"Inventory Accounting" is a comprehensive, step-by-step guide to setting up an inventory accounting system and keeping it running at maximum efficiency. This hands-on book provides accounting professionals with essential information on how to: Set up an accounting system that efficiently handles accumulating inventory costs, summarizing accounts, and standard journal entries used to record transactions. Use best practices to increase the efficiency of inventory-tracking and costing functions. Install unique controls to combat inventory fraud. Implement a step-by-step checklist of activities for inventory counting procedures. Save hours of valuable time researching various GAAP reference manuals. Adapt inventory tracking and costing systems to accommodate a variety of manufacturing systems. Spanning the entire spectrum of inventory accounting, "Inventory Accounting" deftly explores every facet of the...