effect)
- B/S
- inventory -
- Current Asset -
- Total Asset -
- activity ratio ： inventory turnover +
- IS
- COGS -
- NI -
- permanent
- US GAAP
- prohibit
- reversal
- argricultural,forest,minirals andminiral product
- commodity broker
- bullion
- IFRS
- reversal
- analysis
- raw/in progress +,inventory +
- demand+ sales+
- finish goods + in progress - inventory -
- read strategy
- growth rate at finish goods vs sales
- MD & A
- with inventory allowence and not
Long live asset
- cap an expense
- NI *,equity +,CFO +
- asset +
- IS
- profitablity in early year
- profitablity in later year
- income variablity
- B/S
- capitalized
- asset+
- solvency +
- equity +
- r/e +
- ROA ROE
- early year +
- later year -
- Cash Flow
- capitalized
- CFO+
- CFI-
- on-going purchase
- profit enhancing effect
- Capitalized Interest
- constructed asset(fixed asset）
- planet or building
- depreciation
- inventory（current asset）
- build for sales
- COGS
- coverage ratio
- EBIT/I +, t=0
- EBIT/interest payment
- High aset to lower NI t=T
- Capitalized tangible asset
- Capitalized intangible asset
- impairment
- cost model
- expected future cash flow <carry value
- No: no impairment
- yes: impairment loss
- US GAAP
- recoverablity test
- CV vs undiscounted CF(economic benefit)
- measurement loss
- CV vs FV
- loss prohibit recoveries ,exceptheld for sales
- IFRS
- CV vs recoverable amount
- recoverable amount = max(FVselling cost , value in use)
- value in use= discount CF
- Can be reserved not over historical cost
- impact
- this year
- fixed asset -,NI-
- ROE ROA-
- subsquent year
- depreciation -
- NI +,ROE,ROA +
- revaluation（IFRS）
- fair value
- downward
- =impairment loss
- upward
- Asset ,Equity +
- D/E, A/E
- A/E >1 A/E -
- subsquent year
- NI- ROE,ROA-
- disclosure
- useful life
- SV
- depreciation method
- calculator
- average age
- accumulate dep/every dep
- ave dep life
- remain useful life
- net pp & e/dep exp
Lease
- Capital leasee
- criteria
- transfer title
- bargin purchase option
low than the price in the market
- 75% economic life
- 90% FV
- indicator
- A+ Liable+
- NI - this year,NI + later year
- total exp
- interest
- dep
- EBIT+
- operation earning部分early和later
- CF
- total
- same
- CFO
- higher
- CFF
- lower
- coverage ratio
- EBIT/(interest expense+lease payment)
- current ratio
- leaser
- sales type
- PV&lt;CV of COGS
- direct financing lease
inter-corporate investment
- basic categories
- influence not significate(0-20%)
- financial asset (passive investment)
- cost or market
- held to maturity
- concept
- intent
- ability
- type
- debt securities
- I/S(subsequence date)
- amortized expense
- interest income
- realized G/L
- B/S
- this year
- cash-,invest+
- subsequence date
- amortized cost
- US GAAP
- cost with transaction cost
- IFRS
- FV with transaction cost
- fair value(carry value)-parvalue+transaction cost
- realized G/L=(FV-CV) CV= amortized cost
- trading securities(held for trading)
- concept
- short term
- trading gain
- type
- debt
- B/S
- FV
- no transaction cost
- I/S(subsequence date)
- realized G/L FVt-CV CV=FVt-1
- amortized exp
- interest income
- equity
- I/S
- unrealized G/L
- dividend income
- Avaliable for sale
- concept
- not HTM not TS
- type
- debt
- B/S
- this year
- transaction cost
- FV
- subsquence date
- unrealized G/L
- (US GAAP)OCI,net of tax
- FX (IFRS) to I/S
- I/S(subsequence date)
- realized G/L
- amortized exp
- interest income
- equity
- I/S
- dividend income FVt-CV CV=FVt-1
- designated FV
- =TS
- new standard
- yes:biz mode & cash flow mode
- amortized cost
- No:
- Designated at FVPL(fair value,interest income)
- change in FV recognized in PL
- Designated at FVOCI(fair value,unrealized GL)
- change in FV recognized in OCI
- reclassification
- IFRS
- prohibit in/out designated
- restrict TS
- HTM->AFS,ability or intent
- US GAAP
- TS->AFS
- unrealized G/L->OCI
- any ->TS
- unrealized G/L-I/S
- AFS->HTM
- unrealized G/L ->amortized
- HTM->AFS
- amortized->unrealized G/L->OCI
- new standard(no restatement)
- equity
- FVOCI FVPL is prohibit
- debt
- FVPL->amortized based on bizmodel change
- FV->CV
- amortize->FVPL
- asset->FV
- G/L>P/L
- impairment
- type
- debt
- equity
- environment
- sig decline FV below cost
- accounting
- HTM
- realized loss in I/S
- AFS
- OCI->I/S
- TS
- reversal
- US GAAP
- prohibit
- IFRS
- Debt
- reversal->I/S (HTM & AFS)
- equity
- reversal->B/S (AFS) prohibit
- unrealized gain
- OCI
- significate influence(20%-50%)
- associate
- condition
- representation of board director
- participate in policy making
- equity method
- basic
- I/S
- investment income=div+NI*%-div(share results)
- B/S
- Invt=Invt-1+NI*%-div
- Cash=-purchase cost+accumulated div *%
- Investment=Cost+NI*%-accumulated div*%
- good will
- purchase- FV of NA
- acquisition cost（consideration)=bv of na + fv appreciate+gw
- fair value of net identifiable asset
- PP&E:
- USGAAP
- cost method
- IFRS
- cost method
- FV method
- FV app
- I/S
- investment income-
- land
- have no additional dep
- B/S
- investment account
- summary
- B/S
- CV=initial invest cost+(NI-div)*%-add dep
- I/S
- invest income=NI*%-add dep
- impairment (investment account)
- GW is not amortized or impairment
- IFRS(US GAAP)
- CV like asset impairment
- no reversal
- US GAAP
- FV vs CV
- no reversal
- fair value model
- elect to use at initial
- after ,no irevocable
- cost > fair value ,no amortized no good will
- No fair value: mutual,VC,unit trust
- transaction with association
- upstream
- downstream
- share
- join venture
- US GAAP
- Equity method
- IFRS
- proportionate console or equity
- Control
- subsidiary
- consolidation
- minority interest(non-controlling interest)
- Equity
- liability(analyst)