Income statements (Reading 25) is a big ass topic single, content, statements, understand, multiple

evolsteevol

For this reading, the LOS c and d (Revenue and Expense recognition) have a lot of content for just a single LOS. Then theres calculating EPS, another LOS where you spend a lot of time to understand the formula
In the exam, are there multiple questions for a single LOS? There are total of 559 LOS in Level 1. Has anyone skipped an LOS just so they could avoid the burden of having to understand that LOS

cv4cfa

truthfully, as daunting as it is, these arent too difficult of concepts..and if u think this one has a lot, wait until u get to financial analysis techniques…theres about 30 formulas…i made like 40 flash cards for that section alone…remember that FRA is 20%…u need to know this stuff..
however..i think once you start doing practice questions you’ll realize that its not as difficult as you think…theres a lot of information to help you understand it conceptually
im using schweser and they gave 2 weeks for that study session, thats the first time a SS was scheduled to last more than a week so far…same thing with the next one covering inventories, long lived assets, taxes, etc..the tips have been to go through it…do some practice problems…start over..do some problems..watch the lectures..do some problems..etc

hardwork24

It would be unwise to skip the revenue and expense recognition section.  Those are easy points on the exam.

MiniMe7

FRA is one of those make or break sections.  If you dont have a strong background in it, I’d make sure I know it well.