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

Business owners know that inventory losses occur. Damage, spoilage, theft, obsolescence, defects and a number of other problems can crop up at any time. If you use cash accounting, you write down the ...

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

Over time, your company's inventory can perish or become obsolete. If you do not reduce its value on your books, your annual financial statements may be misleading to investors and lenders. To correct ...

Taxpayers that fail the gross receipts test are not eligible for the new rules governing inventory accounting. The $25 million threshold will be indexed annually for inflation; the 2025 amount is $31 ...

Accurate inventory accounting is vital, especially in the globalized world of low-cost competition. Five critical inventory accounting control lapses threaten a company’s long-term survival.

Limited guidance from the IRS and accounting standard-setting bodies has led to a divergence in interpretation and practice for inventory valuation within the scope of business combinations.

Few differences between IFRS and U.S. GAAP loom larger than accounting for inventories, particularly the disallowance of the last-in, first-out (LIFO) method in IFRS. The proposed shift of U.S. public ...

Learn how accounting spreadsheets work with real examples of journals plus when to switch to accounting software.

LONDON--(BUSINESS WIRE)--SpendEdge forecast the global Inventory Accounting Services market is expected to grow by USD 10,124.28 million as we reach 2024. This is due to the impact of the COVID-19 ...

The American Institute of CPAs wants the Internal Revenue Service and the Treasury Department to help businesses facing foreign trade obstacles to maintaining inventory during the pandemic. The AICPA ...

Restaurant accounting has specific needs and features. Here's a look at restaurant accounting methods and expenses, how tips factor in, and more.