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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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6 Most Important Small Business Accounting Tips

Most successful small businesses have one thing in common. Their accounting records are error-free a...
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Business Accounting Explained

Having a good understanding of business accounting is essential to run a successful company. Even wi...
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A Business Owner's Guide to Accounting Methods

Tracking your revenues and earnings is one of the most important functions of operating your busines...
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5 Reasons Why Cloud Accounting is Leading the Way

The accounting industry has changed quite a bit over the past decade. Thanks to cloud-based technolo...
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What Are The Software Needs Of Accounting Firms?

Businesses of all sizes depend on accounting firms to help them manage their financial needs. To pro...
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Accounting For Every Dollar

Are you looking for ways to improve your bottom line, but not sure where to begin? An easy place to ...
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How Changes Of Minimum Wage Laws Affect Your Business?

The 2021 laws regarding increases to the minimum wage may raise the hourly pay rate from the current...
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5 Great Reasons To Switch To Cloud Based Accounting

From tech experts to small business insiders, everyone is talking about how 2021 is the year that bu...
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5 Tips & Tricks to Get Your Invoices Paid Faster

Sending out an invoice for completed work or shipped products feel great. Receiving payment for that...
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5 Ways Modern Accounting Software Makes Your Old Bookkeeping Abandoned

Relationship experts say that you never truly get over a lost love until you meet someone new. That’...
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