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Financial Reporting Part 1

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Difficulty:All Levels

Course Syllabus

01

CFA Level 2: Financial Reporting Part 1 - Introduction

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02

Financial Reporting: Important Definitions

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03

FIFO and LIFO Methods for Inventory Expensing

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04

Inventory Accounting and Financial Statements

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05

Inflation/Deflation and Inventory Accounting Analysis

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06

LIFO – Tax and Cash Flow Note

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07

LIFO Reserve and Converting LIFO Net Income to FIFO Net Income

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08

LIFO Liquidation

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09

Inventory at Net Realizable Value

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10

Impacts of LIFO and FIFO Inventory Methods on Selected Financial Ratios

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11

Accounting of Long-lived Assets - Expensing vs. Capitalizing

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12

Depreciation Methods for Property, Plant, and Equipment (PPE)

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13

Impact of Depreciation Method

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14

Depreciation - Important Points

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15

Impairment of Long-lived Assets

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16

Impact of Asset Impairment

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17

Revaluation of Property, Plant, & Equipment (PPE)

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18

Leasing versus Purchasing Assets

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19

Traditional Lessee Accounting in US GAAP

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20

Effects of Leases on Selected Financial Reporting Items for Lessees

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21

Lessor Accounting for Leases

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22

Lessors and Sales-Type Capital Leases

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23

Lessors and Direct Financing Capital Leases

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24

Effect of Leases on Financial Statements for Lessors

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25

Future of Lease Accounting

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26

CFA Level 2: Financial Reporting 1 - Recommendations

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Topics Covered
📊 Financial Analysis
📑 Financial Statements
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