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

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)


Related Courses
Managing Conflict: Power Through Influence Managing Conflict: Power Through Influence

3 days, 18 - 20 Jun, 2018 

2018-06-18 12:06:00
Lagos State, Nigeria

Reenel Associates

If not managed properly, interpersonal issues and conflicts within teams can derail the best laid plans. In this training course you will learn how to resolve even the most problematic situations ...

Competencies: Design, Development and Implementation Competencies: Design, Development and Implementation

3 days, 23 - 25 Jul, 2018 

2018-07-23 12:07:00
Abuja FCT, Nigeria

Reenel Associates

Elevating the human resources practice in any organization and turning it into a systematic approach based on factual observations and numbers is how we will take the HR profession to the next level. ...

Anti-Money Laundering Anti-Money Laundering

3 days, 18 - 20 Jun, 2018 

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

Reenel Associates

This course provides a comprehensive and practical analysis of Money Laundering schemes, Anti-Money Laundering legislation, and counter-measure techniques and implementation. Participants will learn ...

Succession Planning Succession Planning

3 days, 15 - 17 Oct, 2018 

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

Reenel Associates

This course is designed for HR managers, and organisational managers, who wish to develop the understanding and ability to produce effective resourcing plans, manage talent and develop ...