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FIFO vs. LIFO method: Definitions, Differences, Examples, Advantages and Disadvantages

FIFO and LIFO are two accounting methods for valuing inventory. FIFO is considered to be superior, but LIFO also has its merits. This post discusses both methods and provides an example that...
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What Is Cost of Goods Sold (COGS), Formula, Example and How to Calculate

Monitoring your Cost Of Goods Sold or COGS can help improve your profitability. It’s also a tax-dedu...
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101-A Beginner's Guide to Bookkeeping

This article describes the bookkeeping process, whether it is performed by bookkeepers, accountants,...
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The Best Accounting Software for Small Business Inventory Management

Is your business growing faster than you can manage? Then an inventory management software should be...
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The Best (Free) Accounting Software For CPAs, Accountants And Bookkeepers

Are you on the hunt for the best accounting software for CPAs, accountants and bookkeepers? Preferab...
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5 Myths of Cloud-Based Accounting Software: Debunked

The cloud allows you to access to your data in real-time and from anywhere with an internet connecti...
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The Advantages of Using an Accounting Software

Still using a shoebox and notebook approach to accounting? Accounting software provides a way for yo...
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Save Time And Money With Inventory Management Accounting Software

Want to save some time and money for your business? Throw out your inventory management software and...
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What Makes Cloud Accounting Software So Great?

Understanding where a file goes when you save it to your PC is a fairly simple concept. It lives on ...
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How Much Inventory Do I Need For My Small Business?

Business owners and financial managers need to control inventory levels. Establishing the right inve...
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11 Ways to Spend Leftover Accounting Inventory Budget

It’s the time of year for daydreaming about creatively using leftovers. What if we apply some of tha...
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5 Common Accounting Mistakes To Avoid With Your Inventory Management System

Managing inventory is essential in business. In retail, excellent inventory management determines a ...
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How to Succesfuly Prospect On Social Media? By This Simple 4-Step Formula

Tapping into social networks to generate and cultivate leads in a mutually beneficial way provides a...
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When To Start Saving For Retirement And The Mindset Behind It

Experts offer advice on retirement plans, investments, tax law, and when to start saving for retirem...
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