Using the Correct Cost Accounting Techniques Has a Huge Financial Impact. Get Fast Facts in this eBook.
QuickBooks only offers limited support and marginal features for inventory valuations and manufacturing costing, which are collectively known as cost accounting. This limited functionality can get frustrating to work with, and it is one of the top 10 reasons businesses choose to switch from accounting software to an enterprise resource planning (ERP) system.
However, that frustration is really only the tip of the iceberg. The bigger problem, the one hiding under the surface, is that using the wrong valuation and costing methods can cost your business significantly more in taxes. In short: it pays to understand the details of cost accounting.
Get the facts at your fingertips. Download the eBook “Principles of Inventory Valuation and Manufacturing Costing for Inventory-Centric Businesses” and, in 20 minutes, you will have a solid grounding with the fundamentals you need to know.
What Will You Learn in the eBook
This in-depth eBook provides a crash course in inventory valuation and manufacturing costing methods. It was written for busy distributors and manufacturers who need accurate information in a hurry, including:
- Official definitions on cost accounting (inventory valuation and manufacturing costing)
- A comprehensive list of the top methodologies businesses typically choose
- Guidance on choosing the right method(s) to meet your business’s unique needs
- Clear examples of surprisingly different financial results each method generates
You will also learn:
- Which commonly used valuation method has been banned internationally
- Why you should never make changes to your inventory records directly through your database
- Why specialized inventory valuation strategies such as FEFO (first expired, first out) are not appropriate for financial evaluation
How Should Your Business Handle Cost Accounting?
Since inventory valuation directly impacts Cost of Goods Sold (COGS), gross profit, net income, and current assets, you should always make sure to consult a certified cost accountant before making any accounting changes.
After reading this eBook, you will understand your full range of options — and the potential impact of each one — so you can discuss your choices confidently with an expert.
Download the eBook “Principles of Inventory Valuation and Manufacturing Costing for Inventory-Centric Businesses”
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