Auditors spend a substantial amount of time testing inventory because it usually makes up a large portion of company assets. Many auditors maintain a physical inventory count checklist of items to ...

Each department with an inventory is required to take a physical count at least once a year to ensure an accurate asset value is reported on the balance sheet and that cost of goods sold is recorded ...

Avoiding excessive inventory carrying costs requires maintaining accurate inventory records. One of the most efficient ways to maintain that accuracy is by ...

Businesses that struggle with inaccurate inventory data, large year-end adjustments of physical inventory results, or a lengthy annual physical inventory process should consider adopting a cycle ...

Inventory is typically the largest balance sheet asset in most merchant companies. Accurate inventory is required to not only deliver timely and stellar customer service but also calculate ...

6 Tips for Tackling Physical Inventory Counts presents great data on the current state of inventory management, painting a scary picture of inventory management neglect, and makes the case for the ...

Managing inventory is tricky. Even if you do your best, an inventory error or two or 10 can slip into your accounting. Even a single error can make trouble. The ...

To provide guidance on accurately recording the value and minimizing the risk of loss of assets held in inventory by university service centers. UTSA service centers purchase and distribute products ...