Bookkeeping

Content Advantages Of Using FIFO Vs LIFO Method  : How does the crypto market scenario affect LIFO accounting? Comments: FIFO vs LIFO How to Value Inventory: FIFO, LIFO, or Average? Using LIFO Other Costing Methods Some companies still use LIFO within the United States for inventory management but translate it to FIFO for tax reporting. …

Lifo and Fifo Calculator to calculate ending Inventory Read More »

Content Recording Provisions Contingent liability What is the debit entry? Further details regarding accounting for contingent liabilities can be found in Corporate Guidance on Events After the Reporting Date, including required disclosures. No Umoja entries are made for non-adjusting events; instead accounting disclosures are made where necessary. In 20X0, Case 3 was deemed to have …

Balance Sheet Ratio with Contingent Liability Definition Read More »