3 Common Methods for Analysing Inventory on the Balance Sheet
Business owners need to take care when analysing information displayed in the company’s balance sheets. A statement of the assets, liabilities, and capital of the business, the understanding and interpretation of the balance sheet can have a huge impact on the direction of inventory management and the overall success of the business. It is extrem ... Read More
August 13, 2019 inventory balance, inventory levels, inventory management, inventory management systemThe Impacts of Inventory Stock Discrepancies in Accounting
When the number of stock recorded in your business’ records do not match up to your physical number of stock counted, this results in stock discrepancies. This is one of the main reasons stocktake is so important as it reveals if any such discrepancies exist. Discrepancies, if not prevented or detected, can bring about serious […] ... Read More
October 23, 2018 cost of goods sold, inventory balance, inventory control, inventory managementDon’t Overlook These Differences Between Inventory and Fixed Assets
Especially at the beginning for small businesses, it’s easy to get inventory and fixed assets confused. Inventory and fixed assets are sometimes treated as assets on a business’s balance sheet, though not all assets are inventory. Knowing the essential differences between inventory and fixed assets helps for better tracking, as well as to h ... Read More
September 14, 2018 inventory, inventory accounting, inventory balanceInventory Control Benefits Your Business
Inventory management is the process that controls the constant movement of inventory to meet production needs and consumer demand. If your stock isn’t continuously moving, then something isn’t working right. Companies generally have significant amounts of money invested in inventory, therefore it makes sense to control that inventory effectivel ... Read More
May 16, 2017 cost efficiency, inventory balance, inventory control, inventory management, inventory planning, productivity