ykilstein

# ykilstein

## Forum Replies Created

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• ykilstein
Participant
1

If you’re doing it online/not THE PDF’s, the answer letters won’t match what you wrote. Make sure your answer is the same as the one given in content – not answer letter.

• ykilstein
Participant
4

Never mind, they’re not taxed. Just added.

We addressed this, but would deferred taxes come into play for FCF formulas in the equity section? (I think not…)

• ykilstein
Participant
2

Would preferred dividends be taxed when adding to get FCFF, like interest?

• ykilstein
Participant
0

CFAI informed me it’s prohibited. It’s really not but I just thought of it. You could tell the proctor ahead of time..

• ykilstein
Participant
0

Thanks for that, @Zeeâ€Œ.

• ykilstein
Participant
5

Stupid Q: how do you delete a comment? (Or 2)

• ykilstein
Participant
3

Hey all,

I wanted to get the LIFO reserve formulas all in one place bc the text doesn’t and they trip you up every time they can w the EOC Q’s.

Here are all of them and I’ll question some of them.

COGS FIFO = COGS LIFO – â†‘ reserve – charges incl. in COGS for inventory write-downs (charges)

INV FIFO = gross INV LIFO + reserve

NI F = NI L + â†‘ reserve – (â†‘ reserve X T) + charges

CFO F = CFO L – â†‘ reserve X T

Q: Would all the figures get that damn “charges” figure to deal with? (If you don’t know what I’m talking abt, you can look at the LIFO reserve EOC Q’s to get majorly frustrated.)

Retained Earnings/Equity/”profit retained in business” F = RE L + reserve x (1-T)
Q: Is this accurate? I see conflicting formulas in the CFAI curriculum vs. the EOC.

Cumulative taxes F = cum. T L + (beg. reserve x beg. tax) + (â†‘ reserve x new tax)
Q: Is that for regular “yearly” taxes? I see Taxes F = T F + (â†‘ reserve x T)

Cash F = cash L – â†‘ reserve x T
Q: All of these are the same Q: is yearly taxes or cumulative taxes the # we’re supposed to use? I saw CFAI do it w cumulative taxes.

Thank you much. Hope this helped.

• ykilstein
Participant
3

@Alex_Dolsonâ€Œ If that Word offer is still open, I’d like to take you up on it.

• ykilstein
Participant
0

Even tho the #’s are right, the book’s formula still makes no sense.

I hear what you’re saying. Better to think abt it as Price/Base. If you’re in Australia and you’re dealing GBP for EUR’s, who gives a rat’s behind what country everyone’s in.

With all that bid-ask inverse stuff, my econ is glaringly lacking.

• ykilstein
Participant
4

I believe what you’re saying is ignore notation (f/d) and “go down” the direction they want you to. (GBP/EUR) This relates to Econ exchange rates and I see from here that could use some work!

Thx @vincentt

• ykilstein
Participant
0

Thanks so much, @christine. I’ll email them.

Yeah, I agree. QBank is good for drilling in the formulas and concepts into your brain.

• ykilstein
Participant
5

PS I moved states. That’s why I want the QBank again.

• ykilstein
Participant
1

@maroon5 @zee I agree w both of you. @sophie said on another post that the material is the best guide – that’s what’s on the exam! If I need more, I’ll turn to those videos, Schweser & of course, 300H.

• ykilstein
Participant
3

@tacheman you gt read the news to be on the same page at work – esp. in finance. But I can justify your answer with: whatever you’re reading in the Journal on the way to work, you should have read on Bloomberg the day before.

• ykilstein
Participant
5

@alta12 It would, but it won’t be.

• ykilstein
Participant
1

Wow! Thanks for that! That beg. equity helped me more than the “T” :)>-

• ykilstein
Participant
0

ERP is a central concept (CAPM, etc.) but when you step outside the formulas, it’s like, “How do I walk, again?”

• ykilstein
Participant
1

@sophie this was incredible. I believe it was that formulaic relationship (ERP = mkt return – RFR) that I was missing. Index card!

I’ll def take a look at that paper. (after June 1st) ðŸ™‚

• ykilstein
Participant
1

Analyst forums had the same Q but I don’t think they helped. http://www.analystforum.com/forums/cfa-forums/cfa-level-ii-forum/91109385

Again, even though this seems silly (“So what’s 20 million people between warlord friends?”), there seems to be a crucial concept there. Like yields go up, bond prices go down. (Wait, I gt write that down…)

• ykilstein
Participant
1

Thanks, @zee. I’ve been in marketing for a while. I play around with subject lines to send to…PM’s ðŸ™‚

It’s page 81 and the link should bring you to just above where the vignette starts. You can Ctrl-F for “military”.

They’re not asking what to do as an adjustment, rather what the bad times would do to the ERP. I do not understand the verbiage of CFAI and/or how it relates to the Q+A.