GAAP vs. IFRS: Key Differences in Inventory Accounting

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

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 ...
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Fleetio unveils LIFO / FIFO parts inventory valuation methods

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 ...
Forbes

Costco’s Recent Earnings Shows LIFO Accounting Helps Retailers As Inflation Abates

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 ...
CSR Wire

Similarities, Differences and Synergies of Life Cycle Assessment and Greenhouse Gas Inventory Methods

Life cycle assessment (LCA) and greenhouse gas (GHG) inventories are two key measurement tools being used to track an organization’s environmental impact. Is one more effective than the other? The ...
Forbes

How To Manage Inventory Effectively

Learning how to manage inventory efficiently is critical to any business that sells physical goods. From timely ordering of supplies to tracking and storage, any mistakes can directly impact your ...
JournalofAccountancy

Auto dealer stumbles on LIFO termination reversal

The Tax Court held that a business taxpayer’s automatic consent request to change from the last-in, first-out (LIFO) inventory method failed due to defects in its Form 3115, Application for Change in ...