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Achieving Inventory Efficiency: 6 Steps to Develop a Winning Plan

Acterys

No matter what your business looks like at present, it is essential to establish a successful inventory plan and management strategy to ensure the success of your business. Developing an effective inventory plan is crucial since it helps to enhance customer satisfaction, increase profitability, reduce costs, and improve cash flow.

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Understanding GAAP rules

ThomsonReuters

Jump to: What are the GAAP accounting rules? What are the main principles of the GAAP framework? What are the key differences between GAAP and IFRS? What are the GAAP rules for capitalization of costs? What are the main consolidation models under GAAP? So, what are the GAAP accounting rules?

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IRS Announces 2023 Standard Mileage Rates and Vehicle Value Limitations

ThomsonReuters

depreciation, lease payments, and license and registration fees) and variable expenses (e.g., Only variable expenses are deductible as medical or moving expenses, so the medical and moving rate is lower. Fixed costs (e.g., This is the same rate that was in effect during the second half of 2022 (see our Checkpoint article ).

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IRS Announces 2022 Standard Mileage Rates and Vehicle Value Limitations

ThomsonReuters

depreciation, lease payments, and license and registration fees) and variable expenses (e.g., Only variable expenses are deductible as medical or moving expenses, so the medical and moving rate is lower. Fixed costs (e.g., Standard mileage rates can be used instead of calculating the actual expenses that are deductible.

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How to calculate depletion expense

ThomsonReuters

Jump to: What is depletion expense? There are several variables that influence depletion expenses, and this article will explore some of those factors, as well as how to calculate and better manage depletion expenses. What is depletion expense? When it pertains to standing timber, cost depletion is the required method.

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IRS Announces 2021 Standard Mileage Rates and Vehicle Value Limitations

ThomsonReuters

depreciation, lease payments, and license and registration fees) and variable expenses (e.g., Only variable expenses are deductible as medical or moving expenses, so the medical and moving rate is lower. Fixed costs (e.g., Standard mileage rates can be used instead of calculating the actual expenses that are deductible.

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Calculating vehicle depreciation

ThomsonReuters

What is the standard mileage rate? Tax depreciation is the recovery of the cost of property, such as a business vehicle, over a number of years. A portion of the cost is deducted every year until the taxpayer fully recovers the cost. Jump to: Can you deduct vehicle depreciation on taxes? Let’s take a closer look.

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