重拳！2023年CFA二级考试大纲出炉，这类科目变化大要重点关注！参加2023年CFA考试的考友应该注意啦，2023年CFA二级考试大纲有变化，建议延期的考生以最新的考试大纲为复习标准。
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1、考试大纲变动说明
1.各科目考试网站权重和去年一致，没发生变化
2.取消了之前Reading的定义，改为了目前的module，从而更好地与官方网站学习系统契合。
2、考试大纲变动详细情况
1.考试大纲细节无变动的科目
固收：原来的5个Reading现调整为5个Learning Module。考试大纲细节无变动。道德：原来的3个Reading现调整为3个Learning Module。考试大纲细节无变动。衍生：原来的2个Reading现调整为2个Learning Module。考试大纲细节无变动，仅顺序有肯定微调。经济：原来的3个Reading现调整为3个Learning Module。考试大纲细节无变动。仅将原Reading 7 Economic growth and the investment decision的标题变成Learning Module 2 Economic growth，考试大纲细节内容无变动。另类：原来的3个Reading现调整为5个Learning Module。考试大纲细节无变动。但新考试大纲Module 3 LOS a-b，将原考试大纲k,l中对REITS的描述改为publicly traded real estate securities。2.考试大纲细节删除的科目
组合：原来的7个Reading现调整为7个Learning Module。
原Reading 42 Economics and investment markets对应的是Learning Module 5。
其中删除去一条考试大纲k describe how economic analysis is used in sector rotation strategies。
权益：原来的8个Reading现调整为4个Learning Module。
删除Reading 21 Return concepts收益定义和Reading 22 Industry and company analysis公司和行业剖析，其余部分考试大纲细节不变，仅考试大纲顺序进行了微调。
3.考试大纲细节新增的科目
财报：原来的6个Reading现调整为7个Learning Module。
新增考试大纲：Financial Statement Modeling财务报表建模
全章节新增，部分内容与2022年权益Reading 22 Industry and company analysis行业和公司剖析接近。
新增考试大纲细节如下：
（1）compare TOP-down,bottom-up,and hybrid approaches for developing inputs to equity valuation models
（2）comparegrowth relative to GDP growthandmarket growth and market shareapproaches to forecasting revenue
（3）*uate whether economies of scale are present in an industry by analyzing operating margins and sales levels
（4）demonstrate methods to forecast cosplayt of goods sold and operating expenses
（5）demonstrate methods to forecast non-operating items,financing cosplayts,and income taxes
（6）describe approaches to balance sheet modeling
（7）demonstrate the development of a sales-based pro forma company model
（8）explain how behavioral factors affect analyst forecasts and recommend remedial actions for analyst biases
（9）explain how competitive factors affect prices and cosplayts
（10）*uate the competitive position of a company based on a Porters five forces analysis
（11）explain how to forecast industry and company sales and cosplayts when they are subject to price inflation or deflation
（12）*uate the effects of technological developments on demand,selling prices,cosplayts,and margins
（13）explain considerations in the choice of an explicit forecast horizon
（14）explain an analysts choices in developing projections beyond the short-term forecast horizon
数目：原来的5个Reading现调整为7个Learning Module。
删除原Reading 1 Introduction to linear regression一元线性回归内容下放到一级数目中的最后一个模块。
原Reading 2 Multiple regression多元回归内容拆分成4个模块module 1-module 4。
与原Reading 2考试大纲细节做比对，考试大纲的顺序、表示和要点都有较大变化，部分考试大纲进行了拆分，变化结果如下：
考试大纲删除3条：
（1）formulate a null and an alternative hypothesis about the population value of.a regression coefficient,calculate the value of the test statistic,and determine whether to reject the null hypothesis at a given level of significance;
（2）interpret the results of hypothesis tests of regression coefficients;
（3）*uate and interpret a multiple regression model and its results.
考试大纲新增2条：
（1）describe the types of investment problems addressed by multiple linear regression and the regression process
（2）describe influence analysis and methods of detecting influential data points
原Reading 4对应的是module 6。其新增了一条考试大纲f describe supervised machine learning,unsupervised machine learning,and deep learning.
公司金融：考试大纲变动最大的科目。原来的5个Reading现调整为4个Learning Module。
删除原Reading 15 Capital Structure资本结构章节和Reading 19 Capital Budgeting资本预算章节，精简并下放到一级。
新增：cosplayt of Capital:Advanced Topics
新增考试大纲细节如下：
（1）explain TOP-down and bottom-up factors that impact the cosplayt of capital
（2）Compare methods used to estimate the cosplayt of debt.
（3）explain historical and forward-looking approaches to estimating an equity risk
premium
（4）compare methods used to estimate the required return on equity
（5）estimate the cosplayt of debt or required return on equity for a public company and a private company
（6）*uate a companys capital structure and cosplayt of capital relative to peers
原Reading 18 Measures and Acquisitions兼并回收章节调整为Learnings Module 4 Corporate Restructurings企业重组，章节内容完全重写，新增内容为各种公司重组事件、他们的剖析和纳入财务模型的预测和估值。
企业重组模块考试大纲细节如下：
（1）explain types of corporate restructurings and issuersmotivations for pursuing them
（2）explain the initial *uation of a corporate restructuring
（3）demonstrate valuation methods for,and interpret valuations of,companies involved in corporate restructurings
（4）demonstrate how corporate restructurings affect an issuers EPS,net debt to EBITDA ratio,and weighted average cosplayt of capital
（5）*uate corporate investment actions,including equity investments,joint ventures,and acquisitions
（6）*uate corporate divestment actions,including sales and spin offs*uate cosplayt and balance sheet restructurings
3、考试大纲变动概要
虽然CFA二级考试大纲中有新增的部分，但也有部分考试大纲被删除，整体困难程度并没增加，所以大伙也不需要恐慌。
对于备考小白来讲，不需要太过关注之前的考试大纲，仅需根据新考试大纲去备考即可。
对于二战考生来讲，则需要关注一下组合和权益科目中删除的考试大纲，防止增加学习负担。除此之外需要特别注意：财报、数目和公金科目，特别是变动幅度最大的公金。
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