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TeachMeFinance.com - explain FIFO FIFO -- an acronym for first in, first out. It is a method of computing savings account earnings in which funds on deposit the longest period of time (first in) are considered to be those funds deducted from an account by any withdrawal (first out). This method results in the maximum interest penalty. In accounting, FIFO is a system of assessing the value of inventory, based on the cost for the first shipment of a particular item. See LIFO. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.