VALUATION PROCEDURE Definition

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VALUATION PROCEDURE is the act, manner, and technique of performing the steps of an appraisal method.

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BANK BALANCE is the amount of money in a bank account on a particular date as recorded by a financial institution on a bank statement.

INVENTORY VALUATION is the process of assigning a financial value to on-hand inventory, based on standard cost, first-in, first-out (FIFO), last-in, first-out (LIFO), average list price or other method. The method used is determined by a requirement to meet legal or other standards specified by a third party, or by an operational measure found to be useful in analyzing inventory positions.

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