Taxpayers that fail the gross receipts test are not eligible for the new rules governing inventory accounting. The $25 million threshold will be indexed annually for inflation; the 2025 amount is $31 ...

Determining the cost or valuation of inventory held in a company is an important management task. Inventory often represents a large portion of total assets on the balance sheet and the method used to ...

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.

For many companies, inventory represents a large, if not the largest, portion of their assets. As a result, inventory is a critical component of the balance sheet. Inventory can be valued using a few ...

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 ...

Learn about backorder costs, their impact on inventory management, and strategies for managing delays. See how to optimize business operations and customer satisfaction.

NORTH BAY – More than 30 wineries mostly in Napa and Sonoma counties have been targeted in a wave of IRS audits of common inventory accounting methods in the industry for three decades. IRS auditors ...

Tax accounting is based on the concept of the tax year. The books are closed on Dec. 31 of each year (or a different month if you are on a fiscal year) and whatever happened during the year determines ...