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

Companies that do not maintain a real-time inventory tracking system rely on periodic inventory audits and corresponding adjustments to the accounting general ledger in order to properly reflect the ...

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 ...

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 ...

Accounting practices in the U.S. have improved over the years, but there are still plenty of ways that companies can manipulate their financial results. And not just in the usual ways--the balance ...

In current times, businesses are becoming increasingly complex as there is so much of crucial data that needs to be handled efficiently. As a result, accounting software has become vital for any ...

IMGCAP(1)]Inventory management is the practice of planning, directing and controlling inventory so that it contributes to the business' profitability. Inventory is an asset on the balance sheet that ...

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 ...

Amanda Bellucco-Chatham is an editor, writer, and fact-checker with years of experience researching personal finance topics. Specialties include general financial planning, career development, lending ...