Inventory Accounting and Costing Techniques Course

OBJECTIVE
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.

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.
DATE:
1ST BATCH: 6th – 9th May, 2025
2ND BATCH: 18th – 21th Nov, 2025