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 ...

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, ...

One of the tax law changes proposed in the U.S. Senate bill, but not in the House of Representatives bill, would require investors to use a First In, First Out (FIFO) accounting methodology for tax ...

The first-in, first-out inventory (FIFO) system works by assuming that items are pulled out of inventory in the same order that they get put in. Moving older stock first can increase your company's ...

Intuit's acquisition of Fifo the other week was a smart move as a first step to getting into true cloud accounting for the SME. But now what? How does Intuit leverage that investment to transform to a ...

Forbes contributors publish independent expert analyses and insights. Leading writer and speaker in the area of trader tax benefits. Many crypto traders face massive tax bills for 2017. Which ...

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 ...

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.

I know what you’re thinking. “Ugh. Yet another inventory accounting method I have to know.” But when I say “NIFO,” I’m not talking about Next In First Out. I’m talking about Nose In, Fingers Out.

Bakker announced, "We are raising our full year adjusted earnings per share outlook to a range of $17.65 to $18.15. This represents a raise of $0.30 at both the low and high end of our prior outlook ...

Learn how the lower of cost or market (LCM) method helps value inventory accurately by using the lesser of historical cost or market value, key for GAAP compliance.