Financial Accounting – Inventory Costs

We cowl stock prices and price flows, together with what’s included in the price of stock and easy methods to account for stock freight prices, stock insurance coverage prices, and low cost. We additionally talk about stock circulate 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 will probably be mentioned utilizing each a periodic stock system and a perpetual stock system. 

Along with tutorial 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 info we are able to use offline and as a information to assist us work by the fabric.

Excel follow recordsdata will probably be preformatted in order that we are able to give attention to the adjusting course of and studying a few of the fundamentals of Excel, like addition, subtraction, and cell relationships.

A number of selection instance query helps us enhance our test-taking expertise by lowering the knowledge into the scale and format of a number of selection questions and discussing easy methods to method these questions.

Brief calculation questions assist us cut back issues which have some calculation all the way down to a brief format that might be utilized in a number of selection questions.

Dialogue Query will present a possibility to debate these matters 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 may be studying from any individual who has technical expertise in accounting ideas and in accounting software program like QuickBooks, in addition to expertise instructing and placing collectively curriculum.

You may be studying from any individual who’s a:

•    CPA – Licensed Public Accountant

•    CGMA – Chartered World Administration Accountant

•    Grasp of Science in Taxation

•    CPS – Certifies Publish-Secondary Teacher

•    Curriculum Improvement Export

As a working towards CPA the teacher has labored with many technical accounting points and helped work by 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 functions.

The trainer additionally has loads of expertise designing programs and studying how college students study greatest and easy methods to assist college students obtain their targets. Expertise designing technical programs has additionally profit in with the ability to design a course in a logical vogue and take care of issues associated to technical matters 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 talk about FIFO, LIFO, and weighted common beneath every system. 
• Key definitions
• Complete drawback