Effective inventory accounting is the cornerstone of a thriving business. Optimal tracking and control of inventory enables organizations to achieve desirable goals of reducing overall costs while at the same time avoiding situations such as stock out or overstocking which may hamper their operation and profitability. Regardless whether you are a starter with your own business or just an employee of a huge company, it is important to familiarize yourself with the basic principles of inventory accounting to succeed in the future. For more information about our online accounting certificate courses simply click here.