2020年CFA一级考试大纲对比去年的产生了比较大的变化，同学们在备考的时候一定要多加注意，下面泽稷财经将为大家带来CFA一级网课李老师总结的2021年CFA一级考纲变动对比。

　　一、道德

　　1.R1-Ethics and Trust in the Investment Profession

　　删除：

　　e.distinguish between ethical and legal standards.

　　增加：

　　c.describe professions and how they establish trust;

　　e.explain professionalism in investment management

　　g.distinguish between ethical and legalstandards;

　　二、数量

　　1.原 SS2 R7-Discount Cash Flow Application 整章删除

　　2.R8-Probability Concepts

　　删除：

　　k.calculate and interpret covariance and correlation;

　　增加： k.calculate and interpret covariance and correlation and interpret a scatterplot;

　　3.原 SS3 R13-Technical Analysis 整章移到【组合】

　　4.R11-Hypothesis Testing

　　【增加】：

　　k.formulate a test of the hypothesis that the population correlation coefficient equals zero and determine whether the hypothesis is rejected at a given level ofsignificance;

　　三、财报

　　1.R20-Financial Reporting Standards

　　【删除】

　　c.describe the status of global convergence of accounting standards and ongoing barriersto developing one universally accepted set of financial reporting standards;

　　f.compare key concepts of financial reporting standards under IFRS and US generally accepted accounting principles （US GAAP） reporting systems;

　　g.identify characteristics of a coherent financial reporting framework and the barriers to creating such a framework;

　　i.analyze company disclosures of significant accounting policies

　　2.R21-Understanding Income Statements

　　【删除】：

　　d.describe key aspects of the converged accounting standards for revenue recognition issued by the International Accounting Standards Board and Financial Accounting Standards Board in May 2014;

　　b.describe general principles of revenue recognition and accrual accounting, specific revenue recognition applications （including accounting for long-term contracts, installment sales, barter transactions, gross and net reporting of revenue）， and implications of revenue recognition principles for financial analysis;

　　【增加】：

　　b.describe general principles of revenue recognition and accounting standards for revenue recognition;

　　3.R26-Long-lived Assets

　　【删除】：

　　o.explain and evaluate how leasing rather than purchasing assets affectsfinancial statements and ratios;

　　p.explain and evaluate how finance leases and operating leases affect financial statements and ratios from the perspective of both the lessor and the lessee.

　　4.R28-Non-current Liabilities

　　【删除】：

　　g.distinguish between a finance lease and an operating lease from the perspectives of the lessor and the lessee;

　　h.determine the initial recognition, initial measurement, and subsequent measurement of finance leases;

　　i.compare the disclosures relating to finance and operating leases;

　　【增加】：

　　g.explain the financial reporting of leases from a lessee’s perspective;

　　h.explain the financial reporting of leases from a lessor’s perspective;

　　四、公司金融

　　1.R32-Capital Budgeting

　　【增加】：

　　f.contrast the NPV decision rule to the IRR decision rule and identify problems associated with the IRR rule;

　　固收：

　　1.R44-Introduction to fixed-income valuation

　　【增加】：

　　f.calculate annual yield on a bond for varying compounding periods in a year;

　　h.calculate and interpret yield measures for money market instruments;

　　衍生品：

　　1.R48-Drivative markets and instruments

　　【增加】：

　　d.determine the value at expiration and profit from a long or a short position in a call or put option;

　　2.R49-Basics of derivative pricing and valuation

　　【删减】：

　　i.explain how the value of a European option is determined at expiration;

　　【增加】：

　　c.calculate a forward price of an asset with zero, positive, or negative net cost of carry;

　　五、另类

　　1.R50-Introduction to alternative investments

　　【删减】：

　　b.describe categories of alternative investments;

　　组合： 1.R51-Portfolio management: an overview

　　【增加】：

　　e.describe aspects of the asset management industry;

　　2.R52-Portfolio risk and return: part i

　　【增加】：

　　b.compare the money-weighted and time-weighted rates of return and evaluate the performance of portfolios based on these measures

　　3.R54-Basics of portfolio planning and construction

　　【增加】：

　　h.describe how environmental, social, and governance （ESG） considerations may be integrated into portfolio planning and construction.

　　4.R56-Technical Analysis: 由数量整章搬过来。

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