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 ...

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

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 ...

Wondering about FIFO vs LIFO? Learn about the two inventory valuation methods and which one is best for you. Many, or all, of the products featured on this page are from our advertising partners who ...

What is the Periodic Inventory Method? An inventory valuation system where updating accounting records or Cost of Goods Sold (COGS) is done in designated intervals rather than after each sale. The ...

Julie Young is an experienced financial writer and editor. She specializes in financial analysis in capital planning and investment management. Eric's career includes extensive work in both public and ...

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 ...