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Month: January 2018

Just-in-time (JIT) production/ procurement

January 23, 2018 Khayyam Javaid, ACA

Just-in-time (JIT) production/ procurement, also known as “lean manufacturing” or “Toyota Production System (TPS)”, is a relatively modern technique of…

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Posted in: Inventory management, Management Accounting

Inventory warning levels

January 20, 2018 Khayyam Javaid, ACA

Accurate record keeping is very helpful in various aspects of running a business and this historical data, if properly recorded,…

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Posted in: Inventory management, Management Accounting

Economic order quantity (EOQ)

January 10, 2018 Khayyam Javaid, ACA

Economic order quantity is a mathematical model which helps in identifying the optimum level of order size which will result…

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Posted in: Inventory management, Management Accounting

Inventory Management – Intro

January 9, 2018 Khayyam Javaid, ACA

Some entities are inventory intensive such as manufacturing and retailing concerns, whereas some are not, but in most of the…

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Posted in: Inventory management, Management Accounting

Last-in, First-out (LIFO) method

January 5, 2018 Khayyam Javaid, ACA

Last-in, First-out (LIFO) is also a commonly used cost method of inventory valuation. Although, application of LIFO is not allowed…

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Posted in: Inventory valuation, Management Accounting

Inventory average cost method (AVCO)

January 4, 2018 Khayyam Javaid, ACA

Inventory average cost method or Weighted average cost method (AVCO) is one of the most commonly used cost formulas for inventory…

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Posted in: Inventory valuation, Management Accounting

First-in, First-out (FIFO) method

January 1, 2018 Khayyam Javaid, ACA

Most commonly used cost formulas or methods of inventory valuation include First-in, First-out (FIFO) method. The name “First-in, First-out” itself…

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Posted in: Inventory valuation, Management Accounting

Inventory Valuation – Intro

Khayyam Javaid, ACA

Valuation of inventory is very important both in the context of financial reporting as well as management reporting, as it…

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Posted in: Inventory valuation, Management Accounting

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    Financiopedia
    • Financial Accounting
      • Basics of accounting
      • Double-entry accounting system
      • Accounting cycle
      • Accounting principles
      • Bookkeeping
      • Accounting of assets
      • Property, plant and equipment
      • Financial instruments
      • Inventory
      • Accounts receivable
      • Accounting of liabilities
      • Accounting of income
      • Accounting of expenses
      • Financial statements
      • Ratio analysis
    • Management Accounting
      • Introduction to management accounting
      • Introduction to costs
      • Material and labour costs
      • Marginal and Absorption Costing
      • Inventory valuation
      • Inventory management
      • Costing systems
      • Budgeting
      • CVP analysis
    • IFRS
      • IFRS 15 – Revenue from contracts with customers
      • IFRS 9 – Financial Instruments
    • About Us