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, ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

The selection by an entity of its company structure, its fiscal year and its method of accounting are the three main mechanisms that a company can employ in performing substantial tax planning, ...

In the United States, small businesses can choose from one of several inventory accounting methods, including "first in first out," or FIFO; "last in first out," or LIFO; and average cost. Each of ...

A lot depends on the nature of your business. In some cases accounting methods can actually be part of your business strategy; inventory accounting is one of those methods. Specific identification ...

Summer is when we get to catch up on our reading, and this year's list included articles on what, if anything, to do about inventory accounting because of international convergence. All sorts of ...

USA TODAY markets reporter Matt Krantz answers a different reader question every weekday. To submit a question, e-mail Matt at [email protected]. Q: How does "LIFO" and "FIFO" affect how much tax ...