The inventory costing method your company uses directly affects your "cost of goods sold," which is an expense. The higher the expense you report, the lower your net income, and thus the lower your ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

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

This note examines the extent to which firms affected by a change in the tax law respond by making changes in the accounting methods used for financial reporting. The specific tax issue considered is ...

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 ...

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 ...

When you decide to sell a portion of your holdings in a stock, you have to decide which shares you actually want to sell. Two of the most common methods used in this decision are known as FIFO and ...

LouAnn Lofton breaks down this important financial statement component. Inventory may not be the sexiest topic around; I'll grant you that. Maybe in my next column, we'll uncover Victoria's Deep Dark ...

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 ...

When you decide to sell a portion of your holdings in a stock, you have to decide which shares you actually want to sell. Two of the most common methods used in this decision are known as FIFO and ...