Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...

Determining the cost or valuation of inventory held in a company is an important management task. Inventory often represents a large portion of total assets on the balance sheet and the method used to ...

Discover when businesses must use accrual accounting and how it differs from cash accounting. Learn why it's essential for ...

Inventory management is an important aspect of every retail business. To maximize profits, companies need the right amount of inventory items at all times. Inventory count determines both inventory ...

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 ...

How LIFO and FIFO accounting methods impact a company's inventory outlook Fact checked by Suzanne Kvilhaug Reviewed by Natalya Yashina All companies must determine how to record the movement of their ...

The Internal Revenue Service has reversed itself on the rolling-average method of valuing inventory and will now consider it valid for tax purposes. The IRS has traditionally viewed rolling-average ...

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 ...

Revenue Procedure 2014-48 provides the exclusive procedures under which a taxpayer can obtain the IRS’s consent to change a method of accounting to comply with final regulations on the retail ...