Inventory
- Production Management
Inflated Price, Specific Price and Base Stock Price Method of Stock Valuation
Inflated Price Method of Stock Valuation: There are some materials which are subject to natural wastage. Examples are : (1)…
Read More » - Production Management
HIFO and Next In First Out Method of Inventory Costing
Highest-in, First-Out Method or HIFO Method is based on the assumptions that stock of materials should be always valued at…
Read More » - Production Management
Bin Cards | Perpetual Inventory System | Material Transfer Note | Purchase Requisition
These four terms are common in materials management which we cannot ignore. (a) Bin cards. (b) Perpetual Inventory System, (c)…
Read More » - Production Management
Advantages and Disadvantages of Last in First out (LIFO) Method
Last in-First-Out Method or Life Method is another inventory pricing method based on cost. As against the First in First…
Read More » - Production Management
Advantages and Disadvantages of First in First out (FIFO) Method
Under First in First out Methods or FIFO Method method, material is first issued from the earliest consignment on hand…
Read More » - Accounting
Advantages of Perpetual and Periodic Stock Taking System
Advantages of Perpetual Inventory and Continuous Stock Taking System: (i) The long and costly work of a stock-taking count is…
Read More » - Accounting
Meaning of Perpetual and Periodic Inventory System
Perpetual inventory system is also known as automatic inventory system. According to ICMA, London, it is, Â a system of records…
Read More » - Business
Opinions With Regard To Capitalization Of Spare-parts
Capitalization of engineering spare-parts to a machine or equipment is somewhat argumentive and can have different opinions. How to identify…
Read More » - Auditing
Auditing Inventory Valuation – A Time Consuming Effort
Auditing a manufacturing company and a service providing company are not the same in both practical and tactical point of…
Read More » - Accounting
How To Calculate Unrealised Profit In Inventory Consolidation
Do all transactions require adjustment entries for NCI? No, not all transactions require an adjustment entry for the Non-Controlling Interest…
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