Business owners know that inventory losses occur. Damage, spoilage, theft, obsolescence, defects and a number of other problems can crop up at any time. If you use cash accounting, you write down the ...

Unless you're first starting your business, you'll almost always start an accounting period with inventory that you purchased during a preceding period. And unless you're liquidating your company, you ...

To determine the value of ending inventory and, ultimately, margins, many retailers have stuck with an accounting practice known as the retail inventory method — in some cases for more than 100 years ...

Retail businesses have unique accounting challenges. Here's a guide that will get you through the basics. Many, or all, of the products featured on this page are from our advertising partners who ...

Amanda Bellucco-Chatham is an editor, writer, and fact-checker with years of experience researching personal finance topics. Specialties include general financial planning, career development, lending ...

In current times, businesses are becoming increasingly complex as there is so much of crucial data that needs to be handled efficiently. As a result, accounting software has become vital for any ...

The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.

Insurance claims for loss of inventory are generally examined by insurance carriers. The carrier will retain a forensic accountant who has the ability to quantify out of sight inventory losses. Out of ...