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Blog Accounting

Accounting

What is inventory revaluation, and how does it help your...
04 June, 2024

Learn how inventory revaluation adjusts your stock’s book value to match its market value for accurate financials and stronger strategic decisions.

FIFO vs. LIFO: Understanding inventory valuation methods
29 May, 2024

Both FIFO and LIFO inventory valuation methods have accounting pros and cons. You can conduct ongoing inventory and financial asset audits with either method.

Cost of Goods Sold (COGS) in a Perpetual Inventory System
12 December, 2023

In a perpetual inventory system, you need to know how to calculate the cost of goods sold without the ending inventory numbers.

How To Run a Health Check on Your Systems
07 December, 2023

In this article we’ll walk you through how to run a health check on your inventory and accounting systems, and how to use that information to correct any mistakes you find and avoid making them in the future.

Five Reasons Your Accountant Appreciates You Using an Inventory Management...
26 October, 2023

Authored by our partner, Accountfully It’s no secret that accountants love details, especially when it comes to accounting for inventory.  A good accounting team that specializes in inventory management will have a specific process to account for the cost of...

What Is Cost of Goods Sold (COGS) + How to...
06 October, 2023

If you’ve been hanging around the accounting department, chances are you’ve heard the term cost of goods sold (COGS) thrown around a few times. But while COGS is  important, it’s also a concept people tend to misunderstand. Knowing what COGS...

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