Inventory Accounting and Costing Training
BMC Training provides a training course in Inventory Accounting and Costing in Finance , Accounting and Budgeting
Course Title
Venue
Start Date
End Date
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Dubai28 - 2 - 20214 - 3 - 2021
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Paris28 - 2 - 20214 - 3 - 2021
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Istanbul21 - 3 - 202125 - 3 - 2021
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Kuala Lumpur14 - 3 - 202118 - 3 - 2021
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Dubai7 - 3 - 202111 - 3 - 2021
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Paris7 - 3 - 202111 - 3 - 2021
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London28 - 3 - 20211 - 4 - 2021
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Dubai21 - 3 - 202125 - 3 - 2021
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Paris21 - 3 - 202125 - 3 - 2021
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Dubai25 - 4 - 202129 - 4 - 2021
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Paris25 - 4 - 202129 - 4 - 2021
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Kuala Lumpur4 - 4 - 20218 - 4 - 2021
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Istanbul11 - 4 - 202115 - 4 - 2021
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London18 - 4 - 202122 - 4 - 2021
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Dubai11 - 4 - 202115 - 4 - 2021
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Paris11 - 4 - 202115 - 4 - 2021
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Dubai18 - 4 - 202122 - 4 - 2021
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Paris18 - 4 - 202122 - 4 - 2021
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Istanbul9 - 5 - 202113 - 5 - 2021
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Kuala Lumpur2 - 5 - 20216 - 5 - 2021
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Dubai16 - 5 - 202120 - 5 - 2021
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Paris16 - 5 - 202120 - 5 - 2021
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London23 - 5 - 202127 - 5 - 2021
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Dubai9 - 5 - 202113 - 5 - 2021
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Paris9 - 5 - 202113 - 5 - 2021
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Dubai13 - 6 - 202117 - 6 - 2021
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Paris13 - 6 - 202117 - 6 - 2021
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Kuala Lumpur20 - 6 - 202124 - 6 - 2021
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Istanbul27 - 6 - 20211 - 7 - 2021
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London6 - 6 - 202110 - 6 - 2021
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Dubai27 - 6 - 20211 - 7 - 2021
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Paris27 - 6 - 20211 - 7 - 2021
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Dubai6 - 6 - 202110 - 6 - 2021
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Paris6 - 6 - 202110 - 6 - 2021
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Istanbul4 - 7 - 20218 - 7 - 2021
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Kuala Lumpur11 - 7 - 202115 - 7 - 2021
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Kuala Lumpur18 - 7 - 202122 - 7 - 2021
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London25 - 7 - 202129 - 7 - 2021
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Dubai4 - 7 - 20218 - 7 - 2021
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Paris4 - 7 - 20218 - 7 - 2021
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Dubai1 - 8 - 20215 - 8 - 2021
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Paris1 - 8 - 20215 - 8 - 2021
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Kuala Lumpur8 - 8 - 202112 - 8 - 2021
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Istanbul15 - 8 - 202119 - 8 - 2021
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London22 - 8 - 202126 - 8 - 2021
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Dubai15 - 8 - 202119 - 8 - 2021
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Paris15 - 8 - 202119 - 8 - 2021
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Dubai22 - 8 - 202126 - 8 - 2021
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Paris22 - 8 - 202126 - 8 - 2021
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Istanbul26 - 9 - 202130 - 9 - 2021
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Kuala Lumpur5 - 9 - 20219 - 9 - 2021
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Dubai12 - 9 - 202116 - 9 - 2021
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Paris12 - 9 - 202116 - 9 - 2021
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London19 - 9 - 202123 - 9 - 2021
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Dubai26 - 9 - 202130 - 9 - 2021
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Paris26 - 9 - 202130 - 9 - 2021
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Dubai17 - 10 - 202121 - 10 - 2021
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Paris17 - 10 - 202121 - 10 - 2021
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Kuala Lumpur24 - 10 - 202128 - 10 - 2021
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Istanbul3 - 10 - 20217 - 10 - 2021
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London10 - 10 - 202114 - 10 - 2021
-
Dubai3 - 10 - 20217 - 10 - 2021
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Paris3 - 10 - 20217 - 10 - 2021
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Dubai10 - 10 - 202114 - 10 - 2021
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Paris10 - 10 - 202114 - 10 - 2021
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Istanbul21 - 11 - 202125 - 11 - 2021
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Dubai7 - 11 - 202111 - 11 - 2021
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Paris7 - 11 - 202111 - 11 - 2021
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London14 - 11 - 202118 - 11 - 2021
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Dubai21 - 11 - 202125 - 11 - 2021
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Paris21 - 11 - 202125 - 11 - 2021
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Dubai19 - 12 - 202123 - 12 - 2021
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Paris19 - 12 - 202123 - 12 - 2021
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Kuala Lumpur26 - 12 - 202130 - 12 - 2021
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Istanbul12 - 12 - 202116 - 12 - 2021
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London5 - 12 - 20219 - 12 - 2021
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Dubai12 - 12 - 202116 - 12 - 2021
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Paris12 - 12 - 202116 - 12 - 2021
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Dubai5 - 12 - 20219 - 12 - 2021
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Paris5 - 12 - 20219 - 12 - 2021
Objectives:
By the end of the program, participants will be able to:
- Obtain up-to-date rules covering costing and accounting for inventory, and touch base with inventory cycles from purchase to sales.
- Correctly recognize and measure inventory under International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).
- Properly account for write-downs, write-backs and impact of change in inventory accounting policies on financial statements.
- Develop professional judgment in accounting for inventory not on hand.
- Gain knowledge of different inventory cost-flow assumptions and how they affect the company’s financial position and income statement.
- Report and disclose inventory accurately by adhering to internationally recognized conventions.
- Understand inventory cost allocation techniques and cost accounting approaches.
The Content:
Introduction to Inventory
- Current Assets and Inventory Management
- The Four Reasons for Keeping Inventory
- Inventory Cycle from Purchases to Sales:
- Ordering and Receiving
- Sales and Delivery
- Best Practices in Count Process
- Inventory Industry Types: Merchandise, Manufacturing, Construction and Real Estate
- Differences between Inventory, Fixed Assets and Investment Properties
- Understanding and Analyzing Inventory Ratios
Accounting for Inventory
- Perpetual versus Periodic Inventory Methods
- Cost Accounting versus Financial Accounting
- Cost Allocation Techniques:
- Direct Material, Direct Labor and Manufacturing Overhead
- Initial Recognition
- Cost of Purchase, Cost of Conversion and Treatment of Discounts and Rebates Received
- Measurement after Recognition
- Calculating “Net Realizable Value” (IFRS)
- Calculating Market Price Under The “Lower of Cost or Market-LCM” Method (GAAP)
- Estimating and Booking Write-Downs for Slow-Moving and Obsolete Inventory
- Accounting for Write-Backs of Impairment Under IFRS and GAAP
- Accounting for Errors Identified on Physical Count
Accounting for Inventory – Special Topics
- Accounting for Inventory Not on Hand
- On Consignment
- Goods In-Transit: Defining Inco-Terms
- Sold with Right of Return
- Sold Subject to Installation and Inspection
- Sold on a “Bill-and-Hold” Basis
- The Concept of “Inventory Credit”: Inventory Used as Collateral to Raise Finance
- Impact of Accounting Policies Changes on Financial Statements
- Inventory Required Disclosures
Inventory Cost Flow Assumptions
- First-In First-Out (FIFO) and Last-In First-Out (LIFO)
- Weighted Average (WA) and Moving Average (MA)
- Specific Identification (SID)
Inventory Estimation and Cost Accounting Approaches
- Inventory Estimation Techniques
- Gross Profit Method
- Retail Method
- Cost Accounting Approaches
- Traditional Costing versus Activity-Based Costing
- Target Costing versus Cost-Plus Pricing Method
- Standard Cost Accounting
- Throughput Accounting
- Using Excel for Efficient Analysis of Inventory
- Consolidating your Inventory Data
- Validating Data for Accuracy
- Analyzing Slow Moving and Obsolete Inventory
- Tests of Recalculating Weighted Average and Moving Average Costs
- Using Pivot Tables to Efficiently Analyze and Report on Inventory Issues
Courses Search
Traning Categories
- Management and Leadership
- Finance , Accounting and Budgeting
- Human Resource Management
- Project , Procurement and Contracts
- Secretarial and Administration
- PR , Customer Services , Sales and Marketing
- Quality and Productivity
- Maintenance Engineering Training
- Oil and Gas Training
- Warehouse , Logistics , Supply Chain and Inventory
- Construction and Civil Engineering Training
- Facilities Management Training
- Safety Training
- Healthcare Training
- Electrical and Power Engineering Training
PDF Training Plan 2021 - 2022
- Management and Leadership
- Finance , Accounting and Budgeting
- Human Resource Management
- Project , Procurement and Contracts
- Secretarial and Administration
- PR , Customer Services , Sales and Marketing
- Quality and Productivity
- Maintenance Engineering Training
- Oil and Gas Training
- Facilities Management Training
- Warehouse , Logistics , Supply Chain and Inventory
- Safety Training
- Healthcare Training
- Electrical and Power Engineering Training