Cost accounting refers to the accounting procedures designed to assess the costs of production a business incurs. Managers typically use cost accounting as a budgeting tool for establishing cost ...

The cost and equity methods of accounting are used by companies to account for investments they make in other companies. In general, the cost method is used when the investment doesn't result in a ...

Full cost (FC) accounting allows companies to capitalize all operating expenses related to locating new oil and gas reserves, regardless of the outcome.

This story was originally published on Retail Dive. To receive daily news and insights, subscribe to our free daily Retail Dive newsletter. To determine the value of ending inventory and, ultimately, ...

Inventory management is an important aspect of every retail business. To maximize profits, companies need the right amount of inventory items at all times. Inventory count determines both inventory ...

Cost accounting examines how a company spends money. All expenses are recorded and analyzed in detail and then reported to management, who uses this information to identify ways to increase efficiency ...

Not all forms of accounting are the same. Some focus on costs, others on audits and some focus on taxes. While having a solid handle on your business’s finances is essential, how you track business ...

On August, 15, 2020, the Internal Revenue Service (IRS) issued PLR 202033002, in which it addressed whether cost of removal (COR) is “protected” by the normalization rules of section 168(i)(9). COR is ...