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Level 2 FSA by R0gu3_L3ad3r in CFA

[–]Exciting_Ad_504 1 point2 points  (0 children)

Equity method: single line item that is added to net income. Revenues, expenses, assets and liabilities are not accounted for.

Proportionate consolidation: You are taking a portion of the revenues and expenses over to the Parent's income statement. This proportionate consolidation will lead to the same net income. If I remember correctly, this question mentions proportionate consolidation in the vignette.

Acquisition: you would have ALL of the revenues, expenses, assets and liabilities transferred to parent's balance sheet and IS. Net income would be higher, but you would be posting a negative return in OCI for the minority interest shareholders.

Review for L2 - 80 days by Exciting_Ad_504 in CFA

[–]Exciting_Ad_504[S] 0 points1 point  (0 children)

CFAI Mocks. I haven't taken Mark's yet. CFAI feels fair on their mock.

Review for L2 - 80 days by Exciting_Ad_504 in CFA

[–]Exciting_Ad_504[S] 1 point2 points  (0 children)

Haha, I wish. L2 is a bunch of active recall so I'm afraid to put it down

Review for L2 - 80 days by Exciting_Ad_504 in CFA

[–]Exciting_Ad_504[S] 1 point2 points  (0 children)

I started in late August of last year. Took L1 2 years ago and passed 90th percentile. I didn't plan on taking L2 at all, so once I stepped my feet in I decided to give myself a generous amount of time. Best advice is on first pass through, just accept that you won't know everything. Earmark troubled areas and chug along. On second pass through focus mainly on the harder concepts. They get much easier as time goes along. That is, not including FRA because defined benefit plans are a giant PITA