LIFO Versus FIFO and How Each Method Values Inventory

As the name implies, First-In, First-Out (FIFO) is a way for companies to value their inventory. The first items put into inventory or produced by the company are accordingly the first taken out of inventory or transferred to customers and therefore expensed. When it...

Tax Changes for 2019

With the start of the fourth quarter of 2019 underway, it’s time to see what the Internal Revenue Service (IRS) will expect of filers for their 2019 taxes. The following are a list of major changes that filers need to be aware of: 1. Removal of the Affordable...

Cash is King- Fraud Schemes and Traps

Cash is the most popular target of fraudsters. But, that doesn’t mean forensic experts can’t discover cash fraud schemes and the perpetrators behind them. Identifying cash traps How do thieves get their hands on your cash? According to the Association of Certified...