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.

As a small-business owner, it is important that you know the value of your current inventory. This is not as simple as knowing how many products you have, as products vary in their degree of ...

Work in process refers to materials that have begun their transformations into finished products but are not yet complete. When running a business, you should keep track of your work in process and ...

The American Institute of CPAs’ Financial Reporting Executive Committee has posted an early working draft of guidance on inventory valuation guidance, with a goal of eventually publishing a broader ...

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 ...

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 ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

In omnichannel and ecommerce companies, inventory management, including tracking and reserving inventory for orders, is crucial for maximizing sales and improving customer satisfaction. If you can’t ...

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 ...