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

14 - 25 Mar, 2016  12 days

Follow Event

  

NGN 320,000

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 14 - 25 Mar, 2016
NGN 320,000.00
(Convert Currency)

08053338830

Related Courses
Advanced Communication Skills Advanced Communication Skills

3 days, 08 - 10 Nov, 2017 

2017-11-08 12:11:00
Abuja FCT, Nigeria

Reenel Associates

Whether you communicate under pressure, manage challenges in interpersonal relationships or look to build lasting rapport, your communication style and competence are the cornerstones for improving ...

Corporate Social Responsibility (CSR) Corporate Social Responsibility (CSR)

3 days, 04 - 06 Sep, 2017 

2017-09-04 12:09:00
Abuja FCT, Nigeria

Reenel Associates

Corporate Social Responsibility (CSR) is the principle which drives businesses to support communities and people without expecting direct financial returns. It is best demonstrated when CSR practices ...

Fundamentals of Purchasing Fundamentals of Purchasing

3 days, 06 - 08 Dec, 2017 

2017-12-06 12:12:00
Abuja FCT, Nigeria

Reenel Associates

What makes a successful buyer in this age? In this course, we will discuss all the tools and techniques required to become a successful buyer. We will also cover the basic principles of the ...

Senior Secretaries and Personal Assistants’ Programme Senior Secretaries and Personal Assistants’ Programme

3 days, 04 - 06 Sep, 2017 

2017-09-04 12:09:00
Abuja FCT, Nigeria

Reenel Associates

This course is ideal for administrators, office managers, executive secretaries and personal assistants seeking to build on essential practical skills to improve knowledge of office ...