I found this pension topic to be very difficult. The concept is easy once you understood what’s going on but the problem is that it is hard to figure out what is really going on. Again, the CFAI text was poorly written in which the writer just keep on taking to himself. For each sub-topic, the CFAI just give one or two examples but you are left to reverse engineer on what’s going on. It does not help that the text keeps on switching from IFRS to US GAAP and back to IFRS. Very often, it is very unclear which standard it is discussing and so it is easy to get confused. There is also no proper formula because they expect you to reverse engineer from the examples. I took nearly two full days to figure out what’s happening and that’s after combining the resources from Schweser’s video slides, notes, Schweser’s notes’ question and the answers to the CFAI end of chapter questions. It is really so unproductive.
Wednesday, February 17, 2010
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Hi, I'm doing level 2 right now as well, and I feel like I've made a fairly concise summary of the sections I've read so far, complete with formulas in word doc format. I went with Stalla instead of Schweisser; also I am not touching the CFAI books at all. Still, if you're interested in seeing the notes I have for this section, or any other for that matter, let me know, perhaps you would find it more concise; perhaps we could trade if you have something similar. email me if interested.
- Matt
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