Table of ContentsWhat is Inventory Management?Techniques of Inventory Management1. ABC Analysis2. Just-In-Time (JIT) Inventory Management3. Economic Order Quantity (EOQ)4. Vendor-Managed Inv… Read More

Maximizing warehouse storage efficiency is crucial for businesses to optimize their operations and minimize costs. Here are some strategies to help you achieve this goal:  Implement… Read More

A company’s profitability will be impacted by the methodology used to calculate its inventory expenses. FIFO vs LIFO taxes will directly depend on how much profit it reports.Inventory… Read More

What Is FIFO Inventory Method? The FIFO accounting method stands for First In First Out. It is one of the most common methods to value inventory at the end of any accounting period; thus… Read More

In the first part of our examination of inventory valuation methods for manufacturing and distribution, we discussed the basics of the costing practice and outlined some common methods that… Read More

View Fullscreen Accounting & Auditing Paper -I (2000) (1) Double entry book-keeping was fathered by: (a) F.W.Taylor (b) Henry Fayol (c) Lucas Pacioli. (2) Funds Flow Statement and source… Read More

Understanding what you have, where it is kept, and how much you will need is the key to effective inventory management. But it’s easier said than done. Where Velan adds value is in thi… Read More

Businesses that use inventory management effectively are destined to succeed. Companies can use inventory management software to automate the process of ordering, storing, and optimizing the… Read More

What is Salary Payable? The term “salary payable” refers to the liability created to account for the number of salaries owed to the employees but are yet to be paid to them. For… Read More

What are Retained Earnings? Retained Earnings (RE) can be defined as the earnings that the business retains with itself and are not used for distributing profits as dividends. The profits t… Read More

The newly introduced version of the Odoo ERP system offers several advantages for users in order to simplify business processes. Seamless management of business operations is the main featur… Read More

Business owners and investors are understandably concerned about skyrocketing inflation. Over the last year, consumer prices have increased 8.3%, according to the latest data from the U.S. B… Read More

What is LIFO Reserve? LIFO reserve is the difference between what their ending inventory would have been under LIFO accounting and its value under LIFO. Companies can choose to cost their I… Read More

(Unique Caption) U. S. Senator Invoice Bradley, (D-N.J.), pauses as he leaves the voting sales space after … [+] casting his poll within the basic election right here. Bradley, a f… Read More

What is Garbage Collection?Overview Garbage collection (GC) is a form of automatic memory management. The garbage collector attempts to reclaim memory which was allocated by the program, but… Read More

What is the General Reserve? General Reserve is the amount kept aside from the profit earned by the company during its normal course of the operation to meet future needs like contingencies… Read More

Job Id: 20210428009 Company: Avantor Job Role: Senior Accountant Experience: Relevant Experience Qualification: Graduate Job Location: Pune Salary: Best in Industry Vacancies: Not Mentioned… Read More

40% of SMBs (Small Medium Businesses) consider ‘improving existing customer experience and retention as their top strategy for revenue growth’. But, unfortunately, they don&rsqu… Read More

The second largest fashion retailing company in the world, H&M, is “struggling with a mounting stack of unsold inventory” – to the huge extent of US$4.3 billion, accord… Read More

What is Net Realizable Value (NRV)? Net Realizable Value is the value of an asset excluding a reasonable estimate of costs associated with the disposal of the asset or the eventual sale, wh… Read More

Trial Balance vs Balance Sheet – In simple terms, a balance sheet is an extension of the accounts recorded in the trial balance. When you’re beginning to learn balance sheet… Read More