FIFO (first in, first out) and LIFO (last in, first out) are inventory management and accounting techniques designed to add consistency to the sales and accounting functions of business, respectively.

Amanda Bellucco-Chatham is an editor, writer, and fact-checker with years of experience researching personal finance topics. Specialties include general financial planning, career development, lending ...

Managerial accounting is used by a company's managers to help in planning and implementing day-to-day operations. According to Accounting in Focus, managerial accounting is used in businesses such as ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. The three main types of accounting for businesses are ...