Discover how Dollar-Value LIFO works in inventory accounting, its advantages in inflationary times, and its impact on financial statements and tax savings.

Businesses may use two systems to maintain inventory records: perpetual and periodic. Now that computing systems that tie inventory and sales records together are widely available, most companies use ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics 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 ...

Physical inventory counting is a much unloved procedure in most merchandising and manufacturing businesses. The process ensures that the inventory on the company's financial books matches the amount ...

In current times, businesses are becoming increasingly complex as there is so much of crucial data that needs to be handled efficiently. As a result, accounting software has become vital for any ...

Several major retailers in the U.S. use a century-old accounting practice known as “the retail inventory method,” which relies on retail prices to estimate inventory, even though it fails to take full ...