When I trained as an accountant in the early 1980’s Just In Time (JIT) was put forward as the efficient way of doing things. Get what you needed delivered as you needed it and not a moment earlier. This cut down on inventory and all the associated costs and freed…
Inventory (or stock as we used to call it) is a controversial subject so let’s see why inventory valuations are wrong. This is not going to be a technical discussion around accounting standards. For statutory purposes you must stick to the rules even though they can cause you to make…
If cash flow is the life blood of a business then inventory is the oxygen that flows through the lungs of the business. Too little oxygen and the business will die. Too much oxygen and it will die. Inventory, or stock as we used to call it, is seen as…