CFAI 2024 EQ M7

based on independent third-party reports

2. based on individual discrete items, not aggregations

2. disclosed regularly or based on items that are disclosed regularly

1. capital expenditures of a company

1. pricing of commodities sold by a company

1. revenue of a company sensitive to the business cycle

1. Market share of routes

1. Number of planes in fleet

1. Average ticket price per mile flown

1. Historical results

1. Analyst’s discretionary forecast

1. Historical base rates and convergence

Drivers of financial statement lines

Individual financial statement line

Summary measures

Ad hoc Objects

4

5

6

7

The investment strategy for which the security is being considered.

The analyst’s employee’s preferences.

Company-specific factors: long enough to allow the benefits of the changes to be measurable

macro variables

individual company

reportable segments

Recurring items and effects should be excluded from a forecast object

and considered separately

Non-recurring items and effects should be included from a forecast object

and considered separately

Non-recurring items and effects should be excluded from a forecast object

and do not need to consider

Non-recurring items and effects should be excluded from a forecast object

and considered separately

Historical results

Historical base rate and convergence

Management guidance

Analyst’s discretionary forecast