Many crypto traders face massive tax bills for 2017. Which accounting method they apply could change their tax bills by tens of thousands of dollars. Specific identification vs. FIFO The IRS wants the ...

LAKE FOREST, Ill.--(BUSINESS WIRE)--Pactiv Corporation (NYSE: PTV) today announced a change in accounting for inventories from a combination of the use of the last in, first out (LIFO) method and ...

There are different inventory accounting methods, including first in, first out (FIFO) and last in, first out (LIFO). Companies often try to match the physical movement of inventory to the inventory ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and ...

Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...

New IRS rules could have been “disastrous” for crypto taxpayers during the bull market, a crypto tax executive said. The United States Internal Revenue Service (IRS) has issued a temporary relief for ...

Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...

Operating a business requires you to choose an inventory cost method to apply to your merchandise. It's best to employ the same system consistently so your financial statements can be equitably ...