唯学网小编提醒：本文是关于CFA金融分析师考试会计方面的知识点。CFA 会计部分对于国际和美国的会计准则有一些篇幅，但是考试时出题不多，而且很简单。对于报表的处理，就几大块儿知识点。总之，会计和金融是组成CFA金融分析师考试的关键知识体系。
CFA金融分析师考试协会投资系列：股权资产估值
b: Explain the usefulness of inventory and cost-of-goods-sold data provided by the LIFO, FIFO, and average cost methods when prices are 1) stable, or 2) rising.
Balance sheet: Inventories based on FIFO are preferable since these values most closely resemble current cost and hence current economic value. GAAP requires that firms use the lower of cost or market when valuing inventory. Applying the lower-of-cost-or-market to the inventory calculated under any cost flow assumption would decrease income and inventory on the balance sheet if market is lower than cost. If assigned costs to ending inventory using one of the cost flow assumptions (LIFO, FIFO, or average cost) is greater than the replacement market cost of that inventory, then that ending inventory must be written-down to market. This rule is applied individually to each major classification of inventory. Inventory is not changed if market price is greater than cost. This potentially increases cost of goods sold and decreases net income and current assets.
Income statement: LIFO allocates the most recent prices to the cost of goods sold. For income statement purposes, LIFO is the most informative accounting method and provides a better measure of current income. The quandary, FIFO provides the best balance sheet measure and LIFO the best income statement measure. From an analyst's perspective there is often information available to permit restatement of one method to another to provide a better analysis. The discussion above assumes the value for purchases is known but this too may be affected by management choice.
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