Introduction to Financial Statement Analysis (2023 Level I CFA® Exam – FRA – Module 1)

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Topic 3 – Financial Reporting & Analysis
Module 1 – Introduction to Financial Statement Analysis
0:00 Introduction and Learning Outcome Statements
2:47 LOS : Describe the roles of financial reporting and financial statement analysis.
4:58 LOS : Describe the roles of the statement of financial position, statement of comprehensive income, statement of changes in equity, and statement of cash flows in evaluating a company’s performance and financial position.
12:41 LOS : Describe the importance of financial statement notes and supplementary information — including disclosures of accounting policies, methods, and estimates — and management’s commentary.
15:56 LOS : Describe the objective of audits of financial statements, the types of audit reports, and the importance of effective internal controls.
22:38 LOS : Identify and describe information sources that analysts use in financial statement analysis besides annual financial statements and supplementary information.
24:54 LOS : Describe the steps in the financial statement analysis framework.