Inventory Accounting and Costing Course

Master the skills needed for effective inventory accounting and costing with our comprehensive course. BMC Training offers Inventory Accounting and Costing Course in Finance , Accounting and Budgeting Courses.

  • English
  • 162 Training Sessions
  • Confirmed
  • One Week
Inventory Accounting and Costing Training Course

Detailed description for visually impaired users: The image presents a view of Inventory Accounting and Costing Training Course

Type a city name or a month
Venue Start Date End Date Net Fees Details & Registration
Kuala Lumpur , Malaysia 16 - Jun - 2024 20 - Jun - 2024 4750 GBP
Rome , Italy 16 - Jun - 2024 20 - Jun - 2024 7300 GBP
Barcelona , Spain 16 - Jun - 2024 20 - Jun - 2024 6950 GBP
Zurich , Switzerland 16 - Jun - 2024 20 - Jun - 2024 7950 GBP
Istanbul , Turkey 23 - Jun - 2024 27 - Jun - 2024 4700 GBP
Bali , Indonesia 23 - Jun - 2024 27 - Jun - 2024 8100 GBP
Singapore , Singapore 23 - Jun - 2024 27 - Jun - 2024 7500 GBP
Washington , United States 23 - Jun - 2024 27 - Jun - 2024 11000 GBP
Dubai , UAE 23 - Jun - 2024 27 - Jun - 2024 4987.5 GBP
Paris , France 23 - Jun - 2024 27 - Jun - 2024 6700 GBP
Hong Kong , Hong Kong 23 - Jun - 2024 27 - Jun - 2024 8500 GBP
Tokyo , Japan 23 - Jun - 2024 27 - Jun - 2024 9750 GBP
Bali , Indonesia 7 - Jul - 2024 11 - Jul - 2024 8100 GBP
Singapore , Singapore 7 - Jul - 2024 11 - Jul - 2024 7500 GBP
Washington , United States 7 - Jul - 2024 11 - Jul - 2024 11000 GBP
Istanbul , Turkey 7 - Jul - 2024 11 - Jul - 2024 4700 GBP
Kuala Lumpur , Malaysia 14 - Jul - 2024 18 - Jul - 2024 4750 GBP
Rome , Italy 14 - Jul - 2024 18 - Jul - 2024 7300 GBP
Barcelona , Spain 14 - Jul - 2024 18 - Jul - 2024 6950 GBP
Zurich , Switzerland 14 - Jul - 2024 18 - Jul - 2024 7950 GBP
Kuala Lumpur , Malaysia 21 - Jul - 2024 25 - Jul - 2024 4750 GBP
Rome , Italy 21 - Jul - 2024 25 - Jul - 2024 7300 GBP
Barcelona , Spain 21 - Jul - 2024 25 - Jul - 2024 6950 GBP
Zurich , Switzerland 21 - Jul - 2024 25 - Jul - 2024 7950 GBP
London , UK 28 - Jul - 2024 1 - Aug - 2024 4950 GBP
Madrid , Spain 28 - Jul - 2024 1 - Aug - 2024 6950 GBP
Munich , Germany 28 - Jul - 2024 1 - Aug - 2024 7900 GBP
Berlin , Germany 28 - Jul - 2024 1 - Aug - 2024 7900 GBP
New York , United States 28 - Jul - 2024 1 - Aug - 2024 10900 GBP
Amsterdam , Netherlands 28 - Jul - 2024 1 - Aug - 2024 8100 GBP
Dubai , UAE 7 - Jul - 2024 11 - Jul - 2024 4987.5 GBP
Paris , France 7 - Jul - 2024 11 - Jul - 2024 6700 GBP
Hong Kong , Hong Kong 7 - Jul - 2024 11 - Jul - 2024 8500 GBP
Milan , Italy 28 - Jul - 2024 1 - Aug - 2024 6950 GBP
Tokyo , Japan 7 - Jul - 2024 11 - Jul - 2024 9750 GBP
Dubai , UAE 4 - Aug - 2024 8 - Aug - 2024 4987.5 GBP
Paris , France 4 - Aug - 2024 8 - Aug - 2024 6700 GBP
Hong Kong , Hong Kong 4 - Aug - 2024 8 - Aug - 2024 8500 GBP
Kuala Lumpur , Malaysia 11 - Aug - 2024 15 - Aug - 2024 4750 GBP
Rome , Italy 11 - Aug - 2024 15 - Aug - 2024 7300 GBP
Barcelona , Spain 11 - Aug - 2024 15 - Aug - 2024 6950 GBP
Zurich , Switzerland 11 - Aug - 2024 15 - Aug - 2024 7950 GBP
Istanbul , Turkey 18 - Aug - 2024 22 - Aug - 2024 4700 GBP
Bali , Indonesia 18 - Aug - 2024 22 - Aug - 2024 8100 GBP
Singapore , Singapore 18 - Aug - 2024 22 - Aug - 2024 7500 GBP
Washington , United States 18 - Aug - 2024 22 - Aug - 2024 11000 GBP
London , UK 25 - Aug - 2024 29 - Aug - 2024 4950 GBP
Madrid , Spain 25 - Aug - 2024 29 - Aug - 2024 6950 GBP
Munich , Germany 25 - Aug - 2024 29 - Aug - 2024 7900 GBP
Berlin , Germany 25 - Aug - 2024 29 - Aug - 2024 7900 GBP
New York , United States 25 - Aug - 2024 29 - Aug - 2024 10900 GBP
Amsterdam , Netherlands 25 - Aug - 2024 29 - Aug - 2024 8100 GBP
Dubai , UAE 18 - Aug - 2024 22 - Aug - 2024 4987.5 GBP
Paris , France 18 - Aug - 2024 22 - Aug - 2024 6700 GBP
Hong Kong , Hong Kong 18 - Aug - 2024 22 - Aug - 2024 8500 GBP
Dubai , UAE 25 - Aug - 2024 29 - Aug - 2024 4987.5 GBP
Paris , France 25 - Aug - 2024 29 - Aug - 2024 6700 GBP
Hong Kong , Hong Kong 25 - Aug - 2024 29 - Aug - 2024 8500 GBP
Tokyo , Japan 4 - Aug - 2024 8 - Aug - 2024 9750 GBP
Milan , Italy 25 - Aug - 2024 29 - Aug - 2024 6950 GBP
Tokyo , Japan 18 - Aug - 2024 22 - Aug - 2024 9750 GBP
Tokyo , Japan 25 - Aug - 2024 29 - Aug - 2024 9750 GBP
Bali , Indonesia 22 - Sep - 2024 26 - Sep - 2024 8100 GBP
Singapore , Singapore 22 - Sep - 2024 26 - Sep - 2024 7500 GBP
Washington , United States 22 - Sep - 2024 26 - Sep - 2024 11000 GBP
Istanbul , Turkey 22 - Sep - 2024 26 - Sep - 2024 4700 GBP
Kuala Lumpur , Malaysia 1 - Sep - 2024 5 - Sep - 2024 4750 GBP
Rome , Italy 1 - Sep - 2024 5 - Sep - 2024 7300 GBP
Barcelona , Spain 1 - Sep - 2024 5 - Sep - 2024 6950 GBP
Zurich , Switzerland 1 - Sep - 2024 5 - Sep - 2024 7950 GBP
Dubai , UAE 8 - Sep - 2024 12 - Sep - 2024 4987.5 GBP
Paris , France 8 - Sep - 2024 12 - Sep - 2024 6700 GBP
Hong Kong , Hong Kong 8 - Sep - 2024 12 - Sep - 2024 8500 GBP
London , UK 15 - Sep - 2024 19 - Sep - 2024 4950 GBP
Madrid , Spain 15 - Sep - 2024 19 - Sep - 2024 6950 GBP
Munich , Germany 15 - Sep - 2024 19 - Sep - 2024 7900 GBP
Berlin , Germany 15 - Sep - 2024 19 - Sep - 2024 7900 GBP
New York , United States 15 - Sep - 2024 19 - Sep - 2024 10900 GBP
Amsterdam , Netherlands 15 - Sep - 2024 19 - Sep - 2024 8100 GBP
Dubai , UAE 22 - Sep - 2024 26 - Sep - 2024 4987.5 GBP
Paris , France 22 - Sep - 2024 26 - Sep - 2024 6700 GBP
Hong Kong , Hong Kong 22 - Sep - 2024 26 - Sep - 2024 8500 GBP
Tokyo , Japan 8 - Sep - 2024 12 - Sep - 2024 9750 GBP
Milan , Italy 15 - Sep - 2024 19 - Sep - 2024 6950 GBP
Tokyo , Japan 22 - Sep - 2024 26 - Sep - 2024 9750 GBP
Dubai , UAE 20 - Oct - 2024 24 - Oct - 2024 4987.5 GBP
Paris , France 20 - Oct - 2024 24 - Oct - 2024 6700 GBP
Hong Kong , Hong Kong 20 - Oct - 2024 24 - Oct - 2024 8500 GBP
Kuala Lumpur , Malaysia 27 - Oct - 2024 31 - Oct - 2024 4750 GBP
Rome , Italy 27 - Oct - 2024 31 - Oct - 2024 7300 GBP
Barcelona , Spain 27 - Oct - 2024 31 - Oct - 2024 6950 GBP
Zurich , Switzerland 27 - Oct - 2024 31 - Oct - 2024 7950 GBP
Istanbul , Turkey 6 - Oct - 2024 10 - Oct - 2024 4700 GBP
Bali , Indonesia 6 - Oct - 2024 10 - Oct - 2024 8100 GBP
Singapore , Singapore 6 - Oct - 2024 10 - Oct - 2024 7500 GBP
Washington , United States 6 - Oct - 2024 10 - Oct - 2024 11000 GBP
London , UK 13 - Oct - 2024 17 - Oct - 2024 4950 GBP
Madrid , Spain 13 - Oct - 2024 17 - Oct - 2024 6950 GBP
Munich , Germany 13 - Oct - 2024 17 - Oct - 2024 7900 GBP
Berlin , Germany 13 - Oct - 2024 17 - Oct - 2024 7900 GBP
New York , United States 13 - Oct - 2024 17 - Oct - 2024 10900 GBP
Amsterdam , Netherlands 13 - Oct - 2024 17 - Oct - 2024 8100 GBP
Dubai , UAE 6 - Oct - 2024 10 - Oct - 2024 4987.5 GBP
Paris , France 6 - Oct - 2024 10 - Oct - 2024 6700 GBP
Hong Kong , Hong Kong 6 - Oct - 2024 10 - Oct - 2024 8500 GBP
Dubai , UAE 13 - Oct - 2024 17 - Oct - 2024 4987.5 GBP
Paris , France 13 - Oct - 2024 17 - Oct - 2024 6700 GBP
Hong Kong , Hong Kong 13 - Oct - 2024 17 - Oct - 2024 8500 GBP
Tokyo , Japan 20 - Oct - 2024 24 - Oct - 2024 9750 GBP
Milan , Italy 13 - Oct - 2024 17 - Oct - 2024 6950 GBP
Tokyo , Japan 6 - Oct - 2024 10 - Oct - 2024 9750 GBP
Tokyo , Japan 13 - Oct - 2024 17 - Oct - 2024 9750 GBP
Bali , Indonesia 17 - Nov - 2024 21 - Nov - 2024 8100 GBP
Singapore , Singapore 17 - Nov - 2024 21 - Nov - 2024 7500 GBP
Istanbul , Turkey 17 - Nov - 2024 21 - Nov - 2024 4700 GBP
Washington , United States 17 - Nov - 2024 21 - Nov - 2024 11000 GBP
Kuala Lumpur , Malaysia 24 - Nov - 2024 28 - Nov - 2024 4750 GBP
Rome , Italy 24 - Nov - 2024 28 - Nov - 2024 7300 GBP
Barcelona , Spain 24 - Nov - 2024 28 - Nov - 2024 6950 GBP
Zurich , Switzerland 24 - Nov - 2024 28 - Nov - 2024 7950 GBP
Dubai , UAE 3 - Nov - 2024 7 - Nov - 2024 4987.5 GBP
Paris , France 3 - Nov - 2024 7 - Nov - 2024 6700 GBP
Hong Kong , Hong Kong 3 - Nov - 2024 7 - Nov - 2024 8500 GBP
London , UK 10 - Nov - 2024 14 - Nov - 2024 4950 GBP
Madrid , Spain 10 - Nov - 2024 14 - Nov - 2024 6950 GBP
Munich , Germany 10 - Nov - 2024 14 - Nov - 2024 7900 GBP
Berlin , Germany 10 - Nov - 2024 14 - Nov - 2024 7900 GBP
New York , United States 10 - Nov - 2024 14 - Nov - 2024 10900 GBP
Amsterdam , Netherlands 10 - Nov - 2024 14 - Nov - 2024 8100 GBP
Dubai , UAE 17 - Nov - 2024 21 - Nov - 2024 4987.5 GBP
Paris , France 17 - Nov - 2024 21 - Nov - 2024 6700 GBP
Hong Kong , Hong Kong 17 - Nov - 2024 21 - Nov - 2024 8500 GBP
Tokyo , Japan 3 - Nov - 2024 7 - Nov - 2024 9750 GBP
Milan , Italy 10 - Nov - 2024 14 - Nov - 2024 6950 GBP
Tokyo , Japan 17 - Nov - 2024 21 - Nov - 2024 9750 GBP
Dubai , UAE 15 - Dec - 2024 19 - Dec - 2024 4987.5 GBP
Paris , France 15 - Dec - 2024 19 - Dec - 2024 6700 GBP
Hong Kong , Hong Kong 15 - Dec - 2024 19 - Dec - 2024 8500 GBP
Kuala Lumpur , Malaysia 22 - Dec - 2024 26 - Dec - 2024 4750 GBP
Rome , Italy 22 - Dec - 2024 26 - Dec - 2024 7300 GBP
Barcelona , Spain 22 - Dec - 2024 26 - Dec - 2024 6950 GBP
Zurich , Switzerland 22 - Dec - 2024 26 - Dec - 2024 7950 GBP
Istanbul , Turkey 8 - Dec - 2024 12 - Dec - 2024 4700 GBP
Bali , Indonesia 8 - Dec - 2024 12 - Dec - 2024 8100 GBP
Singapore , Singapore 8 - Dec - 2024 12 - Dec - 2024 7500 GBP
Washington , United States 8 - Dec - 2024 12 - Dec - 2024 11000 GBP
London , UK 1 - Dec - 2024 5 - Dec - 2024 4950 GBP
Madrid , Spain 1 - Dec - 2024 5 - Dec - 2024 6950 GBP
Munich , Germany 1 - Dec - 2024 5 - Dec - 2024 7900 GBP
Berlin , Germany 1 - Dec - 2024 5 - Dec - 2024 7900 GBP
New York , United States 1 - Dec - 2024 5 - Dec - 2024 10900 GBP
Amsterdam , Netherlands 1 - Dec - 2024 5 - Dec - 2024 8100 GBP
Dubai , UAE 8 - Dec - 2024 12 - Dec - 2024 4987.5 GBP
Paris , France 8 - Dec - 2024 12 - Dec - 2024 6700 GBP
Hong Kong , Hong Kong 8 - Dec - 2024 12 - Dec - 2024 8500 GBP
Dubai , UAE 1 - Dec - 2024 5 - Dec - 2024 4987.5 GBP
Paris , France 1 - Dec - 2024 5 - Dec - 2024 6700 GBP
Hong Kong , Hong Kong 1 - Dec - 2024 5 - Dec - 2024 8500 GBP
Tokyo , Japan 15 - Dec - 2024 19 - Dec - 2024 9750 GBP
Milan , Italy 1 - Dec - 2024 5 - Dec - 2024 6950 GBP
Tokyo , Japan 8 - Dec - 2024 12 - Dec - 2024 9750 GBP
Tokyo , Japan 1 - Dec - 2024 5 - Dec - 2024 9750 GBP

Course Syllabus

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

Related Courses

FBA126

Finance and Accounting for the Oil and Gas Industry Course

Develop essential finance and accounting skills tailored for the oil and gas industry with our training course.
FBA170

Debtor and Working Capital Management Course

Develop skills in debtor and working capital management. Enroll in this course to understand strategies for optimizing financial resources and managing business debts.
FBA139

Financial Accounting and Reporting Course

Master the intricacies of financial accounting and reporting to ensure compliance and improve decision-making.
FBA113

Fast Closing Month-End and Year-End Accounts Course

Master the skills needed for fast closing of month-end and year-end accounts with our specialized training course.
FBA141

Certificate in Treasury Management Course

Acquire a comprehensive understanding of treasury management and earn a certificate through our in-depth course.
FBA122

Budgeting and Cost Control Course

Learn practical budgeting and cost control skills with our training course, ideal for managers and financial professionals.

Available Cities