16年1级考纲变动分析考点梳理2016cfa level i

1、2016 CFA level I 考纲变动分析2016 年 CFA level I 考纲变动的科目为：财报、组合、权益、权益、固收和另类；变动较大的科目为：财报、组合和固收；其中，数量新增一个 reading；固收删除一个 reading，组合删除三个 reading，新增两个 reading.具体变动情况如下：1、财报SS7,R23.Finanl Reporting MechanicsSS8，R25.Understandinge SementsSS9，Reading 29: Inventoriesh describe implications of valuing inventory at

2、net realisable value for finanl sements andratios;（新增）j explain ies tysts should consider when examining a companys inventory disclosures and other sourof information;（新增）k calculate and compare ratios of companies, including companiest use different inventory methods;（新增）lyze and compare the finanl

3、 sements of companies, including companiest usedifferent inventory methods.（新增）d calculate and explain how inflation and deflation of inventory costs affect the finanl sementsand ratios of companiest use different inventory valuation methods;（新增）e explain LIFO reserve and LIFO liquidation and their

4、effects on finanl sements and ratios;（新增）f convert a companys reported finanl sements from LIFO to FIFO for pures of comparison;（新增）d calculate and compare cost of sales, gross profit, and ending inventory using petual and periodic inventory systems;（删除）e compare cost of sales, ending inventory, and

5、 gross profit using different inventory valuationmethods;（删除）c calculate and compare cost of sales, gross profit, and ending inventory using different inventory valuation methods and using petual and periodic inventory systems;（调整）d describe key aspects of the converged accounting standards ied by t

6、heernational Accounting Standards Board and Finanl Accounting Standards Boarday 2014;（新增）a describe how businesivities are classified for finanl reporting pures（新增）SS9,Reading 30: Long-lived AssetsSS9,Reading 31:e Taxes2、组合SS12,Reading 42. Risk Management: Anroduction （新增）3、权益SS14,Reading 50:roducti

7、on to Industry and CompanyysisSS14,Reading 51: Equity Valuation: Concepts and Basic Toolsg explahe rationale for using price multiples to value equity, how the price to earnings multiplerelates to fundamentals, and the use of multiples based on comparables;（微调）g explahe effects of barriers to entry,

8、 industry concentration, industry capacity, and marketshare stability on pricinger and price competition;（调整）a define risk management;b describe features of a risk management framework;c define riskernance and describe elements of effective riskernance;d explain how risk tolerance affects risk manag

9、ement;e describe risk budgeting and its role in riskernance;f identify finanl and non-finanl sourof risk and describe how they mayeract;g describe methods for measuring and modifying risk exures and factors to consider in choosing among the methods.h explain recognition and measurement of current an

10、d deferred tax items;（调整）c explain and evaluate how capitalising versus expensing costshe period in which they areincurred affects finanl sements and ratios;（新增）e describe how the choice of depretion method and amptions concerning useful life and residual value affect depretion expense, finanl semen

11、ts, and ratios;（调整）f describe the different amortisation methods forangible assets with finiives and calculate amortisation expense;（调整）g describe how the choice of amortisation method and amptions concerning useful life andresidual value affect amortisation expense, finanl sements, and ratios;（调整）k

12、 explain and evaluate how impairment, revaluation, and derecognition of property, plant, and equipment andangible assets affect finanl sements and ratios;（新增）myze andret finanl sement disclosures regarding property, plant, and equipment and angible assets;（新增）o explain and evaluate how leasing rathe

13、rn purchasing assets affects finanl sements andratios;（新增）p explain and evaluate how finance leases and operating leases affect finanl sements and ratios from theof both the lessor and the lessee.（新增）4、固定收益SS15,Reading 53:e Markets: Iance, Trading, and FundingSS15,Reading 55.roduction to Asset-Backe

14、d SecuritiesSS16,Reading 57. Fundamentals of Creditysis5、另类SS18,Reading 64.roduction to Alternative Investmentsf describe ies in valuing and calculating returns on hedge funds, private equity, real ese, commodities, and infrastructure;（调整）b describe default probability and loss severity as component

15、s of credit risk;（新增）f explahe four Cs (Capacity, Collateral, Covenants, and Character) of traditional creditysis;（调整）i describe factorst influence the level and volatility of yield spreads;（删除）b describe the securitization pros, including the parties to the pros, the roles they play, and the legal

16、structures involved;（删除）c describe typical structures of securitizations, including credit tranching and time tranching;（新增）e describe types and characteristics of residential mortgage-backed securities, including mortgage pass-through securities and collateralized mortgage obligations, and explahe cash flows and risksfor each type;（调整）f define