Canada

[Feelings]

http://business.financialpost.com/2012/01/20/canadas-banks-get-boost-from-ifrs/

The life insurance industry doesn

 

[bickelz]

I don't get it. Wouldn't any competent analyst make adjustments based on the accounting standards that were followed in preparing the financials?

I'm not really sure what this is talking about but analysts just analyze information from financial statements which are prepared by accountants. Analysts need a knowledge of accounting but they don't have to know all the minute differences between GAAP and the standards Europe uses.

 

[Feelings]

I'm not really sure what this is talking about but analysts just analyze information from financial statements which are prepared by accountants. Analysts need a knowledge of accounting but they don't have to know all the minute differences between GAAP and the standards Europe uses.

I'm studying to be a financial analyst, and the accounting section is pretty detailed. This level alone covers inventory costing, depreciating capitalizing and expensing of long lived assets, operating leases, off balance sheet financing, intercorporate investments, pension accounting, adjustments for foreign exchange in multinational operations, deferred tax liabilities, accounting for derivates used as hedges, and the IFRS and US GAAP differences for each. We're supposed to be able to adjust for IFRS and US GAAP differences.

 

[bickelz]

I'm studying to be a financial analyst, and the accounting section is pretty detailed. This level alone covers inventory costing, depreciating capitalizing and expensing of long lived assets, operating leases, off balance sheet financing, intercorporate investments, pension accounting, adjustments for foreign exchange in multinational operations, deferred tax liabilities, accounting for derivates used as hedges, and the IFRS and US GAAP differences for each. We're supposed to be able to adjust for IFRS and US GAAP differences.

Same same, I'm hoping to get into financial analysis too. I'm not very far along in my study but to be honest, I'm not sure how much you exactly need to know because I've been told that accountants can talk for hours on end about the differences. I think it really depends on your specialty. If you have a CPA, you should probably know these things but if you've majored in economics, I would doubt a second year analyst would know all about it.

Ignoring certain accounting differences might be assumptions that are built into models. Going back and trying to re-account all of someones books seems weird to me so long as you don't work in accounting but I could be completely wrong.