Inventory Management & Cost Accounting-assistant Management Accountant Practical Class

The content of this tutorial is completely designed for students who want to find a job or change jobs in the field of Management Accounting or Cost Accounting. In order to make this tutorial more practical and practical, Nicole Accounting Training Center hired a senior FCPA to write the tutorial, which took nearly half a year. And repeated trial lectures and revisions.

We believe that after you complete the course, you will have enough confidence to attend Assistant Management Accountant job interview, and can start using it directly in Cost or Management accounting work.
 
Inventory has always been a vital part of the balance sheet and Profit & Loss of major companies, because it not only involves cost accounting but is also closely linked with management accounting, logistics, and supply chain departments.

This tutorial (Session One: Inventory Tutorial) will start from the perspective of a large and medium-sized ASX LISTING FMCG company , walk through and give you a detailed and systematic scenario, ie the entire process of Inventory from purchase, through logistics to warehousing to sales and in processing Reconciliation, adjustment and EOY of accounting in inventory

Each stage of revaluation. And it will specifically explain the responsibilities corresponding to each inventory. This tutorial will also cover logistics responsibilities, such as the various processes from setting up SKU to purchase to Goods delivered and Goods receipt. 

In addition, there are many inventory Accounting duty, ie Inventory's raw material, WIP, and the entire accounting process of finished goods, reconciliation of accounts related to inventory, adjustment and revaluation of inventory, etc.

Content:

• Session 1: Inventory purchase, sale and analysis
• • Set up SKU, price and raw material, WIP, finished goods
• • Inventory purchase, Costs of Purchase, Other Costs
• • Cost Formulas
• • How to handle Goods in transit and consignment stock
• • Inventory related account reconciliation
• • Inventory reporting analysis such as gross margin analysis
• Session 2: How to handle Inventory control and accounting closing period reconciliation
• • Inventory and COGS control process
• • Inventory and related account reconciliation
• • Stock take and inventory adjustment
• • Inventory revaluation for year end
• • Net Realisable Value
• • Recognition as Expense, Effect of inventory on Balance sheet and P&L