Difference between FIFO and LIFT methods of Inventory valuation.

Inventory management is a crucial function for any product-oriented business. "First in, First Out," or FIFO, and "Last in, First Out," or LIFO, are two common methods of inventory valuation among businesses. The system you choose can have profound effects on your taxes, income, logistics and profitability. Here...

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What are intangible assets of a firm ? Why are they shown in the Balance Sheet ? What is meant by amortisation of such assets ? Give reason for the same.

An asset that is not physical in nature. Corporate intellectual property (items such as patents, trademarks, copyrights, business methodologies), goodwill and brand recognition are all common intangible assets in today's marketplace. An intangible asset can be classified as either indefinite or definite depending on the specifics of that...

By: Unknown On 08:11

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