The Financial Accounting Standards Board sets national accounting standards, called Generally Accepted Accounting Principles, for publicly traded companies in the United States. GAAP standards provide ...

The Financial Accounting Standards Board has issued an accounting standards update to simplify the measurement of inventory. The update is part of FASB’s simplification initiative, which aims to ...

Accounting for inventory is a central part of financial accounting for any business that produces, stocks or sells items. Ultimately, profitability depends on selling inventory for more than it costs ...

The Financial Accounting Standards Board has issued FASB Statement No. 151, Inventory Costs. According to FASB, the new statement, an amendment to No. 43 Chapter 4, would improve financial reporting ...

The AICPA Financial Reporting Executive Committee (FinREC) on Monday published a working draft on inventory valuation and is seeking comments on the draft. The inventory valuation material ultimately ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

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Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. David Kindness is a Certified Public ...