Query !!

dee5.v
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Posts: 14
Joined: Wed Aug 29, 2012 5:39 pm

Query !!

Postby dee5.v » Thu Aug 30, 2012 4:47 pm

Dear Sir /Madam,

1]. In the entire Syllabus of CFA L1, there is always a mention of IFRS, FASB and IASB ... what shud L1 canddidates focus on US GAAP or all of the above ??

2]. Also, is it advisable to study as per teh weightage given to the topics, For eg : 18% to FRA, 15% to Ethics and so on ..

3]. In the entire syllabus, what is the ratio of sums to theory ?

Tags:

akshat
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Posts: 10
Joined: Wed Aug 22, 2012 11:53 am

Re: Query !!

Postby akshat » Fri Aug 31, 2012 11:27 am

1. You need to know about both US GAAP and IFRS accounting standrads. FASB and IASB are just the boards that regulate US GAAP and IFRS respectively. US GAAP is used in US and thus CFA Institute follows it as it is based in US. Increasingly,IFRS is becoming important the world over and thus you should atleast know the differences between IFRS and US GAAP.

2. You should study as per your strength and weakness, not the weightage. In order to pass the exam you need to pass individual sections. If you fail in three or more sections, you fail the exam no matter how well you do in other sections. Moreover,it is compulsory to pass the Ethics section in order to pass the exam.

3. There is no general ratio for Numerical to Theoretical questions, but roughly you can assume 30 : 70. Usually, the numericals are not very difficult or lengthy. The purpose of the exam is to check the concepts, both understanding as well as application. You should try to devote enough time to both theory and numericals.

dee5.v
Good Student
Posts: 14
Joined: Wed Aug 29, 2012 5:39 pm

Re: Query !!

Postby dee5.v » Fri Aug 31, 2012 5:56 pm

Thank You Akshat Sir !!

That was helpful !!

Regards !


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