CFA In The Car

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11 Oct 2026 · 4 min

Type I vs. Type II Errors: The Mistake That Changes Everything

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Earlier episodes 9 most recent

1. 

   4 Oct 2026 · 3 min

   CFA Level I Ethics: The Code and Standards You Must Know

   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…

2. 

   27 Sep 2026 · 5 min

   ASC 740 on the CFA Exam: Temporary Differences, Deferred Taxes, and the Effective Rate Story

   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.

3. 

   23 Sep 2026 · 3 min

   Master the Road to ASC 842: Essential Lessee & Lessor Accounting for the Commute

   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…

4. 

   13 Sep 2026 · 6 min

   CFA Quant Core: TVM, DCF, and the Calculator Moves That Save 40 Seconds

   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.

5. 

   6 Sep 2026 · 8 min

   FSA Core: Inventory Methods, LIFO Reserve, and Why COGS Is a Valuation Question in Disguise

   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.

6. 

   1 Sep 2026 · 5 min

   CFA Level II FSA Core: Revenue Recognition, Earnings Quality, and IFRS vs. U.S. GAAP Traps

   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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