Saturday, February 13, 2010

Intercorporate Investments

Once again, the Financial Statement Analysis is very difficult. I am stuck with the Intercorporate Investments Reading 21. On the surface, it is only one chapter. But the LOS requires knowledge of so many things and the comparison between US GAAP and IFRS is driving me crazy. The CFAI text is very poorly written. It just show one or at most two examples for each point and expect the reader the reverse engineer. It was exactly the kind of problem I faced in Level 1. The Schweser notes didn’t help much as it was also not well organized for this topic. However, the Video help a lot. Especially the video slides. Nevertheless, I have to compile my own notes. It is really a struggle. This year, I am not so prepared like last year. Also, after having such a low pay last year due to the recession, I am highly unwilling to sacrifice low pay again. I think I might actually fail this exam…

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