Beginning inventory is the book value of a company’s inventory at the start of an accounting period. It is also the value of inventory carried over from the end of the preceding accounting period.

There are two main types of business. These are businesses that deal in products and businesses that deal in services. All other types of businesses are a mix of one of these two. Think about it, as a ...

The lead trial balance is important in accounting because it helps those responsible for verifying accounting numbers determine whether ledgers are accurate. The lead trial balance provides the ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. In accounting, inventory represents a company's raw ...

How LIFO and FIFO accounting methods impact a company's inventory outlook Fact checked by Suzanne Kvilhaug Reviewed by Natalya Yashina All companies must determine how to record the movement of their ...