Cost of goods sold (COGS) is more than an accounting term—it's a critical metric that directly measures your business's ...

Learn how to use the High-Low Method to separate fixed and variable costs efficiently. Discover its applications, limitations, and how to calculate costs.

This article analyses how cost accounting techniques empower internal audit to evolve from a compliance-centric function to a strategic value-adding partner. It explains core cost accounting ...

I’ve been a teacher since 1992. When I went to college, I was taught that children would learn to read naturally if we simply surrounded them with books. My training emphasized "whole language," ...

To determine the value of ending inventory and, ultimately, margins, many retailers have stuck with an accounting practice known as the retail inventory method — in some cases for more than 100 years ...

The accounting method your business uses to report income for tax purposes, either cash or accrual, can significantly impact your tax bill. While the cash method can offer tax-saving opportunities, ...

The Internal Revenue Service has released Rev. Proc. 2025-23, which updates the list of automatic procedures for taxpayer-initiated requests for changes in methods of accounting. An "automatic change" ...

In Rev. Proc. 2025-23, the IRS on Monday provided a comprehensive, updated list of changes in tax accounting methods to which the automatic change procedures in Rev. Proc. 2015-13, as subsequently ...

A threshold matter for determining the proper procedure during an exam is whether a potentially identified issue is an accounting method (a timing issue, as discussed ...

With the trade war likely averted—for now—investors don’t have to worry about many more surprises from retailers right?