Inventory Accounting: A Comprehensive Guide

Dramatically improve inventory accuracy with bestselling author Steven Bragg’s step-by-step guidelines Inventory Accounting is a comprehensive, step-by-step guide to setting up an inventory accounting system and keeping it running at maximum efficiency. This hands-on book provides accounting professionals with essential information on how to: Set up an accounting system that efficiently handles accumulating inventory costs, summarizing accounts, and standard journal entries used to record transactions Use best practices to increase the efficiency of inventory-tracking and costing functions Install unique controls to combat inventory fraud Implement a step-by-step checklist of activities for inventory counting procedures Save hours of valuable time researching various GAAP reference manuals Adapt inventory tracking and costing systems to accommodate a variety of manufacturing systems Spanning the entire spectrum of inventory accounting, Inventory Accounting deftly explores every facet of the field to help professionals eliminate inaccuracies from their inventory accounting systems.