2016cfa一级notes阅读技巧分享

2016cfa一级notes阅读技巧分享：备考CFA，NOTES就会成为你的陪伴。高顿网校小编建议一些看notes的方法，针对CFA学习没有什么基础可以从Economics经济学入门，其他可以按照notes的顺序阅读，道德Ethical and Professional Standards 放在最后阅读，因为Ethical and Professional Standards 主要是记忆。
 1、从 Equity入手，这部分容易一些，而且应该算是最不枯燥的一个，再没有底子总听说过股票，结合高顿网校的CFA网课一起从这里入手可以兴趣会高一些，然后Fixed Income,Alternative Investment,最后Portfolio Management。
 2、Financail Statement Analysis,建议直接用官方教材，讲得比较系统而且不枯燥，知识点比较多，教材在一级不用掌握很深的知识点上篇幅掌握很好，用note 会疑问较多，因为会计知识相当深，很多一级考试不必要掌握。但是这一部分是一级考试重中之重。除了看书以外一定要配合做高顿网校CFA题库。晚了看Corporate Finance,问题不大,其中Corporate Governance(公司治理部分)是一个独立的知识点，建议加强中文知识背景学习。
 3、Economics 没有经济学基础要补充中文知识背景，这一块教材讲得不经典，市场有很多经济学原理的教材，初级点的高鸿业、梁小平的，中级点曼昆、萨缪尔森的经济学原理。
 4、Ethics只有靠死记，Quantitive部分学习一级不是很深。
 
2015年cfa一级notes 与 2016cfa一级notes中考纲的主要变化部分：
 
变动部分：
 
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：
 
1、describe issues in valuing and calculating returns on hedge funds, private equity, real estate, commodities, and infrastructure;
 
删除部分：
 
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 *uate inventory management.
 
考生可以在看完cfa一级notes*9遍复习后，选择做几份模拟题，看看自己对知识点的掌握程度。在最后的冲刺过程中，通过大量的做题迅速积累起自己的应考技巧和对考试的感觉。书山有路勤为径，只要花下苦功夫，一切考试都会变的轻松。