CFA二級原科目名稱“Corporate Finance” 修改為 “Corporate Issuers”，那2022年CFA二級這個科目的考綱有怎樣的變化？考生報考2022年CFA二級考試如何學(xué)習(xí)呢？跟著融躍一起看看二級考試科目的變化！

Reading順序調(diào)整：Capital Budgeting從第1個reading調(diào)整為zui后一個reading，接下來跟著小編一起看看各個章節(jié)的變化！

READING 15. CAPITAL STRUCTURE

a) explain the Modigliani—Miller propositions regarding capital structure;

b) explain the effects on costs of capital and capital structure decisions of taxes, financial distress, agency costs, and asymmetric information;

原有a條款分拆為現(xiàn)有的a、b兩個條款，表述上方式稍有變化

原有的b和c條款刪除：b) describe target capital structure and explain why a company's actual capital structure may fluctuate around its target;  c) describe the role of debt ratings in capital structure policy;

READING 16. ANALYSIS OF DIVIDENDS AND SHARE REPURCHASES

d) explain how agency costs may affect a company's payout policy;

g) compare stable dividend with constant dividend payout ratio, and calculate the dividend under each policy;

d條款中刪除了clientele effects ；g條款刪除了residual dividend payout policies的對比;


READING 17名字修改成:ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) CONSIDERATIONS IN INVESTMENT ANALYSIS

READING 18的其中一位作者：Keith M. Moore,增加了 PhD的頭銜。

c條款把earning per share改成了EPS;

原來的g, i ,j條款刪除；g條款是有關(guān)HHI和反壟斷的內(nèi)容；i 條款是有關(guān)用自由現(xiàn)金流對目標(biāo)公司進(jìn)行估值；j條款主要是用可比較公司和可比較交易進(jìn)行估值；

h條款刪除了calculate the estimated post-acquisition value of an acquirer and the gains accrued to the target shareholders;

READING 19. CAPITAL BUDGETING

e) describe types of real options relevant to a capital project;

原有的e條款刪除，主要內(nèi)容為關(guān)于敏感性分析、情景分析和蒙特 卡洛模擬對于資本項目風(fēng)險的估計；

新的e條款刪除了evaluate a capital project using real options;

原有的h, i條款刪除。h條款是關(guān)于計算和解釋accounting income 和 economic income; i 條款是關(guān)于區(qū)分 EP、Rl、claim valuation model相關(guān)內(nèi)容。