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

Companies that do not maintain a real-time inventory tracking system rely on periodic inventory audits and corresponding adjustments to the accounting general ledger in order to properly reflect the ...

Auditors spend a substantial amount of time testing inventory because it usually makes up a large portion of company assets. Many auditors maintain a physical inventory count checklist of items to ...

Wondering about FIFO vs LIFO? Learn about the two inventory valuation methods and which one is best for you. Many, or all, of the products featured on this page are from our advertising partners who ...

Editor’s note: The coronavirus pandemic has made inventory testing a huge challenge for auditors, particularly for client entities with a March 31 fiscal year end. Audit firms are requiring staff to ...