Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...

While LIFO produces a lower tax liability, the FIFO method tends to report a higher net income, which can make the company more attractive to shareholders. It also reports a higher value for current ...

Businesses produce revenues through selling their goods and services to interested customers. To acquire the products intended for sale, businesses must either manufacture or purchase them from their ...

Zaw Thiha Tun is currently an investment advisor for PI Financial Corp. He is also a financial writer on a wide variety of topics. Amy is an ACA and the CEO and founder of OnPoint Learning, a ...

Manufacturers, processors, wholesalers, jobbers, distributors and other companies that have a substantial portion of their assets in the form of inventory have an opportunity to improve their cash ...

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 ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Same-store sales, margins, inventory levels — these are some of the metrics investors look at when it comes to ...

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 ...