Traditional manufacturing refers to manufacturing principles focused on producing a certain set number of products each period and holding a reserve in case of unexpected demand or shortages. This ...

Learn how the flow of costs impacts manufacturing firms, covering raw materials, work-in-process, finished goods, and cost of goods sold with practical examples and methods.

Managers need information to control internal operations and make decisions. Manufacturing companies use complicated accounting and data systems to manage inventory and track raw materials, production ...

Limited guidance from the IRS and accounting standard-setting bodies has led to a divergence in interpretation and practice for inventory valuation within the scope of business combinations.

David Gorton, CPA, has 5+ years of professional experience in accounting. He teaches accounting, helping promote financial education and awareness. David Kindness is a Certified Public Accountant (CPA ...

Manufacturing is a fast-paced industry where success is dependent on timing and quality. That’s why it is crucial to constantly monitor every stage of the production process. Defining and tracking key ...

Historically, pharmaceutical products have been produced in a traditional ‘batch’ system, in which every operation is executed separately using a defined quantity of materials. In batch manufacturing ...