CFA二级复习-财报

2105的CFA二级复习笔记。主要是大框架和需要背的公式。都是根据个人对教材的理解整理所得，大家可以根据自己的复习情况进行增减。希望能帮助大家理清知识脉络、提高学习效率，祝大家考试顺利~供大家参考，祝早日上岸！

财报

• intercorporate investment
  • investment in financial assets 金融资产
    • no significant influence
    • 分类
      • Amotized cost
      • FVOCI
      • FVPL
    • 重分类
      • 股权类金融资产不可重分类
      • 债权类金融资产可以重分类
  • investment in associates 非控股长期股权投资
    • significant influence
    • 记账方法
      • equity method 权益法
        • one-line consolidation
    • FV option
      • GAAP允许
      • IFRS只允许在VC，MF中使用
    • 减值
      • GAAP
        • nontemporary BV>FV确认减值
      • IFRS
        • loss event occurred确认减值
      • 禁止回转
  • business combination 控股长期股权投资
    • control
    • 记账方法
      • acquisition method 成本法
    • 商誉
      • full goodwill = cash paid/ω%-Es
      • MI of full goodwill = cash paid(1-ω%)/ω%
      • partial goodwill = cash paid-Es*ω%
      • MI of partial goodwill = Es*(1-ω%)
      • GAAP
        • 只允许 full goodwill
      • IFRS
        • 允许full & partial
    • GW减值
      • IFRS one-step
        • 是否减值
          • 比较cash generating unit (BV>FV)
        • 减值金额
          • cash generating unit(BV-FV)
      • GAAP two-step
        • 是否减值
          • 比较cash generating unit (BV>FV)
        • 减值金额
          • goodwill(BV-FV)
  • joint venture 合资
    • 记账方法
      • 大部分情况equity method
      • 极少情况proportionate consolidation
  • SPE & VIE
    • 判断是否并表处理
  • 比较
    • Equity method(E)
    • acquisition method (A)
    • proportionate consolidation (P)
    • IS
      • NI
        • E=A=P
      • revenue & expense
        • A>P>E
    • BS
      • Equity
        • A>E=P 多出来的金额是MI
      • A&L
        • A>P>E
• employee compensation
  • DB plan
    • PA(plan assets)
      • PAbgn + contribution + actual return - benefits paid = PAend
    • PBO
      • PBObgn + current service cost + interest cost + past service cost + actuarial G/L -benefits paid = PBOend
    • funded status
      • FV of PA-PBO
    • TPPC
      • employer contribution - Δfunded status
    • IFRS费用分类
      • current service cost
      • interest cost
        • PBObgn*interest rate
      • past service cost
      • actuarial G/L
      • actual return
      • expected return
      • OCI
    • GAAP费用分类
      • current service cost
      • interest cost
        • PBObgn*interest rate
      • past service cost
      • actuarial G/L
      • OCI
      • actual return
      • expected return
    • 影响因素
      • discount rate ↑
        • PBO↓，current service cost↓
        • interest cost↓
      • compensation growth rate↑
      • expected return
    • 分析师关注问题 adjusting CF
      • contribution>TPPC
        • 相当于prepayment
        • CFO+差额(1-t)
        • CFF-差额(1-t)
      • contribution<TPPC
        • 相当于borrowing
        • CFO-差额(1-t)
        • CFF+差额(1-t)
  • share based compensation
    • equity settled
      • stock options
      • stock grants
    • cash settled
      • stock appreciation rights
      • phantom stock
• multinational operation
  • 外币业务折算
  • 合并报表折算
    • temporal method
      • local → functional
      • 子公司 dependent on 母公司
      • 换算顺序
        • 先换算BS报表
        • 汇兑损益列示在IS中
    • current rate method
      • functional → presentation
      • 子公司 independent
      • 换算顺序
        • 先换算IS报表
        • 汇兑损益列示在BS中
    • 指标对比
      • current rate method处理前后财务指标对比
      • current rate method和temporal method对比
    • 恶性通胀
    • 跨国经营分析
• analysis of financial institution
  • 金融机构
    • 特点
      • systemic importance
      • regulated
      • assets
    • 监管BASEL III
  • 银行
    • CAMELS
  • 保险公司
    • P&C
      • 盈利指标
        • combined ratio
        • underwriting loss ratio
        • expense ratio
      • 周期性
    • L&H
    • 对比
• financial report quality
  • 财务报表质量
    • reporting quality
    • earnings quality
    • 质量分级
    • 检测模型
      • M-score
      • Z-score
  • 盈利持续性
    • 检测模型1
      • earnings t+1=α+β*earnings t+ε
    • 检测模型2
      • earnings t+1=α+β1*cash flow t+β2*accruals t+ε
        • BS accruals
          • NOAend-NOAbgn
        • IS accruals
          • NI-CFO-CFI