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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London26 - 3 - 202330 - 3 - 2023
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Kuala Lumpur2 - 4 - 20236 - 4 - 2023
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Istanbul9 - 4 - 202313 - 4 - 2023
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Dubai9 - 4 - 202313 - 4 - 2023
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Paris9 - 4 - 202313 - 4 - 2023
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London16 - 4 - 202320 - 4 - 2023
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Dubai16 - 4 - 202320 - 4 - 2023
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Paris16 - 4 - 202320 - 4 - 2023
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Dubai23 - 4 - 202327 - 4 - 2023
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Paris23 - 4 - 202327 - 4 - 2023
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Kuala Lumpur7 - 5 - 202311 - 5 - 2023
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Istanbul14 - 5 - 202318 - 5 - 2023
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Dubai14 - 5 - 202318 - 5 - 2023
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Paris14 - 5 - 202318 - 5 - 2023
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Dubai21 - 5 - 202325 - 5 - 2023
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Paris21 - 5 - 202325 - 5 - 2023
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London28 - 5 - 20231 - 6 - 2023
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London4 - 6 - 20238 - 6 - 2023
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Dubai4 - 6 - 20238 - 6 - 2023
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Paris4 - 6 - 20238 - 6 - 2023
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Dubai11 - 6 - 202315 - 6 - 2023
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Paris11 - 6 - 202315 - 6 - 2023
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Kuala Lumpur18 - 6 - 202322 - 6 - 2023
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Istanbul25 - 6 - 202329 - 6 - 2023
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Dubai25 - 6 - 202329 - 6 - 2023
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Paris25 - 6 - 202329 - 6 - 2023
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Istanbul2 - 7 - 20236 - 7 - 2023
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Dubai2 - 7 - 20236 - 7 - 2023
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Paris2 - 7 - 20236 - 7 - 2023
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Kuala Lumpur9 - 7 - 202313 - 7 - 2023
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Kuala Lumpur16 - 7 - 202320 - 7 - 2023
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London23 - 7 - 202327 - 7 - 2023
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Dubai6 - 8 - 202310 - 8 - 2023
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Paris6 - 8 - 202310 - 8 - 2023
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Kuala Lumpur13 - 8 - 202317 - 8 - 2023
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Istanbul20 - 8 - 202324 - 8 - 2023
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Dubai20 - 8 - 202324 - 8 - 2023
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Paris20 - 8 - 202324 - 8 - 2023
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London27 - 8 - 202331 - 8 - 2023
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Dubai27 - 8 - 202331 - 8 - 2023
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Paris27 - 8 - 202331 - 8 - 2023
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Kuala Lumpur3 - 9 - 20237 - 9 - 2023
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Dubai10 - 9 - 202314 - 9 - 2023
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Paris10 - 9 - 202314 - 9 - 2023
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London17 - 9 - 202321 - 9 - 2023
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Istanbul24 - 9 - 202328 - 9 - 2023
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Dubai24 - 9 - 202328 - 9 - 2023
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Paris24 - 9 - 202328 - 9 - 2023
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Istanbul1 - 10 - 20235 - 10 - 2023
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Dubai1 - 10 - 20235 - 10 - 2023
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Paris1 - 10 - 20235 - 10 - 2023
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London8 - 10 - 202312 - 10 - 2023
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Dubai8 - 10 - 202312 - 10 - 2023
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Paris8 - 10 - 202312 - 10 - 2023
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Dubai15 - 10 - 202319 - 10 - 2023
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Paris15 - 10 - 202319 - 10 - 2023
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Kuala Lumpur22 - 10 - 202326 - 10 - 2023
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Dubai5 - 11 - 202310 - 11 - 2023
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Paris5 - 11 - 202310 - 11 - 2023
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London12 - 11 - 202317 - 11 - 2023
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Istanbul19 - 11 - 202324 - 11 - 2023
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Dubai19 - 11 - 202324 - 11 - 2023
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Paris19 - 11 - 202324 - 11 - 2023
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Kuala Lumpur26 - 11 - 202330 - 11 - 2023
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London3 - 12 - 20237 - 12 - 2023
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Dubai3 - 12 - 20237 - 12 - 2023
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Paris3 - 12 - 20237 - 12 - 2023
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Istanbul10 - 12 - 202314 - 12 - 2023
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Dubai10 - 12 - 202314 - 12 - 2023
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Paris10 - 12 - 202314 - 12 - 2023
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Dubai17 - 12 - 202321 - 12 - 2023
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Paris17 - 12 - 202321 - 12 - 2023
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Kuala Lumpur24 - 12 - 202328 - 12 - 2023
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
- Construction and Civil Engineering Training
- Facilities Management Training
- Safety Training
- Electrical and Power Engineering Training
PDF Training Plan 2023 - 2024
- 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
- Safety Training
- Electrical and Power Engineering Training