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Category: Inventory valuation

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

Inventory Record Keeping Systems

October 31, 2017 Khayyam Javaid, ACA

There are two systems of inventory record keeping: Periodic inventory system Perpetual inventory system

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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