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300Hours: Finance Certifications Hub for CFA, FRM & CAIA

cfa level 1 fra

CFA Level 1 FSA Cheat Sheet: Key Formulas & Ratios (2026 Update)

Sophie Macon

3 Jan 2026

CFA, CFA Level 1

Financial Statement Analysis (FSA) is the second-largest topic in CFA Level 1, with an 11%–14% weighting. This cheat sheet covers the 12 Learning Modules (LMs), including IFRS vs. GAAP differences, LIFO to FIFO conversions, and Revenue Recognition. Mastering these ratios is essential for scoring above the 70% benchmark. Ah, I remember the days where I looked at the sheer volume of formulae and concepts in CFA Level 1 FSA (Financial Statement Analysis) in despair. And how I felt 5x worse when ...