|Author||Topic: If accounting is so easy...|
|...then why many of CFA candidates are killed by the topic every year?
...then you wouldnt find that you have to be more than a master of the subject to pass the exam...
...then you won't have to guess a lot on the adjustment questions.
...then you won't spend the most time to study ACCOUNTING in the first two levels.
...then CFA Institute wouldn't weight it so heavy in the program.
The sad truth is most of the CFA candidates (and CFA charter holders) are not good at the subject at all. And the even worst truth is a lot of analyst/PM wannabee CFA candidates will forget the accounting materials they learned from the CFA program after they took the exams. And the worst of the worst is that those candidates/charter holders always say accounting, which they know so little and forgot so much, is easy and dumb...
|BTW, someone started a thread called "How I taught Accounting to my Dog". I think it's insulting to the CFA program...and all of us.|
|I think accounting in CFA is fairly challenging, and I aced my accounting classes both in Highschool and college.
The truth is that with the varying treatments with both GAAP & IFSR and the sheer volume of accounting, that if you don't focus a great deal of time on Financial Reporting & Analysis, you will get killed.
Finance is loaded with accounting, always has been and always will be.
I feel that alot of people disrespect the accounting portion because so much of it could be done by a computer. The key is still to understand it even if you don't have to use it professionally on a daily basis.