In most small businesses, inventory reflects a significant percentage of assets. No matter how much emphasis you place on accuracy, your inventory records are likely to reflect discrepancies when you ...

Inventory is a large part of the auditing process for companies with physical goods. Inventory is a substantial portion of total assets for many companies. In addition, there are many complex ...

Businesses that struggle with inaccurate inventory data, large year-end adjustments of physical inventory results, or a lengthy annual physical inventory process should consider adopting a cycle ...

Make sure your 2024 business plan includes regaining control over inventory count – one of your manufacturing company’s most important metrics. Inventory inaccuracies can lead to stockouts, backlog of ...

Avoiding excessive inventory carrying costs requires maintaining accurate inventory records. One of the most efficient ways to maintain that accuracy is by ...

Answer: I spent many years during my career arguing for cycle counting and losing to the financial folks who insisted on physical counts. Never mind that taking these inventories cost the company $100 ...

Editor’s note: The coronavirus pandemic has made inventory testing a huge challenge for auditors, particularly for client entities with a March 31 fiscal year end. Audit firms are requiring staff to ...