2016 CFA level I考綱變動(dòng)分析
2016年  CFA level I考綱變動(dòng)的科目為：財(cái)報(bào)、組合、權(quán)益、權(quán)益、固收和另類；
變動(dòng)較大的科目為：財(cái)報(bào)、組合和固收；
其中，數(shù)量新增一個(gè) reading；固收刪除一個(gè) reading，組合刪除三個(gè) reading，新增兩個(gè)  reading.
具體變動(dòng)情況如下：
1、財(cái)報(bào)
SS7,R23.FinancialReportingMechanics
a describe how business activities are classified for financial reporting purposes（新增）
SS8，R25.UnderstandingIncomeStatements
d describe key aspects of the converged accounting standards issued by the International
Accounting Standards Board and Financial Accounting Standards Board in May 2014;（新增）
SS9，Reading29:Inventories
c calculate and compare cost of sales, gross profit, and ending inventory using different inventory
valuation methods and using perpetual and periodic inventory systems;（調(diào)整）
d calculate and compare cost of sales, gross profit, and ending inventory using perpetual and
periodic inventory systems;（刪除）
e compare cost of sales, ending inventory, and gross profit using different inventory valuation
methods;（刪除）
d calculate and explain how inflation and deflation of inventory costs affect the financial statements
and ratios of companies that use different inventory valuation methods;（新增）
e explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios;（新增）
f convert a company’s reported financial statements from LIFO to FIFO for purposes of comparison;（新增）
h describe implications of valuing inventory at net realisable value for financial statements and
ratios;（新增）
j explain issues that analysts should consider when examining a company’s inventory disclosures
and other sources of information;（新增）
k calculate and compare ratios of companies, including companies that use different inventory
methods;（新增）
l analyze and compare the financial statements of companies, including companies that use
different inventory methods.（新增）
Evaluation Only. Created with Aspose.Pdf. Copyright 2002-2014 Aspose Pty Ltd.
SS9,Reading30:Long-livedAssets
c explain and *uate how capitalising versus expensing costs in the period in which they are
incurred affects financial statements and ratios;（新增）
e describe how the choice of depreciation method and assumptions concerning useful life and
residual value affect depreciation expense, financial statements, and ratios;（調(diào)整）
f describe the different amortisation methods for intangible assets with finite lives and  calculate
amortisation expense;（調(diào)整）
g describe how the choice of amortisation method and assumptions concerning useful life and
residual value affect amortisation expense, financial statements, and ratios;（調(diào)整）
k explain and *uate how impairment, r*uation, and derecognition of property, plant, and
equipment and intangible assets affect financial statements and ratios;（新增）
m analyze and interpret financial statement disclosures regarding property, plant, and equipment
and intangible assets;（新增）
o explain and *uate how leasing rather than purchasing assets affects financial statements and
ratios;（新增）
p explain and *uate how finance leases and operating leases affect financial statements and
ratios from the perspective of both the lessor and the lessee.（新增）
SS9,Reading31:IncomeTaxes
h explain recognition and measurement of current and deferred tax items;（調(diào)整）
2、組合
SS12,Reading42.RiskManagement:AnIntroduction（新增）
a define risk management;
b describe features of a risk management framework;
c define risk governance and describe elements of effective risk governance;
d explain how risk tolerance affects risk management;
e describe risk budgeting and its role in risk governance;
f identify financial and non-financial sources of risk and describe how they may interact;
g describe methods for measuring and modifying risk exposures and factors to consider in choosing
among the methods.
3、權(quán)益
SS14,Reading50:IntroductiontoIndustryandCompanyAnalysis
g explain the effects of barriers to entry, industry concentration, industry capacity, and market
share stability on pricing power and price competition;（調(diào)整）
SS14,Reading51:EquityValuation:ConceptsandBasicTools
g 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;（微調(diào)）
Evaluation Only. Created with Aspose.Pdf. Copyright 2002-2014 Aspose Pty Ltd.
4、固定收益
SS15,Reading53:Fixed-IncomeMarkets:Issuance,Trading,andFunding
i describe repurchase agreements (repos) and the risks associated with them.（調(diào)整）
SS15,Reading55.IntroductiontoAsset-BackedSecurities
b describe the securitization process, including the parties to the process, the roles they play,  and
the legal structures involved;（刪除）
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 explain the cash flows and risks
for each type;（調(diào)整）
f define prepayment risk and describe the prepayment risk of mortgage-backed securities;（新增）
i describe collateralized debt obligations, including their cash flows and risks.（原來是 credit risk）
SS16,Reading57.FundamentalsofCreditAnalysis
b describe default probability and loss severity as components of credit risk;（新增）
f explain the four Cs (Capacity, Collateral, Covenants, and Character) of traditional credit analysis;（調(diào)整）
i describe factors that influence the level and volatility of yield spreads;（刪除）
5、另類
SS18,Reading64.IntroductiontoAlternativeInvestments
f describe issues in valuing and calculating returns on hedge funds, private equity, real estate,
commodities, and infrastructure;（調(diào)整）