bky2782

Since LIFO uses the most recently acquired inventory to value COGS, the leftover inventory might be extremely old or obsolete. As a result, LIFO doesn’t provide an accurate or up-to-date value of inventory because the valuation is much lower than inventory items at today’s prices. Also, LIFO is not realistic 더보기…

Examples include bank balances, accounts receivable, pledged donations, investments, and prepaid expenses. Nonprofits should include balance sheets in their organization’s annual reports and when filing Form 990 with the IRS. It’s best to hire an in-staff or freelance accountant to create these reports, but if funds are unavailable, we hope 더보기…