Many crypto traders face massive tax bills for 2017. Which accounting method they apply could change their tax bills by tens of thousands of dollars. Specific identification vs. FIFO The IRS wants the ...

LAKE FOREST, Ill.--(BUSINESS WIRE)--Pactiv Corporation (NYSE: PTV) today announced a change in accounting for inventories from a combination of the use of the last in, first out (LIFO) method and ...

How much you paid for your cryptocurrency (the cost basis) has a major impact on the taxes you pay when you eventually sell them. Understanding how Specific ID, First in, first out (FIFO) & Highest in ...

Last-in, first-out (LIFO) and first-in, first-out (FIFO) are two common inventory valuation methods used by companies in accounting. Inventory valuation is the process of assigning value to materials, ...

Discover why IFRS prohibits LIFO accounting, including issues like distorted financials, outdated inventory values, and potential earnings manipulation.

Operating a business requires you to choose an inventory cost method to apply to your merchandise. It's best to employ the same system consistently so your financial statements can be equitably ...

New IRS rules could have been “disastrous” for crypto taxpayers during the bull market, a crypto tax executive said. The United States Internal Revenue Service (IRS) has issued a temporary relief for ...

The Internal Revenue Service (IRS) has announced a temporary reprieve for crypto investors regarding new reporting rules that would have mandated a default accounting method for crypto transactions on ...

Cryptocurrency holders interacting with centralized finance, or CeFi, exchanges in 2025 are benefitting from more flexible accounting methods in a temporary relief notice issued by the IRS. What ...

Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...