What is the slide for?

This page is dedicated to FIFO or LIFO methods. Thus, the slide is designed to help in demonstrating these types of information.

In order to conduct activities as efficiently as possible, companies and entrepreneurs must have a certain kind of resources directed to the implementation of normal activities and satisfaction of the basic needs of the entity.

The receipt of materials in the organization is accompanied by their acceptance on the balance sheet, taking into account the actually incurred costs for the acquisition. However, the question arises as to the value at which write-offs should be recorded in the case when inventories are purchased in large quantities at different prices and at different intervals, while their write-offs to production are carried out as required.

Here come useful two main methods: FIFO and LIFO.

The main methods. What is fifo and lifo?

The FIFO method 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. 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 LIFO method provides an opportunity to reduce tax liabilities if there are not so many used inventories, and also if the amount of purchased reserves is larger than those written off.

The composition of the template

One ready-made unique slide comprises the template. A schematic representation of information is popular nowadays. This chart clearly and visually reflects the essence of the methods and makes it easier for the audience to understand the topic. Modern useful built-in tools and necessary elements are applied to the template; thus, your work will be easier and more efficient.

This template is a good choice for accountants, employees engaged in the work of tax and accounting systems that is suitable for the presentation of reports, analysis.

The advantages of the slide:

  1. High quality. FIFO or LIFO template is a high-quality slide for professionals. Safe work without any defects is guaranteed. Displaying the slide on any high-resolution devices is not a problem. The template remains excellent quality.
  1. Built-in tools. It is possible to edit such vector elements as shapes, colors and others.
  1. Standard fonts.
  2. A premade easy-to-use template. If you choose this template, you can be sure that your speech will be successful. Adding such schematic slide, you’ll attract attention and create a positive impression. Moreover, the slide will be your assistant at work as it is able to simplify work and save time. The slide is easy to use; even the beginners can use it without trouble.
  1. A multipurpose template. This slide that allows you to understand what is fifo and lifo is frequently used in accounting and tax systems to systematize the working processes of employees and optimize their work.
  2. Free 24/7 support.