Nigerian Seminars and Trainings

Search all upcoming seminars, conferences, short management courses and training in Nigeria and around the World

business logo

Inventory Accounting and Costing

By: Reenel Associates

Lagos State, Nigeria

14 - 18 Mar, 2016  5 days

Follow Event

  

NGN 220,000

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

Lagos Mar 14 - 18 Mar, 2016
NGN 220,000.00
(Convert Currency)

08053338830

Related Courses
The Effective Female Leader The Effective Female Leader

3 days, 24 - 26 Sep, 2018 

2018-09-24 12:09:00
Abuja FCT, Nigeria

Reenel Associates

This course creates confident and powerful female leaders: women who are ready to step up and be acknowledged for the great leaders they truly are. By the end of this course, participants will be ...

Certificate in Advanced Project Management Certificate in Advanced Project Management

5 days, 09 - 13 Jul, 2018 

2018-07-09 12:07:00
United Arab Emirates

Reenel Associates

The overall aim of this course is to provide participants with the knowledge and the skills needed to perform in-depth analysis for a project during the planning and the implementation phases. ...

Organizational and Departmental Communication Course Organizational and Departmental Communication Course

5 days, 13 - 17 Aug, 2018 

2018-08-13 12:08:00
South Africa

Reenel Associates

Communication is a critical organizational function that canhelp a company stay efficient and productive. One of the more important forms of organizational communication is interdepartmental ...

Product Launch and Management Product Launch and Management

5 days, 15 - 19 Oct, 2018 

2018-10-15 12:10:00
Abuja FCT, Nigeria

Reenel Associates

The product launch and management course provides all that is needed to develop an integrated product launch plan. It ensures that nothing goes haywire when the product goes live in the market. This ...