All departments are required to perform a complete inventory of their capital equipment once per year. This process is an important control activity designed to safeguard the assets of the University.

Work-in-process inventory refers to the partially completed materials within a production line. According to the team at Accounting Tools, this term considers the cost of raw materials, direct labor ...

In-process inventory is work that has begun production in a manufacturing company but that has not yet been completed. It is an important concept for accounting departments because they have to ...

Inventory management is the process of tracking where your products are at all times and when to order more. These techniques can improve your inventory management process, independent of software.