エピソード

  • Material Nonpublic Information: Insider Trading and the CFA Ethics Rules

    Material Nonpublic Information: Insider Trading and the CFA Ethics Rules
    2026/10/18
    What happens when an investment analyst discovers information that could move a company’s stock price before the public knows about it? This episode examines insider trading, material nonpublic information, and Standard II(A) of the CFA Institute Code and Standards. We’ll explore the mosaic theory, examine realistic investment scenarios, and explain how to distinguish legitimate financial research from unethical trading. An essential review for CFA Level I candidates, with connections to securities regulation, the SIE exam, and white-collar crime investigations.
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    4 分
  • Type I vs. Type II Errors: The Mistake That Changes Everything

    Type I vs. Type II Errors: The Mistake That Changes Everything
    2026/10/11
    4 分
  • CFA Level I Ethics: The Code and Standards You Must Know

    CFA Level I Ethics: The Code and Standards You Must Know
    2026/10/04
    Ethics is one of the most important areas of the CFA Level I exam, and it requires more than simply memorizing a list of rules. In this episode of CFA in the Car, we break down the CFA Institute Code of Ethics and introduce the Standards of Professional Conduct that candidates are expected to apply to real-world situations. You’ll learn the principles behind professionalism, integrity, independent judgment, and putting clients’ interests first. We’ll also look at the kinds of scenarios that can turn an apparently obvious ethical question into a difficult exam problem. By the end, you should have a framework for thinking through CFA ethics questions rather than relying on memorization alone.
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    3 分
  • ASC 740 on the CFA Exam: Temporary Differences, Deferred Taxes, and the Effective Rate Story

    ASC 740 on the CFA Exam: Temporary Differences, Deferred Taxes, and the Effective Rate Story
    2026/09/27
    This guide walks CFA candidates through the ASC 740 framework that sits behind U.S. GAAP income-tax notes. It separates differences that reverse from those that never do, then shows how those differences become deferred tax assets and liabilities. It explains when a valuation allowance is required, how intraperiod allocation splits the tax line, and how uncertain tax positions change both the provision and the footnotes. The goal is to turn a dense disclosure into usable analysis of earnings quality, cash taxes, and ratio distortion.
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    5 分
  • Master the Road to ASC 842: Essential Lessee & Lessor Accounting for the Commute

    Master the Road to ASC 842: Essential Lessee & Lessor Accounting for the Commute
    2026/09/23
    Turn your daily drive into high-yield study time with this audio breakdown of ASC 842 lease accounting fundamentals. This episode tackles the core distinctions between operating and finance leases, walks through initial right-of-use asset and liability measurements, and explains the subsequent accounting treatment for both lessees and lessors. You will discover exactly how these rules reshape corporate balance sheets, debt-to-equity ratios, and EBITDA across financial reporting frameworks. Finally, we highlight the most frequent Task-Based Simulation traps and disclosure rules tested on the exam so you can secure points without sitting at a desk.
    For financial analysts and candidates on the move, ASC 842 is one of the most critical accounting frameworks to master. By eliminating off-balance-sheet operating leases for lessees, the standard fundamentally altered how leverage, liquidity, and operational performance are assessed across global enterprises.
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    3 分
  • CFA Quant Core: TVM, DCF, and the Calculator Moves That Save 40 Seconds

    CFA Quant Core: TVM, DCF, and the Calculator Moves That Save 40 Seconds
    2026/09/13
    Time value of money is the engine under almost every Level I valuation question. Ordinary vs. due annuities and NPV vs. IRR ranking conflicts are where most candidates lose easy points. The difference is often four keystrokes on the BA II Plus or HP 12C.
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    6 分
  • FSA Core: Inventory Methods, LIFO Reserve, and Why COGS Is a Valuation Question in Disguise

    FSA Core: Inventory Methods, LIFO Reserve, and Why COGS Is a Valuation Question in Disguise
    2026/09/06
    This study guide examines the core mechanics of inventory cost flow assumptions, dissecting how FIFO, LIFO, and weighted average methods directly reshape reported earnings and asset bases. We break down the mechanics of the LIFO reserve, the operational hazards of LIFO liquidation, and the standard treatment of lower of cost or net realizable value write-downs. Finally, we map how these inventory accounting choices flow mechanically through profitability and liquidity ratios to prevent common financial statement analysis pitfalls.
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    8 分
  • CFA Level II FSA Core: Revenue Recognition, Earnings Quality, and IFRS vs. U.S. GAAP Traps

    CFA Level II FSA Core: Revenue Recognition, Earnings Quality, and IFRS vs. U.S. GAAP Traps
    2026/09/01
    Revenue recognition questions on the CFA Level II exam test more than memorization—they test whether you can identify when reported revenue faithfully reflects economic activity. This study guide reviews the five-step revenue model, bill-and-hold arrangements, channel stuffing, non-GAAP metrics, and the warning signs of weak earnings quality. It also explains which IFRS and U.S. GAAP differences can meaningfully affect financial ratios and which differences are unlikely to matter.
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    5 分