@ykilstein
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Up5
PS I moved states. That’s why I want the QBank again.
Up5Stupid Q: how do you delete a comment? (Or 2)
Up4PS CFAI’s language tends to be obtuse.
Up4Never 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…)
Up3You guys prob had a hard day and you prob don’t hear it enough: you’re awesome.
@zee I agree. More *** formulas. (Formulae is more fun 🙂This forum is tremendous. Wish I found it earlier.
Tangent, I want to get in the exam and talk everything semi-out loud. “Temporal net income plus current… *** it!” “Will you shut up!” “Oh, sorry.”
Up3PS It may be that C & S simply don’t thoroughly update their material/EOCQ’s.
Up3@diya Mother.
Up3@Alex_Dolson‌ If that Word offer is still open, I’d like to take you up on it.
Up3Hey 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 – ↑ reserve – charges incl. in COGS for inventory write-downs (charges)
INV FIFO = gross INV LIFO + reserve
NI F = NI L + ↑ reserve – (↑ reserve X T) + charges
CFO F = CFO L – ↑ 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) + (↑ reserve x new tax)
Q: Is that for regular “yearly” taxes? I see Taxes F = T F + (↑ reserve x T)Cash F = cash L – ↑ 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.
Up2Would preferred dividends be taxed when adding to get FCFF, like interest?
Up1Does CFAI offer practice exams/mocks/samples from prior years?
Up1Thanks, @zee. I’ve been in marketing for a while. I play around with subject lines to send to…PM’s 🙂
@sophie, here’s the link for the full Q: http://books.google.com/books?id=XCL9bkrOrpcC&lpg=PA81&ots=6gcdZlnhLh&dq=CFA%20%22military%20confrontations%22%20%22equity%20risk%20premium%22&pg=PA81#v=onepage&q&f=trueIt’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.
Up1Analyst forums had the same Q but I don’t think they helped. http://www.analystforum.com/forum/s/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…)
