Manufacturing

We have extensive experience in the audits of manufacturing companies, whether you are in a process or job cost environment. 

 

The basic objective of inventory accounting is to identify, on a consistent basis, costs applicable to goods on hand at the end of the period and costs that should be included in the cost of goods sold for the period. The specific issues in meeting this objective include determining: (a) what items should be included in inventory, (b) what expenditures should be included in inventory costs, (c) which cost method should be used, and (d) how recognition should be given to the lack of recoverability of inventory costs.

 

We are knowledgeable in all aspects of inventory costing including LIFO, FIFO and weighted average costing.  We are also experienced in complex financial transactions for fixed assets such as sale-leaseback arrangements.