Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Timothy Li is a consultant, accountant, ...

Learn how the lower of cost or market (LCM) method helps value inventory accurately by using the lesser of historical cost or market value, key for GAAP compliance.

Accounting technology is revolutionizing the way firms operate. What once took paper ledgers and hours of manual work can now be done in a fraction of … ...

Business bookkeeping gets very complex, with divisions and subsidiaries requiring their own set of accounts. When the business accounting records are established, every account is titled and assigned ...

Accounting for turnover is often a useful practice in small-business management. Turnover is simplistic, but it provides a straight-forward way of assessing the efficiency of a business.

CPA at Centaur Digital Corp, helping busy business owners decrease the amount of time and energy needed to manage their accounting system. Wiley noticed that his business showed a loss for last year.

Every year, for decades, the City of Chicago claimed to balance its budget as required by state law. Yet the City of Chicago still accumulated many billions of dollars of unfunded but real obligations ...

Section 1256 contracts include certain regulated futures contracts, foreign currency contracts and non-equity options. These contracts receive a unique tax treatment under the IRS code and are subject ...

In recent public discourse, confusion has arisen around the concept of wealth—particularly in distinguishing between accounting, economic, and social definitions. I therefore wish to clarify these ...