Since 1939, when the Tax Code's treatment of inventory was modified to permit LIFO, managers and accountants have faced a tri-lemma in that they have to choose among FIFO, LIFO and average flow ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and potential earnings manipulation.

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 ...

Through the representation of the assets that a company owns and the liabilities it owes to others, the balance sheet illustrates an organization's financial well-being. The balance sheet also ...

LAKE FOREST, Ill.--(BUSINESS WIRE)--Pactiv Corporation (NYSE: PTV) today announced a change in accounting for inventories from a combination of the use of the last in, first out (LIFO) method and ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Same-store sales, margins, inventory levels — these are some of the metrics investors look at when it comes to ...

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 ...

Although rising prices increase the cost of your inventory purchases, rising prices affect LIFO (Last-in, First-out) and FIFO (First-in, First-out) inventory values differently. Each inventory ...