Many crypto traders face massive tax bills for 2017. Which accounting method they apply could change their tax bills by tens of thousands of dollars. Specific identification vs. FIFO The IRS wants the ...

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 ...

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

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and potential earnings manipulation.

New IRS rules could have been “disastrous” for crypto taxpayers during the bull market, a crypto tax executive said. The United States Internal Revenue Service (IRS) has issued a temporary relief for ...

FIFO (first in, first out) is the most common method of accounting for inventory. It assumes that the first items in were the first items sold. When inventory is used to create products, there is ...

Fleetio, a fleet maintenance software, has added new inventory valuation methods to its list of offerings, LIFO and FIFO (Last-In First-Out and First-In First-Out). LIFO-FIFO is an accounting method ...

If your small business manufactures goods for sale or purchases goods for resale, you need to elect a method of accounting for inventory. In a resale business, all goods purchased for resale are ...