Taking a course like Introduction to Financial Accounting helps in Financial Reporting and Analysis?

@k10111v, Considering that you have enough time, looking at the course I think it would definitely be an add on to much of the concepts that the CFAI will cover. You will also have a practical understanding when you try to understand concepts while looking at a listed company

My 2 cents are that anything helps, but at the end of the day you need to know the CFA material thoroughly. If time is no issue, and you hate reading the same material multiple times, then read the non-CFA material first, then dive into the CFA material after (and never go back to the non-CFA material before the exam as there could be differences between the books and you want to completely forget those before the exam).

Reading the other material could help for sure. It will prepare your mind better for the CFA material. But it won’t give you an edge by giving you extra knowledge, cause the CFA exam only covers stuff in the CFA material. As I said above, the main advantage is giving yourself more knowledge before diving into the CFA stuff, especially if you have a hard time reading the same material multiple times (you can go through the CFA/Schweser stuff only 1 or 2 times instead of 3 times for example).

@k10111v having background knowledge will definitely help – just that if your sole purpose is passing the CFA exams, it may not be the best use of your time. But if you’d like more background knowledge on finance, by all means! 🙂

Hi @k10111v, the CFAI text for Financial Reporting Analysis is basic enough that you don’t need to read anything else as a pre-requisite. It is also long enough that it will likely take you a few months if you are like me and like to get deep into your understanding. And finally, if you are registering for the CFA Level 1 exam in June, which is my assumption, at this point you don’t want to be distracted with another text on a related subject; it may get you confused at times. My advice to you would be to focus on the CFAI material, and try to master it. It will pay you amazing dividends!… If you want, keeping a basic text on the side, just in case you need to understand a concept or something like that could be helpful, but definitely not focus on that one… Good luck!

Ok, @k10111v, in that case you may want to take that coursera as a first introduction, before you start studying for the CFA Level 1.

Just be careful with the time; for example, try to take that course in a pre-determined period of time (say 3 months). Then, when you finally start studying for CFA, you have enough time for the whole syllabus. The exam covers a lot of information and time really flies when you are into it.

I’m a cpa & this section would b a lot easier if you understood the underlying journal entries. Even people with investment backgrounds find this section the hardest. However you will obv be learning JEs more than anything else in your class n that’s only going to give you an understanding, its not really discussed in the curriculum

So to be clear it will help you, but it’s going to take a lot more time

@k10111v, taking course is not at all required. the text book provides very good basics even for who have come from non finance back ground

The issue is I don’t know if there’s simplification or things that are adjusted for the CFA curriculum vs Coursera’s course. I know for sure in the accounting world of US GAAP vs IFRS things may change (in the real world) and may not be as complicated in CFA. My personal view is that not having finance background is OK, but if you want to learn (just for interest) it’s not a bad idea to try out Coursera, bearing in mind that if there’s any conflict the CFA materials will supersede (for exam purposes).