Inventory Accounting and Costing Techniques

  • Start Date

    28 May, 2019

  • End Date

    31 May, 2019

  • Price

    ₦150,000

Event Details

By the end of the workshop, participants will able to:

- Properly account for write-downs, write backs and impact of changes including accounting policies in  financials

- Report and disclose inventory accurately by adhering to internationally recognized conventions.

- Understand inventory cost allocation techniques and cost accounting approaches.

 

CONTENT

 

Introduction to Inventory

- Current assets and inventory management

- Reasons for keeping inventory

- Inventory cycle from purchases to sales

- Understanding and analyzing inventory ratios

 

Accounting for Inventory

- Inventory flow from balance sheet to income statement

- Perpetual vs periodic inventory method

- Measurement after recognition

- Accounting for inventory

- Inventory cost flow assumptions

- Inventory required disclosures

- Inventory estimation techniques

 

Inventory Costing Techniques

- Cost accounting versus financial accounting

- Cost allocation techniques

- Initial  recognition

 

Cost Accounting Approaches

- Standard cost accounting

- Activity-based costing (ABC)

- Life cycle accounting

- Thruput accounting

- Lean accounting

 

FOR WHOM: Accountants, Auditors and other Financial Managers in both the Public and Private Sectors.

 

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

 

Date:

1ST BATCH: 28th – 31st May, 2019

2ND BATCH: 19th – 22nd November, 2019

Other Dates

Start Date End Date
19 Nov, 2019 22 Nov, 2019
Start Date End Date
28 May, 2019 31 May, 2019
  • Venue

    Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor), Yaba Lagos.

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