- CFA Exams
- 2021 Level I
- Study Session 6. Financial Reporting and Analysis (1)
- Reading 20. Financial Reporting Standards
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Learning Outcome Statements PDF Download
| 1. The Objective of Financial Reporting a. describe the objective of financial reporting and the importance of financial reporting standards in security analysis and valuation; | |
| 2. Financial Reporting Standard-Setting Bodies and Regulatory Authorities b. describe the roles of financial reporting standard-setting bodies and regulatory authorities in establishing and enforcing reporting standards; | |
| 3. The International Financial Reporting Standards Framework c. describe the International Accounting Standards Board's conceptual framework, including qualitative characteristics of financial reports, constraints on financial reports, and required reporting elements; | |
| 4. General Requirements for Financial Statements d. describe general requirements for financial statements under International Financial Reporting Standards (IFRS); | |
| 5. Comparison of IFRS with Alternative Reporting Systems e. describe implications for financial analysis of alternative financial reporting systems and the importance of monitoring developments in financial reporting standards. | |
| 6. Effective Financial Reporting e. describe implications for financial analysis of alternative financial reporting systems and the importance of monitoring developments in financial reporting standards. | |
| 7. Monitoring Developments in Financial Reporting Standards e. describe implications for financial analysis of alternative financial reporting systems and the importance of monitoring developments in financial reporting standards. |
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