The Financial Accounting Standards Board sets national accounting standards, called Generally Accepted Accounting Principles, for publicly traded companies in the United States. GAAP standards provide ...

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 ...

We provide timely and accurate accounting and financial reporting services in accordance with the requirements of Generally Accepted Accounting Principles, the Texas State Comptroller, The University ...

An asset is anything, tangible or intangible, that has economic value to its owner or could have economic value in the future.

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 ...

The AICPA Financial Reporting Executive Committee (FinREC) on Monday published a working draft on inventory valuation and is seeking comments on the draft. The inventory valuation material ultimately ...

Merchants and manufacturers rely on the sale of inventory to create gross profits. Whether you purchase your inventory or make it yourself, you need to observe the relevant accounting standards to ...

There are numerous options when it comes to choosing accounting software for your small business from simple free programs through to powerful paid-for solutions.