- CFA Exams
- 2021 Level I
- Study Session 9. Financial Reporting and Analysis (4)
- Reading 29. Financial Reporting Quality
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Learning Outcome Statements PDF Download
| 1. Reporting Quality and Results Quality a. distinguish between financial reporting quality and quality of reported results (including quality of earnings, cash flow, and balance sheet items); | |
| 2. Quality Spectrum of Financial Reports b. describe a spectrum for assessing financial reporting quality; c. distinguish between conservative and aggressive accounting; | |
| 3. Context for Assessing Financial Reporting Quality d. describe motivations that might cause management to issue financial reports that are not high quality; e. describe conditions that are conducive to issuing low-quality, or even fraudulent, financial reports; f. describe mechanisms that discipline financial reporting quality and the potential limitations of those mechanisms; | |
| 4. Detection of Financial Reporting Quality Issues g. describe presentation choices, including non-GAAP measures, that could be used to influence an analyst's opinion; h. describe accounting methods (choices and estimates) that could be used to manage earnings, cash flow, and balance sheet items; i. describe accounting warning signs and methods for detecting manipulation of information in financial reports. |
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