Inventory adjustments are necessary in just about any business, and there are two basic methods used to adjust inventory. Perpetual inventory adjustment occurs when the inventory is adjusted to ...

Inventory includes finished products as well as materials a firm plans to further process. The exact process for adjusting inventory entries depends on the inventory accounting system the firm has ...

What is an Adjusting Journal Entry? an entry made at the end of an accounting period to document any unrealized income or expense during the period. Adjusting journal entries are made in the general ...

Financial accounting is a multi-step process for companies following double-entry methods. The first and most important step begins with a journal entry: the recording of financial information related ...

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Suzanne is a content marketer, writer, ...