FIFO and LIFO

What is the slide for?

Nowadays, there are many different methods of accounting, each of which differs in its specialization, peculiarities. Recently, such methods as FIFO and LIFO have been widely used which can be applied to different situations, and at the same time significantly simplify reporting in certain areas. Thus, FIFO and LIFO slide has been created to provide you a convenient tool for work and reporting.

According to FIFO method, those homogeneous products that were first bought are considered to be used in the production process first.

LIFO is the method in which when reporting to production, those homogeneous products that were purchased latter at a slightly lower or greater price are considered to be used first.

The LIFO method provides an opportunity to reduce tax liabilities, if there are not so many used inventories.

The fifo first in first out example is characterized by extremely high calculation speed and ease of use in accounting; that is why it is often used by those organizations in which production processes are used consistently, that is, they refer to production or use of perishable materials. In addition, the advantage is also an increase in the creditworthiness of the company, as well as the opportunity to attract even more investment or creditors.

The composition of the slide

The template includes one slide with a scheme of these two methods. A group of multicolored numerated squares schematically present LIFO and FIFO work. This template is well-equipped with modern useful tools and necessary elements. Thus, your work will be efficient and convenient.

If you choose this slide, you can be sure that if you forget something when report or present a project, this slide will serve as a plan or guide you can look at to remind the idea.

It is a perfect tool that allows clearly and logically developing the topic. The listeners better perceive the essence if your thoughts coherently follow one each other.

The advantages of fifo first in first out example:

1. High quality. If you’re looking for a professional template of high quality, this slide is what you need. As all our templates, this one demonstrates excellent quality without visible defects in all cases. You can choose the devices with any resolution to display your projects.

2. Editable built-in tools.
3. Complex information visualization. Such schematic visualization of complex data makes it easier to understand the idea. As a result, the audience keeps being interested and better perceives your message.

4. An easy-to-use ready-made template. This slide is available for the users with different levels of computer literacy. Even if you’re not very skillful, do not worry, it is easy to work with this template. Moreover, it saves time and simplifies job responsibilities. All you have to do is to insert necessary data, information.

5. A multipurpose slide. FIFO and LIFO template is widely used for reporting and accounting. Managers, accountants appreciate the quality of easiness of this slide.
6. Free 24/7 support.