Businesses that manage inventory must rely on generally accepted principles of accounting, or GAAP, to assess and plan for their stock levels. Without inventory valuation, it would be difficult for ...

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 ...

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. A few ...

Small-business owners have several ways to calculate the value of their inventory at any given time. You can use the cost to produce your inventory or one of two selling prices, depending on your ...

Inventory valuation is often necessary for the purposes of evaluating and determining damages. Such damages could arise from a multitude of factors such as water intrusion, fire, theft and / or ...

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 ...

To provide guidance on accurately recording the value and minimizing the risk of loss of assets held in inventory by university service centers. UTSA service centers purchase and distribute products ...

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 ...