CFA Level-1

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Originally Posted by kabby1224

Thanks Sriram for your response to my earlier querry.

However I wanted to understand that can we go ahead and post more such syllabi related posts and querries or not? I am asking this as I do not see any other post regarding any such questions. If in case that is the case, kindly let me know.

Regards

Kabby

P.S: In case that is not the case, I do have a couple of queries that I would like to be addressed by forum members.

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Hey Kabby,

I think we should help each other in clearing technical doubts. Please feel free to post your queries. Either one of us or some senior members can answer the questions.

Hi guys
I have the 2011 Qbank for CFA level I.
It has summary, LOS, Definitions, Quizzes, Exams, all based on LOS and what you need to know. Very Helpful
Let me know if you would like to have a copy. Better than getting the books, because basically this is the books plus exams
My email is hassan.farran1@gmail.com

count me in

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Originally Posted by Nidhi Taleja

Hey Kabby,

I think we should help each other in clearing technical doubts. Please feel free to post your queries. Either one of us or some senior members can answer the questions.

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Thanks Nidhi.

The question that I am pondering upon is that in case of an Annual Maintainence Contract what kind of treatment would be advised. I think it should be realized as revenue as that will go with the prinicple of conservatism for recording accounting transactions, however considering the cash where the cash has changed hands at the starting itself, should it be given a treatment equivalent to that of a warranty as in an expense or liability.

Let us consider the case of a computer AMC provider in this case.

Thanks for your perspectives.

Regards
Kabby

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Originally Posted by kabby1224

Thanks Nidhi.

The question that I am pondering upon is that in case of an Annual Maintainence Contract what kind of treatment would be advised. I think it should be realized as revenue as that will go with the prinicple of conservatism for recording accounting transactions, however considering the cash where the cash has changed hands at the starting itself, should it be given a treatment equivalent to that of a warranty as in an expense or liability.

Let us consider the case of a computer AMC provider in this case.

Thanks for your perspectives.

Regards
Kabby

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Kabby,

This link seems useful:
http://www.investopedia.com/study-gu...#axzz1VBEB3ywO

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Originally Posted by kabby1224

Thanks Nidhi.

The question that I am pondering upon is that in case of an Annual Maintainence Contract what kind of treatment would be advised. I think it should be realized as revenue as that will go with the prinicple of conservatism for recording accounting transactions, however considering the cash where the cash has changed hands at the starting itself, should it be given a treatment equivalent to that of a warranty as in an expense or liability.

Let us consider the case of a computer AMC provider in this case.

Thanks for your perspectives.

Regards
Kabby

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In accrual accounting - matching revenues with expenses - was the cornerstone of accounting. Revenue can be recognized either if there is completion of the earnings process or assurance of payment.

We can use the following methods to recognize revenue for an AMC:

Sales Basis
Under the sales basis method, revenue is recognized at the time of sale (defined as the moment when the title of the goods or services is transferred to the buyer.) The sale can be for cash or credit (i.e., accounts receivable.) This means that revenue is not recognized even if cash is received before the transaction is complete.

In case of AMC, some initial services can be recognized using this method.


Percentage of Completion
You can take the AMC amount (minus any fees recognized upfront) and divide by the no. of months in the period.

Hiii...I am kiran tadhawala from Surat. my mail id is : Kirantadhawala@yahoo.com and kirantadhawala@gmail.com

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Originally Posted by elance

Hi guys I am aiming for cfa level 1 in December
i am planning to start my preparation from now itself
I am thinking of creating a group of people who are aiming for cfa level 1 in december so that we can discuss our queries together on regular basis

I have arranged all the study material and i have prepared my scheduled also
so if anybody who is interested in having a online group study for cfa level 1 in DEC ,please send me a message so that we can learn together

It is really going to help all of us as we will having many people to share the knowledge .

Any one who has completed this exam and willing to help us ,please message me .I'll really appreciate.

Thanks

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Hiii..... Can we directly talk thru Yahoo or Gtalk?? my id is kirantadhwala@yahoo.com and kirantadhawala@gmail.com

If anybody needs help with their December Level 1 exam, please reach out to me. I just cleared my Level 3 exam and awaiting the charter to be awarded.

Hello,

I am Ankit from MumbaiPlease add me to the study group u formed. I am also aapearing for CFA L1 Dec exam. I

Thanks