Full cost (FC) accounting allows companies to capitalize all operating expenses related to locating new oil and gas reserves, regardless of the outcome.

Inventory management is an important aspect of every retail business. To maximize profits, companies need the right amount of inventory items at all times. Inventory count determines both inventory ...

Anna Baluch is a freelance writer from Cleveland, Ohio. She enjoys writing about a variety of health and personal finance topics. When she's away from her laptop, she can be found working out, trying ...

Discover what applied cost means in accounting, how it works with allocation rates, and see an example to understand its role ...

On August, 15, 2020, the Internal Revenue Service (IRS) issued PLR 202033002, in which it addressed whether cost of removal (COR) is “protected” by the normalization rules of section 168(i)(9). COR is ...

Not all forms of accounting are the same. Some focus on costs, others on audits and some focus on taxes. While having a solid handle on your business’s finances is essential, how you track business ...

This note extends previous research on accounting method choice in the petroleum industry by examining the association between selected attributes of "successful efforts" firms and the decision to ...

Learn what inventory accounting is, how it works, and key methods like FIFO, LIFO, and WAC. Includes real-world examples, tips, and best practices. I like to think of inventory accounting like ...

Restaurant accounting has specific needs and features. Here's a look at restaurant accounting methods and expenses, how tips factor in, and more.