Discover how Dollar-Value LIFO works in inventory accounting, its advantages in inflationary times, and its impact on financial statements and tax savings.

Accurate inventory accounting is vital, especially in the globalized world of low-cost competition. Five critical inventory accounting control lapses threaten a company’s long-term survival.

Businesses may use two systems to maintain inventory records: perpetual and periodic. Now that computing systems that tie inventory and sales records together are widely available, most companies use ...

Explore the major differences between IFRS and U.S. GAAP, including inventory write-downs, intangible assets, and accounting ...

Home Depot, Inc. announced a key change in accounting principals in its third quarter filing with the SEC. After adopting a new enterprise resource planning system, otherwise known in the ...

Several major retailers in the U.S. use a century-old accounting practice known as “the retail inventory method,” which relies on retail prices to estimate inventory, even though it fails to take full ...