- CFA Level 2: Financial Reporting Part 1 - Introduction
- Financial Reporting: Important Definitions
- FIFO and LIFO Methods for Inventory Expensing
- Inventory Accounting and Financial Statements
- Inflation/Deflation and Inventory Accounting Analysis
- LIFO – Tax and Cash Flow Note
- LIFO Reserve and Converting LIFO Net Income to FIFO Net Income
- LIFO Liquidation
- Inventory at Net Realizable Value
- Impacts of LIFO and FIFO Inventory Methods on Selected Financial Ratios
- Accounting of Long-lived Assets - Expensing vs. Capitalizing
- Depreciation Methods for Property, Plant, and Equipment (PPE)
- Impact of Depreciation Method
- Depreciation - Important Points
- Impairment of Long-lived Assets
- Impact of Asset Impairment
- Revaluation of Property, Plant, & Equipment (PPE)
- Leasing versus Purchasing Assets
- Traditional Lessee Accounting in US GAAP
- Effects of Leases on Selected Financial Reporting Items for Lessees
- Lessor Accounting for Leases
- Lessors and Sales-Type Capital Leases
- Lessors and Direct Financing Capital Leases
- Effect of Leases on Financial Statements for Lessors
- Future of Lease Accounting
- CFA Level 2: Financial Reporting 1 - Recommendations
Financial Reporting: Important Definitions
Financial Reporting: The act of providing statutorily mandated financial information to the investing public; different countries have different requirements and standards.
Long-term Assets: Include long lived assets and long-term investments, both of which are reported on the balance sheet.
Long-lived Assets: Refer to fixed assets (property, plant, and equipment - PPE), natural resources, and intangible assets (such as patents or goodwill) carried on the balance sheet. Note that this sheet primarily discusses long-lived assets as PPE, but there is some discussion of intangible assets.
Inflation: The scenario where an economy or business environment is experiencing rising prices.
Deflation: The scenario where an economy of business environment is experiencing falling prices.
This content is for paid members only.
Join our membership for lifelong unlimited access to all our data science learning content and resources.