Inventory is recorded on your company's balance sheet as a short-term asset. The fixed period inventory system is a method you can use to record and track your company's inventory and adjust the ...

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 ...

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 ...

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.

Greg DePersio has 13+ years of professional experience in sales and SEO and 3+ years as a writer and editor. Michael Logan is an experienced writer, producer, and editorial leader. As a journalist, he ...

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

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 ...