Just got to my computer after 3 hours of hard work on Financial Statement Analysis; the topic with the maximum weightage in the level 1 CFA exam. And guess what I come across while reading one of my favorite blogs (freakonomics) over the net.
A new post that advises people to put those accounting classes on hold, according to an article on the Wall Street journal.
If this comes to happen; more than half of the financial ratios that i have mugged up will lose their existence; as most of them are based on the net income which these new standards will not have a place for; neither above nor below the line.
I am sure the CFA guys would be scrambling for setting up a new syllabus and all those accounting authors brushing up their knowledge for rewriting their texts.I guess I should also take an active part in the US culture and go sue those
guys who are responsible for this change; thankfully I wont need to do
that as this is not affecting me; at least not in the short run. My exam is within a week and I do not have to do anything like that; otherwise it would have been the last nail in the coffin and I would have decided to cancel the visit to Sri Lanka to write the exam.
A new post that advises people to put those accounting classes on hold, according to an article on the Wall Street journal.
If this comes to happen; more than half of the financial ratios that i have mugged up will lose their existence; as most of them are based on the net income which these new standards will not have a place for; neither above nor below the line.
I am sure the CFA guys would be scrambling for setting up a new syllabus and all those accounting authors brushing up their knowledge for rewriting their texts.I guess I should also take an active part in the US culture and go sue those
guys who are responsible for this change; thankfully I wont need to do
that as this is not affecting me; at least not in the short run. My exam is within a week and I do not have to do anything like that; otherwise it would have been the last nail in the coffin and I would have decided to cancel the visit to Sri Lanka to write the exam.
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