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LOCOM

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AcronymDefinition
LOCOMLower of Cost or Market (inventory valuation method/rule)
LOCOMLake Oswego Communications (Oregon emergency dispatch)


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Fair-value accounting could increase earnings volatility because changes in value of the MSRs, both upward and downward, would flow through earnings without the limiting factor of LOCOM [lower of cost or market]," McCallion points out.
Recent clarification of financial accounting standard FAS 133 (dealing with the treatment of rate locks and MSRs in the pipeline) and initiatives targeted at eliminating the FAS 140 (which requires the capitalization of the MSR and the recognition of current period earnings) LOCOM ceiling on impairment charges are evidence of attempts to bridge the gap between accounting and economic values and make both asset valuation and hedging more transparent.
The LOCOM method for debt securities held for sale and for non-current marketable securities recognizes the net diminution in value but not the net appreciation in the value of those securities.
 
 
 
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