Inventory is a large part of the auditing process for companies with physical goods. Inventory is a substantial portion of total assets for many companies. In addition, there are many complex ...

Inventory systems can make or break your business, and effective controls help provide visibility as to what you have, what you need, what you don’t need and costs. But bad procedures can lead to ...

In omnichannel and ecommerce companies, inventory management, including tracking and reserving inventory for orders, is crucial for maximizing sales and improving customer satisfaction. If you can’t ...

On April 30, 2024, the Internal Revenue Service (IRS) released Rev. Proc. 2024-23, List of Automatic Changes, which provides the list of tax accounting method changes a taxpayer may file under the IRS ...

One important aspect of ensuring that your small business runs smoothly is to periodically compare written inventory records against the actual physical stock on the shelves and in the warehouse. If ...

Any business that uses assets should hold a regular asset inventory audit in order to track important data like the number, condition, and location of all assets. The audit is a cost-effective method ...

An inventory of hazardous chemicals present must be maintained for each work area that utilizes and stores hazardous chemicals. The identities of the hazardous chemicals on the inventory must ...