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SASB FSA Level 1 (2024 / 2025) Actual Questions and Verified Answers, 100% Guarantee Pass
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SASB FSA Level 1 (2024 / 2025) Actual Questions and Verified Answers, 100% Guarantee Pass Brundtland Report: Published in 1987 in the influential report "Our Common Future" and created by World Commision on Environment and Development of the UN. Discusses sustainable development and the triple bo...

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  • November 18, 2024
  • 35
  • 2024/2025
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SASB FSA Level 1.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/SASB%20FSA%




SASB FSA Level 1



1. Brundtland Report: Published in 1987 in the influential report "Our Common

Future" and created by World Commision on Environment and Development of the

UN. Discusses sustainable development and the triple bottom line for the first time.

2. European Commission's Action Plan for Financial Sustainable Growth: 3

core strategies:

-reorienting capital flows towards a more sustainable economy

-mainstreaming sustainability into risk management

-fostering transparency and long-termism

3. Stock Market Crash of 1929: historical example about how a lack of transparen- cy

and public reporting can have disastrous consequences

4. US SEC/Securities and Exchange Commission: Protects investors, maintains fair,

orderly, and efficient markets, and facilitates capital formation






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5. materiality (as defined by the US Supreme Court): information is material if

its exclusion would have altered the "total mix" of information considered by a

reasonable investor

6. GAAP: Generally Accepted Accounting Principles

7. historical cost accounting: measured the value of an asset as the actual cost paid

at the time of purchase

-original nominal value of asset reported on balance sheet, even if the asset's value has

changed over time

8. Accounting Principles Board (APB): replaced CAP to resolve tensions, reduce

variation in accounting practices, and establish one standardized practice

9. A statement of basic accounting theory: 1960s report that shifted focus of

financial reporting from strict historical asset valuation and toward decision useful-

ness of reported information to the users of the disclosed information

-"provide information which will be of assistance in making economic decisions"

10. FASB (Financial Accounting Standards Board): Founded to replace APB;






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identified goal of disclosure and accounting; affirmed decision-usefulness and em-

phasis on discounted future cash flows as way of valuing assets (as opposed to

historical cost accounting)

-also stated that economic and social goals of a business are equally important

11. EBITDA: Earnings before interest, taxes, depreciation, and amortization

12. 83%: how much tangible assets composed of market value of S&P 500 in 1975

13. 10%: how much tangible assets composed of market value of S&P 500 in 2020

14. IFRS Management Commentary: -Provide management's view of the entity's

performance, position, and progress

-supplement and complement information presented in financial statements

15. IASB 2017 guidance: "matters that could affect an entity's long-term prospects;

the entity's intangible resources and relationships; and ESG matters"









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16. KPI: Key Performance Indicator

17. US SEC on Management Disclosure and Analysis (MD&A): -focus on mate- rial

information

-include key performance indicators (including non-financial and metrics to improve

comparability to companies in other industries)

-disclose known trends and uncertainties that are reasonably likely

-analyze the information that is disclosed

18. ECA: environmental cost accounting - aims to analyze cause-and-effect rela-

tionships to identify the source of and measure environmental impacts

19. EP&L: environmental profit and loss statements - seeks to assign a monetary

value to the environmental costs associated with certain business activities

20. SRI: socially responsible investing

21. problem with short-termism: though increases market liquidity, persistent

short-termism may undermine the efficiency of capital markets and result in dimin-

ished public confidence and depressed returns





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