QuickBooks is designed to be a simple accounting and bookkeeping software suite. In the spirit of simplicity, it limits decisions that are within the Generally Accepted Accounting Principles.

Discover the key differences in inventory accounting between GAAP and IFRS, including valuation methods, write-down reversals ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

It is not always practical for a company to keep track of actual costs of each item in inventory. Goods may be sold in random batches, and it is easy to lose track of inventory costs in relation to ...

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 ...

Understanding the cost of your inventory isn’t just about keeping numbers straight; it’s about gaining insights that drive profitability, improve operational efficiency and enhance decision-making.

To determine the value of ending inventory and, ultimately, margins, many retailers have stuck with an accounting practice known as the retail inventory method — in some cases for more than 100 years ...

Plastics processors are fortunate to have several options for managing and calculating costs. In part one of this series, we discussed the benefits of a production profit contribution model. This ...

Several major retailers in the U.S. use a century-old accounting practice known as “the retail inventory method,” which relies on retail prices to estimate inventory, even though it fails to take full ...