For many companies, inventory represents a large, if not the largest, portion of their assets. As a result, inventory is a critical component of the balance sheet. Inventory can be valued using a few ...

QuickBooks is designed to be a simple accounting and bookkeeping software suite. In the spirit of simplicity, it limits decisions that are within the Generally Accepted Accounting Principles.

The proper management of inventory is critical for any size business. The way a company values its inventory can be the difference between a profit and loss. In fact, inventory valuation affects a ...

What Does FIFO Stand For? FIFO stands for ‘First In, First Out’. It is an accounting method used to track the cost of goods sold (COGS). Under FIFO, the cost of inventory purchased first is recognised ...

Accounting and parts tracking can be some of the most challenging chores for fleet managers. To help, Fleetio added new inventory valuation methods to its list of offerings on Tuesday — LIFO / FIFO ...

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 ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Many retailers have used the LIFO (last in, first out) accounting method to manage their inventory reporting. The methods assumes that the last unit to arrive in inventory (the most recent) is sold ...