By the end of the program, participants will be able to:
- Obtain up-to-date rules covering costing and accounting for inventory, and touch base with inventory cycles from purchase to sales.
- Correctly recognize and measure inventory under International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP).
- Properly account for write-downs, write-backs and impact of change in inventory accounting policies on financial statements.
- Develop professional judgment in accounting for inventory not on hand.
- Gain knowledge of different inventory cost-flow assumptions and how they affect the company’s financial position and income statement.
- Report and disclose inventory accurately by adhering to internationally recognized conventions.
- Understand inventory cost allocation techniques and cost accounting approaches.
Who should attend:
- 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.
Meirc Training & Consulting is an independent multinational firm with close to 60 years of experience in helping regional organizations develop their human capital in management and technical fields. Since 1958, they have been entrusted by their clients to provide the most reliable training and consulting products and services in the region.See all MEIRC courses