2015 CFA Program: Level I Errata 8 May 2015 To be fair to all candidates, CFA Institute does not respond directly to individual candidate inquiries. If you have a question concerning CFA Program content, please contact CFA Institute (info@cfainstitute.org) to have potential errata investigated. The eBook for the 2015 curriculum is formatted for continuous flow, so the text will fit all screen sizes. Therefore, eBook page numbering—which is linked to section heads—does not match page numbering
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book value per share. B Problems 2, 3, 4, 7, 8, 11, 12 1A, 3A, 6A 1B, 3B 5, 7, 9 11, 12 2A, 3A, 6A 2B, 3B 6, 7, 10, 11, 12, 24 1A, 3A, 6A 1B, 3B 5, 6 13, 14, 15, 16, 25 4A, 5A, 7A 4B, 6B 10, 11 7 17, 18 5A 5B, 6B 8 10, 11, 19, 20, 21, 22, 23, 25 1A, 2A, 3A, 4A, 5A, 6A, 7A, 8A 1B, 2B, 3B, 4B, 5B, 6B, 7B Describe the use and content of the statement of changes in equity. *9 A Problems 12 Study Objectives
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It is interesting to note how economists fight among themselves in an attempt to find solutions to emerging and existing problems of societies. These discrepancies may be as a result of the subjective approach and diverse beliefs of different economists to a particular problem. This has been in existence over a time and has given birth to two main different approaches to explain the workings of the economy as a whole. These approaches are the Classical Approach and the Keynesian Approach. These approaches
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background………………………………………………………………………………………………….3 Business problem………………………………………………………………………………………………………………..5 High level of solution…………………………………………………………………………………………………………..5 Benefits of solving the problem…………………………………………………………………………………………..9 Business Approach……………………………………………………………………………………………………………..11 Business process changes……………………………………………………………………………………………………11 High level implementation plan …………………………………………………………………………………………11 Business practices used to augment the solution………………………………………………12 Conclusion
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Case: American Home Products 1) What are the problems confronting the company? As it has been mentioned in the case, American Home Products (AHP) is a successful and a highly expanding company that produces a host of products in four separate business lines: prescription drugs, packages drugs, food products, and housewares and household products. The success of the company is mainly due to its outstanding marketing department. In fact, instead of investing money in research and development in
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.............................................................. 4 Lessons Learned ............................................................................................................................................ 5 Solving a fundamental problem ............................................................................................................ 5 Marketing .............................................................................................................................
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Equity ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Shareholders’ rights; corporate form. 2. Equity. Questions 1, 2, 3 4, 5, 6, 16, 17, 18, 29, 30, 31 7, 10 8, 9 3 7, 10, 16, 17 1, 2, 4, 6, 9 3, 4, 5, 6 1, 2, 3, 9 Brief Exercises Exercises Problems Concepts for Analysis 1 3. Issuance of shares. 4. Noncash share transactions; lump sum sales. 5. Treasury share transactions, cost method. 6. Preference stock. 7. Equity accounts; classifications; terminology. 8. Dividend policy. 9. Cash and share
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Flows • The financial manager is responsible for making decisions that are in the best interest of the firm’s owners. • A firm generates cash flows by selling the goods and services produced by its productive assets and human capital. After meeting its obligations, the firm can pay the remaining cash, called residual cash flows, to the owners as a cash dividend, or it can keep the money and reinvest the cash in the business. • A firm is unprofitable when it fails to
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7, 8, 9, 28 10, 11, 12, 13, 14 1, 3, 4 Problems 2 Concepts for Analysis 1 1, 3 2, 4 4. 5. 15 12, 13, 14 22, 23, 27 6 5, 7 6. 7. 8. 9. 22, 23 15, 16 24, 25 10, 11 9, 15 28 15, 16, 17, 18, 21 5, 6, 7, 8, 9 5, 7 5, 6, 7 19, 20, 21, 22, 23, 24, 26, 27, 28 27 29, 30 7, 8, 9 10. *11. *This material is dealt with in an Appendix to the chapter. Copyright © 2010 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 13/e, Solutions Manual (For Instructor Use Only)
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and competencies. The learning objectives have been designed to ensure that the competencies are met. In addition, information is provided on the proportion of each question type presented in the examination (that is, multiple choice, quantitative problems, and so on). Use Candidates should use the examination blueprint to prepare for the course examination. The blueprint may not include all the topics listed in the course materials; however, candidates are still responsible for acquiring a broad-based
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