Discover how HIFO inventory accounting contrasts with LIFO and FIFO methods, and why it impacts COGS and taxable income, ...

Discover the importance of LIFO Reserve in accounting, including its calculation, comparison with FIFO, and impact on taxes.

Managers have many choices when it comes to accounting for inventory. Regardless of whether your small business uses a periodic or perpetual system, you must establish a method to determine the cost ...

If your small business manufactures goods for sale or purchases goods for resale, you need to elect a method of accounting for inventory. In a resale business, all goods purchased for resale are ...

Taxpayers that fail the gross receipts test are not eligible for the new rules governing inventory accounting. The $25 million threshold will be indexed annually for inflation; the 2025 amount is $31 ...

Limited guidance from the IRS and accounting standard-setting bodies has led to a divergence in interpretation and practice for inventory valuation within the scope of business combinations. A few ...

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.

The American Institute of CPAs’ Financial Reporting Executive Committee has posted an early working draft of guidance on inventory valuation guidance, with a goal of eventually publishing a broader ...

LONDON--(BUSINESS WIRE)--SpendEdge forecast the global Inventory Accounting Services market is expected to grow by USD 10,124.28 million as we reach 2024. This is due to the impact of the COVID-19 ...

Editor’s note: The coronavirus pandemic has made inventory testing a huge challenge for auditors, particularly for client entities with a March 31 fiscal year end. Audit firms are requiring staff to ...

Enterprise accounting software is designed for large companies and businesses. Here are the top seven enterprise accounting software suites. Oracle NetSuite ERP (NetSuite) is an enterprise solution ...