2016cfa一級(jí)notes閱讀技巧分享：備考CFA，NOTES就會(huì)成為你的陪伴。高頓網(wǎng)校小編建議一些看notes的方法，針對(duì)CFA學(xué)習(xí)沒(méi)有什么基礎(chǔ)可以從Economics經(jīng)濟(jì)學(xué)入門(mén)，其他可以按照notes的順序閱讀，道德Ethical and Professional Standards 放在最后閱讀，因?yàn)镋thical and Professional Standards 主要是記憶。
 
 
 
1、從 Equity入手，這部分容易一些，而且應(yīng)該算是最不枯燥的一個(gè)，再?zèng)]有底子總聽(tīng)說(shuō)過(guò)股票，結(jié)合高頓網(wǎng)校的CFA網(wǎng)課一起從這里入手可以興趣會(huì)高一些，然后Fixed Income,Alternative Investment,最后Portfolio Management。
 2、Financail Statement Analysis,建議直接用官方教材，講得比較系統(tǒng)而且不枯燥，知識(shí)點(diǎn)比較多，教材在一級(jí)不用掌握很深的知識(shí)點(diǎn)上篇幅掌握很好，用note 會(huì)疑問(wèn)較多，因?yàn)闀?huì)計(jì)知識(shí)相當(dāng)深，很多一級(jí)考試不必要掌握。但是這一部分是一級(jí)考試重中之重。除了看書(shū)以外一定要配合做高頓網(wǎng)校CFA題庫(kù)。晚了看Corporate Finance,問(wèn)題不大,其中Corporate Governance(公司治理部分)是一個(gè)獨(dú)立的知識(shí)點(diǎn)，建議加強(qiáng)中文知識(shí)背景學(xué)習(xí)。
 3、Economics 沒(méi)有經(jīng)濟(jì)學(xué)基礎(chǔ)要補(bǔ)充中文知識(shí)背景，這一塊教材講得不經(jīng)典，市場(chǎng)有很多經(jīng)濟(jì)學(xué)原理的教材，初級(jí)點(diǎn)的高鴻業(yè)、梁小平的，中級(jí)點(diǎn)曼昆、薩繆爾森的經(jīng)濟(jì)學(xué)原理。
 4、Ethics只有靠死記，Quantitive部分學(xué)習(xí)一級(jí)不是很深。
 
2015年cfa一級(jí)notes 與 2016cfa一級(jí)notes中考綱的主要變化部分：
 
變動(dòng)部分：
 
1.財(cái)務(wù)報(bào)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 *uate 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 *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
 
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(lèi)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 *uate inventory management.
 
考生可以在看完cfa一級(jí)notes*9遍復(fù)習(xí)后，選擇做幾份模擬題，看看自己對(duì)知識(shí)點(diǎn)的掌握程度。在最后的沖刺過(guò)程中，通過(guò)大量的做題迅速積累起自己的應(yīng)考技巧和對(duì)考試的感覺(jué)。書(shū)山有路勤為徑，只要花下苦功夫，一切考試都會(huì)變的輕松。