Taxpayers that fail the gross receipts test are not eligible for the new rules governing inventory accounting. The $25 million threshold will be indexed annually for inflation; the 2025 amount is $31 ...

Inventory methodology is used to measure the value of assets as well as determine the cost of goods sold during a year. The choice is important, and it may be tempting to use different methods for ...

Companies have used the retail method of inventory accounting for many years. According to the Committee on Ways and Means, the retail inventory method has been the best accounting method since 1941.

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 ...

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 ...

Discover how FISH highlights unsold inventory issues and affects company turnover, making it crucial for investors and ...

NORTH BAY – More than 30 wineries mostly in Napa and Sonoma counties have been targeted in a wave of IRS audits of common inventory accounting methods in the industry for three decades. IRS auditors ...

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 ...

When disaster hits, the last thing you want is to argue about what you owned and what it was worth. Yet that is exactly where ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...