Beginning work-in-process inventory involves determining the value of products that are in production but that have not yet been completed at the end of an accounting period. Work in progress is not ...

Accountants close the books each month to freeze the data for the period. When the numbers transfer to the general ledger, the accounting activity for the month provides a window for managers to view ...

Before dealer principals and store managers brush aside the issue by stating something like, “I’m a car guy, not an accountant,” NADA Academy instructor Eric Dreisbach shared eight potential pitfalls ...

Manufacturing Execution System (MES) software can be a powerful tool for controlling all aspects of manufacturing, including inventory management. It does a phenomenal job of reaching into processes ...

Between 1992 and 2007, Freudenberg-NOK conducted more than 35,000 kaizen events and Six Sigma projects, which propelled savings in excess of $100 million. Even more, the company reduced ...