Financial Accounting – Inventory Costs

We cowl stock prices and value flows, together with what’s included in the price of stock and methods to account for stock freight prices, stock insurance coverage prices, and low cost. We additionally talk about stock stream assumptions together with particular identification, first in first out (FIFO), final in first out (LIFO), and weighted common strategies. FIFO, LIFO and weighted common strategies might be mentioned utilizing each a periodic stock system and a perpetual stock system. 

In addition to tutorial video, this course will embody downloadable

•    Downloadable PDF Files

•    Excel Practice Files

•    Multiple Choice Practice Questions

•    Short Calculation Practice Questions

•    Discussion Questions

The PDF information permit us to obtain reference info we will use offline and as a information to assist us work via the fabric.

Excel follow information might be preformatted in order that we will concentrate on the adjusting course of and studying a few of the fundamentals of Excel, like addition, subtraction, and cell relationships.

Multiple selection instance query helps us enhance our test-taking abilities by lowering the knowledge into the scale and format of a number of selection questions and discussing methods to strategy these questions.

Short calculation questions assist us scale back issues which have some calculation all the way down to a brief format that may very well be utilized in a number of selection questions.

Discussion Question will present a chance to debate these subjects with the teacher and different college students, a course of many college students discover very useful as a result of it permits us to see the subject from totally different viewpoints.

Who will we be studying from?

You might be studying from anyone who has technical expertise in accounting ideas and in accounting software program like QuickBooks, in addition to expertise instructing and placing collectively curriculum.

You might be studying from anyone who’s a:

•    CPA – Certified Public Accountant

•    CGMA – Chartered Global Management Accountant

•    Master of Science in Taxation

•    CPS – Certifies Post-Secondary Instructor

•    Curriculum Development Export

As a training CPA the teacher has labored with many technical accounting points and helped work via them and talk about them with shoppers of all ranges.

As a CPS and professor, the teacher has taught many accounting lessons and labored with many college students within the fields of accounting, enterprise, and enterprise purposes.

The teacher additionally has loads of expertise designing programs and studying how college students be taught finest and methods to assist college students obtain their targets. Experience designing technical programs has additionally profit in with the ability to design a course in a logical style and take care of issues associated to technical subjects and the usage of software program like QuickBooks Pro.

Summary of what’s going to be coated: 

• Inventory Tracking strategies
  • Specific identification technique
  • First in first out (FIFO) technique
  • Last in first out (LIFO) technique
  • Weighted common technique
• Inventory prices
  • Fright
  • Insurance
  • Purchase reductions
• Periodic system verses a perpetual system. 
  • We talk about FIFO, LIFO, and weighted common beneath every system. 
• Key definitions
• Comprehensive drawback

Who this course is for:

• Accounting college students
• Business proprietor
• Anyone who whats to be taught accounting