When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

Physical inventory counting is a much unloved procedure in most merchandising and manufacturing businesses. The process ensures that the inventory on the company's financial books matches the amount ...

Inventory systems can make or break your business, and effective controls help provide visibility as to what you have, what you need, what you don’t need and costs. But bad procedures can lead to ...

The Federal Government's Inventory Management Policy and Procedures, recently approved by the UAE Cabinet, aim to document and standardise inventory procedures across federal entities and define the ...

On April 30, 2024, the Internal Revenue Service (IRS) released Rev. Proc. 2024-23, List of Automatic Changes, which provides the list of tax accounting method changes a taxpayer may file under the IRS ...