/  Applying Accounting Tools To Inventory Training

Applying Accounting Tools To Inventory Training

BMC Training provides a training course in Applying Accounting Tools To Inventory in Warehouse , Logistics , Supply Chain and Inventory

Course Title
Venue
Start Date
End Date
  • London
    27 - 1 - 2019
    7 - 2 - 2019
  • Madrid
    27 - 1 - 2019
    7 - 2 - 2019
  • Munich
    27 - 1 - 2019
    7 - 2 - 2019
  • Berlin
    27 - 1 - 2019
    7 - 2 - 2019
  • Istanbul
    20 - 1 - 2019
    31 - 1 - 2019
  • Bali
    20 - 1 - 2019
    31 - 1 - 2019
  • Singapore
    20 - 1 - 2019
    31 - 1 - 2019
  • Kuala Lumpur
    13 - 1 - 2019
    24 - 1 - 2019
  • Rome
    13 - 1 - 2019
    24 - 1 - 2019
  • Barcelona
    13 - 1 - 2019
    24 - 1 - 2019
  • Zurich
    13 - 1 - 2019
    24 - 1 - 2019
  • Dubai
    6 - 1 - 2019
    17 - 1 - 2019
  • Paris
    6 - 1 - 2019
    17 - 1 - 2019
  • Hong Kong
    6 - 1 - 2019
    17 - 1 - 2019
  • Kuala Lumpur
    24 - 2 - 2019
    7 - 3 - 2019
  • Rome
    24 - 2 - 2019
    7 - 3 - 2019
  • Barcelona
    24 - 2 - 2019
    7 - 3 - 2019
  • Zurich
    24 - 2 - 2019
    7 - 3 - 2019
  • London
    17 - 2 - 2019
    28 - 2 - 2019
  • Madrid
    17 - 2 - 2019
    28 - 2 - 2019
  • Munich
    17 - 2 - 2019
    28 - 2 - 2019
  • Berlin
    17 - 2 - 2019
    28 - 2 - 2019
  • Dubai
    10 - 2 - 2019
    21 - 2 - 2019
  • Paris
    10 - 2 - 2019
    21 - 2 - 2019
  • Hong Kong
    10 - 2 - 2019
    21 - 2 - 2019
  • Istanbul
    3 - 2 - 2019
    14 - 2 - 2019
  • Bali
    3 - 2 - 2019
    14 - 2 - 2019
  • Singapore
    3 - 2 - 2019
    14 - 2 - 2019
  • London
    17 - 3 - 2019
    28 - 3 - 2019
  • Madrid
    17 - 3 - 2019
    28 - 3 - 2019
  • Munich
    17 - 3 - 2019
    28 - 3 - 2019
  • Berlin
    17 - 3 - 2019
    28 - 3 - 2019
  • Istanbul
    10 - 3 - 2019
    21 - 3 - 2019
  • Bali
    10 - 3 - 2019
    21 - 3 - 2019
  • Singapore
    10 - 3 - 2019
    21 - 3 - 2019
  • Kuala Lumpur
    3 - 3 - 2019
    14 - 3 - 2019
  • Rome
    3 - 3 - 2019
    14 - 3 - 2019
  • Barcelona
    3 - 3 - 2019
    14 - 3 - 2019
  • Zurich
    3 - 3 - 2019
    14 - 3 - 2019
  • Dubai
    24 - 3 - 2019
    4 - 4 - 2019
  • Paris
    24 - 3 - 2019
    4 - 4 - 2019
  • Hong Kong
    24 - 3 - 2019
    4 - 4 - 2019
  • Kuala Lumpur
    28 - 4 - 2019
    9 - 5 - 2019
  • Rome
    28 - 4 - 2019
    9 - 5 - 2019
  • Barcelona
    28 - 4 - 2019
    9 - 5 - 2019
  • Zurich
    28 - 4 - 2019
    9 - 5 - 2019
  • London
    7 - 4 - 2019
    18 - 4 - 2019
  • Madrid
    7 - 4 - 2019
    18 - 4 - 2019
  • Munich
    7 - 4 - 2019
    18 - 4 - 2019
  • Berlin
    7 - 4 - 2019
    18 - 4 - 2019
  • Dubai
    14 - 4 - 2019
    25 - 4 - 2019
  • Paris
    14 - 4 - 2019
    25 - 4 - 2019
  • Hong Kong
    14 - 4 - 2019
    25 - 4 - 2019
  • Istanbul
    21 - 4 - 2019
    2 - 5 - 2019
  • Bali
    21 - 4 - 2019
    2 - 5 - 2019
  • Singapore
    21 - 4 - 2019
    2 - 5 - 2019
  • London
    12 - 5 - 2019
    23 - 5 - 2019
  • Madrid
    12 - 5 - 2019
    23 - 5 - 2019
  • Munich
    12 - 5 - 2019
    23 - 5 - 2019
  • Berlin
    12 - 5 - 2019
    23 - 5 - 2019
  • Istanbul
    5 - 5 - 2019
    16 - 5 - 2019
  • Bali
    5 - 5 - 2019
    16 - 5 - 2019
  • Singapore
    5 - 5 - 2019
    16 - 5 - 2019
  • Kuala Lumpur
    19 - 5 - 2019
    30 - 5 - 2019
  • Rome
    19 - 5 - 2019
    30 - 5 - 2019
  • Barcelona
    19 - 5 - 2019
    30 - 5 - 2019
  • Zurich
    19 - 5 - 2019
    30 - 5 - 2019
  • Dubai
    26 - 5 - 2019
    6 - 6 - 2019
  • Paris
    26 - 5 - 2019
    6 - 6 - 2019
  • Hong Kong
    26 - 5 - 2019
    6 - 6 - 2019
  • Kuala Lumpur
    9 - 6 - 2019
    20 - 6 - 2019
  • Rome
    9 - 6 - 2019
    20 - 6 - 2019
  • Barcelona
    9 - 6 - 2019
    20 - 6 - 2019
  • Zurich
    9 - 6 - 2019
    20 - 6 - 2019
  • London
    16 - 6 - 2019
    27 - 6 - 2019
  • Madrid
    16 - 6 - 2019
    27 - 6 - 2019
  • Munich
    16 - 6 - 2019
    27 - 6 - 2019
  • Berlin
    16 - 6 - 2019
    27 - 6 - 2019
  • Dubai
    23 - 6 - 2019
    4 - 7 - 2019
  • Paris
    23 - 6 - 2019
    4 - 7 - 2019
  • Hong Kong
    23 - 6 - 2019
    4 - 7 - 2019
  • Istanbul
    2 - 6 - 2019
    13 - 6 - 2019
  • Bali
    2 - 6 - 2019
    13 - 6 - 2019
  • Singapore
    2 - 6 - 2019
    13 - 6 - 2019
  • London
    7 - 7 - 2019
    18 - 7 - 2019
  • Madrid
    7 - 7 - 2019
    18 - 7 - 2019
  • Munich
    7 - 7 - 2019
    18 - 7 - 2019
  • Berlin
    7 - 7 - 2019
    18 - 7 - 2019
  • Istanbul
    14 - 7 - 2019
    25 - 7 - 2019
  • Bali
    14 - 7 - 2019
    25 - 7 - 2019
  • Singapore
    14 - 7 - 2019
    25 - 7 - 2019
  • Kuala Lumpur
    21 - 7 - 2019
    1 - 8 - 2019
  • Rome
    21 - 7 - 2019
    1 - 8 - 2019
  • Barcelona
    21 - 7 - 2019
    1 - 8 - 2019
  • Zurich
    21 - 7 - 2019
    1 - 8 - 2019
  • Dubai
    28 - 7 - 2019
    8 - 8 - 2019
  • Paris
    28 - 7 - 2019
    8 - 8 - 2019
  • Hong Kong
    28 - 7 - 2019
    8 - 8 - 2019
  • Kuala Lumpur
    4 - 8 - 2019
    15 - 8 - 2019
  • Rome
    4 - 8 - 2019
    15 - 8 - 2019
  • Barcelona
    4 - 8 - 2019
    15 - 8 - 2019
  • Zurich
    4 - 8 - 2019
    15 - 8 - 2019
  • London
    11 - 8 - 2019
    22 - 8 - 2019
  • Madrid
    11 - 8 - 2019
    22 - 8 - 2019
  • Munich
    11 - 8 - 2019
    22 - 8 - 2019
  • Berlin
    11 - 8 - 2019
    22 - 8 - 2019
  • Dubai
    18 - 8 - 2019
    29 - 8 - 2019
  • Paris
    18 - 8 - 2019
    29 - 8 - 2019
  • Hong Kong
    18 - 8 - 2019
    29 - 8 - 2019
  • Istanbul
    25 - 8 - 2019
    5 - 9 - 2019
  • Bali
    25 - 8 - 2019
    5 - 9 - 2019
  • Singapore
    25 - 8 - 2019
    5 - 9 - 2019
  • London
    22 - 9 - 2019
    3 - 10 - 2019
  • Madrid
    22 - 9 - 2019
    3 - 10 - 2019
  • Munich
    22 - 9 - 2019
    3 - 10 - 2019
  • Berlin
    22 - 9 - 2019
    3 - 10 - 2019
  • Istanbul
    1 - 9 - 2019
    12 - 9 - 2019
  • Bali
    1 - 9 - 2019
    12 - 9 - 2019
  • Singapore
    1 - 9 - 2019
    12 - 9 - 2019
  • Kuala Lumpur
    8 - 9 - 2019
    19 - 9 - 2019
  • Rome
    8 - 9 - 2019
    19 - 9 - 2019
  • Barcelona
    8 - 9 - 2019
    19 - 9 - 2019
  • Zurich
    8 - 9 - 2019
    19 - 9 - 2019
  • Dubai
    15 - 9 - 2019
    26 - 9 - 2019
  • Paris
    15 - 9 - 2019
    26 - 9 - 2019
  • Hong Kong
    15 - 9 - 2019
    26 - 9 - 2019
  • Kuala Lumpur
    20 - 10 - 2019
    31 - 10 - 2019
  • Rome
    20 - 10 - 2019
    31 - 10 - 2019
  • Barcelona
    20 - 10 - 2019
    31 - 10 - 2019
  • Zurich
    20 - 10 - 2019
    31 - 10 - 2019
  • London
    27 - 10 - 2019
    7 - 11 - 2019
  • Madrid
    27 - 10 - 2019
    7 - 11 - 2019
  • Munich
    27 - 10 - 2019
    7 - 11 - 2019
  • Berlin
    27 - 10 - 2019
    7 - 11 - 2019
  • Dubai
    6 - 10 - 2019
    17 - 10 - 2019
  • Paris
    6 - 10 - 2019
    17 - 10 - 2019
  • Hong Kong
    6 - 10 - 2019
    17 - 10 - 2019
  • Istanbul
    13 - 10 - 2019
    24 - 10 - 2019
  • Bali
    13 - 10 - 2019
    24 - 10 - 2019
  • Singapore
    13 - 10 - 2019
    24 - 10 - 2019
  • London
    3 - 11 - 2019
    14 - 11 - 2019
  • Madrid
    3 - 11 - 2019
    14 - 11 - 2019
  • Munich
    3 - 11 - 2019
    14 - 11 - 2019
  • Berlin
    3 - 11 - 2019
    14 - 11 - 2019
  • Istanbul
    17 - 11 - 2019
    28 - 11 - 2019
  • Bali
    17 - 11 - 2019
    28 - 11 - 2019
  • Singapore
    17 - 11 - 2019
    28 - 11 - 2019
  • Kuala Lumpur
    3 - 11 - 2019
    14 - 11 - 2019
  • Rome
    3 - 11 - 2019
    14 - 11 - 2019
  • Barcelona
    3 - 11 - 2019
    14 - 11 - 2019
  • Zurich
    3 - 11 - 2019
    14 - 11 - 2019
  • Dubai
    10 - 11 - 2019
    21 - 11 - 2019
  • Paris
    10 - 11 - 2019
    21 - 11 - 2019
  • Hong Kong
    10 - 11 - 2019
    21 - 11 - 2019
  • Kuala Lumpur
    15 - 12 - 2019
    26 - 12 - 2019
  • Rome
    15 - 12 - 2019
    26 - 12 - 2019
  • Barcelona
    15 - 12 - 2019
    26 - 12 - 2019
  • Zurich
    15 - 12 - 2019
    26 - 12 - 2019
  • London
    22 - 12 - 2019
    2 - 1 - 2020
  • Madrid
    22 - 12 - 2019
    2 - 1 - 2020
  • Munich
    22 - 12 - 2019
    2 - 1 - 2020
  • Berlin
    22 - 12 - 2019
    2 - 1 - 2020
  • Dubai
    1 - 12 - 2019
    12 - 12 - 2019
  • Paris
    1 - 12 - 2019
    12 - 12 - 2019
  • Hong Kong
    1 - 12 - 2019
    12 - 12 - 2019
  • Istanbul
    8 - 12 - 2019
    19 - 12 - 2019
  • Bali
    8 - 12 - 2019
    19 - 12 - 2019
  • Singapore
    8 - 12 - 2019
    19 - 12 - 2019

Introduction

Inventory can be the largest asset that a company owns, and is one of the most complexes to track and value. This presents a risk to the accountant, since an inventory misstatement could be large enough to seriously alter the financial statements. In accounting for Inventory, this course present every issue that the accountant might need in dealing with all situations.

Course Objectives

On completion of this course you should be able to:

  • Gain a wide knowledge of counting systems, cost layering, standard costing, overhead allocation, the lower of cost or market rule, disclosures, transfer pricing, budgeting, and measurements.
  • Understand how to improve inventory record accuracy, assign costs to inventory, and set up a complete system of Inventory controls.  
  • Apply methods and techniques to create and maintain a comprehensive system of inventory accounting.
  • List the various types of accounting activities that relate to it.
  • Decide which of the accounting activities are actually needed.

Course Outline

Overview of Inventory

  • The Definition of Inventory
  • Accounting for Inventory
  • Inventory Transactions
  • Inventory in a Push Environment
  • Inventory in a Pull Environment
  • Periodic and Perpetual Inventory Systems

Inventory Record Accuracy

  • Inventory record errors
  • Environmental and employee factors impacting record accuracy
  • Inventory data collection methods
  • The data entry blocklog problem
  • Back flushing
  • Controls over record accuracy
  • Inventory review reports
  • Inventory Auditing
  • The corrective action system

Inventory Counting and Reconciliation

  • How to set up inventory record keeping
  • The physical inventory count
  • Concerns about the physical inventory count
  • Physical Count improvements
  • Cycle Counting
  • Control Group Analysis
  • 100% Count Analysis
  • Inventory Reconciliation

Estimating Ending Inventory

  • The Gross Profit method
  • The Retail Inventory method
  • The Effect of Overstated ending inventory

Standard Costing of Inventory

  • How to create a standard cost
  • Historical, Attainable, and Theoretical Standards
  • How to account for standard costs
  • Overview of variances
  • Types of variances
  • Problems with variance analysis
  • Which variances to report and how to report them.

Process Costing

  • Overview of process costing
  • The weighted average method
  • The standard costing method
  • The First In, First Out method
  • The Hybrid Costing system
  • Process costing journal entries
  • Problems with process costing

Inventory Spoilage, Rework, and Scrap

  • Definition of Spoilage
  • Accounting for Normal, Abnormal Spoilage
  • Cost allocation of Spoilage
  • Definition of Rework
  • Reporting and accounting for Rework
  • Definition and accounting for scrap

Inventory Transactions

  • Types of inventory transactions
  • Lower of cost or market adjustments
  • Obsolete inventory adjustments
  • Overhead allocation transactions
  • Physical count adjustments
  • Receiving transactions
  • Sale transactions
  • Scrap and spoilage adjustments

Inventory Transfer Pricing

  • Market price basis for transfer pricing
  • Adjusted market price basis
  • Negotiated basis
  • Cost plus basis
  • Cost Anomalies
  • Pricing problems caused by transfer pricing
  • The tax impact

Inventory Policies

  • Types of inventory policies
  • Lower of cost or market updates
  • Obsolete inventory updates
  • Bill and Hold Policy
  • Collection Take-Back Policy

Inventory Budgeting

  • The production budget
  • Other production budget issues
  • Budgeting for multiple products
  • Ending inventory concepts

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