Inventory Accounting & Costing Techniques.
Short Course by
Africa School of Project Management (ASPM)
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Course Preamble
Inventory has a major impact on your net income and on the balance sheet for any organization. In this course, participants are guided step by step through best practices of 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.
The course will also critically discuss the importance of having accurate inventory figures reflect the net realizable value, use Excel and pivot tables to analyze inventory balances, calculate values of obsolete inventory and simulate calculations of weighted average cost.
Inventory has a major impact on your net income and on the balance sheet for any organization. In this course, participants are guided step by step through best practices of 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.
The course will also critically discuss the importance of having accurate inventory figures reflect the net realizable value, use Excel and pivot tables to analyze inventory balances, calculate values of obsolete inventory and simulate calculations of weighted average cost.
Outline
Key Training Modules Introduction to Inventory ✓ Current assets and inventory management ✓ The four reasons for keeping inventory ✓ Inventory cycle from purchases to sales: ✓ Ordering and receiving ✓ Sales and delivery ✓ Best practices in count process
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Africa School of project management – offers professional courses for NGO, Government, and private sector agencies. The Africa School of Project Management (ASPM) Kenya is a membership-based professional management organization.
Over the years, the school has been pivotal in capacity building in South Sudan, Sudan, Liberia, Nigeria, Niger, Lesotho, Malawi, Mali, Swaziland, The Gambia, South Africa, Botswana, Eritrea, Ethiopia, Kenya, Uganda, Congo, Somalia, Tanzania, Yemen, Pakistan, Somalia, Burundi, and Rwanda among other countries.
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