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FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feedstocks. They are used to manage assumptions of costs related to inventory, stock repurchases (if purchased at different ...
FIFO (computing and electronics), a method of queuing or memory management Queue (abstract data type), data abstraction of the queuing concept; FIFO and LIFO accounting, methods used in managing inventory and financial matters
FIFO's opposite is LIFO, last-in-first-out, where the youngest entry or "top of the stack" is processed first. [2] A priority queue is neither FIFO or LIFO but may adopt similar behaviour temporarily or by default. Queueing theory encompasses these methods for processing data structures, as well as interactions between strict-FIFO queues.
Stock rotation is a way of mitigating stock loss. It is the practice, used in hospitality and retail, especially in food stores such as restaurants and supermarkets, of moving products with an earlier sell-by date to the front of a shelf (or in the cooler if the stored item is on repack so they get worked out before the new product), [1] so they get picked up and sold first, and of moving ...
These solutions are suitable for organizations with a high volume of accounts and/or personnel involved in the Balance Sheet Substantiation process and can be used to drive efficiencies, improve transparency and help to reduce risk. Balance sheet substantiation is a key control process in the SOX 404 top-down risk assessment.
It is the wear and tear and thus diminution in the historical value due to usage. It is also the cost of the asset less any salvage value over its estimated useful life. A fixed asset can be depreciated using the straight line method which is the most common form of depreciation.
In computing, the producer-consumer problem (also known as the bounded-buffer problem) is a family of problems described by Edsger W. Dijkstra since 1965.. Dijkstra found the solution for the producer-consumer problem as he worked as a consultant for the Electrologica X1 and X8 computers: "The first use of producer-consumer was partly software, partly hardware: The component taking care of the ...
A modified form of the FIFO page replacement algorithm, known as the Second-chance page replacement algorithm, fares relatively better than FIFO at little cost for the improvement. It works by looking at the front of the queue as FIFO does, but instead of immediately paging out that page, it checks to see if its referenced bit is set.