inventory accounting

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• Inventory Accounting — The body of accounting that deals with valuing and accounting for changes in inventoried assets. Changes in value can occur for a number of reasons including depreciation, deterioration, obsolescence, change in customer taste, increased demand,… …   Investment dictionary

• inventory accounting — noun accounting that controls and evaluates inventory • Hypernyms: ↑accountancy, ↑accounting • Hyponyms: ↑first in first out, ↑FIFO, ↑last in first out, ↑LIFO …   Useful english dictionary

• inventory accounting — The accounting records and systems used for the ordering, receipt, issuing, and valuation of materials bought by an organization for stock. It includes the recording of the entries on bin cards and in the stock ledger as well as the procedures… …   Accounting dictionary

• Inventory — means a list compiled for some formal purpose, such as the details of an estate going to probate, or the contents of a house let furnished. This remains the prime meaning in British English.[1] In the USA and Canada the term has developed from a… …   Wikipedia

• Inventory valuation — INVENTORIES AND FINANCIAL STATEMENTS Inventories are usually the largest current asset of a business, and proper measurement of them is necessary to assure accurate financial statements. If inventory is not properly measured, expenses and… …   Wikipedia

• inventory — the value of all the stock of physical items that a business uses in its production process or has for sale in the ordinary course of doing business. Glossary of Business Terms A category of goods defined by Article 9 of the Uniform Commercial… …   Financial and business terms

• Inventory — For companies: Raw materials, items available for sale or in the process of being made ready for sale. They can be individually valued by several different means, including cost or current market value, and collectively by FIFO, LIFO or other… …   Financial and business terms

• Inventory Reserve — An accounting entry that represents a deduction from earnings for the purpose of fairly and reasonably representing the value of inventoried assets on a balance sheet. The inventory reserve is used to make up for the fact that all inventory will… …   Investment dictionary

• inventory — A detailed list of articles of property; a list or schedule of property and other assets, containing a designation or description of each specific article; quantity of goods or materials on hand or in stock; an itemized list of the various items… …   Black's law dictionary

• inventory — A detailed list of articles of property; a list or schedule of property and other assets, containing a designation or description of each specific article; quantity of goods or materials on hand or in stock; an itemized list of the various items… …   Black's law dictionary

• Accounting software — is application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance. It functions as an accounting information system. It may be developed… …   Wikipedia