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Flashcard 1425665821964

Tags
#cfa-level-1 #economics #economics-in-a-global-context #los #reading-20-international-trade-and-capital-flows
Question
The price of a good or service in an economy that does not trade with other countries is called its [...]
Answer


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The price of a good or service in an economy that does not trade with other countries is called its autarkic price .

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2.1. Basic Terminology
e deficits with that country. Similarly, when a country has a trade deficit, it has to borrow from foreigners or sell some of its assets to foreigners. Section 4 on the balance of payments explains these relationships more fully. <span>Autarky is a state in which a country does not trade with other countries. This means that all goods and services are produced and consumed domestically. The price of a good or service in such an economy is called its autarkic price . An autarkic economy is also known as a closed economy because it does not trade with other countries. An open economy , in contrast, is an economy that trades with other countries. If there are no restrictions on trade, then members of an open economy can buy and sell goods and service







Flashcard 1441670499596

Tags
#cfa-level-1 #factors-that-determine-market-structures #microeconomics #reading-16-the-firm-and-market-structures #section-2-analysis-of-mkt-structures #study-session-4
Question
The degree to which one market structure can evolve into another and the difference between potential short-run outcomes and long-run equilibrium conditions depend on [...] and the possibility that firms fail to recoup their original costs or lose money for an extended period of time and are therefore forced to exit the market.
Answer
the strength of the barriers to entry


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The degree to which one market structure can evolve into another and the difference between potential short-run outcomes and long-run equilibrium conditions depend on the strength of the barriers to entry and the possibility that firms fail to recoup their original costs or lose money for an extended period of time and are therefore forced to exit the market. Barriers to entry can result

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2. ANALYSIS OF MARKET STRUCTURES
d monopoly is the local electrical power provider. In most cases, the monopoly power provider is allowed to earn a normal return on its investment and prices are set by the regulatory authority to allow that return. <span>2.2. Factors That Determine Market Structure Five factors determine market structure: The number and relative size of firms supplying the product; The degree of product differentiation; The power of the seller over pricing decisions; The relative strength of the barriers to market entry and exit; and The degree of non-price competition. The number and relative size of firms in a market influence market structure. If there are many firms, the degree of competition increases. With fewer firms supplying a good or service, consumers are limited in their market choices. One extreme case is the monopoly market structure, with only one firm supplying a unique good or service. Another extreme is perfect competition, with many firms supplying a similar product. Finally, an example of relative size is the automobile industry, in which a small number of large international producers (e.g., Ford and Toyota) are the leaders in the global market, and a number of small companies either have market power because they are niche players (e.g., Ferrari) or have little market power because of their narrow range of models or limited geographical presence (e.g., Škoda). In the case of monopolistic competition, there are many firms providing products to the market, as with perfect competition. However, one firm’s product is differentiated in some way that makes it appear better than similar products from other firms. If a firm is successful in differentiating its product, the differentiation will provide pricing leverage. The more dissimilar the product appears, the more the market will resemble the monopoly market structure. A firm can differentiate its product through aggressive advertising campaigns; frequent styling changes; the linking of its product with other, complementary products; or a host of other methods. When the market dictates the price based on aggregate supply and demand conditions, the individual firm has no control over pricing. The typical hog farmer in Nebraska and the milk producer in Bavaria are price takers . That is, they must accept whatever price the market dictates. This is the case under the market structure of perfect competition. In the case of monopolistic competition, the success of product differentiation determines the degree with which the firm can influence price. In the case of oligopoly, there are so few firms in the market that price control becomes possible. However, the small number of firms in an oligopoly market invites complex pricing strategies. Collusion, price leadership by dominant firms, and other pricing strategies can result. The degree to which one market structure can evolve into another and the difference between potential short-run outcomes and long-run equilibrium conditions depend on the strength of the barriers to entry and the possibility that firms fail to recoup their original costs or lose money for an extended period of time and are therefore forced to exit the market. Barriers to entry can result from very large capital investment requirements, as in the case of petroleum refining. Barriers may also result from patents, as in the case of some electronic products and drug formulas. Another entry consideration is the possibility of high exit costs. For example, plants that are specific to a special line of products, such as aluminum smelting plants, are non-redeployable, and exit costs would be high without a liquid market for the firm’s assets. High exit costs deter entry and are therefore also considered barriers to entry. In the case of farming, the barriers to entry are low. Production of corn, soybeans, wheat, tomatoes, and other produce is an easy process to replicate; therefore, those are highly competitive markets. Non-price competition dominates those market structures where product differentiation is critical. Therefore, monopolistic competition relies on competitive strategies that may not include pricing changes. An example of non-price competition is product differentiation through marketing. In other circumstances, non-price competition may occur because the few firms in the market feel dependent on each other. Each firm fears retaliatory price changes that would reduce total revenue for all of the firms in the market. Because oligopoly industries have so few firms, each firm feels dependent on the pricing strategies of the others. Therefore, non-price competition becomes a dominant strategy. Exhibit 1. Characteristics of Market Structure Market Structure Number of Sellers Degree of Product Differentiation Barriers to Entry Pricing Power of Firm Non-price Competition Perfect competition Many Homogeneous/ Standardized Very Low None None Monopolistic competition Many Differentiated Low Some Advertising and Product Differentiation Oligopoly Few Homogeneous/ Standardized High Some or Considerable Advertising and Product Differentiation Monopoly One Unique Product Very High Considerable Advertising From the perspective of the owners of the firm, the most desirable market structure is that with the most control over price, because this control can lead to large profits. Monopoly and oligopoly markets offer the greatest potential control over price; monopolistic competition offers less control. Firms operating under perfectly competitive market conditions have no control over price. From the consumers’ perspective, the most desirable market structure is that with the greatest degree of competition, because prices are generally lower. Thus, consumers would prefer as many goods and services as possible to be offered in competitive markets. As often happens in economics, there is a trade-off. While perfect competition gives the largest quantity of a good at the lowest price, other market forms may spur more innovation. Specifically, there may be high costs in researching a new product, and firms will incur such costs only if they expect to earn an attractive return on their research investment. This is the case often made for medical innovations, for example—the cost of clinical trials and experiments to create new medicines would bankrupt perfectly competitive firms but may be acceptable in an oligopoly market structure. Therefore, consumers can benefit from less-than-perfectly-competitive markets. PORTER’S FIVE FORCES AND MARKET STRUCTURE A financial analyst aiming to establish market conditions and consequent profitability of incumbent firms should start with the questions framed by Exhibit 1: How many sellers are there? Is the product differentiated? and so on. Moreover, in the case of monopolies and quasi monopolies, the analyst should evaluate the legislative and regulatory framework: Can the company set prices freely, or are there governmental controls? Finally, the analyst should consider the threat of competition from potential entrants. This analysis is often summarized by students of corporate strategy as “Porter’s five forces,” named after Harvard Business School professor Michael E. Porter. His book, Competitive Strategy, presented a systematic analysis of the practice of market strategy. Porter (2008) identified the five forces as: Threat of entry; Power of suppliers; Power of buyers (customers); Threat of substitutes; and Rivalry among existing competitors. It is easy to note the parallels between four of these five forces and the columns in Exhibit 1. The only “orphan” is the power of suppliers, which is not at the core of the theoretical economic analysis of competition, but which has substantial weight in the practical analysis of competition and profitability. Some stock analysts (e.g., Dorsey 2004) use the term “economic moat” to suggest that there are factors protecting the profitability of a firm that are similar to the moats (ditches full of water) that used to protect some medieval castles. A deep moat means that there is little or no threat of entry by invaders, i.e. competitors. It also means that customers are locked in because of high switching costs. <span><body><html>







Flashcard 1447259671820

Tags
#sister-miriam-joseph #trivium
Question
If language could not symbolize the [...], one could not designate particular persons, places, or times.
Answer
individual

Inconvenient as shit, son.


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If language could not symbolize the individual, one could not designate particular persons, places, or times. This would be extremely inconvenient.

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Flashcard 1456883502348

Tags
#48-laws-of-power #keys-to-power #law-1-never-outshine-the-master
Question
This Law involves [...] rules that you must realize.
Answer
two


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This Law involves two rules that you must realize.

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#ir #peds
Attention Deficit/Hyperactivity Disorder
Syllabus: Floet et al. Attention Deficit/Hyperactivity Disorder. Pediatrics in Review.
2010;31(2):56.
American Academy of Pediatrics. ADHD: Clinical Practice Guideline for the
Diagnosis, Evaluation and Treatment of Attention‐Deficit/Hyperactivty Disorder in
Children and Adolescents. Pediatrics. 2011;128(5):1007.
Introduction
• ADHD is a neurobehavioral disorder defined by symptoms of
inattention, hyperactivity, and impulsivity.
• There is a two‐ to three‐fold higher prevalence in boys than girls with
girls being more likely to be diagnosed with the inattentive‐type ADHD
• Can profoundly effect academic performance, social interactions and
well being
DSM5
Diagnostic Criteria for Attention Deficit/Hyperactivity Disorder
A. A persistent pattern of inattention and/or hyperactivity‐impulsivity
that interferes with functioning or development, as characterized by
(1) and/or (2):
1. Inattention: Six (or more) of the following symptoms have persisted
for at least 6 months to a degree that is inconsistent with
developmental level and that negatively impacts directly on social
and academic/occupational activities:
a. Often fails to give close attention to details or makes careless
mistakes in schoolwork, at work, or during other activities (e.g.,
overlooks or misses details, work is inaccurate).
b. Often has difficulty sustaining attention in tasks or play
activities (e.g., has difficulty remaining focused during lectures,
conversations, or lengthy reading).
c. Often does not seem to listen when spoken to directly (e.g., mind
seems elsewhere, even in the absence of any obvious
distraction).
d. Often does not follow through on instructions and fails to finish
schoolwork, chores, or duties in the workplace (e.g., starts tasks
but quickly loses focus and is easily sidetracked).
e. Often has difficulty organizing tasks and activities (e.g., difficulty
managing sequential tasks; difficulty keeping materials and
belongings in order; messy, disorganized work; has poor time
management; fails to meet deadlines).
f. Often avoids, dislikes, or is reluctant to engage in tasks that
require sustained mental effort (e.g., schoolwork or homework;
for older adolescents, preparing reports, completing forms,
reviewing lengthy papers).
g. Often loses things necessary for tasks or activities (e.g., school
materials, pencils, books, tools, wallets, keys, paperwork,
eyeglasses, mobile telephones).
h. Is often easily distracted by extraneous stimuli (for older
adolescents, may include unrelated thoughts).
i. Is often forgetful in daily activities (e.g., doing chores, running
errands; for older adolescents, returning calls, paying bills,
keeping appointments).
j. Hyperactivity and impulsivity: Six (or more) of the following
symptoms have persisted for at least 6 months to a degree that
is inconsistent with developmental level and that negatively
impacts directly on social and academic/occupational activities:
a. Often fidgets with or taps hands or feet or squirms in seat.
b. Often leaves seat in situations when remaining seated is
expected (e.g., leaves his or her place in the classroom, in the
office or other workplace, or in other situations that require
remaining in place).
c. Often runs about or climbs in situations where it is
inappropriate. (Note: In adolescents, may be limited to feeling
restless.)
d. Often unable to play or engage in leisure activities quietly.
e. Is often "on the go," acting as if "driven by a motor" (e.g., is
unable to be or uncomfortable being still for extended time, as
in restaurants, meetings; may be experienced by others as being
restless or difficult to keep up with).
f. Often talks excessively.
g. Often blurts out an answer before...

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Development
BMI o Psychosocial history and development o Nutrition o Education o Behaviour and family issues o Injury prevention and safety o Physical examination o Guidelines and resources (eg: vaccinations) <span>Attention Deficit/Hyperactivity Disorder Syllabus: Floet et al. Attention Deficit/Hyperactivity Disorder. Pediatrics in Review. 2010;31(2):56. American Academy of Pediatrics. ADHD: Clinical Practice Guideline for the Diagnosis, Evaluation and Treatment of Attention‐Deficit/Hyperactivty Disorder in Children and Adolescents. Pediatrics. 2011;128(5):1007. Introduction • ADHD is a neurobehavioral disorder defined by symptoms of inattention, hyperactivity, and impulsivity. • There is a two‐ to three‐fold higher prevalence in boys than girls with girls being more likely to be diagnosed with the inattentive‐type ADHD • Can profoundly effect academic performance, social interactions and well being DSM5 Diagnostic Criteria for Attention Deficit/Hyperactivity Disorder A. A persistent pattern of inattention and/or hyperactivity‐impulsivity that interferes with functioning or development, as characterized by (1) and/or (2): 1. Inattention: Six (or more) of the following symptoms have persisted for at least 6 months to a degree that is inconsistent with developmental level and that negatively impacts directly on social and academic/occupational activities: a. Often fails to give close attention to details or makes careless mistakes in schoolwork, at work, or during other activities (e.g., overlooks or misses details, work is inaccurate). b. Often has difficulty sustaining attention in tasks or play activities (e.g., has difficulty remaining focused during lectures, conversations, or lengthy reading). c. Often does not seem to listen when spoken to directly (e.g., mind seems elsewhere, even in the absence of any obvious distraction). d. Often does not follow through on instructions and fails to finish schoolwork, chores, or duties in the workplace (e.g., starts tasks but quickly loses focus and is easily sidetracked). e. Often has difficulty organizing tasks and activities (e.g., difficulty managing sequential tasks; difficulty keeping materials and belongings in order; messy, disorganized work; has poor time management; fails to meet deadlines). f. Often avoids, dislikes, or is reluctant to engage in tasks that require sustained mental effort (e.g., schoolwork or homework; for older adolescents, preparing reports, completing forms, reviewing lengthy papers). g. Often loses things necessary for tasks or activities (e.g., school materials, pencils, books, tools, wallets, keys, paperwork, eyeglasses, mobile telephones). h. Is often easily distracted by extraneous stimuli (for older adolescents, may include unrelated thoughts). i. Is often forgetful in daily activities (e.g., doing chores, running errands; for older adolescents, returning calls, paying bills, keeping appointments). j. Hyperactivity and impulsivity: Six (or more) of the following symptoms have persisted for at least 6 months to a degree that is inconsistent with developmental level and that negatively impacts directly on social and academic/occupational activities: a. Often fidgets with or taps hands or feet or squirms in seat. b. Often leaves seat in situations when remaining seated is expected (e.g., leaves his or her place in the classroom, in the office or other workplace, or in other situations that require remaining in place). c. Often runs about or climbs in situations where it is inappropriate. (Note: In adolescents, may be limited to feeling restless.) d. Often unable to play or engage in leisure activities quietly. e. Is often "on the go," acting as if "driven by a motor" (e.g., is unable to be or uncomfortable being still for extended time, as in restaurants, meetings; may be experienced by others as being restless or difficult to keep up with). f. Often talks excessively. g. Often blurts out an answer before a question has been completed (e.g., completes people's sentences; cannot wait for turn in conversation). h. Often has difficulty waiting his or her turn (e.g., while waiting in line). i. Often interrupts or intrudes on others (e.g., butts into conversations, games, or activities; may start using other people's things without asking or receiving permission; for adolescents, may intrude into or take over what others are doing). B. Several inattentive or hyperactive‐impulsive symptoms were present prior to age 12 years. C. Several inattentive or hyperactive‐impulsive symptoms are present in two or more settings (e.g., at home, school, or work; with friends or relatives; in other activities). D. There is clear evidence that the symptoms interfere with, or reduce the quality of, social, academic, or occupational functioning. E. The symptoms do not occur exclusively during the course of schizophrenia or another psychotic disorder and are not better explained by another mental disorder (e.g., mood disorder, anxiety disorder, dissociative disorder, personality disorder, substance intoxication or withdrawal). Types • Combined presentation: If both Criterion A1 (inattention) and Criterion A2 (hyperactivity‐impulsivity) are met for the past 6 months. • Predominantly inattentive presentation: If Criterion A1 (inattention) is met but Criterion A2 (hyperactivity‐impulsivity) is not met for the past 6 months. • Predominantly hyperactive/impulsive presentation: If Criterion A2 (hyperactivity‐impulsivity) is met and Criterion A1 (inattention) is not met for the past 6 months. Risk Factors • Genetic factors: heritability is approximately 75% • Nongenetic factors: perinatal stress and low birth weight, traumatic brain injury, maternal smoking during pregnancy, severe early deprivation Physical Exam A physical examination is important in ruling out underlying medical or developmental problems such as the following: • emotional or behavioral (eg. anxiety, depression, oppositional defiant and conduct disorders) • developmental (eg. learning and language disorders or other neurodevelopmental disorders) • physical conditions (eg. tics, sleep apnea) Examination should include observation of the child and the parent and their relationship. Investigations • Laboratory and imaging studies are not routinely recommended. However, consideration of hearing and vision tests, thyroid function studies, blood lead levels, genetic karyotyping and brain imaging studies if indicated by past medical history or physical examination • In most cases, laboratory investigations will not be necessary • Consider a psycho‐educational evaluation including both cognitive and academic testing to assess for learning problems Management Syllabus: Belanger et al. Cardiac risk assessment before the use of stimulant medications in children and youth. Paediatrics and Child Health. 2009;14(9):579. Feldman et al. Extended‐release medications for children and adolescents with attention‐deficit hyperactivity disorder. Paediatrics and Child Health. 2009;14(9):593. Bernard‐Bonnin A‐C et al. The use of alternative therapies in treating children with attention deficit hyperactivity disorder. Paediatrics and Child Health. 2002;7(10):710zXXZas Paediatrics and Child Health. 2009;14(9):593.F. • Approach to treatment is multidisciplinary • Psychoeducation and support for patient and family • In cases of ADHD without co‐morbidity, behavioural therapies have not been shown to be helpful for the core symptoms of ADHD • School aged children (6‐18 yrs): o First line is stimulant medication(s) o Second line is non‐stimulant medications o Third line is behavior management: positive reinforcement, time out, response cost, token economy • Pre‐school aged children (4‐5 yrs): o First line is behavior management: positive reinforcement, time out, response cost, and token economy o Second line is stimulant medication(s) • Dietary interventions such as the elimination of sugar have NOT proven to have an observable effect. Other dietary interventions (i.e., elimination of food additives or addition of dietary supplements) require evidence‐based research • Follow‐up and long‐term management are required as ADHD does not resolve with age Medications • Stimulants (methylphenidate, dextroamphetamine) are considered first line because they are highly efficacious in reducing symptoms • Extended release stimulant medications are associated with decreased use of street drugs among adolescents with ADHD, decrease in rate of injuries, STI’s and unwanted pregnancies • Immediate‐release medications such as Ritalin should be avoided as they are much easier to divert, crushed Ritalin may be snorted or made into an injectible form, mixed with narcotics and taken as a ‘speed‐ball’ • Medications should be used 365 days per year in adolescents • Careful titration of medication to optimize effects, minimize side effects and enhance compliance is essential. Autism Spectrum Disorder Syllabus: Johnson C et al. Identification and Evaluation of Chidlren with Autism Spectrum Disorders. Pediatrics. 2007;120(5):1183. Har




#ir #peds
Autism Spectrum Disorder
Syllabus: Johnson C et al. Identification and Evaluation of Chidlren with Autism
Spectrum Disorders. Pediatrics. 2007;120(5):1183.
Harrington et al. The Clinician’s Guide to Autism. Pediatrics in Review.
2014;35(2):62.
Simms et al. Autism, Language Disorder, and Social (Pragmatic) Communication
Disorder: DSM‐V and Diferential Diagnosis. Pediatrics in Review. 2015;36(8):355.
Introduction
• The essential features of autism spectrum disorder are persistent
impairment in reciprocal social communication and social interaction,
and restricted, repetitive patterns of behavior, interests, or activities.
• These symptoms are present from early childhood and limit or impair
everyday functioning
• Social skills deficits can be noticed in infancy with aversion to cuddling
and lack of acknowledgement of the caregiver
• Also can involve language delays/deficits, motor signs (e.g.,
stereotypies, toe walking), sensory deficits (e.g., intolerance to sound)
• Cognitive abilities vary; typically difficulties with reasoning/planning,
greater abilities in rote memory
DSM5
Criteria for Autism Spectrum Disorder
A. Persistent deficits in social communication and social interaction
across multiple contexts, as manifested by the following, currently or
by history (examples are illustrative, not exhaustive; see text):
1. Deficits in social‐emotional reciprocity, ranging, for example, from
abnormal social approach and failure of normal back‐and‐forth
conversation; to reduced sharing of interests, emotions, or affect; to
failure to initiate or respond to social interactions.
2. Deficits in nonverbal communicative behaviors used for social
interaction, ranging, for example, from poorly integrated verbal and
nonverbal communication; to abnormalities in eye contact and
body language or deficits in understanding and use of gestures; to a
total lack of facial expressions and nonverbal communication.
3. Deficits in developing, maintaining, and understanding
relationships, ranging, for example, from difficulties adjusting
behavior to suit various social contexts; to difficulties in sharing
imaginative play or in making friends; to absence of interest in
peers.
B. Restricted, repetitive patterns of behavior, interests, or activities, as
manifested by at least two of the following, currently or by history
(examples are illustrative, not exhaustive; see text):
1. Stereotyped or repetitive motor movements, use of objects, or
speech (e.g., simple motor stereotypies, lining up toys or flipping
objects, echolalia, idiosyncratic phrases).
2. Insistence on sameness, inflexible adherence to routines, or
ritualized patterns of verbal or nonverbal behavior (e.g., extreme
distress at small changes, difficulties with transitions, rigid thinking
patterns, greeting rituals, need to take same route or eat same food
every day).
3. Highly restricted, fixated interests that are abnormal in intensity or
focus (e.g., strong attachment to or preoccupation with unusual
objects, excessively circumscribed or perseverative interests).
4. Hyper‐ or hyporeactivity to sensory input or unusual interest in
sensory aspects of the environment (e.g., apparent indifference to
pain/temperature, adverse response to specific sounds or textures,
excessive smelling or touching of objects, visual fascination with
lights or movement).
C. Symptoms must be present in the early developmental period (but may
not become fully manifest until social demands exceed limited
capacities, or may be masked by learned strategies in later life).
D. Symptoms cause clinically significant impairment in social,
occupational, or other important areas of current functioning.
E. These disturbances are not better explained by intellectual disability
(intellectual developmental disorder) o...

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Development
th narcotics and taken as a ‘speed‐ball’ • Medications should be used 365 days per year in adolescents • Careful titration of medication to optimize effects, minimize side effects and enhance compliance is essential. <span>Autism Spectrum Disorder Syllabus: Johnson C et al. Identification and Evaluation of Chidlren with Autism Spectrum Disorders. Pediatrics. 2007;120(5):1183. Harrington et al. The Clinician’s Guide to Autism. Pediatrics in Review. 2014;35(2):62. Simms et al. Autism, Language Disorder, and Social (Pragmatic) Communication Disorder: DSM‐V and Diferential Diagnosis. Pediatrics in Review. 2015;36(8):355. Introduction • The essential features of autism spectrum disorder are persistent impairment in reciprocal social communication and social interaction, and restricted, repetitive patterns of behavior, interests, or activities. • These symptoms are present from early childhood and limit or impair everyday functioning • Social skills deficits can be noticed in infancy with aversion to cuddling and lack of acknowledgement of the caregiver • Also can involve language delays/deficits, motor signs (e.g., stereotypies, toe walking), sensory deficits (e.g., intolerance to sound) • Cognitive abilities vary; typically difficulties with reasoning/planning, greater abilities in rote memory DSM5 Criteria for Autism Spectrum Disorder A. Persistent deficits in social communication and social interaction across multiple contexts, as manifested by the following, currently or by history (examples are illustrative, not exhaustive; see text): 1. Deficits in social‐emotional reciprocity, ranging, for example, from abnormal social approach and failure of normal back‐and‐forth conversation; to reduced sharing of interests, emotions, or affect; to failure to initiate or respond to social interactions. 2. Deficits in nonverbal communicative behaviors used for social interaction, ranging, for example, from poorly integrated verbal and nonverbal communication; to abnormalities in eye contact and body language or deficits in understanding and use of gestures; to a total lack of facial expressions and nonverbal communication. 3. Deficits in developing, maintaining, and understanding relationships, ranging, for example, from difficulties adjusting behavior to suit various social contexts; to difficulties in sharing imaginative play or in making friends; to absence of interest in peers. B. Restricted, repetitive patterns of behavior, interests, or activities, as manifested by at least two of the following, currently or by history (examples are illustrative, not exhaustive; see text): 1. Stereotyped or repetitive motor movements, use of objects, or speech (e.g., simple motor stereotypies, lining up toys or flipping objects, echolalia, idiosyncratic phrases). 2. Insistence on sameness, inflexible adherence to routines, or ritualized patterns of verbal or nonverbal behavior (e.g., extreme distress at small changes, difficulties with transitions, rigid thinking patterns, greeting rituals, need to take same route or eat same food every day). 3. Highly restricted, fixated interests that are abnormal in intensity or focus (e.g., strong attachment to or preoccupation with unusual objects, excessively circumscribed or perseverative interests). 4. Hyper‐ or hyporeactivity to sensory input or unusual interest in sensory aspects of the environment (e.g., apparent indifference to pain/temperature, adverse response to specific sounds or textures, excessive smelling or touching of objects, visual fascination with lights or movement). C. Symptoms must be present in the early developmental period (but may not become fully manifest until social demands exceed limited capacities, or may be masked by learned strategies in later life). D. Symptoms cause clinically significant impairment in social, occupational, or other important areas of current functioning. E. These disturbances are not better explained by intellectual disability (intellectual developmental disorder) or global developmental delay. Intellectual disability and autism spectrum disorder frequently cooccur; to make comorbid diagnoses of autism spectrum disorder and intellectual disability, social communication should be below that expected for general developmental level. Risk Factors • Male (4x risk) • Having another child with autism • Advanced parental age • Genetic/cytogenetic/syndromic conditions o Down Syndrome, Tuberous sclerosis, untreated PKU, Fragile X, Angelman, Cornelia de Lange syndrome • Early bilateral mesial temporal lobe lesions due to herpes simplex or anoxic/ischemic damage • Very low birth weight, especially with retinopathy of prematurity • No association between MMR vaccination and autism o Studies that showed causation were fraudulent Screening • Developmental surveillance is encouraged at all well baby/child visits • Developmental screening at 18 month visit • Targeted (secondary) screening is recommended in high risk children (risk factors, parental concerns, teacher observations, missed milestones etc) and requires use of specific screening tools (e.g. CHAT) • Determination that a child is at high risk of ASD should result in immediate referral to an experienced diagnostician or an interdisciplinary assessment team INADEQUATE LANGUAGE FEATURES SUGGESTING AUTISM At any age • Regression of language or communicative gestures • Lack of reliable orienting to speech, turning to name • Concern about language comprehension • Persistent mutism unpredictably interrupted by rare isolated clear words or sentences In toddlers • No pointing by 1 year; dragging by the hand • No words by 12‐14 months • Less than a dozen words by 18 months • No 2‐word phrases by 2 years or sentences by 3 years • Very delayed or absent head shaking or nodding to signify no/yes In preschoolers and older children • Failure to answer questions or responding beside the point • Inability to use language conversationally, “talking to talk” rather than to communicate (request, show, etc) • Frequent, persistent verbatim repetition (echolalia) • Persistent pronoun inversion (you/me confusion), referring to self by name • Verbatim repetition of overlearned expressions (delayed echolalia, formulaic speech) rather than self‐generated expressions • Inability to recount an event or tell a coherent story • Perseveration on a favorite topic • Overuse of pedantic words or expressions • High‐pitched, sing‐song, or uninflected robotic speech Investigations • Formal audiological assessment o Consider blood tests: genetic (karyotype, Fragile X, 22q deletion, microarray), metabolic, lead levels and neurologic tests: MRI, EEG Diagnosis • In accordance with DSM‐V Criteria • Interdisciplinary approach is ideal • Assessment of cognitive and developmental levels is required • Can be diagnosed as early as 18 months by experienced professionals • Should be made on the basis of a thorough developmental history and structured behavioural observation and clinical judgment. • The use of at least one standardized, norm‐referenced parent report measure and at least one standardized, norm‐referenced behavioral observation measure is recommended. Management • Early, multi‐disciplinary intervention is beneficial • Structured learning • Speech and language assessment and therapy • Occupational therapy ‐ sensory integration • Behaviour management support • Medications for self‐injurious and aggressive behaviours o SSRIs, psychotropic drugs (e.g., Risperidone), anticonvulsants • Social skills training • Vocational counseling Note: Elimination diets and vitamins have no proven efficacy Learning Disorders Syllabus: Rimrodt et al. Learning Disabilities and School Failure. Pediatrics in Review. 2011;32(8):315. Byrd R. School Failure: Assessment,




#ir #peds
Learning Disorders
Syllabus: Rimrodt et al. Learning Disabilities and School Failure. Pediatrics in
Review. 2011;32(8):315.
Byrd R. School Failure: Assessment, Intervention, and Prevention in Primary Care
Pediatrics. Pediatrics in Review. 2005;26(7):233.
• Represent a disability based on a descrepency between a person’s
intellectual ability and actual academic performance
• Further specificed into the particular area of academic function
affected:
o Mathematics disorder
o Reading disorder
o Disorder of reading expression
• Any child who has school problems and is suspected of having a
learning disability should be referred for a comprehensive
psychoeducational evaluation
• Accomodations can be made at school through the Identification,
Placement, and Review Committee (IPRC). The IPRC will:
o decide whether or not a student should be identified as exceptional
o identify the areas of a student’s exceptionality
o decide an appropriate placement for a student
o review identification and placement at least once per school year
• An IEP (Individual Education Plan) is developed (in consultation with
parents and the student) for each student who has been identified as
exceptional by the IPRC process. An IEP is a written plan that describes
the strengths and needs of the student, services established to meet
that student’s needs, and how these should be delivered

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Development
‐injurious and aggressive behaviours o SSRIs, psychotropic drugs (e.g., Risperidone), anticonvulsants • Social skills training • Vocational counseling Note: Elimination diets and vitamins have no proven efficacy <span>Learning Disorders Syllabus: Rimrodt et al. Learning Disabilities and School Failure. Pediatrics in Review. 2011;32(8):315. Byrd R. School Failure: Assessment, Intervention, and Prevention in Primary Care Pediatrics. Pediatrics in Review. 2005;26(7):233. • Represent a disability based on a descrepency between a person’s intellectual ability and actual academic performance • Further specificed into the particular area of academic function affected: o Mathematics disorder o Reading disorder o Disorder of reading expression • Any child who has school problems and is suspected of having a learning disability should be referred for a comprehensive psychoeducational evaluation • Accomodations can be made at school through the Identification, Placement, and Review Committee (IPRC). The IPRC will: o decide whether or not a student should be identified as exceptional o identify the areas of a student’s exceptionality o decide an appropriate placement for a student o review identification and placement at least once per school year • An IEP (Individual Education Plan) is developed (in consultation with parents and the student) for each student who has been identified as exceptional by the IPRC process. An IEP is a written plan that describes the strengths and needs of the student, services established to meet that student’s needs, and how these should be delivered Bullying Syllabus: Lamb et al. Approach to Bullying and Victimization. Canadian Family Physician. 2009;55(4):356. Introduction • Defined as the use of pow




#has-images #ir #peds
Bullying
Syllabus: Lamb et al. Approach to Bullying and Victimization. Canadian Family
Physician. 2009;55(4):356.
Introduction
• Defined as the use of power or aggression to cause distress or control
of another
• Can be direct (face‐to‐face) or indirect (gossip, exclusion)
• Negative actions can include:
o Physical actions (punching, kicking, biting)
o Verbal actions (threats, name calling, insults)
o Social exclusion (spreading rumours, gossiping, excluding)
• Actions are repeated and the intensity or duration establishes
dominance

History
• When a physician identifies a possible bullying situation, the following
questions can help determine what type of help may be appropriate
o Who do you bully/who bullys you?
o What do you do to others/what do others do to you? (e.g. gossiping,
insults, hitting, etc.)
o When and how often do you bully/are you bullied?
o Where do you bully/where are you bullied?
o Why do you bully others/why do you think you are bullied?
o How do you think the kids feel when you bully them or how do you
feel when you are bullied?
Management
• Comprehensive strategies that encompass the school, family and
community are most likely to be effective
o establish a social school environment that promotes safety
o provide access to health and mental health services
o integrate school, family and community prevention efforts
o provide training to enable school staff to promote safety and
prevent violence effectively

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Development
been identified as exceptional by the IPRC process. An IEP is a written plan that describes the strengths and needs of the student, services established to meet that student’s needs, and how these should be delivered <span>Bullying Syllabus: Lamb et al. Approach to Bullying and Victimization. Canadian Family Physician. 2009;55(4):356. Introduction • Defined as the use of power or aggression to cause distress or control of another • Can be direct (face‐to‐face) or indirect (gossip, exclusion) • Negative actions can include: o Physical actions (punching, kicking, biting) o Verbal actions (threats, name calling, insults) o Social exclusion (spreading rumours, gossiping, excluding) • Actions are repeated and the intensity or duration establishes dominance History • When a physician identifies a possible bullying situation, the following questions can help determine what type of help may be appropriate o Who do you bully/who bullys you? o What do you do to others/what do others do to you? (e.g. gossiping, insults, hitting, etc.) o When and how often do you bully/are you bullied? o Where do you bully/where are you bullied? o Why do you bully others/why do you think you are bullied? o How do you think the kids feel when you bully them or how do you feel when you are bullied? Management • Comprehensive strategies that encompass the school, family and community are most likely to be effective o establish a social school environment that promotes safety o provide access to health and mental health services o integrate school, family and community prevention efforts o provide training to enable school staff to promote safety and prevent violence effectively Toilet Training Syllabus: Clifford et al. Toilet Learning: Anticipatory Guidance with a child‐oriented approach. Paediatrics and Child Health. 2000;5(6):333. F




#ir #peds
Toilet Training
Syllabus: Clifford et al. Toilet Learning: Anticipatory Guidance with a child‐oriented
approach. Paediatrics and Child Health. 2000;5(6):333.
Feldman. Managing primary nocturnal enuresis. Paediatr Child Health. 2005;
10(10):611.
Bayne et al. Nocturnal enuresis: An approach to assessment and treatment. Peditrics
in review. Pediatrics in Review. 2014; 35(8):327.
Austin et al. Dysfunctional Voiding. Pediatrics in Review. 2000;21(10):336.
Har et al. Encoperesis. Pediatrics in Review. 2010;31(9):368.
Signs of a child’s toilet learning readiness
• Can understand and follow simple instruction
• Diaper is consistently dry for 2 to 3 hours at a time or after naps
• Bowel movements are somewhat regular and predictable
• Seems uncomfortable with soiled diapers and wants to be changed
• Recognizes and tells or shows need to urinate or stool
• Can walk to bathroom and pull pants up and down
• Is stable on potty (good trunk support)
• Interested and motivated to learn how to use the potty
• Shows interest in 'big kid' underwear
- Child does not need to show all of the signs, but at least a few should be
present to indicate the child is ready for toilet training
- Average age for a child to be toilet trained is between 2 to 3 years old
- Advise parents to expect accidents during initial training

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Development
fety o provide access to health and mental health services o integrate school, family and community prevention efforts o provide training to enable school staff to promote safety and prevent violence effectively <span>Toilet Training Syllabus: Clifford et al. Toilet Learning: Anticipatory Guidance with a child‐oriented approach. Paediatrics and Child Health. 2000;5(6):333. Feldman. Managing primary nocturnal enuresis. Paediatr Child Health. 2005; 10(10):611. Bayne et al. Nocturnal enuresis: An approach to assessment and treatment. Peditrics in review. Pediatrics in Review. 2014; 35(8):327. Austin et al. Dysfunctional Voiding. Pediatrics in Review. 2000;21(10):336. Har et al. Encoperesis. Pediatrics in Review. 2010;31(9):368. Signs of a child’s toilet learning readiness • Can understand and follow simple instruction • Diaper is consistently dry for 2 to 3 hours at a time or after naps • Bowel movements are somewhat regular and predictable • Seems uncomfortable with soiled diapers and wants to be changed • Recognizes and tells or shows need to urinate or stool • Can walk to bathroom and pull pants up and down • Is stable on potty (good trunk support) • Interested and motivated to learn how to use the potty • Shows interest in 'big kid' underwear - Child does not need to show all of the signs, but at least a few should be present to indicate the child is ready for toilet training - Average age for a child to be toilet trained is between 2 to 3 years old - Advise parents to expect accidents during initial training Sleep Requirements Newborns • Should sleep on back in crib with flat surface, no pillows or soft items • In parents’ room for first 6 months Older b




#has-images #ir #peds
Sleep Requirements

Newborns
• Should sleep on back in crib with flat surface, no pillows or soft items
• In parents’ room for first 6 months
Older babies
• Maintain regular daytime and bedtime schedule
• Start consistent bedtime routine
• Avoid putting baby to bed with a bottle

Sleep Problems
Night terrors
• Parasomnia that occurs in first third of night
• High to extreme autonomic agitation
• High arousal threshold, agitated if awakened
• No daytime sleepiness or recall of event
Nightmares
• Occur in last third of night during REM sleep
• Mild to high autonomic arousal/agitation
• Low arousal threshold, agitated after event
• Can have daytime sleepiness and frequent, vivid recall of event
• Very common
BEARS Screening Tool for Pediatric Sleep Disorders

Sleep associations
• Infant or toddler child has learned to fall asleep only under certain
conditions or has specific sleep associations that require parental
intervention, such as being rocked or fed, which are usually readily
available at bedtime
• During the night, when the infant or toddler awakens, they are not able
to get back to sleep ("self‐soothe") unless those same conditions are
available
90
o The infant then "signals" the caregiver by crying or coming into the
parents' bedroom if the child is no longer in a crib until the
necessary associations are provided
o Ferber method advocates that at bedtime child is put in bed while
they are drowsy, but still awake, to help them learn how to fall
asleep on their own (self‐soothe)

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Development
least a few should be present to indicate the child is ready for toilet training - Average age for a child to be toilet trained is between 2 to 3 years old - Advise parents to expect accidents during initial training <span>Sleep Requirements Newborns • Should sleep on back in crib with flat surface, no pillows or soft items • In parents’ room for first 6 months Older babies • Maintain regular daytime and bedtime schedule • Start consistent bedtime routine • Avoid putting baby to bed with a bottle Sleep Problems Night terrors • Parasomnia that occurs in first third of night • High to extreme autonomic agitation • High arousal threshold, agitated if awakened • No daytime sleepiness or recall of event Nightmares • Occur in last third of night during REM sleep • Mild to high autonomic arousal/agitation • Low arousal threshold, agitated after event • Can have daytime sleepiness and frequent, vivid recall of event • Very common BEARS Screening Tool for Pediatric Sleep Disorders Sleep associations • Infant or toddler child has learned to fall asleep only under certain conditions or has specific sleep associations that require parental intervention, such as being rocked or fed, which are usually readily available at bedtime • During the night, when the infant or toddler awakens, they are not able to get back to sleep ("self‐soothe") unless those same conditions are available 90 o The infant then "signals" the caregiver by crying or coming into the parents' bedroom if the child is no longer in a crib until the necessary associations are provided o Ferber method advocates that at bedtime child is put in bed while they are drowsy, but still awake, to help them learn how to fall asleep on their own (self‐soothe) Colic Syllabus: Cohen et al. Colic. Pediatrics in Review. 2012;33(7):332. • Infantile colic is defined as o paroxysms of irritability, fussiness or crying that




#ir #peds
Colic
Syllabus: Cohen et al. Colic. Pediatrics in Review. 2012;33(7):332.
• Infantile colic is defined as
o paroxysms of irritability, fussiness or crying that start and stop
without obvious cause;
o episodes lasting 3 h or more per day and occurring at least three
days per week for at least three weeks; and
o no failure to thrive
• Peaks at 6 weeks of age and typically ends by 3‐4 months
• Crying is most frequent in the late afternoon or evening
• Holding or rocking and offering a pacifier might help
• There is no evidence that medicines really help with colic
• There is no or insufficient evidence to support dietary changes
including probiotics, lactose free diet, soy formulas
• If there is a concern about cow’s milk protein allergy, a time limited
(two week) trial of hypoallergenic formula or elimination of cow’s milk
from the maternal diet can be undertaken

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Development
ntil the necessary associations are provided o Ferber method advocates that at bedtime child is put in bed while they are drowsy, but still awake, to help them learn how to fall asleep on their own (self‐soothe) <span>Colic Syllabus: Cohen et al. Colic. Pediatrics in Review. 2012;33(7):332. • Infantile colic is defined as o paroxysms of irritability, fussiness or crying that start and stop without obvious cause; o episodes lasting 3 h or more per day and occurring at least three days per week for at least three weeks; and o no failure to thrive • Peaks at 6 weeks of age and typically ends by 3‐4 months • Crying is most frequent in the late afternoon or evening • Holding or rocking and offering a pacifier might help • There is no evidence that medicines really help with colic • There is no or insufficient evidence to support dietary changes including probiotics, lactose free diet, soy formulas • If there is a concern about cow’s milk protein allergy, a time limited (two week) trial of hypoallergenic formula or elimination of cow’s milk from the maternal diet can be undertaken Gotta Find Strong Coffee Soon •Gross Motor •Fine Motor •Speech/ Language •Cognitive •Social Emotional, Behaviour •(Adaptive Skills) A




#ir #peds
Children get many different kinds of rashes-many, though not all, related to infections. Below are
descriptions and photos of rashes associated with fever.
Erythema
infectiosum
Also called fifth disease, this is caused by parvovirus B19.
There is frequently an associated low-grade fever (37.8-38.3 degrees C, or
100-101 degrees F), with a rash appearing seven to ten days later.
The characteristic rash starts as facial erythema-the "slapped cheek"
appearance. This can spread to the trunk and have an erythematous macular
appearance. Central clearing of the rash appears, giving a lacy appearance.
The rash often lasts longest on the extremities, where it has a lacy, reticular
appearance.
People with fifth disease can also develop pain and swelling in their joints
(polyarthropathy syndrome).
Individuals with underlying immune deficiencies who are exposed to this virus
are at risk for developing aplastic anemia.

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CLIPP 11 - Kawasaki
presents as a vesicular rash on the hands and feet and with ulcers in the mouth. Usually seen in late summer and early fall. While the fever associated with enteroviruses may be high, it usually lasts only a few days. <span>Erythema infectiosum Also called fifth disease, this is caused by parvovirus B19. There is frequently an associated low-grade fever (37.8-38.3 degrees C, or 100-101 degrees F), with a rash appearing seven to ten days later. The characteristic rash starts as facial erythema-the "slapped cheek" appearance. This can spread to the trunk and have an erythematous macular appearance. Central clearing of the rash appears, giving a lacy appearance. The rash often lasts longest on the extremities, where it has a lacy, reticular appearance. People with fifth disease can also develop pain and swelling in their joints (polyarthropathy syndrome). Individuals with underlying immune deficiencies who are exposed to this virus are at risk for developing aplastic anemia. Measles After a prodrome of fever (over 38.3 C, or 101 F), cough, coryza, and conjunctivitis, this maculopapular rash starts on the neck, behind the ears, and along




#ir #peds
Children get many different kinds of rashes-many, though not all, related to infections. Below are
descriptions and photos of rashes associated with fever.
Measles
After a prodrome of fever (over 38.3 C, or 101 F), cough, coryza, and
conjunctivitis, this maculopapular rash starts on the neck, behind the ears, and
along the hairline.
The rash spreads downward, reaching the feet in two or three days.
The initial rash appears on the buccal mucosa as red lesions with bluish white
spots in the center (known as Koplik spots). These have frequently
disappeared by the time the patient presents to medical attention.
Immunization is very effective in preventing this infection.

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CLIPP 11 - Kawasaki
le with fifth disease can also develop pain and swelling in their joints (polyarthropathy syndrome). Individuals with underlying immune deficiencies who are exposed to this virus are at risk for developing aplastic anemia. <span>Measles After a prodrome of fever (over 38.3 C, or 101 F), cough, coryza, and conjunctivitis, this maculopapular rash starts on the neck, behind the ears, and along the hairline. The rash spreads downward, reaching the feet in two or three days. The initial rash appears on the buccal mucosa as red lesions with bluish white spots in the center (known as Koplik spots). These have frequently disappeared by the time the patient presents to medical attention. Immunization is very effective in preventing this infection. All photos in this case showing disease manifestations are courtesy of Gary Williams, MD, and the University of Wisconsin teaching file. Hyperlink "hands "




#ir #peds
Children get many different kinds of rashes-many, though not all, related to infections. Below are
descriptions and photos of rashes associated with fever.
Meningococcemia
Caused by the bacteria Neisseria meningitidis, onset is abrupt and
accompanied by fever, chills, malaise, and prostration.
The initial rash may be urticarial, maculopapular, or petechial (marked
by small, purplish, hemorrhagic spots).
In fulminant cases, it can become purpuric, marked by large
hemorrhages into the skin.
Immunization is effective in preventing this infection.

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CLIPP 11 - Kawasaki
erial is not included in this Summary, please open Case to review. Hyperlink " Measles " This Multimedia material is not included in this Summary, please open Case to review. Rashes Associated with Fever (Part 2) <span>Meningococcemia Caused by the bacteria Neisseria meningitidis, onset is abrupt and accompanied by fever, chills, malaise, and prostration. The initial rash may be urticarial, maculopapular, or petechial (marked by small, purplish, hemorrhagic spots). In fulminant cases, it can become purpuric, marked by large hemorrhages into the skin. Immunization is effective in preventing this infection. Roseola This macular or maculopapular rash, also called exanthem subitum, starts on the trunk and spreads to the arms and neck. There is usually less involvement of




#ir #peds
Children get many different kinds of rashes-many, though not all, related to infections. Below are
descriptions and photos of rashes associated with fever.
Roseola
This macular or maculopapular rash, also called exanthem subitum,
starts on the trunk and spreads to the arms and neck.
There is usually less involvement of the face and legs.
The rash is preceded by three or four days of high fevers, which end
as the rash appears.
Usually seen in children less than two years old.

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CLIPP 11 - Kawasaki
aculopapular, or petechial (marked by small, purplish, hemorrhagic spots). In fulminant cases, it can become purpuric, marked by large hemorrhages into the skin. Immunization is effective in preventing this infection. <span>Roseola This macular or maculopapular rash, also called exanthem subitum, starts on the trunk and spreads to the arms and neck. There is usually less involvement of the face and legs. The rash is preceded by three or four days of high fevers, which end as the rash appears. Usually seen in children less than two years old. 3/15 Scarlet fever This rash, caused by infection with group A Streptococcus, consists of very fine papules, often described as feeling like sandpaper. It is er




#ir #peds
Children get many different kinds of rashes-many, though not all, related to infections. Below are
descriptions and photos of rashes associated with fever.
Scarlet fever
This rash, caused by infection with group A Streptococcus, consists of
very fine papules, often described as feeling like sandpaper.
It is erythematous, but blanches.
The rash starts in the groin, axillae, and neck, but rapidly spreads.
The fever can be high, and the disease is usually self-limited, lasting
less than 10 days.
It is important to treat with antibiotics to prevent non-suppurative
complications of strep, including rheumatic fever.

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CLIPP 11 - Kawasaki
s and neck. There is usually less involvement of the face and legs. The rash is preceded by three or four days of high fevers, which end as the rash appears. Usually seen in children less than two years old. 3/15 <span>Scarlet fever This rash, caused by infection with group A Streptococcus, consists of very fine papules, often described as feeling like sandpaper. It is erythematous, but blanches. The rash starts in the groin, axillae, and neck, but rapidly spreads. The fever can be high, and the disease is usually self-limited, lasting less than 10 days. It is important to treat with antibiotics to prevent non-suppurative complications of strep, including rheumatic fever. Varicella The rash, also known as chicken pox, starts on the trunk and spreads to the extremities and head. Each lesion progresses from an erythematous macule to pap




#ir #peds
Children get many different kinds of rashes-many, though not all, related to infections. Below are
descriptions and photos of rashes associated with fever.
Varicella
The rash, also known as chicken pox, starts on the trunk and spreads
to the extremities and head.
Each lesion progresses from an erythematous macule to papule
to vesicle to pustule, and then crusts over.
Lesions at various stages of development are seen in the same area of
the body.
There is usually a mild fever.
The disease is self-limited, lasting about a week.
Immunization is effective in preventing this infection.

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CLIPP 11 - Kawasaki
reads. The fever can be high, and the disease is usually self-limited, lasting less than 10 days. It is important to treat with antibiotics to prevent non-suppurative complications of strep, including rheumatic fever. <span>Varicella The rash, also known as chicken pox, starts on the trunk and spreads to the extremities and head. Each lesion progresses from an erythematous macule to papule to vesicle to pustule, and then crusts over. Lesions at various stages of development are seen in the same area of the body. There is usually a mild fever. The disease is self-limited, lasting about a week. Immunization is effective in preventing this infection. Hyperlink " Meningococcemia " This Multimedia material is not included in this Summary, please open Case to review. Hyperlink " Roseola " This Mu




Flashcard 1473443663116

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#python #sicp
Question
How should float values be treated? Are they real numbers?
Answer
float values should be treated as approximations to real values.


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xactly, without any approximation or limits on their size. On the other hand, float objects can represent a wide range of fractional numbers, but not all numbers can be represented exactly, and there are minimum and maximum values. Therefore, <span>float values should be treated as approximations to real values.<span><body><html>

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2.1 Introduction
ming languages: a "floating point" representation. While the details of how numbers are represented is not a topic for this text, some high-level differences between int and float objects are important to know. In particular, <span>int objects represent integers exactly, without any approximation or limits on their size. On the other hand, float objects can represent a wide range of fractional numbers, but not all numbers can be represented exactly, and there are minimum and maximum values. Therefore, float values should be treated as approximations to real values. These approximations have only a finite amount of precision. Combining float values can lead to approximation errors; both of the following expressions would evaluate to 7 if not fo







Flashcard 1473446022412

Tags
#python #sicp
Question
What is the underlying idea of data abstraction?
Answer
the underlying idea of data abstraction is to identify a basic set of operations in terms of which all manipulations of values of some kind will be expressed, and then to use only those operations in manipulating the data.


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In general, the underlying idea of data abstraction is to identify a basic set of operations in terms of which all manipulations of values of some kind will be expressed, and then to use only those operations in manipulating the data. By restricting the use of operations in this way, it is much easier to change the representation of abstract data without changing the behavior of a program.

Original toplevel document

2.2 Data Abstraction
efore continuing with more examples of compound data and data abstraction, let us consider some of the issues raised by the rational number example. We defined operations in terms of a constructor rational and selectors numer and denom . <span>In general, the underlying idea of data abstraction is to identify a basic set of operations in terms of which all manipulations of values of some kind will be expressed, and then to use only those operations in manipulating the data. By restricting the use of operations in this way, it is much easier to change the representation of abstract data without changing the behavior of a program. For rational numbers, different parts of the program manipulate rational numbers using different operations, as described in this table. Parts of the program that... Treat rationals







Flashcard 1473448381708

Tags
#python #sicp
Question
Why are data abstraction operations limited to those operations in terms of which all manipuations of values will be expressed?
Answer
By restricting the use of operations in this way, it is much easier to change the representation of abstract data without changing the behavior of a program.


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n>In general, the underlying idea of data abstraction is to identify a basic set of operations in terms of which all manipulations of values of some kind will be expressed, and then to use only those operations in manipulating the data. By restricting the use of operations in this way, it is much easier to change the representation of abstract data without changing the behavior of a program.<span><body><html>

Original toplevel document

2.2 Data Abstraction
efore continuing with more examples of compound data and data abstraction, let us consider some of the issues raised by the rational number example. We defined operations in terms of a constructor rational and selectors numer and denom . <span>In general, the underlying idea of data abstraction is to identify a basic set of operations in terms of which all manipulations of values of some kind will be expressed, and then to use only those operations in manipulating the data. By restricting the use of operations in this way, it is much easier to change the representation of abstract data without changing the behavior of a program. For rational numbers, different parts of the program manipulate rational numbers using different operations, as described in this table. Parts of the program that... Treat rationals







Flashcard 1473450741004

Tags
#python #sicp
Question

We follow the same recursive analysis of the problem as we did while counting: partitioning n using integers up to m involves either

  1. [...]
  2. partitioning n using integers up to m-1 .

For base cases, we find that 0 has an empty partition, while partitioning a negative integer or using parts smaller than 1 is impossible.

Answer
partitioning n-m using integers up to m , or


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We follow the same recursive analysis of the problem as we did while counting: partitioning n using integers up to m involves either partitioning n-m using integers up to m , or partitioning n using integers up to m-1 . For base cases, we find that 0 has an empty partition, while partitioning a negative integer or using parts smaller than 1 is impossible.</sp

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2.3 Sequences







Flashcard 1473455459596

Tags
#python #sicp
Question
How is the "character" type implemented in python?
Answer
Python does not have a separate character type; any text is a string, and strings that represent single characters have a length of 1.


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Python does not have a separate character type; any text is a string, and strings that represent single characters have a length of 1.

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2.3 Sequences







Flashcard 1473457818892

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Question
The tree is a [...]
Answer
fundamental data abstraction that imposes regularity on how hierarchical values are structured and manipulated.


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The tree is a fundamental data abstraction that imposes regularity on how hierarchical values are structured and manipulated.

Original toplevel document

2.3 Sequences







Flashcard 1473460178188

Tags
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Question
A tree with no branches is called a [...]
Answer
leaf


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A tree with no branches is called a leaf

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2.3 Sequences







Flashcard 1473462537484

Tags
#python #sicp
Question
Any tree contained within a tree is called a [...] of that tree (such as a branch of a branch)
Answer
sub-tree


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Any tree contained within a tree is called a sub-tree of that tree (such as a branch of a branch)

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2.3 Sequences







Flashcard 1473464896780

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#matlab #programming
Question
Once the context of a problem is familiarized what comes next?
Answer
Step 2 Problem statement. Develop a detailed statement of the mathematical problem to be solved with a computer program


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Step 2 Problem statement. Develop a detailed statement of the mathematical problem to be solved with a computer program.

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Flashcard 1473467256076

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#matlab #programming
Question
What comes after determining the inputs and outputs of the program?
Answer
Step 4 Algorithm. Write the pesudo-code in a top-down process


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Step 4 Algorithm. Design the step-by-step procedure in a top-down process that decomposes the overall problem into subordinate problems. The subtasks to solve the latter are refined by designing an itemized list of steps to be programmed. This list o f tasks is the structure plan and is written in pseudo- code (i.e., a combination of English, mathematics, and anticipated MATLAB commands). The goal is a plan that is understandable and easily translated into a computer language.

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Flashcard 1473469615372

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#python #sicp
Question
A binary tree is either [...]
Answer
a leaf or a sequence of at most two binary trees.


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A binary tree is either a leaf or a sequence of at most two binary trees.

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Flashcard 1473471974668

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#python #sicp
Question
A list is depicted as [...].
Answer
adjacent boxes that contain the elements of the list


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A list is depicted as adjacent boxes that contain the elements of the list. Primitive values such as numbers, strings, boolean values, and None appear within an element box. Composite values, such as function values and other lists, are indicated by an arrow.<

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Flashcard 1473479052556

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#python #sicp
Question
A linked list is a [...]
Answer
pair containing the first element of the sequence and the rest of the sequence


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A linked list is a pair containing the first element of the sequence (in this case 1) and the rest of the sequence (in this case a representation of 2, 3, 4). The second element is also a linked list. The rest of the inner-most linked list containing only 4 is 'empty' , a value that represents an em

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Flashcard 1473481411852

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#bayes #programming #r #statistics
Question
1. A probability value must be [...]
Answer
nonnegative (i.e., zero or positive).


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1. A probability value must be nonnegative (i.e., zero or positive).

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Flashcard 1473483771148

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#bayes #programming #r #statistics
Question
3. For any two mutually exclusive events, the probability that one or the other occurs is [...]
Answer
the sum of their individual probabilities.


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3. For any two mutually exclusive events, the probability that one or the other occurs is the sum of their individual probabilities.

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Flashcard 1473486130444

Question
The basic idea of data abstraction is [...].
Answer
to structure programs so that they operate on abstract data


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The basic idea of data abstraction is to structure programs so that they operate on abstract data. That is, our programs should use data in such a way as to make as few assumptions about the data as possible

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2.2 Data Abstraction
we can make an abstraction that separates the way the function is used from the details of how the function is implemented. Analogously, data abstraction isolates how a compound data value is used from the details of how it is constructed. <span>The basic idea of data abstraction is to structure programs so that they operate on abstract data. That is, our programs should use data in such a way as to make as few assumptions about the data as possible. At the same time, a concrete data representation is defined as an independent part of the program. These two parts of a program, the part that operates on abstract data and the part that defines a concrete representation, are connected by a small set of functions that implement abs







Flashcard 1473488489740

Question
How should programs use data in accordance with data abstraction princples?
Answer
They should use data in such a way as to make as few assumptions about the data as possible


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The basic idea of data abstraction is to structure programs so that they operate on abstract data. That is, our programs should use data in such a way as to make as few assumptions about the data as possible

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2.2 Data Abstraction
we can make an abstraction that separates the way the function is used from the details of how the function is implemented. Analogously, data abstraction isolates how a compound data value is used from the details of how it is constructed. <span>The basic idea of data abstraction is to structure programs so that they operate on abstract data. That is, our programs should use data in such a way as to make as few assumptions about the data as possible. At the same time, a concrete data representation is defined as an independent part of the program. These two parts of a program, the part that operates on abstract data and the part that defines a concrete representation, are connected by a small set of functions that implement abs







Flashcard 1473490849036

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#python #sicp
Question
Some examples of aggregation functions:
Answer
The built-in functions sum , min , and max are all examples of aggregation functions.


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The built-in functions sum , min , and max are all examples of aggregation functions.

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2.3 Sequences







Flashcard 1473493994764

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#python #sicp
Question
The root value of a sub-tree of a tree is called a [...] in that tree.
Answer
node (or node value)


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The root value of a sub-tree of a tree is called a node (or node value) in that tree.

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Flashcard 1473496354060

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#matlab #programming
Question
What comes after transforming the algorithm pseudocode into computer langage?
Answer
Step 6 Evaluation. Test all of the options and conduct a validation study of the program.


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Step 6 Evaluation. Test all of the options and conduct a validation study of the program. For example, compare results with other programs that do similar tasks, compare with experimental data if appropriate, and compare

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Flashcard 1473498713356

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#bayes #programming #r #statistics
Question
2. The sum of the probabilities across all events in the entire sample space must be [...] (i.e., one of the events in the space must happen, otherwise the space does not exhaust all possibilities).
Answer
1.0


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2. The sum of the probabilities across all events in the entire sample space must be 1.0 (i.e., one of the events in the space must happen, otherwise the space does not exhaust all possibilities).

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Flashcard 1473503431948

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#python #sicp
Question

Native data types have the following properties:

  1. [...]
  2. There are built-in functions and operators to manipulate values of native types.

Answer
There are expressions that evaluate to values of native types, called literals.


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The values we have used so far are instances of a small number of native data types that are built into the Python language. Native data types have the following properties: There are expressions that evaluate to values of native types, called literals. There are built-in functions and operators to manipulate values of native types. The int class is the native data type used to represent integers. Integer literals (sequences of adjac

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2.1 Introduction
instances of the int class. These two values can be treated similarly. For example, they can both be negated or added to another integer. The built-in type function allows us to inspect the class of any value. >>> type(2) <span>The values we have used so far are instances of a small number of native data types that are built into the Python language. Native data types have the following properties: There are expressions that evaluate to values of native types, called literals. There are built-in functions and operators to manipulate values of native types. The int class is the native data type used to represent integers. Integer literals (sequences of adjacent numerals) evaluate to int values, and mathematical operators manipulate these values. >>> 12 + 3000000000000000000000000 3000000000000000000000012 Python includes three native numeric types: integers ( int ), real numbers ( float ), and complex numbers ( c







Flashcard 1473505791244

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#python #sicp
Question

Native data types have the following properties:

  1. There are expressions that evaluate to values of native types, called literals.
  2. [...]

Answer
There are built-in functions and operators to manipulate values of native types.


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have used so far are instances of a small number of native data types that are built into the Python language. Native data types have the following properties: There are expressions that evaluate to values of native types, called literals. <span>There are built-in functions and operators to manipulate values of native types. The int class is the native data type used to represent integers. Integer literals (sequences of adjacent numerals) evaluate to int values, and mathematical operators manipulate these

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2.1 Introduction
instances of the int class. These two values can be treated similarly. For example, they can both be negated or added to another integer. The built-in type function allows us to inspect the class of any value. >>> type(2) <span>The values we have used so far are instances of a small number of native data types that are built into the Python language. Native data types have the following properties: There are expressions that evaluate to values of native types, called literals. There are built-in functions and operators to manipulate values of native types. The int class is the native data type used to represent integers. Integer literals (sequences of adjacent numerals) evaluate to int values, and mathematical operators manipulate these values. >>> 12 + 3000000000000000000000000 3000000000000000000000012 Python includes three native numeric types: integers ( int ), real numbers ( float ), and complex numbers ( c







Flashcard 1473507364108

Question
In general, we can express abstract data using a collection of [3 things].
Answer
collection of selectors and constructors, together with some behavior conditions


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In general, we can express abstract data using a collection of selectors and constructors, together with some behavior conditions. As long as the behavior conditions are met (such as the division property above), the selectors and constructors constitute a valid representation of a kind of data. The implementation

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2.2 Data Abstraction
enom . In addition, the appropriate relationship must hold among the constructor and selectors. That is, if we construct a rational number x from integers n and d , then it should be the case that numer(x)/denom(x) is equal to n/d . <span>In general, we can express abstract data using a collection of selectors and constructors, together with some behavior conditions. As long as the behavior conditions are met (such as the division property above), the selectors and constructors constitute a valid representation of a kind of data. The implementation details below an abstraction barrier may change, but if the behavior does not, then the data abstraction remains valid, and any program written using this data abstraction will remain correct. This point of view can be applied broadly, including to the pair values that we used to implement rational numbers. We never actually said much about what a pair was, only that the la







Flashcard 1473512082700

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#python #sicp
Question

Sequences contain smaller sequences within them. A [...] of a sequence is any contiguous span of the original sequence, designated by a pair of integers.

Answer
slice


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Sequences contain smaller sequences within them. A slice of a sequence is any contiguous span of the original sequence, designated by a pair of integers. As with the range constructor, the first integer indicates the starting index of the sli

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2.3 Sequences







Flashcard 1473516801292

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#python #sicp
Question
For lists the add function in the operator module (and the + operator) yields a list that is the [...]
Answer
concatenation of the added arguments


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the add function in the operator module (and the + operator) yields a list that is the concatenation of the added arguments

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2.3 Sequences
he built-in len function returns the length of a sequence. Below, digits is a list with four elements. The element at index 3 is 8. >>> digits = [1, 8, 2, 8] >>> len(digits) 4 >>> digits[3] 8 Additionally, <span>lists can be added together and multiplied by integers. For sequences, addition and multiplication do not add or multiply elements, but instead combine and replicate the sequences themselves. That is, the add function in the operator module (and the + operator) yields a list that is the concatenation of the added arguments. The mul function in operator (and the * operator) can take a list and an integer k to return the list that consists of k repetitions of the original list. >>> [2, 7] + digits * 2 [2, 7, 1, 8, 2, 8, 1, 8, 2, 8] Any values can be included in a list, including another list. Element selection can be applied multiple times in or







Flashcard 1473519160588

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#python #sicp
Question
The mul function in operator (and the * operator) can take a list and an integer k to return [...]
Answer
the list that consists of k repetitions of the original list.


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The mul function in operator (and the * operator) can take a list and an integer k to return the list that consists of k repetitions of the original list.

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2.3 Sequences
he built-in len function returns the length of a sequence. Below, digits is a list with four elements. The element at index 3 is 8. >>> digits = [1, 8, 2, 8] >>> len(digits) 4 >>> digits[3] 8 Additionally, <span>lists can be added together and multiplied by integers. For sequences, addition and multiplication do not add or multiply elements, but instead combine and replicate the sequences themselves. That is, the add function in the operator module (and the + operator) yields a list that is the concatenation of the added arguments. The mul function in operator (and the * operator) can take a list and an integer k to return the list that consists of k repetitions of the original list. >>> [2, 7] + digits * 2 [2, 7, 1, 8, 2, 8, 1, 8, 2, 8] Any values can be included in a list, including another list. Element selection can be applied multiple times in or







Flashcard 1473523879180

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#python #sicp
Question
A tree has a [2 things]
Answer
root value and a sequence of branches.


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A tree has a root value and a sequence of branches.

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Flashcard 1473526238476

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#matlab #programming
Question
What is the first consideration in building a matlab program?
Answer
Step 1 Problem analysis. The context of the proposed investigation must be es- tablished to provide the proper motivation for the d esign of a computer program. The designer must fully recognize the need and must develop an understanding of the nature of the problem to be solved.


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Step 1 Problem analysis. The context of the proposed investigation must be es- tablished to provide the proper motivation for the d esign of a computer program. The designer must fully recognize the need and must develop an understanding of the nature of the problem to be solved.

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Flashcard 1473528597772

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#matlab #programming
Question
Once the problem is mathematically well defined, what comes next?
Answer
Step 3 Processing scheme. Define the inputs required and the outputs to be pro- duced by the p rogram.


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Step 3 Processing scheme. Define the inputs required and the outputs to be pro- duced by the p rogram.

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Flashcard 1473530957068

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#matlab #programming
Question
Once pseudocode is written for the algorithm what comes next?
Answer
Step 5 Program algorithm. Translate or convert the algorithm into a computer language (e.g., MATLAB) and debug the syntax errors until the tool executes successfully.


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Step 5 Program algorithm. Translate or convert the algorithm into a computer language (e.g., MATLAB) and debug the syntax errors until the tool executes successfully.

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Flashcard 1473533316364

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#matlab #programming
Question
Once the validation step of the algorithm is complete what comes next?
Answer
Step 7 Application. Solve the problems the program was designed to solve. If the program is well designed and useful, it can be saved in your working directory (i.e., in your user-developed toolbox) for future use


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Step 7 Application. Solve the problems the program was designed to solve. If the program is well designed and useful, it can be saved in your working directory (i.e., in your user-developed toolbox) for future use

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Flashcard 1473535675660

Tags
#python #sicp
Question
Linked lists have recursive structure: the rest of a linked list is a [...or...]
Answer
linked list or 'empty'


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Linked lists have recursive structure: the rest of a linked list is a linked list or 'empty'

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Flashcard 1473538034956

Question
The general technique of isolating the parts of a program that deal with how data are represented from the parts that deal with how data are manipulated is a powerful design methodology called [...]
Answer
data abstraction.


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The general technique of isolating the parts of a program that deal with how data are represented from the parts that deal with how data are manipulated is a powerful design methodology called data abstraction.

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2.2 Data Abstraction
ta enables us to increase the modularity of our programs. If we can manipulate geographic positions as whole values, then we can shield parts of our program that compute using positions from the details of how those positions are represented. <span>The general technique of isolating the parts of a program that deal with how data are represented from the parts that deal with how data are manipulated is a powerful design methodology called data abstraction. Data abstraction makes programs much easier to design, maintain, and modify. Data abstraction is similar in character to functional abstraction. When we create a functional abstraction, the details of how a function is implemented can be suppressed, and the p







Flashcard 1473540394252

Tags
#python #sicp
Question
What is the procedure for evulating a list comprehension? (4 steps)
Answer
To evaluate a list comprehension,
  1. Python evaluates the <sequence expression> , which must return an iterable value.
  2. Then, for each element in order, the element value is bound to <name> ,
  3. the filter expression is evaluated, and if it yields a true value, the map expression is evaluated.
  4. The values of the map expression are collected into a list.


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Flashcard 1473542753548

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#python #sicp
Question

Partition trees. Trees can also be used to represent the partitions of an integer. A partition tree for n using parts up to size m is a binary (two branch) tree that represents [...]. In a non-leaf partition tree:

  • the left (index 0) branch contains all ways of partitioning n using at least one m ,
  • the right (index 1) branch contains partitions using parts up to m-1 , and
  • the root value is m .
Answer
the choices taken during computation


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Partition trees. Trees can also be used to represent the partitions of an integer. A partition tree for n using parts up to size m is a binary (two branch) tree that represents the choices taken during computation. In a non-leaf partition tree: the left (index 0) branch contains all ways of partitioning n using at least one m , the right (index 1) branch contains partitions using parts up to m-

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2.3 Sequences







Flashcard 1473545112844

Tags
#python #sicp
Question

Partition trees. Trees can also be used to represent the partitions of an integer. A partition tree for n using parts up to size m is a binary (two branch) tree that represents the choices taken during computation. In a non-leaf partition tree:

  • the left (index 0) branch contains [...]
  • the right (index 1) branch contains partitions using parts up to m-1 , and
  • the root value is m .
Answer
all ways of partitioning n using at least one m ,


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to represent the partitions of an integer. A partition tree for n using parts up to size m is a binary (two branch) tree that represents the choices taken during computation. In a non-leaf partition tree: the left (index 0) branch contains <span>all ways of partitioning n using at least one m , the right (index 1) branch contains partitions using parts up to m-1 , and the root value is m .<span><body><html>

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Flashcard 1473547472140

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#python #sicp
Question

Partition trees. Trees can also be used to represent the partitions of an integer. A partition tree for n using parts up to size m is a binary (two branch) tree that represents the choices taken during computation. In a non-leaf partition tree:

  • the left (index 0) branch contains all ways of partitioning n using at least one m ,
  • the right (index 1) branch contains [...] , and
  • the root value is m .
Answer
partitions using parts up to m-1


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ize m is a binary (two branch) tree that represents the choices taken during computation. In a non-leaf partition tree: the left (index 0) branch contains all ways of partitioning n using at least one m , the right (index 1) branch contains <span>partitions using parts up to m-1 , and the root value is m .<span><body><html>

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2.3 Sequences







Flashcard 1473549831436

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#python #sicp
Question

Partition trees. Trees can also be used to represent the partitions of an integer. A partition tree for n using parts up to size m is a binary (two branch) tree that represents the choices taken during computation. In a non-leaf partition tree:

  • the left (index 0) branch contains all ways of partitioning n using at least one m ,
  • the right (index 1) branch contains partitions using parts up to m-1 , and
  • the root value is [...] .
Answer
m


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hoices taken during computation. In a non-leaf partition tree: the left (index 0) branch contains all ways of partitioning n using at least one m , the right (index 1) branch contains partitions using parts up to m-1 , and the root value is <span>m .<span><body><html>

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Article 1473626901772

1. INTRODUCTION
#cfa-level-1 #corporate-finance #reading-22-financial-statement-analysis-intro

Financial analysis is the process of examining a company’s performance in the context of its industry and economic environment in order to arrive at a decision or recommendation. Often, the decisions and recommendations addressed by financial analysts pertain to providing capital to companies—specifically, whether to invest in the company’s debt or equity securities and at what price. An investor in debt securities is concerned about the company’s ability to pay interest and to repay the principal lent. An investor in equity securities is an owner with a residual interest in the company and is concerned about the company’s ability to pay dividends and the likelihood that its share price will increase. Overall, a central focus of financial analysis is evaluating the company’s ability to earn a return on its capital that is at least equal to the cost of that capital, to profitably grow its operations, and to generate enough cash to meet obligations and pursue opportunities. Fundamental financial analy



#cfa-level-1 #corporate-finance #reading-22-financial-statement-analysis-intro
Financial analysis is the process of examining a company’s performance in the context of its industry and economic environment in order to arrive at a decision or recommendation.

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1. INTRODUCTION
Financial analysis is the process of examining a company’s performance in the context of its industry and economic environment in order to arrive at a decision or recommendation. Often, the decisions and recommendations addressed by financial analysts pertain to providing capital to companies—specifically, whether to invest in the company’s debt or equity securi




#cfa-level-1 #corporate-finance #reading-22-financial-statement-analysis-intro
Overall, a central focus of financial analysis is evaluating the company’s ability to earn a return on its capital that is at least equal to the cost of that capital, to profitably grow its operations, and to generate enough cash to meet obligations and pursue opportunities.

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1. INTRODUCTION
nterest and to repay the principal lent. An investor in equity securities is an owner with a residual interest in the company and is concerned about the company’s ability to pay dividends and the likelihood that its share price will increase. <span>Overall, a central focus of financial analysis is evaluating the company’s ability to earn a return on its capital that is at least equal to the cost of that capital, to profitably grow its operations, and to generate enough cash to meet obligations and pursue opportunities. Fundamental financial analysis starts with the information found in a company’s financial reports. These financial reports include audited financial statements, additional disclosures r




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Basic financial statement analysis provides a foundation that enables the analyst to better understand information gathered from research beyond the financial reports.

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1. INTRODUCTION
s with the information found in a company’s financial reports. These financial reports include audited financial statements, additional disclosures required by regulatory authorities, and any accompanying (unaudited) commentary by management. <span>Basic financial statement analysis—as presented in this reading—provides a foundation that enables the analyst to better understand information gathered from research beyond the financial reports. This reading is organized as follows: Section 2 discusses the scope of financial statement analysis. Section 3 describes the sources of information used in financial statem




Article 1473633717516

3. MAJOR FINANCIAL STATEMENTS AND OTHER INFORMATION SOURCES
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In order to perform an equity or credit analysis of a company, an analyst collects a great deal of information. The nature of the information collected will vary on the basis of the individual decision to be made (or the specific purpose of the analysis) but will typically include information about the economy, industry, and company as well as information about comparable peer companies. Much of the information will likely come from outside the company, such as economic statistics, industry reports, trade publications, and databases containing information on competitors. The company itself provides some of the core information for analysis in its financial reports, press releases, investor conference calls, and webcasts. Companies prepare financial reports at regular intervals (annually, semiannually, and/or quarterly depending on the applicable regulatory requirements). Financial reports include financial statements along with supplemental disclosures necessary to assess the company’s financial position



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The nature of the information collected will vary on the basis of the individual decision to be made (or the specific purpose of the analysis) but will typically include information about the economy, industry, and company as well as information about comparable peer companies.

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3. MAJOR FINANCIAL STATEMENTS AND OTHER INFORMATION SOURCES
In order to perform an equity or credit analysis of a company, an analyst collects a great deal of information. The nature of the information collected will vary on the basis of the individual decision to be made (or the specific purpose of the analysis) but will typically include information about the economy, industry, and company as well as information about comparable peer companies. Much of the information will likely come from outside the company, such as economic statistics, industry reports, trade publications, and databases containing information on competitors




#cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro
Much of the information will likely come from outside the company, such as economic statistics, industry reports, trade publications, and databases containing information on competitors

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3. MAJOR FINANCIAL STATEMENTS AND OTHER INFORMATION SOURCES
ted will vary on the basis of the individual decision to be made (or the specific purpose of the analysis) but will typically include information about the economy, industry, and company as well as information about comparable peer companies. <span>Much of the information will likely come from outside the company, such as economic statistics, industry reports, trade publications, and databases containing information on competitors. The company itself provides some of the core information for analysis in its financial reports, press releases, investor conference calls, and webcasts. Companies prepare




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Financial reports include financial statements along with supplemental disclosures necessary to assess the company’s financial position and periodic performance.

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3. MAJOR FINANCIAL STATEMENTS AND OTHER INFORMATION SOURCES
financial reports, press releases, investor conference calls, and webcasts. Companies prepare financial reports at regular intervals (annually, semiannually, and/or quarterly depending on the applicable regulatory requirements). <span>Financial reports include financial statements along with supplemental disclosures necessary to assess the company’s financial position and periodic performance. Financial statements are the result of an accounting recordkeeping process that records economic activities of a company, following the applicable accounting standards and principles. T




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Financial statements are the result of an accounting recordkeeping process that records economic activities of a company, following the applicable accounting standards and principles.

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3. MAJOR FINANCIAL STATEMENTS AND OTHER INFORMATION SOURCES
annually, and/or quarterly depending on the applicable regulatory requirements). Financial reports include financial statements along with supplemental disclosures necessary to assess the company’s financial position and periodic performance. <span>Financial statements are the result of an accounting recordkeeping process that records economic activities of a company, following the applicable accounting standards and principles. These statements summarize the accounting information, mainly for users outside the company (such as investors, creditors, analysts, and others) because users of financial information i




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Financial statements are almost always audited by independent accountants who provide an opinion on whether the financial statements present fairly the company’s performance and financial position in accordance with a specified, applicable set of accounting standards and principles.

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3. MAJOR FINANCIAL STATEMENTS AND OTHER INFORMATION SOURCES
sers of financial information inside a company have direct access to the underlying financial data that are summarized in the financial statements and to other information that is collected but not included in the financial reporting process. <span>Financial statements are almost always audited by independent accountants who provide an opinion on whether the financial statements present fairly the company’s performance and financial position in accordance with a specified, applicable set of accounting standards and principles. <span><body><html>




Article 1473643941132

3.1. Financial Statements and Supplementary Information
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A complete set of financial statements include a statement of financial position (i.e., a balance sheet), a statement of comprehensive income (i.e., a single statement of comprehensive income or an income statement and a statement of comprehensive income), a statement of changes in equity, and a statement of cash flows.2 The balance sheet portrays the company’s financial position at a given point in time. The statement of comprehensive income and statement of cash flows present different aspects of a company’s performance over a period of time. The statement of changes in equity provides additional information regarding the changes in a company’s financial position. In addition, the accompanying notes or footnotes to the financial statements are required and considered an integral part of a complete set of financial statements. Along with the required financial statements, a company typically provides additional information in its financial reports. In many jurisdictions, some or all of this addit



#cfa-level-1 #fra-introduction #reading-22-financial-statement-analysis-intro
A complete set of financial statements include a statement of financial position (i.e., a balance sheet), a statement of comprehensive income (i.e., a single statement of comprehensive income or an income statement and a statement of comprehensive income), a statement of changes in equity, and a statement of cash flows

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3.1. Financial Statements and Supplementary Information
A complete set of financial statements include a statement of financial position (i.e., a balance sheet), a statement of comprehensive income (i.e., a single statement of comprehensive income or an income statement and a statement of comprehensive income), a statement of changes in equity, and a statement of cash flows.2 The balance sheet portrays the company’s financial position at a given point in time. The statement of comprehensive income and statement of cash flows present different aspects of a




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The statement of changes in equity provides additional information regarding the changes in a company’s financial position.

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3.1. Financial Statements and Supplementary Information
f cash flows.2 The balance sheet portrays the company’s financial position at a given point in time. The statement of comprehensive income and statement of cash flows present different aspects of a company’s performance over a period of time. <span>The statement of changes in equity provides additional information regarding the changes in a company’s financial position. In addition, the accompanying notes or footnotes to the financial statements are required and considered an integral part of a complete set of financial statements. Along w




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the accompanying notes or footnotes to the financial statements are required and considered an integral part of a complete set of financial statements.

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3.1. Financial Statements and Supplementary Information
e and statement of cash flows present different aspects of a company’s performance over a period of time. The statement of changes in equity provides additional information regarding the changes in a company’s financial position. In addition, <span>the accompanying notes or footnotes to the financial statements are required and considered an integral part of a complete set of financial statements. Along with the required financial statements, a company typically provides additional information in its financial reports. In many jurisdictions, some or all of this addit




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The additional information provided may include:

A letter from the chairman of the company,

A report from management discussing the results (typically called management discussion and analysis or management commentary),

An external auditor’s report providing assurances,

A governance report describing the structure of the company’s board of directors, and a corporate responsibility report.

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3.1. Financial Statements and Supplementary Information
with the required financial statements, a company typically provides additional information in its financial reports. In many jurisdictions, some or all of this additional information is mandated by regulators or accounting standards boards. <span>The additional information provided may include a letter from the chairman of the company, a report from management discussing the results (typically called management discussion and analysis [MD&A] or management commentary), an external auditor’s report providing assurances, a governance report describing the structure of the company’s board of directors, and a corporate responsibility report. As part of his or her analysis, the financial analyst should read and assess this additional information along with the financial statements. The following sections describe and illustr




Flashcard 1473652329740

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Question
The additional information provided may include:

A [...] from the [...] of the company,
Answer
letter from the chairman


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The additional information provided may include: A letter from the chairman of the company, A report from management discussing the results (typically called management discussion and analysis or management commentary), An external auditor

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3.1. Financial Statements and Supplementary Information
with the required financial statements, a company typically provides additional information in its financial reports. In many jurisdictions, some or all of this additional information is mandated by regulators or accounting standards boards. <span>The additional information provided may include a letter from the chairman of the company, a report from management discussing the results (typically called management discussion and analysis [MD&A] or management commentary), an external auditor’s report providing assurances, a governance report describing the structure of the company’s board of directors, and a corporate responsibility report. As part of his or her analysis, the financial analyst should read and assess this additional information along with the financial statements. The following sections describe and illustr







Flashcard 1473654689036

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Question
The additional information provided may include:


A report from [...]
Answer
management discussing the results.


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The additional information provided may include: A letter from the chairman of the company, A report from management discussing the results (typically called management discussion and analysis or management commentary), An external auditor’s report providing assurances, A governance report describing the structure of the company’s board of directors, and a corporate responsibility

Original toplevel document

3.1. Financial Statements and Supplementary Information
with the required financial statements, a company typically provides additional information in its financial reports. In many jurisdictions, some or all of this additional information is mandated by regulators or accounting standards boards. <span>The additional information provided may include a letter from the chairman of the company, a report from management discussing the results (typically called management discussion and analysis [MD&A] or management commentary), an external auditor’s report providing assurances, a governance report describing the structure of the company’s board of directors, and a corporate responsibility report. As part of his or her analysis, the financial analyst should read and assess this additional information along with the financial statements. The following sections describe and illustr







Flashcard 1473657048332

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Question
The additional information provided may include:


An external [...] providing assurances,
Answer
auditor’s report


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l information provided may include: A letter from the chairman of the company, A report from management discussing the results (typically called management discussion and analysis or management commentary), An <span>external auditor’s report providing assurances, A governance report describing the structure of the company’s board of directors, and a corporate responsibility report.<span><body><html>

Original toplevel document

3.1. Financial Statements and Supplementary Information
with the required financial statements, a company typically provides additional information in its financial reports. In many jurisdictions, some or all of this additional information is mandated by regulators or accounting standards boards. <span>The additional information provided may include a letter from the chairman of the company, a report from management discussing the results (typically called management discussion and analysis [MD&A] or management commentary), an external auditor’s report providing assurances, a governance report describing the structure of the company’s board of directors, and a corporate responsibility report. As part of his or her analysis, the financial analyst should read and assess this additional information along with the financial statements. The following sections describe and illustr







Flashcard 1473659407628

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Question
The additional information provided may include:


A governance report describing [...],
Answer
the structure of the company’s board of directors


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#13; A report from management discussing the results (typically called management discussion and analysis or management commentary), An external auditor’s report providing assurances, A governance report describing <span>the structure of the company’s board of directors, and a corporate responsibility report.<span><body><html>

Original toplevel document

3.1. Financial Statements and Supplementary Information
with the required financial statements, a company typically provides additional information in its financial reports. In many jurisdictions, some or all of this additional information is mandated by regulators or accounting standards boards. <span>The additional information provided may include a letter from the chairman of the company, a report from management discussing the results (typically called management discussion and analysis [MD&A] or management commentary), an external auditor’s report providing assurances, a governance report describing the structure of the company’s board of directors, and a corporate responsibility report. As part of his or her analysis, the financial analyst should read and assess this additional information along with the financial statements. The following sections describe and illustr







Flashcard 1473661766924

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Question
The additional information provided may include:

and a [...] report.
Answer
corporate responsibility


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s (typically called management discussion and analysis or management commentary), An external auditor’s report providing assurances, A governance report describing the structure of the company’s board of directors, and a <span>corporate responsibility report.<span><body><html>

Original toplevel document

3.1. Financial Statements and Supplementary Information
with the required financial statements, a company typically provides additional information in its financial reports. In many jurisdictions, some or all of this additional information is mandated by regulators or accounting standards boards. <span>The additional information provided may include a letter from the chairman of the company, a report from management discussing the results (typically called management discussion and analysis [MD&A] or management commentary), an external auditor’s report providing assurances, a governance report describing the structure of the company’s board of directors, and a corporate responsibility report. As part of his or her analysis, the financial analyst should read and assess this additional information along with the financial statements. The following sections describe and illustr







Article 1473664126220

3.1.1. Balance Sheet
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The balance sheet (also called the statement of financial position or statement of financial condition ) presents a company’s current financial position by disclosing the resources the company controls (assets) and its obligations to lenders and other creditors (liabilities) at a specific point in time. Owners’ equity represents the excess of assets over liabilities. This amount is attributable to the company’s owners or shareholders. Owners’ equity is the owners’ residual interest in (i.e., residual claim on) the company’s assets after deducting its liabilities. The relationship among the three parts of the balance sheet (assets, liabilities, and owners’ equity) can be expressed in the following equation form: Assets = Liabilities + Owners’ equity. This equation (sometimes called the accounting equation or the balance sheet equation) shows that the total amount of assets must equal or balance to the combined total amounts of liabilities and owners’ equity. Alternatively, the equation may b



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3.1.1. Balance Sheet
The balance sheet (also called the statement of financial position or statement of financial condition ) presents a company’s current financial position by disclosing the resources the company controls (assets) and its obligations to lenders and other creditors (liabilities) at a specific




Flashcard 1473666485516

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The balance sheet (also called the statement of financial position or [...]


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The balance sheet (also called the statement of financial position or statement of financial condition )

Original toplevel document

3.1.1. Balance Sheet
The balance sheet (also called the statement of financial position or statement of financial condition ) presents a company’s current financial position by disclosing the resources the company controls (assets) and its obligations to lenders and other creditors (liabilities) at a specific







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Depending on the form of the organization, owners’ equity may be referred to as “partners’ capital” or “shareholders’ equity.”

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3.1.1. Balance Sheet
balance to the combined total amounts of liabilities and owners’ equity. Alternatively, the equation may be rearranged as follows: Assets – Liabilities = Owners’ equity. This formulation emphasizes the residual claim aspect of owners’ equity. <span>Depending on the form of the organization, owners’ equity may be referred to as “partners’ capital” or “shareholders’ equity.” <span><body><html>




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IFRS require companies to present classified balance sheets that show current and non-current assets and current and non-current liabilities as separate classifications. However, IFRS do not prescribe a particular ordering or format, and the order in which companies present their balance sheet items is largely a function of tradition.

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Volkswagen presents non-current assets before current assets, owners’ equity before liabilities, and within liabilities, non-current liabilities before current liabilities. This method generally reflects a presentation from least liquid to most liquid. In other countries, the typical order of presentation may differ. For example, in the United States, Australia, and Canada, companies usually present their assets and liabilities from most liquid to least liquid. Cash is typically the first asset shown, and equity is presented after liabilities.

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Article 1473674611980

3.1.2.1. Income Statement
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The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue and other income the company generated during a period and the expenses it incurred to generate that revenue and other income. Revenue typically refers to amounts charged for the delivery of goods or services in the ordinary activities of a business. Other income includes gains, which may or may not arise in the ordinary activities of the business. Expenses reflect outflows, depletions of assets, and incurrences of liabilities that decrease equity. Expenses typically include such items as cost of sales (cost of goods sold), administrative expenses, and income tax expenses and may be defined to include losses. Net income (revenue plus other income minus expenses) on the income statement is often referred to as the “bottom line” because of its proximity to the bottom of the income statement. Net income may also be referred to a



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The income statement presents information on the financial results of a company’s business activities over a period of time.

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3.1.2.1. Income Statement
The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue and other income the company generated during a period and the expenses it incurred to generate that revenue and other income. Reven




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Other income includes gains, which may or may not arise in the ordinary activities of the business.

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3.1.2.1. Income Statement
r income the company generated during a period and the expenses it incurred to generate that revenue and other income. Revenue typically refers to amounts charged for the delivery of goods or services in the ordinary activities of a business. <span>Other income includes gains, which may or may not arise in the ordinary activities of the business. Expenses reflect outflows, depletions of assets, and incurrences of liabilities that decrease equity. Expenses typically include such items as cost of sales (cost of goods sold), admi




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Expenses reflect outflows, depletions of assets, and incurrences of liabilities that decrease equity.

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3.1.2.1. Income Statement
and other income. Revenue typically refers to amounts charged for the delivery of goods or services in the ordinary activities of a business. Other income includes gains, which may or may not arise in the ordinary activities of the business. <span>Expenses reflect outflows, depletions of assets, and incurrences of liabilities that decrease equity. Expenses typically include such items as cost of sales (cost of goods sold), administrative expenses, and income tax expenses and may be defined to include losses. Net income (revenue p




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Net income (revenue plus other income minus expenses) on the income statement is often referred to as the “bottom line” because of its proximity to the bottom of the income statement.

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3.1.2.1. Income Statement
ws, depletions of assets, and incurrences of liabilities that decrease equity. Expenses typically include such items as cost of sales (cost of goods sold), administrative expenses, and income tax expenses and may be defined to include losses. <span>Net income (revenue plus other income minus expenses) on the income statement is often referred to as the “bottom line” because of its proximity to the bottom of the income statement. Net income may also be referred to as “net earnings,” “net profit,” and “profit or loss.” In the event that expenses exceed revenues and other income, the result is referred to as “net




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Income statements are reported on a consolidated basis, meaning that they include the income and expenses of subsidiary companies under the control of the parent (reporting) company.

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3.1.2.1. Income Statement
o the bottom of the income statement. Net income may also be referred to as “net earnings,” “net profit,” and “profit or loss.” In the event that expenses exceed revenues and other income, the result is referred to as “net loss.” <span>Income statements are reported on a consolidated basis, meaning that they include the income and expenses of subsidiary companies under the control of the parent (reporting) company. The income statement is sometimes referred to as a statement of operations or profit and loss (P&L) statement . The basic equation underlying the income statement is Revenue + Ot




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The income statement is sometimes referred to as a statement of operations or profit and loss (P&L) statement

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3.1.2.1. Income Statement
come, the result is referred to as “net loss.” Income statements are reported on a consolidated basis, meaning that they include the income and expenses of subsidiary companies under the control of the parent (reporting) company. <span>The income statement is sometimes referred to as a statement of operations or profit and loss (P&L) statement . The basic equation underlying the income statement is Revenue + Other income – Expenses = Income – Expenses = Net income. In general terms, when one company (the parent)




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The basic equation underlying the income statement is Revenue + Other income – Expenses = Income – Expenses = Net income.

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3.1.2.1. Income Statement
ning that they include the income and expenses of subsidiary companies under the control of the parent (reporting) company. The income statement is sometimes referred to as a statement of operations or profit and loss (P&L) statement . <span>The basic equation underlying the income statement is Revenue + Other income – Expenses = Income – Expenses = Net income. In general terms, when one company (the parent) controls another company (the subsidiary), the parent presents its own financial statement information consolidated with tha




Flashcard 1473686408460

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Question
The basic equation underlying the income statement is [...] + [...] [...] = Net income.
Answer
Revenue + Other income -Expenses = Income


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The basic equation underlying the income statement is Revenue + Other income – Expenses = Income – Expenses = Net income.

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3.1.2.1. Income Statement
ning that they include the income and expenses of subsidiary companies under the control of the parent (reporting) company. The income statement is sometimes referred to as a statement of operations or profit and loss (P&L) statement . <span>The basic equation underlying the income statement is Revenue + Other income – Expenses = Income – Expenses = Net income. In general terms, when one company (the parent) controls another company (the subsidiary), the parent presents its own financial statement information consolidated with tha







#cfa-level-1 #reading-22-financial-statement-analysis-intro
In general terms, when one company (the parent) controls another company (the subsidiary), the parent presents its own financial statement information consolidated with that of the subsidiary.

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3.1.2.1. Income Statement
statement is sometimes referred to as a statement of operations or profit and loss (P&L) statement . The basic equation underlying the income statement is Revenue + Other income – Expenses = Income – Expenses = Net income. <span>In general terms, when one company (the parent) controls another company (the subsidiary), the parent presents its own financial statement information consolidated with that of the subsidiary. (When a parent company owns more than 50 percent of the voting shares of a subsidiary company, it is presumed to control the subsidiary and thus presents consolidated financial statemen




#cfa-level-1 #reading-22-financial-statement-analysis-intro
When a parent company owns more than 50 percent of the voting shares of a subsidiary company, it is presumed to control the subsidiary and thus presents consolidated financial statements.

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3.1.2.1. Income Statement
es = Income – Expenses = Net income. In general terms, when one company (the parent) controls another company (the subsidiary), the parent presents its own financial statement information consolidated with that of the subsidiary. <span>(When a parent company owns more than 50 percent of the voting shares of a subsidiary company, it is presumed to control the subsidiary and thus presents consolidated financial statements.) Each line item of the consolidated income statement includes the entire amount from the relevant line item on the subsidiary’s income statement (after removing any intercompany transac




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Each line item of the consolidated income statement includes the entire amount from the relevant line item on the subsidiary’s income statement (after removing any intercompany transactions); however, if the parent does not own 100 percent of the subsidiary, it is necessary for the parent to present an allocation of net income to the minority interests.

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3.1.2.1. Income Statement
nformation consolidated with that of the subsidiary. (When a parent company owns more than 50 percent of the voting shares of a subsidiary company, it is presumed to control the subsidiary and thus presents consolidated financial statements.) <span>Each line item of the consolidated income statement includes the entire amount from the relevant line item on the subsidiary’s income statement (after removing any intercompany transactions); however, if the parent does not own 100 percent of the subsidiary, it is necessary for the parent to present an allocation of net income to the minority interests. Minority interests, also called non-controlling interests, refer to owners of the remaining shares of the subsidiary that are not owned by the parent. The share of consolidated net inco




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Minority interests, also called non-controlling interests, refer to owners of the remaining shares of the subsidiary that are not owned by the parent.

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3.1.2.1. Income Statement
subsidiary’s income statement (after removing any intercompany transactions); however, if the parent does not own 100 percent of the subsidiary, it is necessary for the parent to present an allocation of net income to the minority interests. <span>Minority interests, also called non-controlling interests, refer to owners of the remaining shares of the subsidiary that are not owned by the parent. The share of consolidated net income attributable to minority interests is shown at the bottom of the income statement along with the net income attributable to shareholders of the pare




Flashcard 1473695321356

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] refer to owners of the remaining shares of the subsidiary that are not owned by the parent.
Answer
Minority interests

also called non-controlling interests,


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Minority interests, also called non-controlling interests, refer to owners of the remaining shares of the subsidiary that are not owned by the parent.

Original toplevel document

3.1.2.1. Income Statement
subsidiary’s income statement (after removing any intercompany transactions); however, if the parent does not own 100 percent of the subsidiary, it is necessary for the parent to present an allocation of net income to the minority interests. <span>Minority interests, also called non-controlling interests, refer to owners of the remaining shares of the subsidiary that are not owned by the parent. The share of consolidated net income attributable to minority interests is shown at the bottom of the income statement along with the net income attributable to shareholders of the pare







#cfa-level-1 #reading-22-financial-statement-analysis-intro
The share of consolidated net income attributable to minority interests is shown at the bottom of the income statement along with the net income attributable to shareholders of the parent company.

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3.1.2.1. Income Statement
necessary for the parent to present an allocation of net income to the minority interests. Minority interests, also called non-controlling interests, refer to owners of the remaining shares of the subsidiary that are not owned by the parent. <span>The share of consolidated net income attributable to minority interests is shown at the bottom of the income statement along with the net income attributable to shareholders of the parent company. <span><body><html>




Article 1473738837260

3.1.2. Statement of Comprehensive Income
#cfa-level-1 #reading-22-financial-statement-analysis-intro

The statement of comprehensive income, under IFRS, can be presented as a single statement of comprehensive income or as two statements, an income statement and a statement of comprehensive income that begins with profit or loss from the income statement. The Volkswagen Group chose the latter form of presentation rather than a single statement.



Flashcard 1473740147980

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Question

The statement of comprehensive income, under [...], can be presented as a single statement of comprehensive income or as two statements, an income statement and a statement of comprehensive income that begins with profit or loss from the income statement.

Answer
IFRS


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3.1.2. Statement of Comprehensive Income
The statement of comprehensive income, under IFRS, can be presented as a single statement of comprehensive income or as two statements, an income statement and a statement of comprehensive income that begins with profit or loss from th







Article 1473742507276

Statement of comprehensive income
#cfa-level-1 #reading-22-financial-statement-analysis-intro

3.1.2.1. Income Statement The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue and other income the company generated during a period and the expenses it incurred to generate that revenue and other income. Revenue typically refers to amounts charged for the delivery of goods or services in the ordinary activities of a business. Other income includes gains, which may or may not arise in the ordinary activities of the business. Expenses reflect outflows, depletions of assets, and incurrences of liabilities that decrease equity. Expenses typically include such items as cost of sales (cost of goods sold), administrative expenses, and income tax expenses and may be defined to include losses. Net income (revenue plus other income minus expenses) on the income statement is often referred to as the “bottom line” because of its proximity to the bottom of the income statement. Net in



#cfa-level-1 #reading-22-financial-statement-analysis-intro
The income statement is sometimes referred to as a statement of operations or profit and loss (P&L) statement .

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Statement of comprehensive income
come, the result is referred to as “net loss.” Income statements are reported on a consolidated basis, meaning that they include the income and expenses of subsidiary companies under the control of the parent (reporting) company. <span>The income statement is sometimes referred to as a statement of operations or profit and loss (P&L) statement . The basic equation underlying the income statement is Revenue + Other income – Expenses = Income – Expenses = Net income. In general terms, when one company (the parent) co




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Operating profit represents the results of the company’s usual business activities before deducting interest expense or taxes.

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Statement of comprehensive income
r 2009 was €105,187 million. Subtracting cost of sales from revenue gives gross profit of €13,579 million. After subtracting operating costs and expenses and adding other operating income, the company’s operating profit totals €1,855 million. <span>Operating profit represents the results of the company’s usual business activities before deducting interest expense or taxes. Operating profit (also called operating income) is thus often referred to as earnings before interest and taxes (EBIT). Next, operating profit is increased by Volkswagen’s share of the




Flashcard 1473754828044

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Operating profit represents the results of the company’s usual business activities before [...]
Answer
deducting interest expense or taxes.


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Operating profit represents the results of the company’s usual business activities before deducting interest expense or taxes.

Original toplevel document

Statement of comprehensive income
r 2009 was €105,187 million. Subtracting cost of sales from revenue gives gross profit of €13,579 million. After subtracting operating costs and expenses and adding other operating income, the company’s operating profit totals €1,855 million. <span>Operating profit represents the results of the company’s usual business activities before deducting interest expense or taxes. Operating profit (also called operating income) is thus often referred to as earnings before interest and taxes (EBIT). Next, operating profit is increased by Volkswagen’s share of the







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Operating profit (also called operating income) is thus often referred to as earnings before interest and taxes (EBIT)

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Statement of comprehensive income
erating costs and expenses and adding other operating income, the company’s operating profit totals €1,855 million. Operating profit represents the results of the company’s usual business activities before deducting interest expense or taxes. <span>Operating profit (also called operating income) is thus often referred to as earnings before interest and taxes (EBIT). Next, operating profit is increased by Volkswagen’s share of the profits generated by certain of its investments (€701 million) and by profits from its other financial activities (€972




Flashcard 1473758498060

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Operating profit (also called operating income) is thus often referred to as [...]
Answer
earnings before interest and taxes (EBIT)


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Operating profit (also called operating income) is thus often referred to as earnings before interest and taxes (EBIT)

Original toplevel document

Statement of comprehensive income
erating costs and expenses and adding other operating income, the company’s operating profit totals €1,855 million. Operating profit represents the results of the company’s usual business activities before deducting interest expense or taxes. <span>Operating profit (also called operating income) is thus often referred to as earnings before interest and taxes (EBIT). Next, operating profit is increased by Volkswagen’s share of the profits generated by certain of its investments (€701 million) and by profits from its other financial activities (€972







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Earnings per share numbers represent net income attributable to the class of shareholders divided by the relevant number of shares of stock outstanding during the period.

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Statement of comprehensive income
idiary in which Volkswagen owns about 72 percent of the voting rights (with the minority interests owning the remaining 28 percent). Companies present both basic and diluted earnings per share on the face of the income statement. <span>Earnings per share numbers represent net income attributable to the class of shareholders divided by the relevant number of shares of stock outstanding during the period. Basic earnings per share is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable




Flashcard 1473764527372

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] numbers represent net income attributable to the class of shareholders divided by the relevant number of shares of stock outstanding during the period.
Answer
Earnings per share


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Earnings per share numbers represent net income attributable to the class of shareholders divided by the relevant number of shares of stock outstanding during the period.

Original toplevel document

Statement of comprehensive income
idiary in which Volkswagen owns about 72 percent of the voting rights (with the minority interests owning the remaining 28 percent). Companies present both basic and diluted earnings per share on the face of the income statement. <span>Earnings per share numbers represent net income attributable to the class of shareholders divided by the relevant number of shares of stock outstanding during the period. Basic earnings per share is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Basic earnings per share is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable to the common shareowners.

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Statement of comprehensive income
sic and diluted earnings per share on the face of the income statement. Earnings per share numbers represent net income attributable to the class of shareholders divided by the relevant number of shares of stock outstanding during the period. <span>Basic earnings per share is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable to the common shareowners. Diluted earnings per share uses diluted shares —the number of shares that would hypothetically be outstanding if potentially dilutive claims on common shares (e.g., stock options or co




Flashcard 1473767935244

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable to the common shareowners.
Answer
Basic earnings per share


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Basic earnings per share is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable to the common shareowner

Original toplevel document

Statement of comprehensive income
sic and diluted earnings per share on the face of the income statement. Earnings per share numbers represent net income attributable to the class of shareholders divided by the relevant number of shares of stock outstanding during the period. <span>Basic earnings per share is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable to the common shareowners. Diluted earnings per share uses diluted shares —the number of shares that would hypothetically be outstanding if potentially dilutive claims on common shares (e.g., stock options or co







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Diluted earnings per share uses diluted shares —the number of shares that would hypothetically be outstanding if potentially dilutive claims on common shares (e.g., stock options or convertible bonds) were exercised or converted by their holders—and an appropriately adjusted profit or loss attributable to the common shareowners.

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Statement of comprehensive income
utstanding during the period. Basic earnings per share is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable to the common shareowners. <span>Diluted earnings per share uses diluted shares —the number of shares that would hypothetically be outstanding if potentially dilutive claims on common shares (e.g., stock options or convertible bonds) were exercised or converted by their holders—and an appropriately adjusted profit or loss attributable to the common shareowners. Volkswagen has two types of shareholders, ordinary and preferred, and presents earnings per share information for both, although there is no requirement to present earnings




Flashcard 1473772915980

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] are the number of shares that would be outstanding if potentially dilutive claims on common shares were exercised by their holders.
Answer
Diluted earnings per share


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Diluted earnings per share uses diluted shares —the number of shares that would hypothetically be outstanding if potentially dilutive claims on common shares (e.g., stock options or convertible bonds) were exerc

Original toplevel document

Statement of comprehensive income
utstanding during the period. Basic earnings per share is calculated using the weighted-average number of common (ordinary) shares that were actually outstanding during the period and the profit or loss attributable to the common shareowners. <span>Diluted earnings per share uses diluted shares —the number of shares that would hypothetically be outstanding if potentially dilutive claims on common shares (e.g., stock options or convertible bonds) were exercised or converted by their holders—and an appropriately adjusted profit or loss attributable to the common shareowners. Volkswagen has two types of shareholders, ordinary and preferred, and presents earnings per share information for both, although there is no requirement to present earnings







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Volkswagen has two types of shareholders, ordinary and preferred, and presents earnings per share information for both, although there is no requirement to present earnings per share information for preferred shareowners.

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Statement of comprehensive income
standing if potentially dilutive claims on common shares (e.g., stock options or convertible bonds) were exercised or converted by their holders—and an appropriately adjusted profit or loss attributable to the common shareowners. <span>Volkswagen has two types of shareholders, ordinary and preferred, and presents earnings per share information for both, although there is no requirement to present earnings per share information for preferred shareowners. Volkswagen’s basic earnings per ordinary share was €2.38. A note to the company’s financial statements explains that this number was calculated as follows: €960 million profit attributa




Flashcard 1473777372428

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Volkswagen has two types of shareholders, [...], and presents earnings per share information for both.
Answer
ordinary and preferred


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Volkswagen has two types of shareholders, ordinary and preferred, and presents earnings per share information for both, although there is no requirement to present earnings per share information for preferred shareowners.

Original toplevel document

Statement of comprehensive income
standing if potentially dilutive claims on common shares (e.g., stock options or convertible bonds) were exercised or converted by their holders—and an appropriately adjusted profit or loss attributable to the common shareowners. <span>Volkswagen has two types of shareholders, ordinary and preferred, and presents earnings per share information for both, although there is no requirement to present earnings per share information for preferred shareowners. Volkswagen’s basic earnings per ordinary share was €2.38. A note to the company’s financial statements explains that this number was calculated as follows: €960 million profit attributa







Flashcard 1473779993868

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
There is no requirement to present earnings per share information for [...] shareowners.
Answer
preferred


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Volkswagen has two types of shareholders, ordinary and preferred, and presents earnings per share information for both, although there is no requirement to present earnings per share information for preferred shareowners.

Original toplevel document

Statement of comprehensive income
standing if potentially dilutive claims on common shares (e.g., stock options or convertible bonds) were exercised or converted by their holders—and an appropriately adjusted profit or loss attributable to the common shareowners. <span>Volkswagen has two types of shareholders, ordinary and preferred, and presents earnings per share information for both, although there is no requirement to present earnings per share information for preferred shareowners. Volkswagen’s basic earnings per ordinary share was €2.38. A note to the company’s financial statements explains that this number was calculated as follows: €960 million profit attributa







#cfa-level-1 #reading-22-financial-statement-analysis-intro

An analyst examining the income statement might note that Volkswagen was profitable in both years. The company’s profitability declined substantially in 2009, primarily because of lower sales and reduced gross profit. This was not unexpected given the global financial and economic crisis in that year. A better understanding of Volkswagen’s profitability could likely be gained by examining income statements over a longer time period. The analyst might formulate questions related to profitability, such as the following:

  • Is the change in revenue related to an increase in units sold, an increase in prices, or some combination?

  • If the company has multiple business segments (for example, Volkswagen’s segments include passenger cars, light commercial vehicles, and financial services, among others), how are the segments’ revenue and profits changing?

  • How does the company compare with other companies in the industry?

Answering such questions requires the analyst to gather, analyze, and interpret information from a number of sources, including, but not limited to, the income statement.

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Statement of comprehensive income
y shareholders divided by the weighted-average number of ordinary shares of 295 million shares equals basic earnings per share for 2009 of €2.38. Similar detail is provided in the notes for each of the earnings per share numbers. <span>An analyst examining the income statement might note that Volkswagen was profitable in both years. The company’s profitability declined substantially in 2009, primarily because of lower sales and reduced gross profit. This was not unexpected given the global financial and economic crisis in that year. A better understanding of Volkswagen’s profitability could likely be gained by examining income statements over a longer time period. The analyst might formulate questions related to profitability, such as the following: Is the change in revenue related to an increase in units sold, an increase in prices, or some combination? If the company has multiple business segments (for example, Volkswagen’s segments include passenger cars, light commercial vehicles, and financial services, among others), how are the segments’ revenue and profits changing? How does the company compare with other companies in the industry? Answering such questions requires the analyst to gather, analyze, and interpret information from a number of sources, including, but not limited to, the income statement. 3.1.2.2. Other Comprehensive Income Comprehensive income includes all items that impact owners’ equity but are not the result of tra




#cfa-level-1 #reading-22-financial-statement-analysis-intro

3.1.2.2. Other Comprehensive Income

Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners. Some of these items are included in the calculation of net income, and some are included in other comprehensive income (OCI). Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income. Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they permit companies to present the components of other comprehensive income in the statement of changes in equity.5

Exhibit 6 presents the statement of comprehensive income of the Volkswagen Group from its Annual Report 2009.

Exhibit 6. Statement of Comprehensive Income of the Volkswagen Group for the Period 1 January to 31 December
€ million2009 2008
Profit after tax911 4,688
Exchange differences on translating foreign operations:
Fair value changes recognized in other comprehensive income917 –1,445
Transferred to profit or loss57
Actuarial gains/losses–860 190
Cash flow hedges:
Fair value changes recognized in other comprehensive income683 1,054
Transferred to profit or loss–908 –1,427
Available-for-sale financial assets (marketable securities):
Fair value changes recognized in other comprehensive income200 –330
Transferred to profit or loss71 100
Deferred taxes216 145
Share of profits and losses of equity-accounted investments recognized directly in equity, after tax30 –188
Other comprehensive income406 –1,901
Total comprehensive income1,317 2,787
Of which attributable to
Shareholders of Volkswagen AG1,138 3,310
Minority interests179 –523

Exhibit 6 shows that other comprehensive income, although smaller in absolute terms than profit after tax (net income), had a significant effect on total comprehensive income. In 2009, other comprehensive income represented approximately 31 percent of total comprehensive income and was approximately 45 percent of the size of profit after tax (net income). In 2008, other comprehensive income was negative (a loss) and was approximately 41 percent of the size of profit after tax (net income) in absolute terms. The statement of comprehensive income will b

...

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Statement of comprehensive income
industry? Answering such questions requires the analyst to gather, analyze, and interpret information from a number of sources, including, but not limited to, the income statement. <span>3.1.2.2. Other Comprehensive Income Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners. Some of these items are included in the calculation of net income, and some are included in other comprehensive income (OCI). Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income. Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they permit companies to present the components of other comprehensive income in the statement of changes in equity.5 Exhibit 6 presents the statement of comprehensive income of the Volkswagen Group from its Annual Report 2009. Exhibit 6. Statement of Comprehensive Income of the Volkswagen Group for the Period 1 January to 31 December € million 2009 2008 Profit after tax 911 4,688 Exchange differences on translating foreign operations: Fair value changes recognized in other comprehensive income 917 –1,445 Transferred to profit or loss 57 Actuarial gains/losses –860 190 Cash flow hedges: Fair value changes recognized in other comprehensive income 683 1,054 Transferred to profit or loss –908 –1,427 Available-for-sale financial assets (marketable securities): Fair value changes recognized in other comprehensive income 200 –330 Transferred to profit or loss 71 100 Deferred taxes 216 145 Share of profits and losses of equity-accounted investments recognized directly in equity, after tax 30 –188 Other comprehensive income 406 –1,901 Total comprehensive income 1,317 2,787 Of which attributable to Shareholders of Volkswagen AG 1,138 3,310 Minority interests 179 –523 Exhibit 6 shows that other comprehensive income, although smaller in absolute terms than profit after tax (net income), had a significant effect on total comprehensive income. In 2009, other comprehensive income represented approximately 31 percent of total comprehensive income and was approximately 45 percent of the size of profit after tax (net income). In 2008, other comprehensive income was negative (a loss) and was approximately 41 percent of the size of profit after tax (net income) in absolute terms. The statement of comprehensive income will be discussed in greater detail in a later reading. The next section briefly describes the statement of changes in equity. <span><body><html>




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners.

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3.1.2.2. Other Comprehensive Income Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners. Some of these items are included in the calculation of net income, and some are included in other comprehensive income (OCI). Under IFRS, when comprehensive income is presented in two s

Original toplevel document

Statement of comprehensive income
industry? Answering such questions requires the analyst to gather, analyze, and interpret information from a number of sources, including, but not limited to, the income statement. <span>3.1.2.2. Other Comprehensive Income Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners. Some of these items are included in the calculation of net income, and some are included in other comprehensive income (OCI). Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income. Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they permit companies to present the components of other comprehensive income in the statement of changes in equity.5 Exhibit 6 presents the statement of comprehensive income of the Volkswagen Group from its Annual Report 2009. Exhibit 6. Statement of Comprehensive Income of the Volkswagen Group for the Period 1 January to 31 December € million 2009 2008 Profit after tax 911 4,688 Exchange differences on translating foreign operations: Fair value changes recognized in other comprehensive income 917 –1,445 Transferred to profit or loss 57 Actuarial gains/losses –860 190 Cash flow hedges: Fair value changes recognized in other comprehensive income 683 1,054 Transferred to profit or loss –908 –1,427 Available-for-sale financial assets (marketable securities): Fair value changes recognized in other comprehensive income 200 –330 Transferred to profit or loss 71 100 Deferred taxes 216 145 Share of profits and losses of equity-accounted investments recognized directly in equity, after tax 30 –188 Other comprehensive income 406 –1,901 Total comprehensive income 1,317 2,787 Of which attributable to Shareholders of Volkswagen AG 1,138 3,310 Minority interests 179 –523 Exhibit 6 shows that other comprehensive income, although smaller in absolute terms than profit after tax (net income), had a significant effect on total comprehensive income. In 2009, other comprehensive income represented approximately 31 percent of total comprehensive income and was approximately 45 percent of the size of profit after tax (net income). In 2008, other comprehensive income was negative (a loss) and was approximately 41 percent of the size of profit after tax (net income) in absolute terms. The statement of comprehensive income will be discussed in greater detail in a later reading. The next section briefly describes the statement of changes in equity. <span><body><html>




Flashcard 1473787858188

Tags
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Question
[...] includes all items that impact owners’ equity but are not the result of transactions with shareowners.
Answer
Comprehensive income


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Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners.

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Statement of comprehensive income
industry? Answering such questions requires the analyst to gather, analyze, and interpret information from a number of sources, including, but not limited to, the income statement. <span>3.1.2.2. Other Comprehensive Income Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners. Some of these items are included in the calculation of net income, and some are included in other comprehensive income (OCI). Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income. Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they permit companies to present the components of other comprehensive income in the statement of changes in equity.5 Exhibit 6 presents the statement of comprehensive income of the Volkswagen Group from its Annual Report 2009. Exhibit 6. Statement of Comprehensive Income of the Volkswagen Group for the Period 1 January to 31 December € million 2009 2008 Profit after tax 911 4,688 Exchange differences on translating foreign operations: Fair value changes recognized in other comprehensive income 917 –1,445 Transferred to profit or loss 57 Actuarial gains/losses –860 190 Cash flow hedges: Fair value changes recognized in other comprehensive income 683 1,054 Transferred to profit or loss –908 –1,427 Available-for-sale financial assets (marketable securities): Fair value changes recognized in other comprehensive income 200 –330 Transferred to profit or loss 71 100 Deferred taxes 216 145 Share of profits and losses of equity-accounted investments recognized directly in equity, after tax 30 –188 Other comprehensive income 406 –1,901 Total comprehensive income 1,317 2,787 Of which attributable to Shareholders of Volkswagen AG 1,138 3,310 Minority interests 179 –523 Exhibit 6 shows that other comprehensive income, although smaller in absolute terms than profit after tax (net income), had a significant effect on total comprehensive income. In 2009, other comprehensive income represented approximately 31 percent of total comprehensive income and was approximately 45 percent of the size of profit after tax (net income). In 2008, other comprehensive income was negative (a loss) and was approximately 41 percent of the size of profit after tax (net income) in absolute terms. The statement of comprehensive income will be discussed in greater detail in a later reading. The next section briefly describes the statement of changes in equity. <span><body><html>







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Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income.

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ensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners. Some of these items are included in the calculation of net income, and some are included in other comprehensive income (OCI). <span>Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income. Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they

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Statement of comprehensive income
industry? Answering such questions requires the analyst to gather, analyze, and interpret information from a number of sources, including, but not limited to, the income statement. <span>3.1.2.2. Other Comprehensive Income Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners. Some of these items are included in the calculation of net income, and some are included in other comprehensive income (OCI). Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income. Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they permit companies to present the components of other comprehensive income in the statement of changes in equity.5 Exhibit 6 presents the statement of comprehensive income of the Volkswagen Group from its Annual Report 2009. Exhibit 6. Statement of Comprehensive Income of the Volkswagen Group for the Period 1 January to 31 December € million 2009 2008 Profit after tax 911 4,688 Exchange differences on translating foreign operations: Fair value changes recognized in other comprehensive income 917 –1,445 Transferred to profit or loss 57 Actuarial gains/losses –860 190 Cash flow hedges: Fair value changes recognized in other comprehensive income 683 1,054 Transferred to profit or loss –908 –1,427 Available-for-sale financial assets (marketable securities): Fair value changes recognized in other comprehensive income 200 –330 Transferred to profit or loss 71 100 Deferred taxes 216 145 Share of profits and losses of equity-accounted investments recognized directly in equity, after tax 30 –188 Other comprehensive income 406 –1,901 Total comprehensive income 1,317 2,787 Of which attributable to Shareholders of Volkswagen AG 1,138 3,310 Minority interests 179 –523 Exhibit 6 shows that other comprehensive income, although smaller in absolute terms than profit after tax (net income), had a significant effect on total comprehensive income. In 2009, other comprehensive income represented approximately 31 percent of total comprehensive income and was approximately 45 percent of the size of profit after tax (net income). In 2008, other comprehensive income was negative (a loss) and was approximately 41 percent of the size of profit after tax (net income) in absolute terms. The statement of comprehensive income will be discussed in greater detail in a later reading. The next section briefly describes the statement of changes in equity. <span><body><html>




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they permit companies to present the components of other comprehensive income in the statement of changes in equity.

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income (OCI). Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income. <span>Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they permit companies to present the components of other comprehensive income in the statement of changes in equity.5 Exhibit 6 presents the statement of comprehensive income of the Volkswagen Group from its Annual Report 2009. Exhibit 6. Statement of Comprehensive Incom

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Statement of comprehensive income
industry? Answering such questions requires the analyst to gather, analyze, and interpret information from a number of sources, including, but not limited to, the income statement. <span>3.1.2.2. Other Comprehensive Income Comprehensive income includes all items that impact owners’ equity but are not the result of transactions with shareowners. Some of these items are included in the calculation of net income, and some are included in other comprehensive income (OCI). Under IFRS, when comprehensive income is presented in two statements, the statement of comprehensive income begins with the profit or loss from the income statement and then presents the components of other comprehensive income. Although US generally accepted accounting principles (US GAAP) indicate a preference for this type of presentation when a single statement of comprehensive income is not presented, they permit companies to present the components of other comprehensive income in the statement of changes in equity.5 Exhibit 6 presents the statement of comprehensive income of the Volkswagen Group from its Annual Report 2009. Exhibit 6. Statement of Comprehensive Income of the Volkswagen Group for the Period 1 January to 31 December € million 2009 2008 Profit after tax 911 4,688 Exchange differences on translating foreign operations: Fair value changes recognized in other comprehensive income 917 –1,445 Transferred to profit or loss 57 Actuarial gains/losses –860 190 Cash flow hedges: Fair value changes recognized in other comprehensive income 683 1,054 Transferred to profit or loss –908 –1,427 Available-for-sale financial assets (marketable securities): Fair value changes recognized in other comprehensive income 200 –330 Transferred to profit or loss 71 100 Deferred taxes 216 145 Share of profits and losses of equity-accounted investments recognized directly in equity, after tax 30 –188 Other comprehensive income 406 –1,901 Total comprehensive income 1,317 2,787 Of which attributable to Shareholders of Volkswagen AG 1,138 3,310 Minority interests 179 –523 Exhibit 6 shows that other comprehensive income, although smaller in absolute terms than profit after tax (net income), had a significant effect on total comprehensive income. In 2009, other comprehensive income represented approximately 31 percent of total comprehensive income and was approximately 45 percent of the size of profit after tax (net income). In 2008, other comprehensive income was negative (a loss) and was approximately 41 percent of the size of profit after tax (net income) in absolute terms. The statement of comprehensive income will be discussed in greater detail in a later reading. The next section briefly describes the statement of changes in equity. <span><body><html>




Fair value also represents the value of a company’s assets and liabilities when a subsidiary company’s financial statements are consolidated with a parent company.

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Fair Value Definition | Investopedia
What is 'Fair Value' <span>Fair value is defined as a sale price agreed to by a willing buyer and seller, assuming both parties enter the transaction freely. Many investments have a fair value determined by a market where the security is traded. Fair value also represents the value of a company’s assets and liabilities when a subsidiary company’s financial statements are consolidated with a parent company. BREAKING DOWN 'Fair Value' The most reliable way to determine an investment’s fair value is to list the security on an exchange. If XYZ stock trad




Article 1473800965388

3.1.3. Statement of Changes in Equity
#cfa-level-1 #reading-22-financial-statement-analysis-intro

The statement of changes in equity, variously called the “statement of changes in owners’ equity” or “statement of changes in shareholders’ equity,” primarily serves to report changes in the owners’ investment in the business over time. The basic components of owners’ equity are paid-in capital and retained earnings. Retained earnings include the cumulative amount of the company’s profits that have been retained in the company. In addition, non-controlling or minority interests and reserves that represent accumulated other comprehensive income items are included in equity. The latter items may be shown separately or included in retained earnings. Volkswagen includes reserves as components of retained earnings. The statement of changes in equity is organized to present, for each component of equity, the beginning balance, any increases during the period, any decreases during the period, and the ending balance. For paid-in capital, an example of an increase is a new issuance of equity and an exam



#cfa-level-1 #reading-22-financial-statement-analysis-intro
The statement of changes in equity primarily serves to report changes in the owners’ investment in the business over time.

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3.1.3. Statement of Changes in Equity
The statement of changes in equity, variously called the “statement of changes in owners’ equity” or “statement of changes in shareholders’ equity,” primarily serves to report changes in the owners’ investment in the business over time. The basic components of owners’ equity are paid-in capital and retained earnings. Retained earnings include the cumulative amount of the company’s profits that have been retained in the




Flashcard 1473819315468

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] primarily serves to report changes in the owners’ investment in the business over time.
Answer
The statement of changes in equity


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The statement of changes in equity primarily serves to report changes in the owners’ investment in the business over time.

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3.1.3. Statement of Changes in Equity
The statement of changes in equity, variously called the “statement of changes in owners’ equity” or “statement of changes in shareholders’ equity,” primarily serves to report changes in the owners’ investment in the business over time. The basic components of owners’ equity are paid-in capital and retained earnings. Retained earnings include the cumulative amount of the company’s profits that have been retained in the







#cfa-level-1 #reading-22-financial-statement-analysis-intro
The basic components of owners’ equity are paid-in capital and retained earnings.

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3.1.3. Statement of Changes in Equity
#13; The statement of changes in equity, variously called the “statement of changes in owners’ equity” or “statement of changes in shareholders’ equity,” primarily serves to report changes in the owners’ investment in the business over time. <span>The basic components of owners’ equity are paid-in capital and retained earnings. Retained earnings include the cumulative amount of the company’s profits that have been retained in the company. In addition, non-controlling or minority interests and reserves that rep




Flashcard 1473821936908

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
The basic components of owners’ equity are [...] and [...]
Answer
paid-in capital

retained earnings.


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The basic components of owners’ equity are paid-in capital and retained earnings.

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3.1.3. Statement of Changes in Equity
#13; The statement of changes in equity, variously called the “statement of changes in owners’ equity” or “statement of changes in shareholders’ equity,” primarily serves to report changes in the owners’ investment in the business over time. <span>The basic components of owners’ equity are paid-in capital and retained earnings. Retained earnings include the cumulative amount of the company’s profits that have been retained in the company. In addition, non-controlling or minority interests and reserves that rep







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Retained earnings include the cumulative amount of the company’s profits that have been retained in the company.

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3.1.3. Statement of Changes in Equity
es in owners’ equity” or “statement of changes in shareholders’ equity,” primarily serves to report changes in the owners’ investment in the business over time. The basic components of owners’ equity are paid-in capital and retained earnings. <span>Retained earnings include the cumulative amount of the company’s profits that have been retained in the company. In addition, non-controlling or minority interests and reserves that represent accumulated other comprehensive income items are included in equity. The latter items may be shown separat




Flashcard 1473825344780

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] include the cumulative amount of the company’s profits that have been retained in the company.
Answer
Retained earnings


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Retained earnings include the cumulative amount of the company’s profits that have been retained in the company.

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3.1.3. Statement of Changes in Equity
es in owners’ equity” or “statement of changes in shareholders’ equity,” primarily serves to report changes in the owners’ investment in the business over time. The basic components of owners’ equity are paid-in capital and retained earnings. <span>Retained earnings include the cumulative amount of the company’s profits that have been retained in the company. In addition, non-controlling or minority interests and reserves that represent accumulated other comprehensive income items are included in equity. The latter items may be shown separat







#cfa-level-1 #reading-22-financial-statement-analysis-intro
non-controlling or minority interests and reserves that represent accumulated other comprehensive income items are included in equity.

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3.1.3. Statement of Changes in Equity
estment in the business over time. The basic components of owners’ equity are paid-in capital and retained earnings. Retained earnings include the cumulative amount of the company’s profits that have been retained in the company. In addition, <span>non-controlling or minority interests and reserves that represent accumulated other comprehensive income items are included in equity. The latter items may be shown separately or included in retained earnings. Volkswagen includes reserves as components of retained earnings. The statement of changes in equi




Flashcard 1473827966220

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Minority interests and reserves that represent accumulated other comprehensive income items are included in [...] part of the balance sheet.
Answer
equity


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non-controlling or minority interests and reserves that represent accumulated other comprehensive income items are included in equity.

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3.1.3. Statement of Changes in Equity
estment in the business over time. The basic components of owners’ equity are paid-in capital and retained earnings. Retained earnings include the cumulative amount of the company’s profits that have been retained in the company. In addition, <span>non-controlling or minority interests and reserves that represent accumulated other comprehensive income items are included in equity. The latter items may be shown separately or included in retained earnings. Volkswagen includes reserves as components of retained earnings. The statement of changes in equi







#cfa-level-1 #reading-22-financial-statement-analysis-intro
The statement of changes in equity is organized to present for each component, the beginning balance, any increases during the period, any decreases during the period, and the ending balance.

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3.1.3. Statement of Changes in Equity
erves that represent accumulated other comprehensive income items are included in equity. The latter items may be shown separately or included in retained earnings. Volkswagen includes reserves as components of retained earnings. <span>The statement of changes in equity is organized to present, for each component of equity, the beginning balance, any increases during the period, any decreases during the period, and the ending balance. For paid-in capital, an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock. For retained earnings, income (both n




Flashcard 1473834257676

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
The statement of changes in equity is organized to present for each component, the beginning balance, any [...], any [...] , and the ending balance.
Answer
increases and decreases during the period


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The statement of changes in equity is organized to present for each component, the beginning balance, any increases during the period, any decreases during the period, and the ending balance.

Original toplevel document

3.1.3. Statement of Changes in Equity
erves that represent accumulated other comprehensive income items are included in equity. The latter items may be shown separately or included in retained earnings. Volkswagen includes reserves as components of retained earnings. <span>The statement of changes in equity is organized to present, for each component of equity, the beginning balance, any increases during the period, any decreases during the period, and the ending balance. For paid-in capital, an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock. For retained earnings, income (both n







#cfa-level-1 #reading-22-financial-statement-analysis-intro
For paid-in capital, an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock.

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3.1.3. Statement of Changes in Equity
ents of retained earnings. The statement of changes in equity is organized to present, for each component of equity, the beginning balance, any increases during the period, any decreases during the period, and the ending balance. <span>For paid-in capital, an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock. For retained earnings, income (both net income as reported on the income statement and other comprehensive income) is the most common increase and a dividend payment is the most common




Flashcard 1473837665548

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
For [...], an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock.
Answer
paid-in capital


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For paid-in capital, an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock.

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3.1.3. Statement of Changes in Equity
ents of retained earnings. The statement of changes in equity is organized to present, for each component of equity, the beginning balance, any increases during the period, any decreases during the period, and the ending balance. <span>For paid-in capital, an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock. For retained earnings, income (both net income as reported on the income statement and other comprehensive income) is the most common increase and a dividend payment is the most common







#cfa-level-1 #reading-22-financial-statement-analysis-intro

For retained earnings, income is the most common increase and a dividend payment is the most common decrease.

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3.1.3. Statement of Changes in Equity
nce, any increases during the period, any decreases during the period, and the ending balance. For paid-in capital, an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock. <span>For retained earnings, income (both net income as reported on the income statement and other comprehensive income) is the most common increase and a dividend payment is the most common decrease. Volkswagen’s balance sheet in Exhibit 3 shows that equity at the end of 2009 totaled €37,430 million, compared with €37,388 million at the end of 2008. The company’s statem




Flashcard 1473841073420

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question

For retained earnings, income is the most common increase and a [...] is the most common decrease.

Answer
dividend payment


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For retained earnings, income is the most common increase and a dividend payment is the most common decrease.

Original toplevel document

3.1.3. Statement of Changes in Equity
nce, any increases during the period, any decreases during the period, and the ending balance. For paid-in capital, an example of an increase is a new issuance of equity and an example of a decrease is a repurchase of previously issued stock. <span>For retained earnings, income (both net income as reported on the income statement and other comprehensive income) is the most common increase and a dividend payment is the most common decrease. Volkswagen’s balance sheet in Exhibit 3 shows that equity at the end of 2009 totaled €37,430 million, compared with €37,388 million at the end of 2008. The company’s statem







#biochem #biology #cell
The human genome contains 1000 times as many nucleotide pairs as the genome of a typical bacterium

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#biochem #biology #cell
~98.5% of the genome for a human does not code for proteins, as opposed to 11% of the genome for the bacte- rium E. coli

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#biochem #biology #cell
Much of our noncoding DNA is almost certainly dispensable junk, retained like a mass of old papers because, when there is little pressure to keep an archive small, it is easier to retain everything than to sort out the valuable information and discard the rest.

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#biochem #biology #cell
Certain exceptional eukaryotic species, such as the puffer fish, bear witness to the profligacy of their relatives; they have somehow managed to rid themselves of large quantities of noncoding DNA. Yet they appear similar in structure, behavior, and fitness to related species that have vastly more such DNA

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#biochem #biology #cell
The popular choice for this role of minimal model eukaryote has been the yeast Saccharomyces cerevisiae (Figure 1–36)—the same species that is used by brewers of beer and bakers of bread.

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#biochem #biology #cell
The control system that governs this process has been so well conserved over the course of evolution that many of its components can function interchangeably in yeast and human cells: if a mutant yeast lacking an essential yeast cell-division-cycle gene is supplied with a copy of the homologous cell-division-cycle gene from a human, the yeast is cured of its defect and becomes able to divide normall

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#biochem #biology #cell
The complete genome sequence of S. cerevisiae, determined in 1997, consists of approximately 13,117,000 nucleotide pairs, including the small contribution (78,520 nucleotide pairs) of the mitochondrial DNA.

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#biochem #biology #cell
This total (total amount of DNA in yeast) is only about 2.5 times as much DNA as there is in E. coli, and it codes for only 1.5 times as many distinct proteins (about 6600 in all).

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#biochem #biology #cell
bacteria and archaea are separated by perhaps 3.5 billion years of evolution, vertebrates and insects are separated by about 700 million years, fish and mammals by about 450 million years, and the different species of flowering plants by only about 150 mil- lion years

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#biochem #biology #cell
indoors in large numbers and produces thousands of offspring per plant after 8–10 weeks. Arabidopsis has a total genome size of approximately 220 million nucleotide pairs, about 17 times the size of yeast’s

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#biochem #biology #cell
Five species have emerged as the foremost model organisms for molecular genetic studies. In order of increasing size, they are the nematode worm Caenorhabditis elegans, the fly Drosophila melanogaster, the zebrafish Danio rerio, the mouse Mus musculus, and the human, Homo sapiens. Each has had its genome sequenced

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#biochem #biology #cell
Caenorhabditis elegans (Figure 1–39) is a small, harmless relative of the eel- worm that attacks crops. With a life cycle of only a few days, an ability to survive in a freezer indefinitely in a state of suspended animation, a simple body plan, and an unusual life cycle that is well suited for genetic studies (described in Chapter 21), it is an ideal model organism

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#biochem #biology #cell
In more recent times, Drosophila, more than any other organism, has shown us how to trace the chain of cause and effect from the genetic instructions encoded in the chromosomal DNA to the structure of the adult multicellular body

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#biochem #biology #cell
Drosophila requires only 9 days to progress from a fertilized egg to an adult; it is vastly easier and cheaper to breed than any vertebrate, and its genome is much smaller—about 200 million nucleotide pairs, compared with 3200 million for a human. This genome codes for about 15,000 proteins, and mutants can now be obtained for essentially any gene.

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#biochem #biology #cell
paralogs—other genes in the same genome that are unmistakably related and must have arisen by gene dupli- cation.

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#biochem #biology #cell
Frogs have long been used to study the early steps of embryonic development in vertebrates, because their eggs are big, easy to manipulate, and fertilized out- side of the animal, so that the subsequent development of the early embryo is easily followed

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#biochem #biology #cell
The zebrafish Danio rerio has similar advantages, but without this drawback. Its genome is compact—only half as big as that of a mouse or a human—and it has a generation time of only about three months. Many mutants are known, and genetic engineering is relatively easy. The zebrafish has the added virtue that it is transparent for the first two weeks of its life, so that one can watch the behavior of individual cells in the living organism

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#biochem #biology #cell
Mammals have typically two times as many genes as Drosophila, a genome that is 16 times larger, and millions or billions of times as many cells in their adult bodies.

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Article 1473872530700

3.1.4. Cash Flow Statement
#cfa-level-1 #reading-22-financial-statement-analysis-intro

Although the income statement and balance sheet provide measures of a company’s success in terms of performance and financial position, cash flow is also vital to a company’s long-term success. Disclosing the sources and uses of cash helps creditors, investors, and other statement users evaluate the company’s liquidity, solvency, and financial flexibility. Financial flexibility is the ability of the company to react and adapt to financial adversities and opportunities. The cash flow statement classifies all cash flows of the company into three categories: operating, investing, and financing. Cash flows from operating activities are those cash flows not classified as investing or financing and generally involve the cash effects of transactions that enter into the determination of net income and, hence, comprise the day-to-day operations of the company. Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such



#cfa-level-1 #reading-22-financial-statement-analysis-intro
Financial flexibility is the ability of the company to react and adapt to financial adversities and opportunities.

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3.1.4. Cash Flow Statement
inancial position, cash flow is also vital to a company’s long-term success. Disclosing the sources and uses of cash helps creditors, investors, and other statement users evaluate the company’s liquidity, solvency, and financial flexibility. <span>Financial flexibility is the ability of the company to react and adapt to financial adversities and opportunities. The cash flow statement classifies all cash flows of the company into three categories: operating, investing, and financing. Cash flows from operating activities are those cash flows




Flashcard 1473874889996

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] is the ability of the company to react and adapt to financial adversities and opportunities.


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Financial flexibility is the ability of the company to react and adapt to financial adversities and opportunities.

Original toplevel document

3.1.4. Cash Flow Statement
inancial position, cash flow is also vital to a company’s long-term success. Disclosing the sources and uses of cash helps creditors, investors, and other statement users evaluate the company’s liquidity, solvency, and financial flexibility. <span>Financial flexibility is the ability of the company to react and adapt to financial adversities and opportunities. The cash flow statement classifies all cash flows of the company into three categories: operating, investing, and financing. Cash flows from operating activities are those cash flows







#cfa-level-1 #reading-22-financial-statement-analysis-intro
operating activities are those cash flows not classified as investing or financing and generally involve the cash effects of transactions that enter into the determination of net income and, hence, comprise the day-to-day operations of the company.

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3.1.4. Cash Flow Statement
bility is the ability of the company to react and adapt to financial adversities and opportunities. The cash flow statement classifies all cash flows of the company into three categories: operating, investing, and financing. Cash flows from <span>operating activities are those cash flows not classified as investing or financing and generally involve the cash effects of transactions that enter into the determination of net income and, hence, comprise the day-to-day operations of the company. Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment. Cash flows




Flashcard 1473877511436

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] generally involve the cash effects of transactions that enter into the determination of net income and comprise the day-to-day operations of the company.


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operating activities are those cash flows not classified as investing or financing and generally involve the cash effects of transactions that enter into the determination of net income and, hence, comprise

Original toplevel document

3.1.4. Cash Flow Statement
bility is the ability of the company to react and adapt to financial adversities and opportunities. The cash flow statement classifies all cash flows of the company into three categories: operating, investing, and financing. Cash flows from <span>operating activities are those cash flows not classified as investing or financing and generally involve the cash effects of transactions that enter into the determination of net income and, hence, comprise the day-to-day operations of the company. Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment. Cash flows







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment.

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3.1.4. Cash Flow Statement
ng activities are those cash flows not classified as investing or financing and generally involve the cash effects of transactions that enter into the determination of net income and, hence, comprise the day-to-day operations of the company. <span>Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment. Cash flows from financing activities are those cash flows from activities related to obtaining or repaying capital to be used in the business. IFRS permit more flexibility than US GAA




Flashcard 1473880919308

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Cash flows from [...] are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment.
Answer
investing activities


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Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment.

Original toplevel document

3.1.4. Cash Flow Statement
ng activities are those cash flows not classified as investing or financing and generally involve the cash effects of transactions that enter into the determination of net income and, hence, comprise the day-to-day operations of the company. <span>Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment. Cash flows from financing activities are those cash flows from activities related to obtaining or repaying capital to be used in the business. IFRS permit more flexibility than US GAA







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Cash flows from financing activities are those cash flows from activities related to obtaining or repaying capital to be used in the business.

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3.1.4. Cash Flow Statement
ncome and, hence, comprise the day-to-day operations of the company. Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment. <span>Cash flows from financing activities are those cash flows from activities related to obtaining or repaying capital to be used in the business. IFRS permit more flexibility than US GAAP in classifying dividend and interest receipts and payments within these categories. Exhibit 8 presents Volkswagen’s statement of c




Flashcard 1473883540748

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Cash flows from [...] are those cash flows from activities related to obtaining or repaying capital to be used in the business.


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Cash flows from financing activities are those cash flows from activities related to obtaining or repaying capital to be used in the business.

Original toplevel document

3.1.4. Cash Flow Statement
ncome and, hence, comprise the day-to-day operations of the company. Cash flows from investing activities are those cash flows from activities associated with the acquisition and disposal of long-term assets, such as property and equipment. <span>Cash flows from financing activities are those cash flows from activities related to obtaining or repaying capital to be used in the business. IFRS permit more flexibility than US GAAP in classifying dividend and interest receipts and payments within these categories. Exhibit 8 presents Volkswagen’s statement of c







#cfa-level-1 #reading-22-financial-statement-analysis-intro
IFRS permit more flexibility than US GAAP in classifying dividend and interest receipts and payments within these categories.

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3.1.4. Cash Flow Statement
associated with the acquisition and disposal of long-term assets, such as property and equipment. Cash flows from financing activities are those cash flows from activities related to obtaining or repaying capital to be used in the business. <span>IFRS permit more flexibility than US GAAP in classifying dividend and interest receipts and payments within these categories. Exhibit 8 presents Volkswagen’s statement of cash flows for the fiscal years ended 31 December 2009 and 2008. Exhibit 8. Cash Flow Statement of the Volksw




Flashcard 1473886162188

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
[...] permit more flexibility than [...] in classifying dividend and interest receipts and payments within these categories.
Answer
IFRS

US GAAP


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IFRS permit more flexibility than US GAAP in classifying dividend and interest receipts and payments within these categories.

Original toplevel document

3.1.4. Cash Flow Statement
associated with the acquisition and disposal of long-term assets, such as property and equipment. Cash flows from financing activities are those cash flows from activities related to obtaining or repaying capital to be used in the business. <span>IFRS permit more flexibility than US GAAP in classifying dividend and interest receipts and payments within these categories. Exhibit 8 presents Volkswagen’s statement of cash flows for the fiscal years ended 31 December 2009 and 2008. Exhibit 8. Cash Flow Statement of the Volksw







#cfa-level-1 #reading-22-financial-statement-analysis-intro
The direct method of reporting cash flows from operating activities discloses major classes of gross cash receipts and gross cash payments. Examples of such classes are cash received from customers and cash paid to suppliers and employees.

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3.1.4. Cash Flow Statement
rrals, and transactions of an investing and financing nature to arrive at the amount of cash generated from operating activities of €12,741 million. This approach to reporting cash flow from operating activities is termed the indirect method. <span>The direct method of reporting cash flows from operating activities discloses major classes of gross cash receipts and gross cash payments. Examples of such classes are cash received from customers and cash paid to suppliers and employees. The indirect method emphasizes the different perspectives of the income statement and cash flow statement. On the income statement, income is reported when earned, not nece




Flashcard 1473889832204

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Question
The [...] method of reporting cash flows from operating activities discloses major classes of gross cash receipts and gross cash payments.
Answer
direct method

Examples are cash received from customers and cash paid to suppliers and employees.


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The direct method of reporting cash flows from operating activities discloses major classes of gross cash receipts and gross cash payments. Examples of such classes are cash received from customers and c

Original toplevel document

3.1.4. Cash Flow Statement
rrals, and transactions of an investing and financing nature to arrive at the amount of cash generated from operating activities of €12,741 million. This approach to reporting cash flow from operating activities is termed the indirect method. <span>The direct method of reporting cash flows from operating activities discloses major classes of gross cash receipts and gross cash payments. Examples of such classes are cash received from customers and cash paid to suppliers and employees. The indirect method emphasizes the different perspectives of the income statement and cash flow statement. On the income statement, income is reported when earned, not nece







#cfa-level-1 #reading-22-financial-statement-analysis-intro
The indirect method emphasizes the different perspectives of the income statement and cash flow statement. On the income statement, income is reported when earned, not necessarily when cash is received, and expenses are reported when incurred, not necessarily when paid. The cash flow statement presents another aspect of performance: the ability of a company to generate cash flow from running its business.

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3.1.4. Cash Flow Statement
method of reporting cash flows from operating activities discloses major classes of gross cash receipts and gross cash payments. Examples of such classes are cash received from customers and cash paid to suppliers and employees. <span>The indirect method emphasizes the different perspectives of the income statement and cash flow statement. On the income statement, income is reported when earned, not necessarily when cash is received, and expenses are reported when incurred, not necessarily when paid. The cash flow statement presents another aspect of performance: the ability of a company to generate cash flow from running its business. Ideally, for an established company, the analyst would like to see that the primary source of cash flow is from operating activities as opposed to investing or financing activities. &#1




Flashcard 1473893502220

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Which method emphasizes the different perspectives of the income statement and cash flow statement?
Answer
indirect method


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The indirect method emphasizes the different perspectives of the income statement and cash flow statement. On the income statement, income is reported when earned, not necessarily when cash is received, an

Original toplevel document

3.1.4. Cash Flow Statement
method of reporting cash flows from operating activities discloses major classes of gross cash receipts and gross cash payments. Examples of such classes are cash received from customers and cash paid to suppliers and employees. <span>The indirect method emphasizes the different perspectives of the income statement and cash flow statement. On the income statement, income is reported when earned, not necessarily when cash is received, and expenses are reported when incurred, not necessarily when paid. The cash flow statement presents another aspect of performance: the ability of a company to generate cash flow from running its business. Ideally, for an established company, the analyst would like to see that the primary source of cash flow is from operating activities as opposed to investing or financing activities. &#1







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Ideally, for an established company, the analyst would like to see that the primary source of cash flow is from operating activities as opposed to investing or financing activities.

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3.1.4. Cash Flow Statement
t necessarily when cash is received, and expenses are reported when incurred, not necessarily when paid. The cash flow statement presents another aspect of performance: the ability of a company to generate cash flow from running its business. <span>Ideally, for an established company, the analyst would like to see that the primary source of cash flow is from operating activities as opposed to investing or financing activities. The sum of the net cash flows from operating, investing, and financing activities and the effect of exchange rates on cash equals the net change in cash during the fiscal y




Article 1473897958668

3.1.5. Financial Notes and Supplementary Schedules
#cfa-level-1 #reading-22-financial-statement-analysis-intro

The notes (also sometimes referred to as footnotes) that accompany the four financial statements are required and are an integral part of the complete set of financial statements. The notes provide information that is essential to understanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is,



#cfa-level-1 #reading-22-financial-statement-analysis-intro
The notes (also sometimes referred to as footnotes) that accompany the four financial statements are required and are an integral part of the complete set of financial statements.

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3.1.5. Financial Notes and Supplementary Schedules
The notes (also sometimes referred to as footnotes) that accompany the four financial statements are required and are an integral part of the complete set of financial statements. The notes provide information that is essential to understanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 page




#cfa-level-1 #reading-22-financial-statement-analysis-intro
The notes provide information that is essential to understanding the information provided in the primary statements.

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3.1.5. Financial Notes and Supplementary Schedules
The notes (also sometimes referred to as footnotes) that accompany the four financial statements are required and are an integral part of the complete set of financial statements. The notes provide information that is essential to understanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, Volks




Flashcard 1473903201548

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
The notes provide information that is essential to understanding the [...]
Answer
information provided in the primary statements.


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The notes provide information that is essential to understanding the information provided in the primary statements.

Original toplevel document

3.1.5. Financial Notes and Supplementary Schedules
The notes (also sometimes referred to as footnotes) that accompany the four financial statements are required and are an integral part of the complete set of financial statements. The notes provide information that is essential to understanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, Volks







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Volkswagen’s 2009 financial statements, for example, include 91 pages of notes.

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3.1.5. Financial Notes and Supplementary Schedules
at accompany the four financial statements are required and are an integral part of the complete set of financial statements. The notes provide information that is essential to understanding the information provided in the primary statements. <span>Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, Volkswagen discloses in its first note that its fiscal year corresponds to the calend




#biochem #biology #cell
On average, any two people taken at random differ in about one or two in every 1000 nucleotide pairs in their DNA sequence.

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abnormal development
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  1. ABNORMAL
  • What are 5 RFs for developmental delay?
  • FHx, ↓BW, premature, multiple birth, perinatal infection, teratogens, poor nutrition (maternal/child), neglect
  • ASD case given: what is DDx? What referrals would you make?
  • Dx (clinical): 1) deficits in social communication + interaction 2) restricted, repetitive patterns of behaviour/interests/activities
  • DDx: Down syndrome, Fragile X, Angelman, Tuberous sclerosis, untreated PKU
  • Referral: audiology, SLP, OT, behaviours (Erin Oak IBI), social skills training
  • What are 3 problem areas for children who are autistic? What is the Tx?
  • Problems: impaired social functioning, impaired communication skills, impaired adaptive skills, nonfunctional/negative behaviours
  • Tx: early, multidisciplinary intervention, structured learning, SLP, OT, behaviour management, meds (self-injurious/aggressive behaviour), social/vocational training
  • Young ♂ comes to you. Has long face, protuberant ears. On Hx, revealed that there is mental retardation in ♂ + ♀ in the FHx. What is the Dx?
  • MCQ: Fragile X
  • Young ♀ appears dysmorphic at 4mo follow up: large fontanelle, epicentral folds, tongue held sticking out, general hypotonia, simian crease, large broad hands etc. Pick from a list of 8 things you would do to confirm diagnosis and do anticipatory guidance.
  • Dx (Down): 22q11 analysis, FISH for chromosome 21, karyotype, G-banding
  • Ix (AAP): TSH, renal U/S, echo, CT head, CBC and Diff, genetic counselling, atlanto-occipital x-ray at 2 yr, sleep study, hearing test, ophthalmology
  • Anticipatory guidance: relationships/social/behavioural, recurrence, early intervention, CAM, cervical spine, dentition, myopathy, atlantoaxial instability, audiology/ophthalmology, OSA, celiac
  • Newborn brought in by her 42yo ♂ with Down syndrome.
  • 4 clinical findings: upslanting palebral fissures, epicanthic folds, brachycephaly > flat facial profile/bridge, hypotonia
  • 3 Ix: See above
  • Mom concerned about the risk of malignancy, so counsel her about the risk as a newborn and as an older child: newborn (transient myeloproliferative d/o), older (↑risk leukemia/testicular cancer, ↓risk solid mass tumours)

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Lymphadenopathy
Diffuse adenopathy-with or without palpable splenomegaly-is more concerning than an isolated
enlarged node.

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CLIPP 11 - Kawasaki
" This Multimedia material is not included in this Summary, please open Case to review. Hyperlink " Varicella " 4/15 This Multimedia material is not included in this Summary, please open Case to review. <span>Lymphadenopathy Diffuse adenopathy-with or without palpable splenomegaly-is more concerning than an isolated enlarged node. Infectious Causes of Generalized Lymphadenopathy Non-Infectious Causes of Generalized Lymphadenopathy Measles (presents with a marked generalized lymphaden




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Infectious Causes of Generalized Lymphadenopathy
-Measles (presents with a marked generalized
lymphadenopathy and splenomegaly that may last several
weeks)
-Infectious mononucleosis-caused by either Epstein-Barr
virus or cytomegalovirus
-Human immunodeficiency virus (HIV)
-Histoplasmosis
-Toxoplasmosis
-Mycobacteria (can also present as localized
lymphadenopathy)

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CLIPP 11 - Kawasaki
3; Diffuse adenopathy-with or without palpable splenomegaly-is more concerning than an isolated enlarged node. Infectious Causes of Generalized Lymphadenopathy Non-Infectious Causes of Generalized Lymphadenopathy <span>Measles (presents with a marked generalized lymphadenopathy and splenomegaly that may last several weeks) Infectious mononucleosis-caused by either Epstein-Barr virus or cytomegalovirus Human immunodeficiency virus (HIV) Histoplasmosis Toxoplasmosis Mycobacteria (can also present as localized lymphadenopathy) Lymphomas Leukemia Histiocytosis Metastatic neuroblastoma Rhabdomyosarcoma Causes of Unilateral Cervical Lymphadenopathy In addition to Kawasaki




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non-infectious causes of generalized lymphadenopathy:
Lymphomas
Leukemia
Histiocytosis
Metastatic
neuroblastoma
Rhabdomyosarcoma

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CLIPP 11 - Kawasaki
3; Infectious mononucleosis-caused by either Epstein-Barr virus or cytomegalovirus Human immunodeficiency virus (HIV) Histoplasmosis Toxoplasmosis Mycobacteria (can also present as localized lymphadenopathy) <span>Lymphomas Leukemia Histiocytosis Metastatic neuroblastoma Rhabdomyosarcoma Causes of Unilateral Cervical Lymphadenopathy In addition to Kawasaki disease and a reactive node from an oral inflammatory or infectious process, the following can all c




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Causes of Unilateral Cervical Lymphadenopathy
In addition to Kawasaki disease and a reactive node from an oral inflammatory or infectious
process, the following can all cause unilateral cervical lymphadenopathy:
Bacterial
cervical
adenitis
Typically seen in children ages one to five years with a history of a recent
upper respiratory tract infection.
Staphylococcus aureus and Streptococcus pyogenes are the organisms
most commonly identified.
Patients may have high fevers and a toxic appearance.
Overlying cellulitis and development of fluctuance are common.
5/15
Cat scratch
disease
Infections caused by the bacterium Bartonella henselae can be
asymptomatic or symptomatic.
The infection usually is introduced by a scratch from a cat or kitten, with
subsequent infection of the node or nodes draining that site.
The site most commonly involved is the axilla, followed by cervical,
submandibular, and inguinal areas.
Usually a self-limited disease, with regression of the lymph node in four to
six weeks.
Mycobacterial
infection
Mycobacterial infections can cause diffuse lymphadenopathy or isolated
lymphadenitis.
Lymphadenitis is the most common manifestation of nontuberculous
mycobacteria in children, with a peak age of presentation of 2 to 4 years.
Tuberculosis is the most common cause of mycobacterial lymphadenitis in
children over 12 years of age.
Children with these infections usually appear well with minimal if any
constitutional signs and symptoms.
The overlying skin may be erythematous initially, but left untreated often
becomes violaceous as the nodes enlarge.
Nodes may rupture through the skin, resulting in a draining sinus tract.
Treatment is surgical excision, as incision and drainage can also result in a
sinus tract.

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CLIPP 11 - Kawasaki
deficiency virus (HIV) Histoplasmosis Toxoplasmosis Mycobacteria (can also present as localized lymphadenopathy) Lymphomas Leukemia Histiocytosis Metastatic neuroblastoma Rhabdomyosarcoma <span>Causes of Unilateral Cervical Lymphadenopathy In addition to Kawasaki disease and a reactive node from an oral inflammatory or infectious process, the following can all cause unilateral cervical lymphadenopathy: Bacterial cervical adenitis Typically seen in children ages one to five years with a history of a recent upper respiratory tract infection. Staphylococcus aureus and Streptococcus pyogenes are the organisms most commonly identified. Patients may have high fevers and a toxic appearance. Overlying cellulitis and development of fluctuance are common. 5/15 Cat scratch disease Infections caused by the bacterium Bartonella henselae can be asymptomatic or symptomatic. The infection usually is introduced by a scratch from a cat or kitten, with subsequent infection of the node or nodes draining that site. The site most commonly involved is the axilla, followed by cervical, submandibular, and inguinal areas. Usually a self-limited disease, with regression of the lymph node in four to six weeks. Mycobacterial infection Mycobacterial infections can cause diffuse lymphadenopathy or isolated lymphadenitis. Lymphadenitis is the most common manifestation of nontuberculous mycobacteria in children, with a peak age of presentation of 2 to 4 years. Tuberculosis is the most common cause of mycobacterial lymphadenitis in children over 12 years of age. Children with these infections usually appear well with minimal if any constitutional signs and symptoms. The overlying skin may be erythematous initially, but left untreated often becomes violaceous as the nodes enlarge. Nodes may rupture through the skin, resulting in a draining sinus tract. Treatment is surgical excision, as incision and drainage can also result in a sinus tract. Strawberry Tongue "Strawberry tongue," an erythematous tongue with prominent papillae, is a characteristic finding of: Streptococcal pharyngitis Kawasaki d




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Strawberry Tongue
"Strawberry tongue," an erythematous tongue with prominent papillae, is a characteristic finding of:
Streptococcal pharyngitis
Kawasaki disease
Toxic shock syndrome
Though this finding can be seen in infectious mononucleosis, it is usually in the presence of a
concomitant streptococcal pharyngitis.

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CLIPP 11 - Kawasaki
reated often becomes violaceous as the nodes enlarge. Nodes may rupture through the skin, resulting in a draining sinus tract. Treatment is surgical excision, as incision and drainage can also result in a sinus tract. <span>Strawberry Tongue "Strawberry tongue," an erythematous tongue with prominent papillae, is a characteristic finding of: Streptococcal pharyngitis Kawasaki disease Toxic shock syndrome Though this finding can be seen in infectious mononucleosis, it is usually in the presence of a concomitant streptococcal pharyngitis. Hyperlink "Strawberry tongue, " This Multimedia material is not included in this Summary, please open Case to review. Diagnostic Criteria for Kawasaki Disease&#




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Diagnostic Criteria for Kawasaki Disease
In addition to high fever for at least five days, four of the following five criteria are needed for a
diagnosis of Kawasaki disease:
Changes in oral mucosa
Extremity changes (redness/swelling)
Unilateral cervical lymphadenopathy
Rash
Conjunctivitis
The one least likely to be present is cervical adenopathy.
The final criterion is that there is no other apparent cause for the presentation (i.e., a child
presenting with an obvious site of infection, even if meeting all criteria for Kawasaki, cannot be
given the diagnosis).
Though irritability is very common, it is not part of the diagnostic criteria.

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CLIPP 11 - Kawasaki
#13; concomitant streptococcal pharyngitis. Hyperlink "Strawberry tongue, " This Multimedia material is not included in this Summary, please open Case to review. Diagnostic Criteria for Kawasaki Disease 6/15 <span>Diagnostic Criteria for Kawasaki Disease In addition to high fever for at least five days, four of the following five criteria are needed for a diagnosis of Kawasaki disease: Changes in oral mucosa Extremity changes (redness/swelling) Unilateral cervical lymphadenopathy Rash Conjunctivitis The one least likely to be present is cervical adenopathy. The final criterion is that there is no other apparent cause for the presentation (i.e., a child presenting with an obvious site of infection, even if meeting all criteria for Kawasaki, cannot be given the diagnosis). Though irritability is very common, it is not part of the diagnostic criteria. Complications of Kawasaki Disease The complications associated with Kawasaki disease-and the approximate percentages of patients who develop these complications-are as fo




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Complications of Kawasaki Disease
The complications associated with Kawasaki disease-and the approximate percentages of
patients who develop these complications-are as follows:
Complication
Percentage of KD Patients Who
Experience
Central nervous system manifestations (including irritability,
lethargy, aseptic meningitis)
90%
Coronary artery aneurysm 20-25% of untreated patients
Liver dysfunction 40%
Arthritis 30%
Hydrops of the gallbladder 10%
Of these, the greatest risk is the development of coronary aneurysms. The main purpose of
treatment is to minimize this risk.
Timing
Aneurysms may be present by the end of the first week, but usually present later, almost always
within four weeks of the onset of the disease.
Monitoring
7/15
All patients should receive an echocardiogram during the acute phase, both to look for the
presence of aneurysms and to provide a baseline for future comparison.

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CLIPP 11 - Kawasaki
ntation (i.e., a child presenting with an obvious site of infection, even if meeting all criteria for Kawasaki, cannot be given the diagnosis). Though irritability is very common, it is not part of the diagnostic criteria. <span>Complications of Kawasaki Disease The complications associated with Kawasaki disease-and the approximate percentages of patients who develop these complications-are as follows: Complication Percentage of KD Patients Who Experience Central nervous system manifestations (including irritability, lethargy, aseptic meningitis) 90% Coronary artery aneurysm 20-25% of untreated patients Liver dysfunction 40% Arthritis 30% Hydrops of the gallbladder 10% Of these, the greatest risk is the development of coronary aneurysms. The main purpose of treatment is to minimize this risk. Timing Aneurysms may be present by the end of the first week, but usually present later, almost always within four weeks of the onset of the disease. Monitoring 7/15 All patients should receive an echocardiogram during the acute phase, both to look for the presence of aneurysms and to provide a baseline for future comparison. Clinical Skills Dermatologic Nomenclature The following are terms that are commonly used to describe rashes with accuracy: Macule Flat, discolored spot Papule S




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Dermatologic Nomenclature
The following are terms that are commonly used to describe rashes with accuracy:
Macule Flat, discolored spot
Papule Small, well-defined solid bump
Vesicle Small, well-defined, fluid-containing bump
Pustule Small, well-defined bump containing purulent material
Plaque Small, raised, differentiated patch or area on a body surface
Desquamation Shedding of the outer layer of skin surface

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CLIPP 11 - Kawasaki
et of the disease. Monitoring 7/15 All patients should receive an echocardiogram during the acute phase, both to look for the presence of aneurysms and to provide a baseline for future comparison. Clinical Skills <span>Dermatologic Nomenclature The following are terms that are commonly used to describe rashes with accuracy: Macule Flat, discolored spot Papule Small, well-defined solid bump Vesicle Small, well-defined, fluid-containing bump Pustule Small, well-defined bump containing purulent material Plaque Small, raised, differentiated patch or area on a body surface Desquamation Shedding of the outer layer of skin surface Clinical Reasoning Differential Diagnosis for a Child with Fever and a Rash Disease Description Typical features from H&P Systemic-onset juvenile idiopathic




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Differential Diagnosis for a Child with Fever and a Rash
Disease Description Typical features from H&P
Systemic-onset
juvenile idiopathic
arthritis (JIA)
One of a group of
common rheumatic
diseases subdivided into:
Oligoarthritis (or
pauciarticular
disease),
Polyarthritis, or
Systemic-onset
disease (also called
Still's disease)
Prolonged fever could suggest Still's
disease
Rash
Arthritis (although active arthritis in Still's
disease often presents months to years
after onset)
Visceral involvement
(e.g., hepatosplenomegaly,
lymphadenitis, serositis)
8/15
Kawasaki disease Vasculitis
Fever > 5 days
Nonpurulent conjunctivitis (may have
cleared prior to presentation)
Rash
Swelling and erythema of extremities
Osteomyelitis/septic
joint
Bacterial infection (80%
of cases occur in the
lower extremities)
Low-grade fever
Painful walking (if in lower extremity)
Rocky Mountain
spotted fever
(RMSF)
Tick-borne bacterial
infection (Rickettsia
rickettsii)
Fever
Headache
Rash (typically starts on ankles and
wrists and progresses centrally and to
palms and soles*; may be maculopapular
at first, quickly becoming petechial; in 5%
of cases, there may be no rash)
Myalgias
*Other causes of rash involving palms and
soles: Kawasaki disease, enteroviruses,
syphilis.
Scarlet fever Group A Streptococcus
infection
Fever (generally < 5 days)
A diffuse, erythematous, finely papular
rash (described as having a "sandpaper"
texture) is pathognomonic
Rash often begins at neck, axillae, and
groin and then spreads over trunk and
extremities, typically resolving within four
or five days
Stevens-Johnson
syndrome
A mucocutaneous
disorder caused by a
hypersensitivity reaction
to medications,
infections, or other
illnesses
Severe, pruritic rash (erythema
multiforme)
Fever (not expected to last 7 days)
Mucosal changes (e.g., stomatitis)
Conjunctivitis
9/15
Viral syndrome
(enterovirus)
Covers wide variety of
viral infections
Fever lasting 3-5 days (but not a
prolonged high fever)
Non-descript rash (enteroviruses can
cause rash on palms and soles)
Rash is not painful and should not cause
refusal to walk

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CLIPP 11 - Kawasaki
ining bump Pustule Small, well-defined bump containing purulent material Plaque Small, raised, differentiated patch or area on a body surface Desquamation Shedding of the outer layer of skin surface Clinical Reasoning <span>Differential Diagnosis for a Child with Fever and a Rash Disease Description Typical features from H&P Systemic-onset juvenile idiopathic arthritis (JIA) One of a group of common rheumatic diseases subdivided into: Oligoarthritis (or pauciarticular disease), Polyarthritis, or Systemic-onset disease (also called Still's disease) Prolonged fever could suggest Still's disease Rash Arthritis (although active arthritis in Still's disease often presents months to years after onset) Visceral involvement (e.g., hepatosplenomegaly, lymphadenitis, serositis) 8/15 Kawasaki disease Vasculitis Fever > 5 days Nonpurulent conjunctivitis (may have cleared prior to presentation) Rash Swelling and erythema of extremities Osteomyelitis/septic joint Bacterial infection (80% of cases occur in the lower extremities) Low-grade fever Painful walking (if in lower extremity) Rocky Mountain spotted fever (RMSF) Tick-borne bacterial infection (Rickettsia rickettsii) Fever Headache Rash (typically starts on ankles and wrists and progresses centrally and to palms and soles*; may be maculopapular at first, quickly becoming petechial; in 5% of cases, there may be no rash) Myalgias *Other causes of rash involving palms and soles: Kawasaki disease, enteroviruses, syphilis. Scarlet fever Group A Streptococcus infection Fever (generally < 5 days) A diffuse, erythematous, finely papular rash (described as having a "sandpaper" texture) is pathognomonic Rash often begins at neck, axillae, and groin and then spreads over trunk and extremities, typically resolving within four or five days Stevens-Johnson syndrome A mucocutaneous disorder caused by a hypersensitivity reaction to medications, infections, or other illnesses Severe, pruritic rash (erythema multiforme) Fever (not expected to last 7 days) Mucosal changes (e.g., stomatitis) Conjunctivitis 9/15 Viral syndrome (enterovirus) Covers wide variety of viral infections Fever lasting 3-5 days (but not a prolonged high fever) Non-descript rash (enteroviruses can cause rash on palms and soles) Rash is not painful and should not cause refusal to walk Differential for Erythema, Pain, and Swelling of an Extremity Consider arthritis if the pain and swelling involves a joint. Cellulitis should also be considered, unless m




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Differential for Erythema, Pain, and Swelling of an Extremity
Consider arthritis if the pain and swelling involves a joint.
Cellulitis should also be considered, unless multiple extremities are involved.

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CLIPP 11 - Kawasaki
y of viral infections Fever lasting 3-5 days (but not a prolonged high fever) Non-descript rash (enteroviruses can cause rash on palms and soles) Rash is not painful and should not cause refusal to walk <span>Differential for Erythema, Pain, and Swelling of an Extremity Consider arthritis if the pain and swelling involves a joint. Cellulitis should also be considered, unless multiple extremities are involved. Studies Evaluation of Kawasaki Disease CBC with differential A CBC with differential will help evaluate for possible infection or inflammatory response. It is also&#




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Evaluation of Kawasaki Disease
CBC with differential
A CBC with differential will help evaluate for possible infection or inflammatory response. It is also
useful to evaluate for possible anemia, thrombocytopenia or thrombocytosis, any of which could be
present in this patient. Typical CBC findings in a patient with Kawasaki disease:
WBC: The white blood count is usually elevated, with a predominance of neutrophils.
Hbg/Hct: A normochromic, normocytic anemia is common.
MCV: The MCV is usually normal.
Platelets: The markedly elevated platelet count associated with Kawasaki disease is usually
not seen until the second week of the illness.
Blood culture
Although the clinical course is long for a bacteremic illnesses, the height of the fever and the
clinical appearance of the patient justify obtaining a culture.
Liver enzymes
Liver enzymes can be elevated in a number of conditions on the differential, including both
Kawasaki disease and Stevens-Johnson syndrome. Although this is an important test to obtain, it
is of little benefit in narrowing your diagnosis in this case. Serum albumin level is frequently low in
Kawasaki disease.
10/15
Acute phase reactants
There is great debate in the role of acute phase reactants (erythrocyte sedimentation rate [ESR] or
C-reactive protein [CRP]). Their lack of specificity limits their utility for diagnostic purposes, though
they can lend support for and against some diagnoses. They frequently play a more useful role in
following a disease process.
In this case, a negative ESR would argue strongly against Kawasaki disease. The persistence of
an elevated ESR after the fever has subsided can help to distinguish Kawasaki disease from other
infectious rash/fever illnesses.
Urinalysis
A sterile pyuria, secondary to a sterile urethritis, is associated with Kawasaki disease. A cleancatch
urine is likely to show white cells, whereas a catheterized urine may not (because the white
cells come from the urethra).

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CLIPP 11 - Kawasaki
walk Differential for Erythema, Pain, and Swelling of an Extremity Consider arthritis if the pain and swelling involves a joint. Cellulitis should also be considered, unless multiple extremities are involved. Studies <span>Evaluation of Kawasaki Disease CBC with differential A CBC with differential will help evaluate for possible infection or inflammatory response. It is also useful to evaluate for possible anemia, thrombocytopenia or thrombocytosis, any of which could be present in this patient. Typical CBC findings in a patient with Kawasaki disease: WBC: The white blood count is usually elevated, with a predominance of neutrophils. Hbg/Hct: A normochromic, normocytic anemia is common. MCV: The MCV is usually normal. Platelets: The markedly elevated platelet count associated with Kawasaki disease is usually not seen until the second week of the illness. Blood culture Although the clinical course is long for a bacteremic illnesses, the height of the fever and the clinical appearance of the patient justify obtaining a culture. Liver enzymes Liver enzymes can be elevated in a number of conditions on the differential, including both Kawasaki disease and Stevens-Johnson syndrome. Although this is an important test to obtain, it is of little benefit in narrowing your diagnosis in this case. Serum albumin level is frequently low in Kawasaki disease. 10/15 Acute phase reactants There is great debate in the role of acute phase reactants (erythrocyte sedimentation rate [ESR] or C-reactive protein [CRP]). Their lack of specificity limits their utility for diagnostic purposes, though they can lend support for and against some diagnoses. They frequently play a more useful role in following a disease process. In this case, a negative ESR would argue strongly against Kawasaki disease. The persistence of an elevated ESR after the fever has subsided can help to distinguish Kawasaki disease from other infectious rash/fever illnesses. Urinalysis A sterile pyuria, secondary to a sterile urethritis, is associated with Kawasaki disease. A cleancatch urine is likely to show white cells, whereas a catheterized urine may not (because the white cells come from the urethra). Management Diagnosis and Treatment of Group A Streptococcus Pharyngitis Pharyngitis secondary to group A beta-hemolytic Streptococcus (Streptococcus pyogenes) (GAS)




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Diagnosis and Treatment of Group A Streptococcus Pharyngitis
Pharyngitis secondary to group A beta-hemolytic Streptococcus (Streptococcus pyogenes) (GAS)
is a common pediatric infection. Though the acute illness is usually self-limited, diagnosis and
treatment are important to prevent potential serious sequelae, especially rheumatic fever.
Diagnosis
Patients in whom the diagnosis is suspected should have diagnostic testing performed.
A "rapid strep" test detects a streptococcal antigen from a throat swab obtained by swabbing
the tonsils and posterior pharynx. This test is highly specific, but there is variable sensitivity.
A positive rapid strep test generally does not require any further laboratory confirmation;
however, a negative result should be confirmed by standard throat culture.
Initiating Antibiotics
Ideally, there should be documentation of infection with GAS prior to initiating antibiotics. However,
some physicians will treat patients with antibiotics based on a clinical diagnosis of GAS pending
results of the culture. Others will wait for culture results in the setting of a negative rapid strep test.
Appropriate antibiotics started within nine days from the start of the acute illness will prevent acute
rheumatic fever.
11/15
Antibiotic Selection
Although penicillin is the drug of choice for GAS pharyngitis, the suspension form does not have a
pleasant taste. Therefore, many physicians opt for oral amoxicillin, which is more palatable.
In a child who refuses oral medications or when adherence to a 10-day regimen will be difficult for
the family, a single intramuscular injection of penicillin may be the best option.

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CLIPP 11 - Kawasaki
ia, secondary to a sterile urethritis, is associated with Kawasaki disease. A cleancatch urine is likely to show white cells, whereas a catheterized urine may not (because the white cells come from the urethra). Management <span>Diagnosis and Treatment of Group A Streptococcus Pharyngitis Pharyngitis secondary to group A beta-hemolytic Streptococcus (Streptococcus pyogenes) (GAS) is a common pediatric infection. Though the acute illness is usually self-limited, diagnosis and treatment are important to prevent potential serious sequelae, especially rheumatic fever. Diagnosis Patients in whom the diagnosis is suspected should have diagnostic testing performed. A "rapid strep" test detects a streptococcal antigen from a throat swab obtained by swabbing the tonsils and posterior pharynx. This test is highly specific, but there is variable sensitivity. A positive rapid strep test generally does not require any further laboratory confirmation; however, a negative result should be confirmed by standard throat culture. Initiating Antibiotics Ideally, there should be documentation of infection with GAS prior to initiating antibiotics. However, some physicians will treat patients with antibiotics based on a clinical diagnosis of GAS pending results of the culture. Others will wait for culture results in the setting of a negative rapid strep test. Appropriate antibiotics started within nine days from the start of the acute illness will prevent acute rheumatic fever. 11/15 Antibiotic Selection Although penicillin is the drug of choice for GAS pharyngitis, the suspension form does not have a pleasant taste. Therefore, many physicians opt for oral amoxicillin, which is more palatable. In a child who refuses oral medications or when adherence to a 10-day regimen will be difficult for the family, a single intramuscular injection of penicillin may be the best option. Treatment of Kawasaki Disease Aspirin and intravenous immune globulin (IVIG) have been the standard therapy for Kawasaki disease for many years. Aspirin High-do




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Treatment of Kawasaki Disease
Aspirin and intravenous immune globulin (IVIG) have been the standard therapy for Kawasaki
disease for many years.
Aspirin
High-dose aspirin (80-100 mg/kg/day, divided into four doses) is administered for its antiinflammatory
properties.
Aspirin shortens the febrile course of the illness but has no effect on the development of
aneurysm.
Following defervescence, low-dose aspirin (3-5 mg/kg/day given in a single dose) is
administered for its anti-platelet effects.
Aspirin is discontinued altogether after a total of six to eight weeks if no coronary artery
changes are seen in follow-up echocardiograms. If there are coronary artery abnormalities,
low dose aspirin is continued indefinitely as an anti-platelet agent.
Aspirin and Reye syndrome: Children taking aspirin are at risk for experiencing Reye syndrome (a
potentially fatal illness that causes multi-organ damage) if infected with certain viruses, including
influenza virus A or B; therefore, physicians should be particularly vigilant about recommending
influenza vaccination for children receiving long-term aspirin therapy.
IVIG
The use of IVIG in Kawasaki disease has decreased the incidence of coronary artery
aneurysms from 20-25% to 2-4%.
A single dose of IVIG at a dose of 2 g/kg administered over ten to twelve hours has been
shown to be more effective in reducing the risk of coronary artery aneurysms than multiple
lower doses
Other antipyretics are usually not effective for fever control. Furthermore, use of ibuprofen has been
shown to antagonize the irreversible platelet inhibition induced by aspirin and therefore should be
avoided in children with coronary aneurysms taking aspirin for its antiplatelet effects.
Antibiotics have not been shown to have any effect on the clinical course.
The role of steroids is unclear. For years, steroids were felt to have no role, or even to be
12/15
detrimental. Newer studies suggest that they may have a role in the acute management, and
additional information is needed

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CLIPP 11 - Kawasaki
r oral amoxicillin, which is more palatable. In a child who refuses oral medications or when adherence to a 10-day regimen will be difficult for the family, a single intramuscular injection of penicillin may be the best option. <span>Treatment of Kawasaki Disease Aspirin and intravenous immune globulin (IVIG) have been the standard therapy for Kawasaki disease for many years. Aspirin High-dose aspirin (80-100 mg/kg/day, divided into four doses) is administered for its antiinflammatory properties. Aspirin shortens the febrile course of the illness but has no effect on the development of aneurysm. Following defervescence, low-dose aspirin (3-5 mg/kg/day given in a single dose) is administered for its anti-platelet effects. Aspirin is discontinued altogether after a total of six to eight weeks if no coronary artery changes are seen in follow-up echocardiograms. If there are coronary artery abnormalities, low dose aspirin is continued indefinitely as an anti-platelet agent. Aspirin and Reye syndrome: Children taking aspirin are at risk for experiencing Reye syndrome (a potentially fatal illness that causes multi-organ damage) if infected with certain viruses, including influenza virus A or B; therefore, physicians should be particularly vigilant about recommending influenza vaccination for children receiving long-term aspirin therapy. IVIG The use of IVIG in Kawasaki disease has decreased the incidence of coronary artery aneurysms from 20-25% to 2-4%. A single dose of IVIG at a dose of 2 g/kg administered over ten to twelve hours has been shown to be more effective in reducing the risk of coronary artery aneurysms than multiple lower doses Other antipyretics are usually not effective for fever control. Furthermore, use of ibuprofen has been shown to antagonize the irreversible platelet inhibition induced by aspirin and therefore should be avoided in children with coronary aneurysms taking aspirin for its antiplatelet effects. Antibiotics have not been shown to have any effect on the clinical course. The role of steroids is unclear. For years, steroids were felt to have no role, or even to be 12/15 detrimental. Newer studies suggest that they may have a role in the acute management, and additional information is needed Follow-up Care for Kawasaki Disease Early cardiology follow-up with a repeat echocardiogram is needed. In Kawasaki disease, if coronary artery aneurysms develop, they usu




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Follow-up Care for Kawasaki Disease
Early cardiology follow-up with a repeat echocardiogram is needed. In Kawasaki disease, if
coronary artery aneurysms develop, they usually do so within four weeks of the acute illness, so a
follow-up visit at one to two weeks is recommended.

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CLIPP 11 - Kawasaki
The role of steroids is unclear. For years, steroids were felt to have no role, or even to be 12/15 detrimental. Newer studies suggest that they may have a role in the acute management, and additional information is needed <span>Follow-up Care for Kawasaki Disease Early cardiology follow-up with a repeat echocardiogram is needed. In Kawasaki disease, if coronary artery aneurysms develop, they usually do so within four weeks of the acute illness, so a follow-up visit at one to two weeks is recommended. Anticipatory Guidance for Kawasaki Disease Aspirin Children are typically prescribed a low dose of aspirin to be taken for six to eight weeks. Since aspirin can caus




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Anticipatory Guidance for Kawasaki Disease
Aspirin
Children are typically prescribed a low dose of aspirin to be taken for six to eight weeks.
Since aspirin can cause gastrointestinal bleeding and other problems, parents should watch
for warning signs, such as a stomachache or blood in the stool.
Aspirin can cause children to bruise easily, so certain activities should be avoided.
Parents should also make sure the child is not exposed to anyone with the flu or chicken pox
to avoid the risk of Reye's syndrome, which has been linked to aspirin use in these illnesses.
Influenza vaccine
Children should receive the flu vaccine.
Anti-inflammatories
The arthritis from Kawasaki's disease is always temporary, but can be uncomfortable.
If a child is having difficulty walking or is in pain, the physician may prescribe an antiinflammatory
medication.
Physical therapy may also be helpful, or parents may receive a list of exercises to do at
home.
Monitor for fever
If the child has symptoms of fever, parents should take their child's temperature and alert their
physician.

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CLIPP 11 - Kawasaki
gy follow-up with a repeat echocardiogram is needed. In Kawasaki disease, if coronary artery aneurysms develop, they usually do so within four weeks of the acute illness, so a follow-up visit at one to two weeks is recommended. <span>Anticipatory Guidance for Kawasaki Disease Aspirin Children are typically prescribed a low dose of aspirin to be taken for six to eight weeks. Since aspirin can cause gastrointestinal bleeding and other problems, parents should watch for warning signs, such as a stomachache or blood in the stool. Aspirin can cause children to bruise easily, so certain activities should be avoided. Parents should also make sure the child is not exposed to anyone with the flu or chicken pox to avoid the risk of Reye's syndrome, which has been linked to aspirin use in these illnesses. Influenza vaccine Children should receive the flu vaccine. Anti-inflammatories The arthritis from Kawasaki's disease is always temporary, but can be uncomfortable. If a child is having difficulty walking or is in pain, the physician may prescribe an antiinflammatory medication. Physical therapy may also be helpful, or parents may receive a list of exercises to do at home. Monitor for fever If the child has symptoms of fever, parents should take their child's temperature and alert their physician. References Diagnostic Standards and Classification of Tuberculosis in Adults and Children. Official Statement 13/15 of the American Thoracic Society and the Centers




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A good approach to
pediatric vital signs is to keep an approximate normal value in mind, and to always
interpret vitals based on the clinical context. For example, in a toxic-appearing child, an
elevated HR or RR would be suggestive of sepsis, but those same vital signs may be
normal in a child who is scared or agitated.

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Approach to Pediatric Vital Signs
pediatric vital signs may need to be updated, but for now current reference ranges are used in practice and in resuscitation protocols. All values referenced in this podcast come from the Pediatric Advanced Life Support guidelines. <span>A good approach to pediatric vital signs is to keep an approximate normal value in mind, and to always interpret vitals based on the clinical context. For example, in a toxic-appearing child, an elevated HR or RR would be suggestive of sepsis, but those same vital signs may be normal in a child who is scared or agitated. Heart Rate Measuring a pulse is one of the oldest physical exam techniques with reports dating back to Ancient Egypt in 3500 BC where physicians would use the pulse as a




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The HR can be determined by feeling a peripheral pulse, or by direct
auscultation of the heart to determine an apical rate. For accurate measurement, you
can count the pulse for 30 seconds and then multiply this number by two. You may also
get the heart rate from an external monitor, pulse oximeter or blood pressure machine,
but you can gain additional information by feeling the strength, contour and regularity of
a pulse. A heart rate should be measured when a patient is either at rest or asleep.
Separate reference ranges exist for children who are awake and sleeping.
Trends with Age: Resting heart rate is fastest in infants and decreases with age. A
normal HR for an awake, healthy term newborn is between 85 and 205 bpm. As a child
gets older, their HR will slowly decrease until age 10 where it approximately reaches
normal adult values. A normal HR for a child older than 10 years is between 60 and
100 bpm.
Tachycardia, or an elevated heartrate could suggest a cardiac arrhythmia, hypovolemia,
a metabolic disturbance, infection or more. Sinus bradycardia during sleep is very
common in infants and children; as long as they are pink and well perfused there is
rarely cause for worry. Children with bradycardia during awake periods should be
evaluated for an underlying abnormality to the heart’s conduction system such as a third
degree heart block

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Approach to Pediatric Vital Signs
dating back to Ancient Egypt in 3500 BC where physicians would use the pulse as a sign of advancing disease. The heart rate is of equal importance today and can tell us much about a patient’s clinical status. Measurement: <span>The HR can be determined by feeling a peripheral pulse, or by direct auscultation of the heart to determine an apical rate. For accurate measurement, you can count the pulse for 30 seconds and then multiply this number by two. You may also get the heart rate from an external monitor, pulse oximeter or blood pressure machine, but you can gain additional information by feeling the strength, contour and regularity of a pulse. A heart rate should be measured when a patient is either at rest or asleep. Separate reference ranges exist for children who are awake and sleeping. Trends with Age: Resting heart rate is fastest in infants and decreases with age. A normal HR for an awake, healthy term newborn is between 85 and 205 bpm. As a child gets older, their HR will slowly decrease until age 10 where it approximately reaches normal adult values. A normal HR for a child older than 10 years is between 60 and 100 bpm. Tachycardia, or an elevated heartrate could suggest a cardiac arrhythmia, hypovolemia, a metabolic disturbance, infection or more. Sinus bradycardia during sleep is very common in infants and children; as long as they are pink and well perfused there is rarely cause for worry. Children with bradycardia during awake periods should be evaluated for an underlying abnormality to the heart’s conduction system such as a third degree heart block. Respiratory Rate The respiratory rate is unique in that is the one vital sign that we can consciously control. A person can hold their breath, or purposefully breathe fa




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Trends with Age: Respiratory rate is fastest in newborns and decreases with age. A
normal resting respiratory rate in an infant less than one year ranges from 30 to 60 bpm.
Over time respiratory rate gradually decreases, and reaches approximately normal adult
ranges by about age 13. A normal resting respiratory rate in an adolescent is 12 to 16
bpm.
Tachypnea, or an elevated RR, is a sign of respiratory distress and is the body’s
physiologic response to hypoxemia, hypercarbia or pyrexia. The differential for
tachypnea is large, but includes pulmonary conditions such as
infection/inflammation/obstruction of the airways, trauma or pneumothorax. Nonpulmonary
causes of tachypnea include cyanotic heart disease, heart failure with
pulmonary edema, metabolic acidosis or severe anemia. Bradypnea in children is rare,
but usually suggests a central lesion, such as a central nervous system insult or
intoxication like an opioid overdose.

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Approach to Pediatric Vital Signs
the Developed by Chris Novak, Dr. Mel Lewis and Dr. Peter Gill for pedscases.com February 15, 2015 bedside, especially in young children. This prevents children from breathing abnormally when they are being watched. <span>Trends with Age: Respiratory rate is fastest in newborns and decreases with age. A normal resting respiratory rate in an infant less than one year ranges from 30 to 60 bpm. Over time respiratory rate gradually decreases, and reaches approximately normal adult ranges by about age 13. A normal resting respiratory rate in an adolescent is 12 to 16 bpm. Tachypnea, or an elevated RR, is a sign of respiratory distress and is the body’s physiologic response to hypoxemia, hypercarbia or pyrexia. The differential for tachypnea is large, but includes pulmonary conditions such as infection/inflammation/obstruction of the airways, trauma or pneumothorax. Nonpulmonary causes of tachypnea include cyanotic heart disease, heart failure with pulmonary edema, metabolic acidosis or severe anemia. Bradypnea in children is rare, but usually suggests a central lesion, such as a central nervous system insult or intoxication like an opioid overdose. Blood Pressure Blood pressure is defined as the pressure exerted by circulating blood on the walls of blood vessels. Pressure in a vessel rises and falls with each heartb




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Trends with Age: Unlike other vital signs, blood pressure starts low and increases with
age. The normal ranges for blood pressure depend on a child’s age, gender, and height,
but here are some good numbers to remember. In a term neonate, systolic blood
pressure should be higher than 60 mm Hg. In a child aged 1 to 10 years, the minimum
systolic blood pressure can be determined using the formula 70 + (age in years x 2).
For example, the minimum systolic pressure for an 8 year old would be 70 + (8 years x
2) = 86 mm Hg. For children older than 10, systolic blood pressure should be higher
than 90. For precise determination of a child’s blood pressure percentile, as is needed
to diagnose hypertension, specific reference ranges are available from the National
High Blood Pressure Education Program Working Group. You can also calculate the
child’s percentile using medical calculator apps.
Hypotension, or abnormally low blood pressure is a very late sign of shock in children,
including hypovolemic, septic, distributive and cardiogenic shock. Unlike adults, children
compensate during shock and maintain an adequate blood pressure; hypotension is an
ominous sign of impending deterioration. Hypertension can be suggestive of a number
of problems including renal disease, coarctation of the aorta, endocrine disorders,
medication side effects, intoxications and increased intracranial pressure.

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Approach to Pediatric Vital Signs
eezed by a stranger. If accurate measurement is not essential, you can get an approximation of the systolic pressure by quickly inflating to the point where you occlude the radial pulse, and then quickly releasing the pressure. <span>Trends with Age: Unlike other vital signs, blood pressure starts low and increases with age. The normal ranges for blood pressure depend on a child’s age, gender, and height, but here are some good numbers to remember. In a term neonate, systolic blood pressure should be higher than 60 mm Hg. In a child aged 1 to 10 years, the minimum systolic blood pressure can be determined using the formula 70 + (age in years x 2). For example, the minimum systolic pressure for an 8 year old would be 70 + (8 years x 2) = 86 mm Hg. For children older than 10, systolic blood pressure should be higher than 90. For precise determination of a child’s blood pressure percentile, as is needed to diagnose hypertension, specific reference ranges are available from the National High Blood Pressure Education Program Working Group. You can also calculate the child’s percentile using medical calculator apps. Hypotension, or abnormally low blood pressure is a very late sign of shock in children, including hypovolemic, septic, distributive and cardiogenic shock. Unlike adults, children compensate during shock and maintain an adequate blood pressure; hypotension is an ominous sign of impending deterioration. Hypertension can be suggestive of a number of problems including renal disease, coarctation of the aorta, endocrine disorders, medication side effects, intoxications and increased intracranial pressure. Temperature Temperature is the last of the four traditional vital signs and is a key measurement when working with infection. Measurement: Temperature varies conside




#ir #peds
Rectal temperatures
are the preferred method for infants and young children, however this is uncomfortable
for older children. Oral temperatures are good for children older than 5 who can
cooperate to keep a thermometer under their tongue. Tympanic thermometry uses an
electric thermometer to measure the temperature inside the ear. This is becoming a
popular technique, however measurements may be somewhat variable depending on
how deep in the ear the thermometer goes and interfering factors like ear wax
impaction. Axillary temperature measures the temperature in the armpit. Axillary
measurements are the farthest from the core, and are prone to imprecise and
inaccurate measurements due to factors such as sweat or vasodilation. Rectal, Oral and
Tympanic temperatures give the closest estimate to core temperature, although oral
temperatures tend to be slightly lower than the other two methods. Axillary
temperatures are consistently colder, and have a greater variability.
Developed by Chris Novak, Dr. Mel Lewis and Dr. Peter Gill for pedscases.com
February 15, 2015
Patients, or their parents frequently will report that their child feels warm or has a fever.
Studies have found that subjective reporting does increase the likelihood of a child
having a fever, but fevers should be documented and measured for confirmation,
especially in young children.
Trends with Age: Temperature does not vary significantly with age.
As mentioned earlier, the precise definition of fever varies depending on how you
measure it, however a good cut-off to remember is >38o
C. Fever represents an
infectious process in the majority of cases. However the differential of fever also
includes immune reactions to medications or vaccinations, CNS dysfunction, or chronic
inflammatory conditions like inflammatory bowel disease and juvenile idiopathic arthritis.
Hypothermia or low temperature is due to increased heat loss. Neonates and especially
preterm babies are prone to hypothermia due to an increased body surface area to
body mass ratio and reduced ability to produce heat. In neonates, hypothermia can be
an early indicator of sepsis.

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Approach to Pediatric Vital Signs
#13; Measurement: Temperature varies considerably depending on where it is measured. Ideally the goal is to measure a person’s core temperature, however the measurements that we use are surrogates measurements from peripheral sites. <span>Rectal temperatures are the preferred method for infants and young children, however this is uncomfortable for older children. Oral temperatures are good for children older than 5 who can cooperate to keep a thermometer under their tongue. Tympanic thermometry uses an electric thermometer to measure the temperature inside the ear. This is becoming a popular technique, however measurements may be somewhat variable depending on how deep in the ear the thermometer goes and interfering factors like ear wax impaction. Axillary temperature measures the temperature in the armpit. Axillary measurements are the farthest from the core, and are prone to imprecise and inaccurate measurements due to factors such as sweat or vasodilation. Rectal, Oral and Tympanic temperatures give the closest estimate to core temperature, although oral temperatures tend to be slightly lower than the other two methods. Axillary temperatures are consistently colder, and have a greater variability. Developed by Chris Novak, Dr. Mel Lewis and Dr. Peter Gill for pedscases.com February 15, 2015 Patients, or their parents frequently will report that their child feels warm or has a fever. Studies have found that subjective reporting does increase the likelihood of a child having a fever, but fevers should be documented and measured for confirmation, especially in young children. Trends with Age: Temperature does not vary significantly with age. As mentioned earlier, the precise definition of fever varies depending on how you measure it, however a good cut-off to remember is >38o C. Fever represents an infectious process in the majority of cases. However the differential of fever also includes immune reactions to medications or vaccinations, CNS dysfunction, or chronic inflammatory conditions like inflammatory bowel disease and juvenile idiopathic arthritis. Hypothermia or low temperature is due to increased heat loss. Neonates and especially preterm babies are prone to hypothermia due to an increased body surface area to body mass ratio and reduced ability to produce heat. In neonates, hypothermia can be an early indicator of sepsis. Pulse Oximetry Pulse oximetry is a measurement of arterial oxygen saturation or the SPO2. The device is attached to the child’s finger or ear and uses the differential ab




#ir #peds
Pulse oximetry is a measurement of arterial oxygen saturation or the SPO2. The device
is attached to the child’s finger or ear and uses the differential absorbance of light by
oxygenated hemoglobin compared to deoxygenated hemoglobin. The SPO2 has widely
been accepted as the 5th vital sign. SPO2 is expressed as a percentage, and has been
shown to be superior to the physical sign of cyanosis at detecting low oxygen levels in
the blood.
Sources of error in pulse oximetry include poor perfusion such as in hypothermia,
excessive ambient light, motion, and nail polish/artificial nails. The SPO2 also fails to
detect problems of poor oxygen delivery such as anemia, decreased cardiac output or
hemoglobinopathies. Interestingly, patients with carbon monoxide poisoning will have
normal SPO2 because their hemoglobin is saturated with carbon monoxide and the
device cannot detect a difference.
Trends with Age: SPO2 is lower in the immediate newborn period. Beyond this period,
normal levels are stable with age.
Normal pediatric pulse oximetry (SPO2) values have not yet been firmly established.
Generally, a SPO2 of <92% should be a cause of concern and may suggest a
respiratory disease or cyanotic heart disease.

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Approach to Pediatric Vital Signs
cially preterm babies are prone to hypothermia due to an increased body surface area to body mass ratio and reduced ability to produce heat. In neonates, hypothermia can be an early indicator of sepsis. Pulse Oximetry <span>Pulse oximetry is a measurement of arterial oxygen saturation or the SPO2. The device is attached to the child’s finger or ear and uses the differential absorbance of light by oxygenated hemoglobin compared to deoxygenated hemoglobin. The SPO2 has widely been accepted as the 5th vital sign. SPO2 is expressed as a percentage, and has been shown to be superior to the physical sign of cyanosis at detecting low oxygen levels in the blood. Sources of error in pulse oximetry include poor perfusion such as in hypothermia, excessive ambient light, motion, and nail polish/artificial nails. The SPO2 also fails to detect problems of poor oxygen delivery such as anemia, decreased cardiac output or hemoglobinopathies. Interestingly, patients with carbon monoxide poisoning will have normal SPO2 because their hemoglobin is saturated with carbon monoxide and the device cannot detect a difference. Trends with Age: SPO2 is lower in the immediate newborn period. Beyond this period, normal levels are stable with age. Normal pediatric pulse oximetry (SPO2) values have not yet been firmly established. Generally, a SPO2 of <92% should be a cause of concern and may suggest a respiratory disease or cyanotic heart disease. Conclusion Now let’s review our clinical case – Your patient is a 12-month old boy admitted with bronchiolitis. His vitals include HR of 120, RR of 36, BP of 85/37, tympa




#ir #peds
vitals case:
Your patient is a 12-month old boy admitted with
bronchiolitis. His vitals include HR of 120, RR of 36, BP of 85/37, tympanic temperature
of 36.60
C and SPO2 of 92% on room air. You first walk into the room and assess the
clinical picture. The baby is resting peacefully on room air, with only some mild
Developed by Chris Novak, Dr. Mel Lewis and Dr. Peter Gill for pedscases.com
February 15, 2015
expiratory wheeze noted. You review a reference table and find the following. A normal
heart rate for a child 1 year of age is between 100 and 190 bpm, therefore his heartrate
of 120 is comfortably within normal limits for a child his age. A normal respiratory rate
for his age would be between 24 and 40 bpm. His respiratory rate of 36 is at the high
end of normal, which is in keeping with his diagnosis of bronchiolitis. Using a blood
pressure calculator, you find that his blood pressure is at the 50th percentile for his age,
height and gender. He is afebrile. His oxygen saturation is low, but on the border of
what might be concerning. In summary, the child has stable vital signs, but may need a
few more days of supportive care before he is back to full health.

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Approach to Pediatric Vital Signs
(SPO2) values have not yet been firmly established. Generally, a SPO2 of <92% should be a cause of concern and may suggest a respiratory disease or cyanotic heart disease. Conclusion Now let’s review our clinical case – <span>Your patient is a 12-month old boy admitted with bronchiolitis. His vitals include HR of 120, RR of 36, BP of 85/37, tympanic temperature of 36.60 C and SPO2 of 92% on room air. You first walk into the room and assess the clinical picture. The baby is resting peacefully on room air, with only some mild Developed by Chris Novak, Dr. Mel Lewis and Dr. Peter Gill for pedscases.com February 15, 2015 expiratory wheeze noted. You review a reference table and find the following. A normal heart rate for a child 1 year of age is between 100 and 190 bpm, therefore his heartrate of 120 is comfortably within normal limits for a child his age. A normal respiratory rate for his age would be between 24 and 40 bpm. His respiratory rate of 36 is at the high end of normal, which is in keeping with his diagnosis of bronchiolitis. Using a blood pressure calculator, you find that his blood pressure is at the 50th percentile for his age, height and gender. He is afebrile. His oxygen saturation is low, but on the border of what might be concerning. In summary, the child has stable vital signs, but may need a few more days of supportive care before he is back to full health. This concludes our podcast. Before we leave, here are a few take-home points: 1) Pediatric vital signs vary with age, and it is important to use age-adjusted reference va




#cfa-level-1 #reading-22-financial-statement-analysis-intro
The notes disclose the basis of preparation for the financial statements.

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3.1.5. Financial Notes and Supplementary Schedules
ete set of financial statements. The notes provide information that is essential to understanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. <span>The notes disclose the basis of preparation for the financial statements. For example, Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted




Flashcard 1473951960332

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
The [...] disclose the basis of preparationfor the financial statements.
Answer
notes


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The notes disclose the basis of preparation for the financial statements.

Original toplevel document

3.1.5. Financial Notes and Supplementary Schedules
ete set of financial statements. The notes provide information that is essential to understanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. <span>The notes disclose the basis of preparation for the financial statements. For example, Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted







#ir #peds
Parents tend to know what's "normal" for their child. Don't be afraid to ask if what you're seeing is "usual" for their child, particularly if you haven't seen them before. Also, children can act very differently in your exam room; don't assume that because they're sitting quietly means that they aren't speaking yet -- or aren't throwing tantrums with alarming regularity at home.

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Pediatrics for Dummies (Or Med Students)
to get used to your presence and also to see that you are talking with his parents -- if mom and dad are okay with you then you can't be all that bad. Those who forget history are... History is tremendously important in pediatrics. <span>Parents tend to know what's "normal" for their child. Don't be afraid to ask if what you're seeing is "usual" for their child, particularly if you haven't seen them before. Also, children can act very differently in your exam room; don't assume that because they're sitting quietly means that they aren't speaking yet -- or aren't throwing tantrums with alarming regularity at home. It's okay to cry -- or cause it. I always take trying to get through an entire visit without frightening a child as a "little personal challenge," but it doesn't al




#ir #peds
Remember that stranger anxiety starts around 9 months of age, peaking at 15 months.

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Pediatrics for Dummies (Or Med Students)
ll often cry for what appears to be no reason at all. Many students worry that the parents will think they are incompetent, but most parents will be too embarrassed about their child's behavior to focus on you. Also, don't take it personally: <span>Remember that stranger anxiety starts around 9 months of age, peaking at 15 months. Incidentally, auscultating lungs while a child is crying is indeed possible. Just remember that even when screaming at the top of their lungs, all children have to pause to t




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added.

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3.1.5. Financial Notes and Supplementary Schedules
erstanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, <span>Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. The no




Flashcard 1473957727500

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Volkswagen discloses in its first note that its [...] to the calendar year.
Answer
fiscal year corresponds


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Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law

Original toplevel document

3.1.5. Financial Notes and Supplementary Schedules
erstanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, <span>Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. The no







#ir #peds
Incidentally, auscultating lungs while a child is crying is indeed possible. Just remember that even when screaming at the top of their lungs, all children have to pause to take a deep breath so they can keep crying. That pause is your opportunity!

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Pediatrics for Dummies (Or Med Students)
think they are incompetent, but most parents will be too embarrassed about their child's behavior to focus on you. Also, don't take it personally: Remember that stranger anxiety starts around 9 months of age, peaking at 15 months. <span>Incidentally, auscultating lungs while a child is crying is indeed possible. Just remember that even when screaming at the top of their lungs, all children have to pause to take a deep breath so they can keep crying. That pause is your opportunity! Be flexible -- in more ways than one. Don't be afraid to sit on the floor if that's where the child seems most comfortable. Also, be open to different ways of examination. Mo




Flashcard 1473961659660

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Volkswagen discloses in its first note that its financial statements are [...] as adopted by the European Union
Answer
prepared in accordance with IFRS


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Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, an

Original toplevel document

3.1.5. Financial Notes and Supplementary Schedules
erstanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, <span>Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. The no







#ir #peds
Be flexible -- in more ways than one. Don't be afraid to sit on the floor if that's where the child seems most comfortable. Also, be open to different ways of examination. Most of my pediatric exams were conducted with the child in the mother's lap. This way, the child felt secure, could be held briefly in place, and was at a good height to work with. Think about the "child's-eye view." Standing in front and leaning down may seem looming to them and provoke anxiety. Crouching down to say hello at the beginning is great, and asking the child to "give you 5" works well. While not all will do so at the outset, many will do so at the end once they've discovered you're not so scary.

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Pediatrics for Dummies (Or Med Students)
cultating lungs while a child is crying is indeed possible. Just remember that even when screaming at the top of their lungs, all children have to pause to take a deep breath so they can keep crying. That pause is your opportunity! <span>Be flexible -- in more ways than one. Don't be afraid to sit on the floor if that's where the child seems most comfortable. Also, be open to different ways of examination. Most of my pediatric exams were conducted with the child in the mother's lap. This way, the child felt secure, could be held briefly in place, and was at a good height to work with. Think about the "child's-eye view." Standing in front and leaning down may seem looming to them and provoke anxiety. Crouching down to say hello at the beginning is great, and asking the child to "give you 5" works well. While not all will do so at the outset, many will do so at the end once they've discovered you're not so scary. Don't ask, don't...lie. Don't lie to children. They won't forget it if you say "No shots" even if you know they'll be receiving immunizations later. Also, be carefu




#ir #peds
Don't ask, don't...lie. Don't lie to children. They won't forget it if you say "No shots" even if you know they'll be receiving immunizations later. Also, be careful with inadvertently asking permission. What do you do if you ask, "I'm going to look in your ear now, okay?" and the answer is "No!" Calm, declarative statements are best -- and feel free to give children choice where it doesn't matter to you. "Which ear shall I look in first?" is just fine.

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Pediatrics for Dummies (Or Med Students)
iety. Crouching down to say hello at the beginning is great, and asking the child to "give you 5" works well. While not all will do so at the outset, many will do so at the end once they've discovered you're not so scary. <span>Don't ask, don't...lie. Don't lie to children. They won't forget it if you say "No shots" even if you know they'll be receiving immunizations later. Also, be careful with inadvertently asking permission. What do you do if you ask, "I'm going to look in your ear now, okay?" and the answer is "No!" Calm, declarative statements are best -- and feel free to give children choice where it doesn't matter to you. "Which ear shall I look in first?" is just fine. Be infantile. Be willing to quickly change a diaper instead of leaving it, or swaddling a baby properly in a receiving blanket: You'll win friends among staff and parents. If




Flashcard 1473967951116

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Volkswagen discloses in its first note that the statements are prepared in compliance with [...] law.
Answer
German


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swagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with <span>German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figur

Original toplevel document

3.1.5. Financial Notes and Supplementary Schedules
erstanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, <span>Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. The no







#ir #peds
Be infantile. Be willing to quickly change a diaper instead of leaving it, or swaddling a baby properly in a receiving blanket: You'll win friends among staff and parents. If you don't know how to do either, ask. I'll never forget the mother who kindly taught a hapless student (me) how to swaddle a newborn properly.

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Pediatrics for Dummies (Or Med Students)
n your ear now, okay?" and the answer is "No!" Calm, declarative statements are best -- and feel free to give children choice where it doesn't matter to you. "Which ear shall I look in first?" is just fine. <span>Be infantile. Be willing to quickly change a diaper instead of leaving it, or swaddling a baby properly in a receiving blanket: You'll win friends among staff and parents. If you don't know how to do either, ask. I'll never forget the mother who kindly taught a hapless student (me) how to swaddle a newborn properly. Lose the white coat...maybe. Many people suggest not wearing a white coat in pediatrics since it may frighten the children. This is certainly true in some cases; at the same




Flashcard 1473971883276

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Volkswagen discloses in its first note that the statements are [...] unless otherwise specified.
Answer
denominated in millions of euros


statusnot learnedmeasured difficulty37% [default]last interval [days]               
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hat its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are <span>denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added.<span><body><html>

Original toplevel document

3.1.5. Financial Notes and Supplementary Schedules
erstanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, <span>Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. The no







#ir #peds
Don't be too silly. A common mistake is to try to be "too much of a friend." Acting very silly and messing around a lot often leads to a child who will not listen to your instructions when it's actually important. Joke around, be friendly, but don't overdo it.

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Pediatrics for Dummies (Or Med Students)
without the pockets of my coat for umpteen little reference books. My suggestion: Walk in and if the child seems suddenly scared by you, pull off the coat. Many kids will focus more on your demeanor and attitude than your clothing. <span>Don't be too silly. A common mistake is to try to be "too much of a friend." Acting very silly and messing around a lot often leads to a child who will not listen to your instructions when it's actually important. Joke around, be friendly, but don't overdo it. Handy cartoon items of clothing. The ability to wear a tie or a scarf with cartoon characters is one of Dipesh's Two Major Advantages of Pediatrics (the other is being able t




Flashcard 1473975815436

Tags
#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
Volkswagen discloses in its first note that the [...], which might give rise to minor discrepancies when figures are added.
Answer
figures have been rounded


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tatements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the <span>figures have been rounded, which might give rise to minor discrepancies when figures are added.<span><body><html>

Original toplevel document

3.1.5. Financial Notes and Supplementary Schedules
erstanding the information provided in the primary statements. Volkswagen’s 2009 financial statements, for example, include 91 pages of notes. The notes disclose the basis of preparation for the financial statements. For example, <span>Volkswagen discloses in its first note that its fiscal year corresponds to the calendar year, that its financial statements are prepared in accordance with IFRS as adopted by the European Union, that the statements are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. The no







#ir #peds
Handy cartoon items of clothing. The ability to wear a tie or a scarf with cartoon characters is one of Dipesh's Two Major Advantages of Pediatrics (the other is being able to make booger jokes in a professional setting). Many parents will point and say, "Look, he has kitty cats on his tie." Additionally, with infants, waving the brightly colored tie or scarf around will distract them while you auscultate or palpate. Some people like to attach a small toy to their clothing or stethoscope. I tried this and found it had one major problem: The child would often remove the toy, and retrieving it became difficult, especially if (a) the toy was not safe for their age and (b) I didn't have an inexhaustible supply available. Also, it's particularly hard to auscultate well if a child is fixating on the little koala bear on the end of your stethoscope and grabbing it while you try to listen

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Pediatrics for Dummies (Or Med Students)
to try to be "too much of a friend." Acting very silly and messing around a lot often leads to a child who will not listen to your instructions when it's actually important. Joke around, be friendly, but don't overdo it. <span>Handy cartoon items of clothing. The ability to wear a tie or a scarf with cartoon characters is one of Dipesh's Two Major Advantages of Pediatrics (the other is being able to make booger jokes in a professional setting). Many parents will point and say, "Look, he has kitty cats on his tie." Additionally, with infants, waving the brightly colored tie or scarf around will distract them while you auscultate or palpate. Some people like to attach a small toy to their clothing or stethoscope. I tried this and found it had one major problem: The child would often remove the toy, and retrieving it became difficult, especially if (a) the toy was not safe for their age and (b) I didn't have an inexhaustible supply available. Also, it's particularly hard to auscultate well if a child is fixating on the little koala bear on the end of your stethoscope and grabbing it while you try to listen. Enlist their help. Often a "safe" way to touch a patient starts with the stethoscope. Ask children for their help: Tell them you forgot where the earpieces go. If




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls.

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3.1.5. Financial Notes and Supplementary Schedules
ents are prepared in compliance with German law, that the statements are denominated in millions of euros unless otherwise specified, and that the figures have been rounded, which might give rise to minor discrepancies when figures are added. <span>Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. The notes also disclose information about the accounting policies, methods, and estimates used to prepare the financial statements. As will be discussed in later readings,




#ir #peds
Enlist their help. Often a "safe" way to touch a patient starts with the stethoscope. Ask children for their help: Tell them you forgot where the earpieces go. If they seem unsure, ask if it goes on your nose, pinching your nose with the earpieces to create a comical nasal voice. When they tell you it goes in you ears, hang the stethoscope on one ear, like a large earring. Some kids will be shy enough still that they won't say anything, in which case a parent usually provides the "right answers," or you can mysteriously suddenly remember everything from your clinical skills course.

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Pediatrics for Dummies (Or Med Students)
ir age and (b) I didn't have an inexhaustible supply available. Also, it's particularly hard to auscultate well if a child is fixating on the little koala bear on the end of your stethoscope and grabbing it while you try to listen. <span>Enlist their help. Often a "safe" way to touch a patient starts with the stethoscope. Ask children for their help: Tell them you forgot where the earpieces go. If they seem unsure, ask if it goes on your nose, pinching your nose with the earpieces to create a comical nasal voice. When they tell you it goes in you ears, hang the stethoscope on one ear, like a large earring. Some kids will be shy enough still that they won't say anything, in which case a parent usually provides the "right answers," or you can mysteriously suddenly remember everything from your clinical skills course. Listen and save. Start by auscultating their abdomen. As soon as the head touches the child, make an exaggerated surprised look on your face. Do this each time you auscultate




#cfa-level-1 #reading-22-financial-statement-analysis-intro
The notes also disclose information about the accounting policies, methods, and estimates used to prepare the financial statements.

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3.1.5. Financial Notes and Supplementary Schedules
might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. <span>The notes also disclose information about the accounting policies, methods, and estimates used to prepare the financial statements. As will be discussed in later readings, both IFRS and US GAAP allow some flexibility in choosing among alternative policies and methods when accounting for certain items. This flexibili




#ir #peds
Listen and save. Start by auscultating their abdomen. As soon as the head touches the child, make an exaggerated surprised look on your face. Do this each time you auscultate. This has the effect of drawing the child's attention away from the stethoscope (and perhaps trying to push it away) as well as entertaining them. Practice making faces in the mirror -- most of us are capable of being fairly funny-looking.

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Pediatrics for Dummies (Or Med Students)
earring. Some kids will be shy enough still that they won't say anything, in which case a parent usually provides the "right answers," or you can mysteriously suddenly remember everything from your clinical skills course. <span>Listen and save. Start by auscultating their abdomen. As soon as the head touches the child, make an exaggerated surprised look on your face. Do this each time you auscultate. This has the effect of drawing the child's attention away from the stethoscope (and perhaps trying to push it away) as well as entertaining them. Practice making faces in the mirror -- most of us are capable of being fairly funny-looking. A common concern among parents is the "rattling chest." Remember that upper airway congestion in a young child can easily transmit noise down the respiratory tree a




Flashcard 1473985514764

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Question
The notes also disclose information about the [...], methods, and estimates used to prepare the financial statements.
Answer
accounting policies


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The notes also disclose information about the accounting policies, methods, and estimates used to prepare the financial statements.

Original toplevel document

3.1.5. Financial Notes and Supplementary Schedules
might give rise to minor discrepancies when figures are added. Volkswagen also discloses that its financial statements are on a consolidated basis—that is, including Volkswagen AG and all of the subsidiary companies it controls. <span>The notes also disclose information about the accounting policies, methods, and estimates used to prepare the financial statements. As will be discussed in later readings, both IFRS and US GAAP allow some flexibility in choosing among alternative policies and methods when accounting for certain items. This flexibili







#ir #peds
A common concern among parents is the "rattling chest." Remember that upper airway congestion in a young child can easily transmit noise down the respiratory tree and can even be felt as "rattling." Don't minimize or ignore parents' concerns. Instead, explain how upper airway congestion can "echo" throughout the entire chest. Also, ask your preceptor to help you differentiate between transmitted upper airway noises and signs of actual lung pathology

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Pediatrics for Dummies (Or Med Students)
s the effect of drawing the child's attention away from the stethoscope (and perhaps trying to push it away) as well as entertaining them. Practice making faces in the mirror -- most of us are capable of being fairly funny-looking. <span>A common concern among parents is the "rattling chest." Remember that upper airway congestion in a young child can easily transmit noise down the respiratory tree and can even be felt as "rattling." Don't minimize or ignore parents' concerns. Instead, explain how upper airway congestion can "echo" throughout the entire chest. Also, ask your preceptor to help you differentiate between transmitted upper airway noises and signs of actual lung pathology. Stunt palpation. Tell children that you're going to figure out what they had for lunch (or breakfast or whatever). Palpate their abdomen gently and then stop. Claim it's som




#cfa-level-1 #reading-22-financial-statement-analysis-intro
IFRS and US GAAP allow some flexibility in choosing among alternative policies and methods when accounting for certain items.

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3.1.5. Financial Notes and Supplementary Schedules
AG and all of the subsidiary companies it controls. The notes also disclose information about the accounting policies, methods, and estimates used to prepare the financial statements. As will be discussed in later readings, both <span>IFRS and US GAAP allow some flexibility in choosing among alternative policies and methods when accounting for certain items. This flexibility aims to meet the divergent needs of many businesses for reporting a variety of economic transactions. In addition to differences in accounting policies and methods, dif




#ir #peds
Stunt palpation. Tell children that you're going to figure out what they had for lunch (or breakfast or whatever). Palpate their abdomen gently and then stop. Claim it's something outrageous, like a truck. When told "No!," palpate again "for another try," and keep going. By the time you've "given up," you've completed your abdominal exam, often fairly deeply. As an aside, a child who states that her "belly hurts" each time you come within 6 inches of it can often have her claim verified by "stethoscope palpation" while you're "listening."

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Pediatrics for Dummies (Or Med Students)
concerns. Instead, explain how upper airway congestion can "echo" throughout the entire chest. Also, ask your preceptor to help you differentiate between transmitted upper airway noises and signs of actual lung pathology. <span>Stunt palpation. Tell children that you're going to figure out what they had for lunch (or breakfast or whatever). Palpate their abdomen gently and then stop. Claim it's something outrageous, like a truck. When told "No!," palpate again "for another try," and keep going. By the time you've "given up," you've completed your abdominal exam, often fairly deeply. As an aside, a child who states that her "belly hurts" each time you come within 6 inches of it can often have her claim verified by "stethoscope palpation" while you're "listening." How to be "hip" for pennies a day. For the slightly older patients, learn something minor about very popular cartoons, toys, or sports, which can often be learned f




#cfa-level-1 #reading-22-financial-statement-analysis-intro
In addition to differences in accounting policies and methods, differences arise as a result of estimates needed to record and measure transactions, events, and financial statement line items.

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3.1.5. Financial Notes and Supplementary Schedules
RS and US GAAP allow some flexibility in choosing among alternative policies and methods when accounting for certain items. This flexibility aims to meet the divergent needs of many businesses for reporting a variety of economic transactions. <span>In addition to differences in accounting policies and methods, differences arise as a result of estimates needed to record and measure transactions, events, and financial statement line items. Overall, flexibility in accounting choices is necessary because, ideally, a company will select those policies, methods, and estimates that are allowable and most relevant




#ir #peds
How to be "hip" for pennies a day. For the slightly older patients, learn something minor about very popular cartoons, toys, or sports, which can often be learned from newspapers (unfortunately, you cannot claim Continuing Medical Education credits for watching Saturday morning cartoons, even if it is technically "professional development"). One 6-year-old let me do whatever I needed after he discovered I knew how many different Pokémon there were, a fact I had gleaned solely through seeing the ad for the movie in the local paper.

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Pediatrics for Dummies (Or Med Students)
ten fairly deeply. As an aside, a child who states that her "belly hurts" each time you come within 6 inches of it can often have her claim verified by "stethoscope palpation" while you're "listening." <span>How to be "hip" for pennies a day. For the slightly older patients, learn something minor about very popular cartoons, toys, or sports, which can often be learned from newspapers (unfortunately, you cannot claim Continuing Medical Education credits for watching Saturday morning cartoons, even if it is technically "professional development"). One 6-year-old let me do whatever I needed after he discovered I knew how many different Pokémon there were, a fact I had gleaned solely through seeing the ad for the movie in the local paper. Looking in ears and mouths without starting a major land war. The most difficult part of most pediatric exams is looking at eardrums and throats. Face it, otoscopes are fairl




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Overall, flexibility in accounting choices is necessary because, ideally, a company will select those policies, methods, and estimates that are allowable and most relevant and that fairly reflect the unique economic environment of the company’s business and industry.

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3.1.5. Financial Notes and Supplementary Schedules
a variety of economic transactions. In addition to differences in accounting policies and methods, differences arise as a result of estimates needed to record and measure transactions, events, and financial statement line items. <span>Overall, flexibility in accounting choices is necessary because, ideally, a company will select those policies, methods, and estimates that are allowable and most relevant and that fairly reflect the unique economic environment of the company’s business and industry. Flexibility can, however, create challenges for the analyst because the use of different policies, methods, and estimates reduces comparability across different companies’ financial sta




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Flexibility can, however, create challenges for the analyst because the use of different policies, methods, and estimates reduces comparability across different companies’ financial statements.

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3.1.5. Financial Notes and Supplementary Schedules
ccounting choices is necessary because, ideally, a company will select those policies, methods, and estimates that are allowable and most relevant and that fairly reflect the unique economic environment of the company’s business and industry. <span>Flexibility can, however, create challenges for the analyst because the use of different policies, methods, and estimates reduces comparability across different companies’ financial statements. Comparability occurs when different companies’ information is measured and reported in a similar manner over time. Comparability helps the analyst identify and analyze the real economic




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Comparability occurs when different companies’ information is measured and reported in a similar manner over time. Comparability helps

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3.1.5. Financial Notes and Supplementary Schedules
ironment of the company’s business and industry. Flexibility can, however, create challenges for the analyst because the use of different policies, methods, and estimates reduces comparability across different companies’ financial statements. <span>Comparability occurs when different companies’ information is measured and reported in a similar manner over time. Comparability helps the analyst identify and analyze the real economic differences across companies, rather than differences that arise solely from different accounting choices. Because comparability of fi




#ir #peds
Looking in ears and mouths without starting a major land war. The most difficult part of most pediatric exams is looking at eardrums and throats. Face it, otoscopes are fairly scary-looking, and kids are wary of being gagged by a tongue depressor. First of all, leave the HEENT exam for last. When you do get to that portion, tell the child that you want to show them something really cool. Take the otoscope and put your finger over the end and turn on the light. Point out how you have a cool "light up" finger now. Hold out the otoscope end and offer the child the chance to light up their finger. (Recalcitrant children are often convinced if a parent or sibling tries it out first.)

Now ask them to hold the otoscope tip for you and put it on the end like a hat. At this point, they've touched the otoscope enough times that they realize it isn't so scary. If you tell the child that you now want to see if they have light-up ears, most will not resist. Light-up noses and light-up teeth generally follow in quick succession.

This is more than just a game, incidentally. By doing the above, you've also learned a lot about the child's fine motor skills (placing an otoscope tip) and receptive language skills. It can surprise you that a shy 11-month-old can be grammatically sophisticated enough to understand "Can you put this on here?"

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Pediatrics for Dummies (Or Med Students)
"professional development"). One 6-year-old let me do whatever I needed after he discovered I knew how many different Pokémon there were, a fact I had gleaned solely through seeing the ad for the movie in the local paper. <span>Looking in ears and mouths without starting a major land war. The most difficult part of most pediatric exams is looking at eardrums and throats. Face it, otoscopes are fairly scary-looking, and kids are wary of being gagged by a tongue depressor. First of all, leave the HEENT exam for last. When you do get to that portion, tell the child that you want to show them something really cool. Take the otoscope and put your finger over the end and turn on the light. Point out how you have a cool "light up" finger now. Hold out the otoscope end and offer the child the chance to light up their finger. (Recalcitrant children are often convinced if a parent or sibling tries it out first.) Now ask them to hold the otoscope tip for you and put it on the end like a hat. At this point, they've touched the otoscope enough times that they realize it isn't so scary. If you tell the child that you now want to see if they have light-up ears, most will not resist. Light-up noses and light-up teeth generally follow in quick succession. This is more than just a game, incidentally. By doing the above, you've also learned a lot about the child's fine motor skills (placing an otoscope tip) and receptive language skills. It can surprise you that a shy 11-month-old can be grammatically sophisticated enough to understand "Can you put this on here?" Warning signs, Part One. If you walk into a room and a child is lying still on the exam table, she's either sound asleep or very ill. A child who is not moving much or is &qu




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Comparability occurs when different companies’ information is measured and reported in a similar manner over time. Comparability helps the analyst identify and analyze the real economic differences across companies, rather than differences that arise solely from different accounting choices.

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3.1.5. Financial Notes and Supplementary Schedules
ironment of the company’s business and industry. Flexibility can, however, create challenges for the analyst because the use of different policies, methods, and estimates reduces comparability across different companies’ financial statements. <span>Comparability occurs when different companies’ information is measured and reported in a similar manner over time. Comparability helps the analyst identify and analyze the real economic differences across companies, rather than differences that arise solely from different accounting choices. Because comparability of financial statements is a critical requirement for objective financial analysis, an analyst should be aware of the potential for differences in accounting choic




#ir #peds
Warning signs, Part One. If you walk into a room and a child is lying still on the exam table, she's either sound asleep or very ill. A child who is not moving much or is "looking very sick" is a child who needs to be examined and possibly worked up very carefully.

Warning signs, Part Two. Be very aware of a child who is so fearful that he will not leave his parent's side at all and spends the entire visit eyeing you nervously. If there is no history of possibly traumatic medical encounters (a child who has been hospitalized and subjected to repeated invasive tests, for example), you may need to delve deeper. One 2-year-old acted in precisely this manner, and after I diagnosed him with a minor viral upper respiratory infection, I asked his mother if he often behaved in this manner. After some discussion, it came out that he had witnessed numerous instances of domestic violence between her and his father, whom they still lived with. Given their lack of insurance and the fact that the mother didn't have a regular healthcare provider, the child's behavior was the only clue that led to his mother being referred to a women's shelter.

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Pediatrics for Dummies (Or Med Students)
about the child's fine motor skills (placing an otoscope tip) and receptive language skills. It can surprise you that a shy 11-month-old can be grammatically sophisticated enough to understand "Can you put this on here?" <span>Warning signs, Part One. If you walk into a room and a child is lying still on the exam table, she's either sound asleep or very ill. A child who is not moving much or is "looking very sick" is a child who needs to be examined and possibly worked up very carefully. Warning signs, Part Two. Be very aware of a child who is so fearful that he will not leave his parent's side at all and spends the entire visit eyeing you nervously. If there is no history of possibly traumatic medical encounters (a child who has been hospitalized and subjected to repeated invasive tests, for example), you may need to delve deeper. One 2-year-old acted in precisely this manner, and after I diagnosed him with a minor viral upper respiratory infection, I asked his mother if he often behaved in this manner. After some discussion, it came out that he had witnessed numerous instances of domestic violence between her and his father, whom they still lived with. Given their lack of insurance and the fact that the mother didn't have a regular healthcare provider, the child's behavior was the only clue that led to his mother being referred to a women's shelter. Finally, these tips won't necessarily work in every situation or with every child. Sometimes they won't work at all. Rather than focusing on the specifics, however, think abo




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Because comparability of financial statements is a critical requirement for objective financial analysis, an analyst should be aware of the potential for differences in accounting choices even when comparing two companies that use the same set of accounting standards.

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3.1.5. Financial Notes and Supplementary Schedules
ormation is measured and reported in a similar manner over time. Comparability helps the analyst identify and analyze the real economic differences across companies, rather than differences that arise solely from different accounting choices. <span>Because comparability of financial statements is a critical requirement for objective financial analysis, an analyst should be aware of the potential for differences in accounting choices even when comparing two companies that use the same set of accounting standards. For example, if a company acquires a piece of equipment to use in its operations, accounting standards require that the cost of the equipment be reported as an expense by a




#cfa-level-1 #reading-22-financial-statement-analysis-intro
if a company acquires a piece of equipment to use in its operations, accounting standards require that the cost of the equipment be reported as an expense by allocating its cost less any residual value in a systematic manner over the equipment’s useful life.

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3.1.5. Financial Notes and Supplementary Schedules
ritical requirement for objective financial analysis, an analyst should be aware of the potential for differences in accounting choices even when comparing two companies that use the same set of accounting standards. For example, <span>if a company acquires a piece of equipment to use in its operations, accounting standards require that the cost of the equipment be reported as an expense by allocating its cost less any residual value in a systematic manner over the equipment’s useful life. This allocation of the cost is known as depreciation . Accounting standards permit flexibility, however, in determining the manner in which each year’s expense is determined. Two compa




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Accounting standards permit flexibility, however, in determining the manner in which each year’s depreciation expense is determined.

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3.1.5. Financial Notes and Supplementary Schedules
ounting standards require that the cost of the equipment be reported as an expense by allocating its cost less any residual value in a systematic manner over the equipment’s useful life. This allocation of the cost is known as depreciation . <span>Accounting standards permit flexibility, however, in determining the manner in which each year’s expense is determined. Two companies may acquire similar equipment but use different methods and assumptions to record the expense over time. An analyst’s ability to compare the companies’ performance is hin




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Analysts must understand reporting choices in order to make appropriate adjustments when comparing companies’ financial positions and performance.

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3.1.5. Financial Notes and Supplementary Schedules
ach year’s expense is determined. Two companies may acquire similar equipment but use different methods and assumptions to record the expense over time. An analyst’s ability to compare the companies’ performance is hindered by the difference. <span>Analysts must understand reporting choices in order to make appropriate adjustments when comparing companies’ financial positions and performance. A company’s significant accounting choices (policies, methods, and estimates) must be discussed in the notes to the financial statements. For example, a note containing a s




#cfa-level-1 #reading-22-financial-statement-analysis-intro
A company’s significant accounting choices (policies, methods, and estimates) must be discussed in the notes to the financial statements.

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3.1.5. Financial Notes and Supplementary Schedules
yst’s ability to compare the companies’ performance is hindered by the difference. Analysts must understand reporting choices in order to make appropriate adjustments when comparing companies’ financial positions and performance. <span>A company’s significant accounting choices (policies, methods, and estimates) must be discussed in the notes to the financial statements. For example, a note containing a summary of significant accounting policies includes how the company recognizes its revenues and depreciates its non-current tangible assets. Analysts mu




#cfa-level-1 #reading-22-financial-statement-analysis-intro
a note containing a summary of significant accounting policies includes how the company recognizes its revenues and depreciates its non-current tangible assets.

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3.1.5. Financial Notes and Supplementary Schedules
ate adjustments when comparing companies’ financial positions and performance. A company’s significant accounting choices (policies, methods, and estimates) must be discussed in the notes to the financial statements. For example, <span>a note containing a summary of significant accounting policies includes how the company recognizes its revenues and depreciates its non-current tangible assets. Analysts must understand the accounting choices a company makes and determine whether they are similar to those of other companies identified and used as benchmarks or comparables. If t




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Analysts must understand the accounting choices a company makes and determine whether they are similar to those of other companies identified and used as benchmarks or comparables.

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3.1.5. Financial Notes and Supplementary Schedules
timates) must be discussed in the notes to the financial statements. For example, a note containing a summary of significant accounting policies includes how the company recognizes its revenues and depreciates its non-current tangible assets. <span>Analysts must understand the accounting choices a company makes and determine whether they are similar to those of other companies identified and used as benchmarks or comparables. If the policies of the companies being compared are different, the analyst who understands accounting and financial reporting can often make necessary adjustments so that the financial




#cfa-level-1 #reading-22-financial-statement-analysis-intro

If the policies of the companies being compared are different, the analyst who understands accounting and financial reporting can often make necessary adjustments so that the financial statement data used are more comparable.

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3.1.5. Financial Notes and Supplementary Schedules
its revenues and depreciates its non-current tangible assets. Analysts must understand the accounting choices a company makes and determine whether they are similar to those of other companies identified and used as benchmarks or comparables. <span>If the policies of the companies being compared are different, the analyst who understands accounting and financial reporting can often make necessary adjustments so that the financial statement data used are more comparable. For many companies, the financial notes and supplemental schedules provide explanatory information about every line item (or almost every line item) on the balance sheet an




#cfa-level-1 #reading-22-financial-statement-analysis-intro
For many companies, the financial notes and supplemental schedules provide explanatory information about every line item (or almost every line item) on the balance sheet and income statemen

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3.1.5. Financial Notes and Supplementary Schedules
es. If the policies of the companies being compared are different, the analyst who understands accounting and financial reporting can often make necessary adjustments so that the financial statement data used are more comparable. <span>For many companies, the financial notes and supplemental schedules provide explanatory information about every line item (or almost every line item) on the balance sheet and income statement, as illustrated by the note references in Volkswagen’s balance sheet and income statement in Exhibits 3 and 5. In addition, note disclosures include information about the following (th




#cfa-level-1 #reading-22-financial-statement-analysis-intro

In addition, note disclosures include information about the following (this is not an exhaustive list):

  • financial instruments and risks arising from financial instruments,

  • commitments and contingencies,

  • legal proceedings,

  • related-party transactions,

  • subsequent events (i.e., events that occur after the balance sheet date),

  • business acquisitions and disposals, and

  • operating segments’ performance.

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3.1.5. Financial Notes and Supplementary Schedules
hedules provide explanatory information about every line item (or almost every line item) on the balance sheet and income statement, as illustrated by the note references in Volkswagen’s balance sheet and income statement in Exhibits 3 and 5. <span>In addition, note disclosures include information about the following (this is not an exhaustive list): financial instruments and risks arising from financial instruments, commitments and contingencies, legal proceedings, related-party transactions, subsequent events (i.e., events that occur after the balance sheet date), business acquisitions and disposals, and operating segments’ performance. Exhibit 9. Excerpt from Notes to the Consolidated Financial Statements of the Volkswagen Group for Fiscal Year Ended 31 December 2009: Selected Data on Operati




#cfa-level-1 #reading-22-financial-statement-analysis-intro
An analyst uses a significant amount of judgment in deciding how to incorporate information from note disclosures into the analysis.

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3.1.5. Financial Notes and Supplementary Schedules
Vehicles Scania Volkswagen Financial Services Total Segments Sales revenue from external customers 86,297 6,385 11,095 103,777 Segment profit or loss 2,020 236 606 2,862 Segment assets 87,786 9,512 76,431 173,729 <span>An analyst uses a significant amount of judgment in deciding how to incorporate information from note disclosures into the analysis. For example, such information as financial instrument risk, contingencies, and legal proceedings can alert an analyst to risks that can affect a company’s financial position and perform




#cfa-level-1 #reading-22-financial-statement-analysis-intro
such information as financial instrument risk, contingencies, and legal proceedings can alert an analyst to risks that can affect a company’s financial position and performance in the future and that require monitoring over time.

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3.1.5. Financial Notes and Supplementary Schedules
ofit or loss 2,020 236 606 2,862 Segment assets 87,786 9,512 76,431 173,729 An analyst uses a significant amount of judgment in deciding how to incorporate information from note disclosures into the analysis. For example, <span>such information as financial instrument risk, contingencies, and legal proceedings can alert an analyst to risks that can affect a company’s financial position and performance in the future and that require monitoring over time. As another example, information about a company’s operating segments can be useful as a means of quickly understanding what a company does and how and where it earns money. The operatin




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information about a company’s operating segments can be useful as a means of quickly understanding what a company does and how and where it earns money

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3.1.5. Financial Notes and Supplementary Schedules
formation as financial instrument risk, contingencies, and legal proceedings can alert an analyst to risks that can affect a company’s financial position and performance in the future and that require monitoring over time. As another example, <span>information about a company’s operating segments can be useful as a means of quickly understanding what a company does and how and where it earns money. The operating segment data shown in Exhibit 9 appear in the notes to the financial statements for Volkswagen. (The totals of the segment data do not equal the amounts reported in the c




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Experience using the disclosures of a company and its competitors typically enhances an analyst’s judgment about the relative importance of different disclosures and the ways in which they can be helpful.

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3.1.5. Financial Notes and Supplementary Schedules
this segment in both years. In 2008, this segment accounted for over 80 percent of the company’s total segment operating profits, although the percentage declined to 70 percent in 2009 because of higher sales growth in the other two segments. <span>Experience using the disclosures of a company and its competitors typically enhances an analyst’s judgment about the relative importance of different disclosures and the ways in which they can be helpful. <span><body><html>




Article 1474027195660

3.1.6. Management Commentary or Management’s Discussion and Analysis
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Publicly held companies typically include a section in their annual reports where management discusses a variety of issues of concern, including the nature of the business, past results, and future outlook. This section is referred to by a variety of names, including management report(ing), management commentary, operating and financial review, and management’s discussion and analysis. Inclusion of a management report is recommended by the International Organization of Securities Commissions and frequently required by regulatory authorities, such as the US Securities and Exchange Commission (SEC) or the UK Financial Reporting Council (FRC). In Germany, management reporting has been required since 1931 and is audited. The discussion by management is arguably one of the most useful parts of a company’s annual report besides the financial statements themselves; however, other than excerpts from the financial statements, information included in the management commentary is typically unaudited. When using i



#biochem #biology #cell
cells are 70% water

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#biochem #biology #cell
Living organisms are made of only a small selection of the 92 naturally occurring elements, four of which—carbon (C), hydrogen (H), nitrogen (N), and oxygen (O)—make up 96.5% of an organism’s weight

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#biochem #biology #cell
covalent bonds are typically 100 times stronger than the thermal energies within a cell, they resist being pulled apart by thermal motions, and they are normally broken only during specific chemical reactions with other atoms and molecules.

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#biochem #biology #cell
Noncovalent chemical bonds have less than 1/20 the strength of a covalent bond

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#biochem #biology #cell
Many biologically important molecules contain an amino (NH 2 ) group. This group is a weak base that can generate OH – by taking a proton from water

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#biochem #biology #cell
By weight, macromolecules are the most abundant carbon-containing molecules in a living cell

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#biochem #biology #cell
Enzymes catalyze all of the reactions whereby cells extract energy from food molecules, for example, and an enzyme called ribulose bisphosphate car- boxylase helps to convert CO 2 to sugars in photosynthetic organisms, producing most of the organic matter needed for life on Earth

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#biochem #biology #cell
tubulin, a protein that self-assembles to make the cell’s long microtubules

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#biochem #biology #cell
The stepwise polymerization of monomers into a long chain is a simple way to manufacture a large, complex molecule, since the subunits are added by the same reaction performed over and over again by the same set of enzymes.

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#biochem #biology #cell
the shapes of most biological macromolecules are highly constrained because of the many weak noncovalent bonds that form between different parts of the same molecule.

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#biochem #biology #cell
Small molecules become covalently linked to form macromolecules, which in turn assemble through noncovalent interactions to form large complexes

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#bayes #programming #r #statistics
The mathematical formula for the normal probability density is p(x) = 1 σ √ 2π exp − 1 2 x − μ σ 2

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#bayes #programming #r #statistics
We weighted each possible outcome by the probability that it happens. This procedure defines the mean of a probability distribution, which is also called the expected value, and which is denoted E[x]

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#bayes #programming #r #statistics
“variance” is based on the squared difference between x and the mean

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#bayes #programming #r #statistics
The definition of variance is simply the mean squared deviation (MSD) of the x values from their mean: int var x = dxp(x) ( x − E[x] ) 2

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#bayes #programming #r #statistics
Notice that Equation 4.8 is just like the formula for the mean (Equation 4.6)except that instead of integrating x weighted by x’s probability, we’re integrating ( x − E[x] ) 2 weighted by x’s probability. In other words, the variance is just the average value of ( x − E[x] ) 2

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#bayes #programming #r #statistics
The square root of the variance, sometimes referred to as root mean squared deviation (RMSD), is called the standard deviation of the distribution

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#bayes #programming #r #statistics
In a normal distribution, about 34% of the distribution lies between μ and μ +σ

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#cfa-level-1 #reading-22-financial-statement-analysis-intro
Publicly held companies typically include a section in their annual reports where management discusses a variety of issues of concern, including the nature of the business, past results, and future outlook

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3.1.6. Management Commentary or Management’s Discussion and Analysis
Publicly held companies typically include a section in their annual reports where management discusses a variety of issues of concern, including the nature of the business, past results, and future outlook. This section is referred to by a variety of names, including management report(ing), management commentary, operating and financial review, and management’s discussion and analysis. In




#cfa-level-1 #reading-22-financial-statement-analysis-intro
This section is referred to by a variety of names, including management report(ing), management commentary, operating and financial review, and management’s discussion and analysis.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
ad> Publicly held companies typically include a section in their annual reports where management discusses a variety of issues of concern, including the nature of the business, past results, and future outlook. This section is referred to by a variety of names, including management report(ing), management commentary, operating and financial review, and management’s discussion and analysis. Inclusion of a management report is recommended by the International Organization of Securities Commissions and frequently required by regulatory authorities, such as the US Securities




#cfa-level-1 #reading-22-financial-statement-analysis-intro
In Germany, management reporting has been required since 1931 and is audited.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
nagement report is recommended by the International Organization of Securities Commissions and frequently required by regulatory authorities, such as the US Securities and Exchange Commission (SEC) or the UK Financial Reporting Council (FRC). <span>In Germany, management reporting has been required since 1931 and is audited. The discussion by management is arguably one of the most useful parts of a company’s annual report besides the financial statements themselves; however, other than excerpts from the fin




#cfa-level-1 #reading-22-financial-statement-analysis-intro
The discussion by management is one of the most useful parts of a company’s annual report; however, other than excerpts from the financial statements, information included in the management commentary is typically unaudited.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
Commissions and frequently required by regulatory authorities, such as the US Securities and Exchange Commission (SEC) or the UK Financial Reporting Council (FRC). In Germany, management reporting has been required since 1931 and is audited. <span>The discussion by management is arguably one of the most useful parts of a company’s annual report besides the financial statements themselves; however, other than excerpts from the financial statements, information included in the management commentary is typically unaudited. When using information from the management report, an analyst should be aware of whether the information is audited or unaudited. To help improve the quality of the discuss




Flashcard 1474075430156

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Question
When using information from the management report, an analyst should be aware of whether the information is [...]
Answer
audited or unaudited.


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When using information from the management report, an analyst should be aware of whether the information is audited or unaudited.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
uably one of the most useful parts of a company’s annual report besides the financial statements themselves; however, other than excerpts from the financial statements, information included in the management commentary is typically unaudited. <span>When using information from the management report, an analyst should be aware of whether the information is audited or unaudited. To help improve the quality of the discussion by management, the International Accounting Standards Board (IASB) issued an exposure draft in June 2009 that proposed a frame







#cfa-level-1 #reading-22-financial-statement-analysis-intro
In the US' Public companies, Management must highlight any favorable or unfavorable trends and identify significant events and uncertainties that affect the company’s liquidity, capital resources, and results of operations.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
company’s significant resources, risks, and relationships; 4) results of operations; and 5) critical performance measures. In the United States, the SEC requires listed companies to provide an MD&A and specifies the content.7 <span>Management must highlight any favorable or unfavorable trends and identify significant events and uncertainties that affect the company’s liquidity, capital resources, and results of operations. The MD&A must also provide information about the effects of inflation, changing prices, or other material events and uncertainties that may cause the future operating results and fi




Flashcard 1474090634508

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Question
In the US, the MD&A must provide information about [...] obligations and about contractual commitments such as purchase obligations.
Answer
off-balance-sheet


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In the US, the MD&A must provide information about off-balance-sheet obligations and about contractual commitments such as purchase obligations.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
about the effects of inflation, changing prices, or other material events and uncertainties that may cause the future operating results and financial condition to materially depart from the current reported financial information. In addition, <span>the MD&A must provide information about off-balance-sheet obligations and about contractual commitments such as purchase obligations. Companies should also provide disclosure in the MD&A that discusses the critical accounting policies that require management to make subjective judgments and that have a significant







#cfa-level-1 #reading-22-financial-statement-analysis-intro
Companies should also provide disclosure in the MD&A that discusses the critical accounting policies that require management to make subjective judgments and that have a significant impact on reported financial results.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
d financial condition to materially depart from the current reported financial information. In addition, the MD&A must provide information about off-balance-sheet obligations and about contractual commitments such as purchase obligations. <span>Companies should also provide disclosure in the MD&A that discusses the critical accounting policies that require management to make subjective judgments and that have a significant impact on reported financial results. The management commentary or MD&A is a good starting place for understanding information in the financial statements. In particular, the forward-looking disclosures in




Flashcard 1474094828812

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Question
The [...] is a good starting place for understanding information in the financial statements
Answer
management commentary or MD&A


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The management commentary or MD&A is a good starting place for understanding information in the financial statements

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3.1.6. Management Commentary or Management’s Discussion and Analysis
ions. Companies should also provide disclosure in the MD&A that discusses the critical accounting policies that require management to make subjective judgments and that have a significant impact on reported financial results. <span>The management commentary or MD&A is a good starting place for understanding information in the financial statements. In particular, the forward-looking disclosures in an MD&A, such as those about planned capital expenditures, new store openings, or divestitures, can be useful in projecting a comp







#cfa-level-1 #reading-22-financial-statement-analysis-intro
In particular, the forward-looking disclosures in an MD&A, such as those about planned capital expenditures, new store openings, or divestitures, can be useful in projecting a company’s future performance.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
e management to make subjective judgments and that have a significant impact on reported financial results. The management commentary or MD&A is a good starting place for understanding information in the financial statements. <span>In particular, the forward-looking disclosures in an MD&A, such as those about planned capital expenditures, new store openings, or divestitures, can be useful in projecting a company’s future performance. However, the commentary is only one input for the analyst seeking an objective and independent perspective on a company’s performance and prospects. The management report i




A divestiture is the partial or full disposal of a business unit through sale, exchange, closure or bankruptcy. A divestiture most commonly results from a management decision to cease operating a business unit because it is not part of a core competency. However, it may also occur if a business unit is deemed to be redundant after a merger or acquisition, if the disposal of a unit increases the resale value of the firm, or if a court requires the sale of a business unit to improve market competition.

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Divestiture Definition | Investopedia
What is a 'Divestiture' <span>A divestiture is the partial or full disposal of a business unit through sale, exchange, closure or bankruptcy. A divestiture most commonly results from a management decision to cease operating a business unit because it is not part of a core competency. However, it may also occur if a business unit is deemed to be redundant after a merger or acquisition, if the disposal of a unit increases the resale value of the firm, or if a court requires the sale of a business unit to improve market competition. BREAKING DOWN 'Divestiture' A divestiture, in its simplest form, is the disposition or sale of an asset by a company. Divestitures are essentially a




A divestiture, in its simplest form, is the disposition or sale of an asset by a company.

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Divestiture Definition | Investopedia
after a merger or acquisition, if the disposal of a unit increases the resale value of the firm, or if a court requires the sale of a business unit to improve market competition. BREAKING DOWN 'Divestiture' <span>A divestiture, in its simplest form, is the disposition or sale of an asset by a company. Divestitures are essentially a way for a company to manage its portfolio of assets. As companies grow, they may find that they are trying to focus on too many lines of business, and the




#cfa-level-1 #reading-22-financial-statement-analysis-intro
However, the commentary is only one input for the analyst seeking an objective and independent perspective on a company’s performance and prospects.

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3.1.6. Management Commentary or Management’s Discussion and Analysis
ion in the financial statements. In particular, the forward-looking disclosures in an MD&A, such as those about planned capital expenditures, new store openings, or divestitures, can be useful in projecting a company’s future performance. <span>However, the commentary is only one input for the analyst seeking an objective and independent perspective on a company’s performance and prospects. The management report in the Annual Report 2009 of Volkswagen Group includes much information of potential interest to an analyst. The 78-page management report contains se




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Financial statements presented in companies’ annual reports are generally required to be audited (examined) by an independent accounting firm in accordance with specified auditing standards.

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3.1.7. Auditor’s Reports
Financial statements presented in companies’ annual reports are generally required to be audited (examined) by an independent accounting firm in accordance with specified auditing standards. The independent auditor then provides a written opinion on the financial statements. This opinion is referred to as the audit report. Audit reports take slightly different forms in diff




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Audits of financial statements may be required by contractual arrangement, law, or regulation.

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3.1.7. Auditor’s Reports
the financial statements. This opinion is referred to as the audit report. Audit reports take slightly different forms in different jurisdictions, but the basic components, including a specific statement of the auditor’s opinion, are similar. <span>Audits of financial statements may be required by contractual arrangement, law, or regulation. International standards for auditing have been developed by the International Auditing and Assurance Standards Board of the International Federation of Accountants. These s




#cfa-level-1 #reading-22-financial-statement-analysis-intro
International standards for auditing have been developed by the International Auditing and Assurance Standards Board of the International Federation of Accountants

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3.1.7. Auditor’s Reports
rent forms in different jurisdictions, but the basic components, including a specific statement of the auditor’s opinion, are similar. Audits of financial statements may be required by contractual arrangement, law, or regulation. <span>International standards for auditing have been developed by the International Auditing and Assurance Standards Board of the International Federation of Accountants. These standards have been adopted by many countries and are referenced in audit reports issued in those countries. Other countries, such as the United States, specify their own auditin




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Other countries, such as the United States, specify their own auditing standards.

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3.1.7. Auditor’s Reports
have been developed by the International Auditing and Assurance Standards Board of the International Federation of Accountants. These standards have been adopted by many countries and are referenced in audit reports issued in those countries. <span>Other countries, such as the United States, specify their own auditing standards. With the enactment of the Sarbanes–Oxley Act of 2002 in the United States, auditing standards for public companies are promulgated by the Public Company Accounting Oversight Board. &#13




#cfa-level-1 #reading-22-financial-statement-analysis-intro
With the enactment of the Sarbanes–Oxley Act of 2002 in the United States, auditing standards for public companies are promulgated by the Public Company Accounting Oversight Board

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3.1.7. Auditor’s Reports
the International Federation of Accountants. These standards have been adopted by many countries and are referenced in audit reports issued in those countries. Other countries, such as the United States, specify their own auditing standards. <span>With the enactment of the Sarbanes–Oxley Act of 2002 in the United States, auditing standards for public companies are promulgated by the Public Company Accounting Oversight Board. Under international standards for auditing (ISAs), the objectives of an auditor in conducting an audit of financial statements are To obtain reasonabl




#cfa-level-1 #reading-22-financial-statement-analysis-intro

Under international standards for auditing (ISAs), the objectives of an auditor in conducting an audit of financial statements are

  1. To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, thereby enabling the auditor to express an opinion on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework; and

  2. To report on the financial statements, and communicate as required by the ISAs, in accordance with the auditor’s findings.8

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3.1.7. Auditor’s Reports
ed States, specify their own auditing standards. With the enactment of the Sarbanes–Oxley Act of 2002 in the United States, auditing standards for public companies are promulgated by the Public Company Accounting Oversight Board. <span>Under international standards for auditing (ISAs), the objectives of an auditor in conducting an audit of financial statements are To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, thereby enabling the auditor to express an opinion on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework; and To report on the financial statements, and communicate as required by the ISAs, in accordance with the auditor’s findings.8 Publicly traded companies may also have requirements set by regulators or stock exchanges, such as appointing an independent audit committee within its board of dir




#cfa-level-1 #reading-22-financial-statement-analysis-intro
Publicly traded companies may also have requirements set by regulators or stock exchanges, such as appointing an independent audit committee within its board of directors to oversee the audit process.

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3.1.7. Auditor’s Reports
ial respects, in accordance with an applicable financial reporting framework; and To report on the financial statements, and communicate as required by the ISAs, in accordance with the auditor’s findings.8 <span>Publicly traded companies may also have requirements set by regulators or stock exchanges, such as appointing an independent audit committee within its board of directors to oversee the audit process. The audit process provides a basis for the independent auditor to express an audit opinion on whether the information presented in the audited financial statements present fairly the fi




Flashcard 1474118421772

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Question
[...] ISAs
Answer
international standards for auditing


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international standards for auditing (ISAs

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3.1.7. Auditor’s Reports
tes, specify their own auditing standards. With the enactment of the Sarbanes–Oxley Act of 2002 in the United States, auditing standards for public companies are promulgated by the Public Company Accounting Oversight Board. Under <span>international standards for auditing (ISAs), the objectives of an auditor in conducting an audit of financial statements are To obtain reasonable assurance about whether the financial statements as a whole a







#cfa-level-1 #reading-22-financial-statement-analysis-intro
The audit process provides a basis for the independent auditor to express an audit opinion on whether the information presented in the audited financial statements present fairly the financial position, performance, and cash flows of the company in accordance with a specified set of accounting standards.

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3.1.7. Auditor’s Reports
auditor’s findings.8 Publicly traded companies may also have requirements set by regulators or stock exchanges, such as appointing an independent audit committee within its board of directors to oversee the audit process. <span>The audit process provides a basis for the independent auditor to express an audit opinion on whether the information presented in the audited financial statements present fairly the financial position, performance, and cash flows of the company in accordance with a specified set of accounting standards. Because audits are designed and conducted using audit sampling techniques and financial statement line items may be based on estimates and assumptions, independent auditors cannot expre




#cfa-level-1 #reading-22-financial-statement-analysis-intro
the independent audit report provides reasonable assurance that the financial statements are fairly presented, meaning that there is a high probability that the audited financial statements are free from materialerror, fraud, or illegal acts that have a direct effect on the financial statements.

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3.1.7. Auditor’s Reports
ing techniques and financial statement line items may be based on estimates and assumptions, independent auditors cannot express an opinion that provides absolute assurance about the accuracy or precision of the financial statements. Instead, <span>the independent audit report provides reasonable assurance that the financial statements are fairly presented, meaning that there is a high probability that the audited financial statements are free from materialerror, fraud, or illegal acts that have a direct effect on the financial statements. The standard independent audit report for a publicly traded company normally has several paragraphs under both the international and US auditing standards. The first or “in




#cfa-level-1 #reading-22-financial-statement-analysis-intro
The first or “introductory” paragraph describes the financial statements that were audited and the responsibilities of both management and the independent auditor.

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3.1.7. Auditor’s Reports
d, or illegal acts that have a direct effect on the financial statements. The standard independent audit report for a publicly traded company normally has several paragraphs under both the international and US auditing standards. <span>The first or “introductory” paragraph describes the financial statements that were audited and the responsibilities of both management and the independent auditor. The second or “scope” paragraph describes the nature of the audit process and provides the basis for the auditor’s expression about reasonable assurance on the fairness of the financial




#cfa-level-1 #reading-22-financial-statement-analysis-intro
The second or “scope” paragraph describes the nature of the audit process and provides the basis for the auditor’s expression about reasonable assurance on the fairness of the financial statements.

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3.1.7. Auditor’s Reports
has several paragraphs under both the international and US auditing standards. The first or “introductory” paragraph describes the financial statements that were audited and the responsibilities of both management and the independent auditor. <span>The second or “scope” paragraph describes the nature of the audit process and provides the basis for the auditor’s expression about reasonable assurance on the fairness of the financial statements. The third or “opinion” paragraph expresses the auditor’s opinion on the fairness of the audited financial statements. An unqualified audit opinion states that the financial




#cfa-level-1 #reading-22-financial-statement-analysis-intro
The third or “opinion” paragraph expresses the auditor’s opinion on the fairness of the audited financial statements.

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3.1.7. Auditor’s Reports
both management and the independent auditor. The second or “scope” paragraph describes the nature of the audit process and provides the basis for the auditor’s expression about reasonable assurance on the fairness of the financial statements. <span>The third or “opinion” paragraph expresses the auditor’s opinion on the fairness of the audited financial statements. An unqualified audit opinion states that the financial statements give a “true and fair view” (international) or are “fairly presented” (international and US) in accordance




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Question
An [...] opinion states that the financial statements give a “true and fair view” (international) or are “fairly presented” (international and US) in accordance with applicable accounting standards
Answer
unqualified audit


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An unqualified audit opinion states that the financial statements give a “true and fair view” (international) or are “fairly presented” (international and US) in accordance with applicable accounting standa

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3.1.7. Auditor’s Reports
the basis for the auditor’s expression about reasonable assurance on the fairness of the financial statements. The third or “opinion” paragraph expresses the auditor’s opinion on the fairness of the audited financial statements. <span>An unqualified audit opinion states that the financial statements give a “true and fair view” (international) or are “fairly presented” (international and US) in accordance with applicable accounting standards. This is often referred to as a “clean” opinion and is the one that analysts would like to see in a financial report. There are several other types of opinions. A qualified audit opinio







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Question
This is often referred to as a “clean” opinion and is the one that analysts would like to see in a financial report...
Answer
An unqualified audit opinion


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3.1.7. Auditor’s Reports
the basis for the auditor’s expression about reasonable assurance on the fairness of the financial statements. The third or “opinion” paragraph expresses the auditor’s opinion on the fairness of the audited financial statements. <span>An unqualified audit opinion states that the financial statements give a “true and fair view” (international) or are “fairly presented” (international and US) in accordance with applicable accounting







Flashcard 1474137296140

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Question
A [...] opinion is one in which there is some scope limitation or exception to accounting standards.
Answer
qualified audit


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A qualified audit opinion is one in which there is some scope limitation or exception to accounting standards.

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3.1.7. Auditor’s Reports
sented” (international and US) in accordance with applicable accounting standards. This is often referred to as a “clean” opinion and is the one that analysts would like to see in a financial report. There are several other types of opinions. <span>A qualified audit opinion is one in which there is some scope limitation or exception to accounting standards. Exceptions are described in the audit report with additional explanatory paragraphs so that the analyst can determine the importance of the exception. An adverse audit opinion is issued







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In a Qualified audit opinion exceptions are described in the audit report with additional explanatory paragraphs so that the analyst can determine the importance of the exception.

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3.1.7. Auditor’s Reports
a “clean” opinion and is the one that analysts would like to see in a financial report. There are several other types of opinions. A qualified audit opinion is one in which there is some scope limitation or exception to accounting standards. <span>Exceptions are described in the audit report with additional explanatory paragraphs so that the analyst can determine the importance of the exception. An adverse audit opinion is issued when an auditor determines that the financial statements materially depart from accounting standards and are not fairly presented. An adverse opinion




Flashcard 1474142276876

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Question
An [...] is issued when an auditor determines that the financial statements materially depart from accounting standards and are not fairly presented.
Answer
adverse audit opinion


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An adverse audit opinion is issued when an auditor determines that the financial statements materially depart from accounting standards and are not fairly presented.

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3.1.7. Auditor’s Reports
pinion is one in which there is some scope limitation or exception to accounting standards. Exceptions are described in the audit report with additional explanatory paragraphs so that the analyst can determine the importance of the exception. <span>An adverse audit opinion is issued when an auditor determines that the financial statements materially depart from accounting standards and are not fairly presented. An adverse opinion makes analysis of the financial statements easy: Do not bother analyzing these statements, because the company’s financial statements cannot be relied on. Finally, a







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An adverse opinion makes analysis of the financial statements easy: Do not bother analyzing these statements, because the company’s financial statements cannot be relied on.

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3.1.7. Auditor’s Reports
aragraphs so that the analyst can determine the importance of the exception. An adverse audit opinion is issued when an auditor determines that the financial statements materially depart from accounting standards and are not fairly presented. <span>An adverse opinion makes analysis of the financial statements easy: Do not bother analyzing these statements, because the company’s financial statements cannot be relied on. Finally, a disclaimer of opinion occurs when, for some reason, such as a scope limitation, the auditors are unable to issue an opinion. Exhibit 10 presents the independent auditor’s rep




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a disclaimer of opinion occurs when, for some reason, such as a scope limitation, the auditors are unable to issue an opinion.

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3.1.7. Auditor’s Reports
art from accounting standards and are not fairly presented. An adverse opinion makes analysis of the financial statements easy: Do not bother analyzing these statements, because the company’s financial statements cannot be relied on. Finally, <span>a disclaimer of opinion occurs when, for some reason, such as a scope limitation, the auditors are unable to issue an opinion. Exhibit 10 presents the independent auditor’s report for Volkswagen. Note that Volkswagen received an unqualified or clean audit opinion from PricewaterhouseCoopers for the company’s fi




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Although management has always been responsible for maintaining effective internal control, the Sarbanes–Oxley Act greatly increases management’s responsibility for demonstrating that the company’s internal controls are effective

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3.1.7. Auditor’s Reports
a paragraph in the opinion related to the financial statements. The internal control system is the company’s internal system that is designed, among other things, to ensure that the company’s process for generating financial reports is sound. <span>Although management has always been responsible for maintaining effective internal control, the Sarbanes–Oxley Act greatly increases management’s responsibility for demonstrating that the company’s internal controls are effective. Management of publicly traded companies in the United States are now required by securities regulators to explicitly accept responsibility for the effectiveness of internal control, ev




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Although Auditors reports and attestations provide some assurances to analysts, they are not infallible. The analyst must always use a degree of healthy skepticism when analyzing financial statements

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3.1.7. Auditor’s Reports
ility for the effectiveness of internal control, evaluate the effectiveness of internal control using suitable control criteria, support the evaluation with sufficient competent evidence, and provide a report on internal control. <span>Although these reports and attestations provide some assurances to analysts, they are not infallible. The analyst must always use a degree of healthy skepticism when analyzing financial statements. <span><body><html>




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Question
The information described is generally provided to shareholders at least [...]
Answer
annually.


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The information described is generally provided to shareholders at least annually.

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3.2. Other Sources of Information
The information described in Section 3.1 is generally provided to shareholders at least annually. In addition, companies also provide information on management and director compensation, company stock performance, and any potential conflicts of interest that may exist between manage







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companies also provide information on management and director compensation, company stock performance, and any potential conflicts of interest that may exist between management, the board, and shareholders.

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3.2. Other Sources of Information
The information described in Section 3.1 is generally provided to shareholders at least annually. In addition, companies also provide information on management and director compensation, company stock performance, and any potential conflicts of interest that may exist between management, the board, and shareholders. This information may appear in the company’s annual report or other publicly available documents. Public companies often provide this information in proxy statements, which are statemen




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Public companies often provide other sources of information in proxy statements, which are statements distributed to shareholders about matters that are to be put to a vote at the company’s annual (or special) meeting of shareholders.

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3.2. Other Sources of Information
compensation, company stock performance, and any potential conflicts of interest that may exist between management, the board, and shareholders. This information may appear in the company’s annual report or other publicly available documents. <span>Public companies often provide this information in proxy statements, which are statements distributed to shareholders about matters that are to be put to a vote at the company’s annual (or special) meeting of shareholders. Interim reports are also provided by the company either semiannually or quarterly, depending on the applicable regulatory requirements. Interim reports generally present th




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Question
[...] are statements distributed to shareholders about matters that are to be put to a vote at the company’s annual (or special) meeting of shareholders.
Answer
proxy statements


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Public companies often provide other sources of information in proxy statements, which are statements distributed to shareholders about matters that are to be put to a vote at the company’s annual (or special) meeting of shareholders.

Original toplevel document

3.2. Other Sources of Information
compensation, company stock performance, and any potential conflicts of interest that may exist between management, the board, and shareholders. This information may appear in the company’s annual report or other publicly available documents. <span>Public companies often provide this information in proxy statements, which are statements distributed to shareholders about matters that are to be put to a vote at the company’s annual (or special) meeting of shareholders. Interim reports are also provided by the company either semiannually or quarterly, depending on the applicable regulatory requirements. Interim reports generally present th







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Interim reports generally present the four basic financial statements and condensed notes but are not audited. These interim reports provide updated information on a company’s performance and financial position since the last annual period.

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3.2. Other Sources of Information
rs that are to be put to a vote at the company’s annual (or special) meeting of shareholders. Interim reports are also provided by the company either semiannually or quarterly, depending on the applicable regulatory requirements. <span>Interim reports generally present the four basic financial statements and condensed notes but are not audited. These interim reports provide updated information on a company’s performance and financial position since the last annual period. Companies also provide relevant current information on their websites, in press releases, and in conference calls with analysts and investors. One type of press release, wh




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Companies also provide relevant current information on their websites, in press releases, and in conference calls with analysts and investors

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3.2. Other Sources of Information
orts generally present the four basic financial statements and condensed notes but are not audited. These interim reports provide updated information on a company’s performance and financial position since the last annual period. <span>Companies also provide relevant current information on their websites, in press releases, and in conference calls with analysts and investors. One type of press release, which analysts often consider to be particularly important, is the periodic earnings announcement. The earnings announcement often happens well before the co




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Question
One type of press release, which analysts often consider to be particularly important, is the [...]
Answer
periodic earnings announcement.


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One type of press release, which analysts often consider to be particularly important, is the periodic earnings announcement.

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3.2. Other Sources of Information
mation on a company’s performance and financial position since the last annual period. Companies also provide relevant current information on their websites, in press releases, and in conference calls with analysts and investors. <span>One type of press release, which analysts often consider to be particularly important, is the periodic earnings announcement. The earnings announcement often happens well before the company files its formal financial statements. Such earnings announcements are often followed by a conference call in which the c







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Such earnings announcements are often followed by a conference call in which the company’s senior executives describe the company’s performance and answer questions posed by conference call participants.

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3.2. Other Sources of Information
nd investors. One type of press release, which analysts often consider to be particularly important, is the periodic earnings announcement. The earnings announcement often happens well before the company files its formal financial statements. <span>Such earnings announcements are often followed by a conference call in which the company’s senior executives describe the company’s performance and answer questions posed by conference call participants. Following the earnings conference call, the investor relations portion of the company’s website may post a recording of the call accompanied by slides and supplemental information discu




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Following the earnings conference call, the investor relations portion of the company’s website may post a recording of the call accompanied by slides and supplemental information discussed during the call.

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3.2. Other Sources of Information
files its formal financial statements. Such earnings announcements are often followed by a conference call in which the company’s senior executives describe the company’s performance and answer questions posed by conference call participants. <span>Following the earnings conference call, the investor relations portion of the company’s website may post a recording of the call accompanied by slides and supplemental information discussed during the call. When performing financial statement analysis, analysts should review all these company sources of information as well as information from external sources regarding the eco




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When performing financial statement analysis, analysts should review all these company sources of information as well as information from external sources regarding the economy, the industry, the company, and peer (comparable) companies.

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3.2. Other Sources of Information
nce call participants. Following the earnings conference call, the investor relations portion of the company’s website may post a recording of the call accompanied by slides and supplemental information discussed during the call. <span>When performing financial statement analysis, analysts should review all these company sources of information as well as information from external sources regarding the economy, the industry, the company, and peer (comparable) companies. Information on the economy, industry, and peer companies is useful in putting the company’s financial performance and position in perspective and in assessing the company’s future. In m




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Information on the economy, industry, and peer companies is useful in putting the company’s financial performance and position in perspective and in assessing the company’s future.

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3.2. Other Sources of Information
13; When performing financial statement analysis, analysts should review all these company sources of information as well as information from external sources regarding the economy, the industry, the company, and peer (comparable) companies. <span>Information on the economy, industry, and peer companies is useful in putting the company’s financial performance and position in perspective and in assessing the company’s future. In most cases, information from sources apart from the company is crucial to an analyst’s effectiveness. For example, an analyst studying a consumer-oriented company will typically seek




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In most cases, information from sources apart from the company is crucial to an analyst’s effectiveness.

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3.2. Other Sources of Information
, the industry, the company, and peer (comparable) companies. Information on the economy, industry, and peer companies is useful in putting the company’s financial performance and position in perspective and in assessing the company’s future. <span>In most cases, information from sources apart from the company is crucial to an analyst’s effectiveness. For example, an analyst studying a consumer-oriented company will typically seek direct experience with the products (taste the food or drink, use the shampoo or soap, visit the stores




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For example, an analyst studying a consumer-oriented company will typically seek direct experience with the products (taste the food or drink, use the shampoo or soap, visit the stores or hotels)

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3.2. Other Sources of Information
eer companies is useful in putting the company’s financial performance and position in perspective and in assessing the company’s future. In most cases, information from sources apart from the company is crucial to an analyst’s effectiveness. <span>For example, an analyst studying a consumer-oriented company will typically seek direct experience with the products (taste the food or drink, use the shampoo or soap, visit the stores or hotels). An analyst following a highly regulated industry will study the existing and expected relevant regulations. An analyst following a highly technical industry will gain relevant expertis




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An analyst following a highly regulated industry will study the existing and expected relevant regulations.

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3.2. Other Sources of Information
any is crucial to an analyst’s effectiveness. For example, an analyst studying a consumer-oriented company will typically seek direct experience with the products (taste the food or drink, use the shampoo or soap, visit the stores or hotels). <span>An analyst following a highly regulated industry will study the existing and expected relevant regulations. An analyst following a highly technical industry will gain relevant expertise personally or seek input from a technical specialist. In sum, thorough research goes beyond financial repor




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An analyst following a highly technical industry will gain relevant expertise personally or seek input from a technical specialist. In sum, thorough research goes beyond financial reports.

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3.2. Other Sources of Information
ill typically seek direct experience with the products (taste the food or drink, use the shampoo or soap, visit the stores or hotels). An analyst following a highly regulated industry will study the existing and expected relevant regulations. <span>An analyst following a highly technical industry will gain relevant expertise personally or seek input from a technical specialist. In sum, thorough research goes beyond financial reports. The next section presents a framework for using all this information in financial statement analysis. <span><body><html>