Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. From answering your legal questions to providing the right ...

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 ...

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

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 ...

Discover essential methods for calculating business costs and their tax implications. Learn how accountants and producers ...

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 ...

Fleet maintenance software Fleetio has added new inventory valuation methods to its offerings: LIFO / FIFO (last-in first-out, first-in first-out). LIFO / FIFO is an accounting method for customers to ...

A lot depends on the nature of your business. In some cases accounting methods can actually be part of your business strategy; inventory accounting is one of those methods. Specific identification ...