The post White House Eases Cost Accounting Rules appeared first on Self Employed.

Learn how the lower of cost or market (LCM) method helps value inventory accurately by using the lesser of historical cost or market value, key for GAAP compliance.

To determine the value of ending inventory and, ultimately, margins, many retailers have stuck with an accounting practice known as the retail inventory method — in some cases for more than 100 years ...

The White House Office of Management and Budget’s (OMB’s) Cost Accounting Standards (CAS) Board last week announced one final rule and one proposed rule that would eliminate more than 60 requirements ...