FIFO (First-in, First-Out)
FIFO is an inventory valuation method where the oldest inventory costs are recorded as sold first. FIFO assumes earlier purchases are used up before newer ones, which can result in lower cost of goods sold (and higher profits) during inflation. It’s commonly used for perishable or time-sensitive products.
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Forecasting
Forecasting it the process of estimating future financial outcomes based on historical data, trends, and assumptions. It helps businesses plan…
Financial Ratios
Metrics derived from financial statements used to evaluate a company’s performance, health, and efficiency. Common ratios include current ratio, return…
Financial Accounting
Financial accounting is the process of recording, summarizing, and reporting a company’s financial transactions in accordance with standardized rules like…
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