CFA® Level 1 (2020) - Complete Financial Reporting &Analysis
4.5 (2,403 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
16,168 students enrolled

CFA® Level 1 (2020) - Complete Financial Reporting &Analysis

Deep dive into FRA with the Bestselling CFA® prep course provider | With visual learning + Quizzes
Bestseller
4.5 (2,403 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
16,168 students enrolled
Last updated 5/2020
English
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Current price: $97.99 Original price: $139.99 Discount: 30% off
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This course includes
  • 8 hours on-demand video
  • 16 articles
  • 52 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Classify the various financial statement elements (assets, liabilities, equity, revenue, and expenses).
  • Understand the basic and expanded accounting equations.
  • Understand the roles of standard setting bodies and regulatory authorities.
  • Be familiar with the IFRS Framework, and also identify the key differences between IFRS and US GAAP.
  • Calculate depreciation, COGS, inventory under different cost flow assumptions, basic and diluted EPS.
  • Distinguish between operating and non-operating items.
  • Understand the various balance sheet accounts, how they are valued, and what they represent.
  • Calculate financial ratios and make inferences through the ratios.
  • Construct a cash flow statement, by either the direct or indirect method.
  • Distinguish between operating, investing, and financing cash flows.
  • Apply various tools and techniques used in financial analysis.
  • Use the DuPont formulas to decompose ROE into its components to interpret a firm's profit drivers.
  • Distinguish between the different cost flow methods: LIFO, FIFO, and weighted average cost.
  • Calculate COGS, ending inventory, and gross profit under the different cost flow methods.
  • Distinguish between capitalisation and immediate expensing of various costs.
  • Determine if an asset is impaired, and the methods to revalue an asset.
  • Distinguish between taxes payable and income tax expense.
  • Understand the circumstances that lead to deferred taxes, calculate and make adjustments to deferred taxes.
  • Calculate the book value of a bond and the interest expense using the effective interest rate method.
  • Distinguish between operating lease and finance lease.
  • Understand how accounting methods and estimates can affect reported earnings, financial position, and classification of cash flows.
  • Be aware of warning signs of earnings manipulation.
  • Apply analytic methods to forecast future earnings and cash flows.
  • Understand the common types of adjustments to financial statements for comparability purposes.
Requirements
  • Basic mathematics knowledge
Description

Bestselling and Highest Rated CFA® courses on Udemy!

(for 2020 and 2021 CFA® Level I exam)

The CFA® program is rewarding but gruelling. The majority of candidates fail the exam. In order to pass, you are going to need much more than summaries or crash courses. But we can fully empathise if you feel the curriculum is too lengthy and too difficult given your busy schedule.

That is why we have crafted for you this complete series of 10 courses covering all 10 topics of the CFA® curriculum. These courses are not superficial summaries, but a detailed and concise coverage of the curriculum for each topic area.

We keep our videos short so as to help you follow the Pareto Principle. We believe that if you put in the optimal 20% effort using the right approach, you can potentially achieve 80% of the results!

The PrepNuggets approach is to condense pertinent material from the curriculum to easily digestible nuggets for you to consume during your pockets of free time. Each nugget is painstakingly crafted to explain really complex concepts using engaging illustrations and animations. No more wading through pages and pages of words, or sitting through long boring lessons with bullet-point slides.

By the end of this course, we are confident you will be able to comfortably handle at least 80% of the questions under this topic area.

Don't take our word for it! Hear what some of our students have to say:

  • "This is an INCREDIBLY useful course for visual learners. The concepts are clear and concise. You will begin to see the relationships between concepts as you progress. Excited for the rest of this course and the other courses in the rest of the series." - Andrew Bachman

  • "One of the best courses I've seen, if not the best. Prepnuggets staff know how to pass on knowledge, both by visualization and by verbal explanations. Excited to finish this course and continue to other courses." - Lidor Sigron

Take action now! It is never too early or too late to start preparing. Join thousands of CFA candidates worldwide in making us your preferred prep companion!

———

*NOTE: This course is part of a complete series of 10 courses that fully cover all 10 topics for CFA® Level I. We recommend you begin your exam preparation with our Quantitative Methods course. For our full catalog of courses, look for our instructor profile down below and click on the PrepNuggets logo.


REQUIRED DISCLAIMER: CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by PrepNuggets or Udemy. CFA Institute, CFA®, and Chartered Financial Analyst® are trademarks owned by CFA Institute.

Who this course is for:
  • This course is for CFA Level 1 Candidates
  • This course is for people who are interested in the CFA Program
Course content
Expand all 68 lectures 07:58:11
+ Introduction
2 lectures 04:26
Formulas, Definitions, Diagrams at your FINGERTIPS!
00:46
+ Financial Statement Analysis: An Introduction
4 lectures 15:26
Major Financial Statements
08:01
Auditor’s Report and Other Sources of Information
04:23
Financial Statement Analysis Framework
02:54
Test Your Understanding
00:08
+ Financial Reporting Mechanics (removed from 2019 exam onwards)
5 lectures 24:41
Financial Reporting Mechanics has been removed from 2019 Exam Onwards
00:13
Business and Accounting Process
13:28
Accrual Accounting and Valuation Adjustments
05:56
Accounts and Financial Statements
04:55
Test Your Understanding
00:09
+ Financial Reporting Standards
4 lectures 20:06
Standard Setting Bodies
06:54
The IFRS Framework
08:59
Convergence, Comparison, and Evolution of Standards
04:04
Test Your Understanding
00:09
+ Understanding Income Statements
10 lectures 01:07:06
Revenue Recognition (updated for 2020)
12:33
Inventory Expense Recognition
09:40
Depreciation and Amortisation Expense Recognition
06:38
Non-Recurring Items and Non-Operating Items
05:42
Diluted Earnings Per Share
12:41
Common-Size and Ratio Analysis
03:49
Comprehensive Income
02:29
Test Your Understanding
00:09
+ Understanding Balance Sheets
8 lectures 39:48
Components and Format of the Balance Sheet
04:52
Current Assets
05:58
Current Liabilities
02:07
Non-Current Assets
12:24
Non-Current Liabilities
03:05
Owners’ Equity
07:19
Test Your Understanding
00:09
+ Understanding Cash Flow Statements
4 lectures 37:11
Principles and Classifications of Cash Flows
07:02
Methods of Presentation
17:17
Test Your Understanding
00:09
+ Financial Analysis Techniques
5 lectures 49:51
Analytical Process Tools and Techniques
10:02
Activity, Liquidity and Solvency Ratios
17:08

LOS 27e. Calculate and interpret ratios used in equity analysis and credit analysis.

LOS 27f. Explain the requirements for segment reporting and calculate and interpret segment ratios.

LOS 27g. Describe how ratio analysis and other techniques can be used to model and forecast earnings

Equity and Credit Analysis
12:56
Test Your Understanding
00:09
+ Inventories
4 lectures 35:37

LOS 28a. Distinguish between costs included in inventories and costs recognised as expenses in the period in which they are incurred;

LOS 28g. Describe the measurement of inventory at the lower of cost and net realisable value;

LOS 28h. Describe implications of valuing inventory at net realisable value for financial statements and ratios;

Inventory Accounting
10:39

LOS 28b. Describe different inventory valuation methods (cost formulas);

LOS 28c. Calculate and compare cost of sales, gross profit, and ending inventory using different inventory valuation methods and using perpetual and periodic inventory systems;

LOS 28d. Calculate and explain how inflation and deflation of inventory costs affect the financial statements and ratios of companies that use different inventory valuation methods;

Inventory Valuation Methods
13:38

LOS 28e. Explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios;

LOS 28f. Convert a company’s reported financial statements from LIFO to FIFO for purposes of comparison;

LOS 28i. Describe the financial statement presentation of and disclosures relating to inventories;

LOS 28j. Explain issues that analysts should consider when examining a company’s inventory disclosures and other sources of information;

LOS 28k. Calculate and compare ratios of companies, including companies that use different inventory methods;

LOS 28l. Analyze and compare the financial statements of companies, including companies that use different inventory methods.

Preview 11:11
Test Your Understanding
00:09
+ Long-Lived Assets
5 lectures 48:59

LOS 29a. Distinguish between costs that are capitalised and costs that are expensed in the period in which they are incurred.

LOS 29b. Compare the financial reporting of the following types of intangible assets: purchased, internally developed, acquired in a business combination.

LOS 29c. Explain and evaluate how capitalising versus expensing costs in the period in which they are incurred affects financial statements and ratios

Capitalisation of Long-Lived Assets
09:57

LOS 29d. Describe the different depreciation methods for property, plant, and equipment and calculate depreciation expense.

LOS 29e. Describe how the choice of depreciation method and assumptions concerning useful life and residual value affect depreciation expense, financial statements, and ratios.

Depreciation of PP&E
14:58

LOS 29f. Describe the different amortisation methods for intangible assets with finite lives and calculate amortisation expense.

LOS 29g. Describe how the choice of amortisation method and assumptions concerning useful life and residual value affect amortisation expense, financial statements, and ratios.

Amortisation of Intangibles
08:38

LOS 29h. Describe the revaluation model.

LOS 29i. Explain the impairment of property, plant, and equipment and intangible assets.

LOS 29j. Explain the derecognition of property, plant, and equipment and intangible assets.

LOS 29k. Explain and evaluate how impairment, revaluation, and derecognition of property, plant, and equipment and intangible assets affect financial statements and ratios.

LOS 29l. Describe the financial statement presentation of and disclosures relating to property, plant, and equipment and intangible assets.

LOS 29m. Analyze and interpret financial statement disclosures regarding property, plant, and equipment and intangible assets.

LOS 29n. Compare the financial reporting of investment property with that of property, plant, and equipment.

Impairments, Revaluation and Derecognition
15:17
Test Your Understanding
00:09