The Cheat Sheet articles are a series of articles, each focusing on one specific topic area of the CFA exam for one specific CFA level. In each Cheat Sheet article, we will cover the basics of what you need to know before diving into the material - what it's about in a nutshell, how significant is it in the CFA exams, real-life applications, and tips for the CFA exams. You should aim to read each relevant Cheat Sheet article before you start studying the topic area to get you to a flying start.
Financial Reporting and Analysis is one of the largest hurdles in the CFA exams, especially for Level I and Level II. This large topic area covers all manners of financial reporting techniques, conventions and policies, with an emphasis on comparability between companies. This is a big topic area, so make sure you pay extra attention to it!