FRA (CFA L1)

ask qs    Please explain the adjustment and the calculation of the answer, specifically why we are adding COGS to Net Income instead of deducting it, and why tax is included in the calculation.

is los(f) steps of fsa framework of chapter 1 of fsa is still in syllabus???

Company A, which reports using US GAAP, sold a piece of land to Company B for $10 million. The land cost $6 million. Company B made a $2 million down payment with the remaining balance to be paid over the ...