Financial Accounting – Inventory Costs


We cowl stock prices and price flows, together with what’s included in the price of stock and tips on how to account for stock freight prices, stock insurance coverage prices, and low cost. We additionally focus on stock circulation 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 shall be mentioned utilizing each a periodic stock system and a perpetual stock system. 

Along with educational video, this course will embrace downloadable

•    Downloadable PDF Recordsdata

•    Excel Follow Recordsdata

•    A number of Alternative Follow Questions

•    Brief Calculation Follow Questions

•    Dialogue Questions

The PDF recordsdata enable us to obtain reference data we will use offline and as a information to assist us work by way of the fabric.

Excel follow recordsdata shall be preformatted in order that we will give attention to the adjusting course of and studying among the fundamentals of Excel, like addition, subtraction, and cell relationships.

A number of alternative instance query helps us enhance our test-taking expertise by decreasing the data into the scale and format of a number of alternative questions and discussing tips on how to strategy these questions.

Brief calculation questions assist us cut back issues which have some calculation right down to a brief format that may very well be utilized in a number of alternative questions.

Dialogue Query will present a possibility to debate these subjects with the trainer 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’ll be studying from someone who has technical expertise in accounting ideas and in accounting software program like QuickBooks, in addition to expertise instructing and placing collectively curriculum.

You’ll be studying from someone who’s a:

•    CPA – Licensed Public Accountant

•    CGMA – Chartered World Administration Accountant

•    Grasp of Science in Taxation

•    CPS – Certifies Put up-Secondary Teacher

•    Curriculum Growth Export

As a practising CPA the trainer has labored with many technical accounting points and helped work by way of them and focus on them with purchasers of all ranges.

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

The teacher additionally has a number of expertise designing programs and studying how college students study finest and tips on how to assist college students obtain their targets. Expertise designing technical programs has additionally profit in having the ability to design a course in a logical trend and take care of issues associated to technical subjects and using software program like QuickBooks Professional.

Abstract of what is going to be coated: 

  • Stock Monitoring strategies
    • Particular identification methodology
    • First in first out (FIFO) methodology
    • Final in first out (LIFO) methodology
    • Weighted common methodology
  • Stock prices
    • Fright
    • Insurance coverage
    • Buy reductions
  • Periodic system verses a perpetual system. 
    • We focus on FIFO, LIFO, and weighted common beneath every system. 
  • Key definitions
  • Complete drawback

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