Nigerian Seminars and Trainings

Search conferences, training, seminars, courses and workshops in Nigeria and around the world

business logo

Inventory Accounting and Costing

By: Reenel Associates

Abuja FCT, Nigeria

28 - 30 Mar, 2016  3 days

Follow Event

  

NGN 150,000

Whether you are a merchandiser, manufacturer, contractor or a service provider, inventory has a major impact on your net income and on the balance sheet. In this course, participants are guided step by step through best practices for the purchasing process, the allocation of direct costs, indirect costs and production costs and comparisons between the different cost flow assumptions such as FIFO, LIFO and weighted average cost along with their impact on the financials and the physical counting of goods.

We will discuss the importance of having accurate inventory figures reflecting their net realizable value, use Excel and pivot tables to analyze inventory balances, calculate values of obsolete inventory and simulate calculations of weighted average cost.

Course Objectives

By the end of the training course, participants will be able to:

  • List different types and reasons to hold inventory and construct the overall inventory cycle from purchase to sales
  • Justify difference between perpetual and periodic inventory methods and evaluate inventory cost allocation techniques
  • Recognize and correctly measure inventory under international financial
  • Reporting standards (IFRS) and generally accepted accounting principles (GAAP) 
  • Account properly for write downs, write backs and impact of change in inventory accounting policies on financial statements
  • Apply professional judgment in accounting for inventory not on hand
  • Categorize different inventory cost-flow assumptions and how they affect the company’s financial position and income statement
  • Outline the various approaches for cost accounting
  • Employ excel and pivot table tools and techniques to analyze inventory and calculate weighted average costs

Target Competencies

  • Accounting
  • Financial reporting
  • Analysis
  • Excel and pivot tables

Target Audience

Inventory professionals, including supervisors, account managers, purchasing and facility supervisors and coordinators, financial controllers, new employees handling inventory, internal auditors, warehouse assistants and managers, and operations managers.

NB: These courses also run 3days, 5days, and 10days

This course also runs in Abuja / Lagos / PH

Abuja Mar 28 - 30 Mar, 2016
NGN 150,000.00
(Convert Currency)

08053338830

NST PPC Advert
Related Courses
Ethical Hacking Ethical Hacking

3 days, 18 - 20 Jun, 2018 

2018-06-18 12:06:00
Abuja FCT, Nigeria

Reenel Associates

This training course meets the standards of highly skilled security professionals by providing a comprehensive set of ethical hacking and network security skills, tools and methodologies. ...

Management Skills and Techniques for Engineers Management Skills and Techniques for Engineers

3 days, 13 - 15 Aug, 2018 

2018-08-13 12:08:00
Abuja FCT, Nigeria

Reenel Associates

This course offers engineers and technical staff who are making the transition to managerial and supervisory positions an excellent opportunity to understand the differences in mind-set between ...

Creative Problem Solving and Decision Making Creative Problem Solving and Decision Making

3 days, 11 - 13 Jun, 2018 

2018-06-11 12:06:00
Abuja FCT, Nigeria

Reenel Associates

We are continuously confronted with problems that require us to take decisions. Most don’t require any complex process to reach a decision: We’re hungry? We decide to eat. Some problems ...

Certified Public Relations Professional Certified Public Relations Professional

3 days, 03 - 05 Sep, 2018 

2018-09-03 12:09:00
Abuja FCT, Nigeria

Reenel Associates

This course will take you step-by-step through proven best approaches to PR planning and management. By following these steps, PR professionals will achieve results that can be measured and reported ...