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  1. CFA Exam: Dec. 2019 Level I
  2. Study Session 9. Financial Reporting and Analysis: Financial Reporting Quality and Financial Statement Analysis
  3. Reading 32. Financial Statement Analysis: Applications

Learning Outcome Statements

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1. Evaluating Past Financial Performance

a. evaluate a company's past financial performance and explain how a company's strategy is reflected in past financial performance;
2. Projecting Future Financial Performance

b. forecast a company's future net income and cash flow;
3. Assessing Credit Risk

c. describe the role of financial statement analysis in assessing the credit quality of a potential debt investment;
4. Screening for Potential Equity Investments

d. describe the use of financial statement analysis in screening for potential equity investments;
5. Analyst Adjustments to Reported Financials

e. explain appropriate analyst adjustments to a company's financial statements to facilitate comparison with another company.