perpetual inventory system

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• Perpetual inventory — In business and accounting/accountancy, perpetual inventory or continuous inventory describe systems of inventory is which the inventory as recorded or displayed in the firm or organization s information system is updated on a continuous basis… …   Wikipedia

• perpetual inventory — Recordkeeping system in which book inventory is updated daily. Bloomberg Financial Dictionary * * * perpetual inventory perpetual inventory ➔ inventory * * * perpetual inventory UK US noun [C or U] ► ACCOUNTING CONTINUOUS INVENTORY( …   Financial and business terms

• perpetual inventory — PI A system of inventory control that regularly updates inventory quantities. A PI system may be *real time, or there may be a slight delay between inventory movements and the updating of inventory balances. Auditors often place reliance on PI… …   Auditor's dictionary

• perpetual inventory — /pəˌpetʃuəl ɪnvənt(ə)ri/ noun a stock recording and valuation system where each item of stock purchased is added to the total and each item sold is deducted, so that the stock figures are always correct and up to date …   Dictionary of banking and finance

• 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

• Physical inventory — is a process where a business physically counts its entire inventory. A physical inventory may be mandated by financial accounting rules or the tax regulations to place an accurate value on the inventory, or the business may need to count… …   Wikipedia

• Periodic Inventory — A method of inventory valuation for financial reporting purposes where a physical count of the inventory is performed at specific intervals. This accounting method for inventory valuation only keeps track of the inventory at the beginning of a… …   Investment dictionary

• continuous inventory — ➔ inventory * * * continuous inventory UK US noun [C or U] (plural continuous inventories) (also perpetual inventory) ► ACCOUNTING a system of regularly checking information on the quantity and type of goods that a company has available to sell:… …   Financial and business terms

• Periodic inventory — is a system of inventory in which updates are made on a periodic basis. This differs from perpetual inventory systems, where updates are made continuously …   Wikipedia

• Library computer system — A library computer system is the software used to catalog, track circulation (where appropriate) and inventory a library s assets. It is intended for home, church, private enterprise or other small to medium sized collections. Larger, First World …   Wikipedia

• cycle counts — The regular undertaking of *physical inventory checks. Cycle counts are often performed in the context of a *perpetual inventory system, and the term normally refers to the cyclical checking of inventory that covers all categories of products in… …   Auditor's dictionary