Course Overview
- Course Title: Financial Accounting – Inventory Costs
- Instructor: Robert (Bob) Steele
- Target Audience: Students familiar with fundamental accounting principles and concepts
- Prerequisites: Basic understanding of Accounting, prior completion of an introductory accounting course recommended
Curriculum Highlights
- Key Topics Covered:
- Inventory costs including freight, insurance, and purchase discounts
- Inventory flow methods: Specific Identification, First-In-First-Out (FIFO), Last-In-First-Out (LIFO), and Weighted Average
- Periodic and perpetual inventory systems
- Key definitions and terms related to inventory accounting
- Key Skills Learned:
- Accurately tracking different types of inventory costs
- Implementing and distinguishing between different inventory flow methods
- Applying FIFO, LIFO, and weighted average methods in both periodic and perpetual systems
- Using Excel for managing and calculating inventory-related tasks
Course Format
- Duration: 12.5 hours on-demand video
- Format: Self-paced online course
- Resources:
- 20 downloadable resources
- Access on mobile and TV
- Certificate of completion
- Excel practice files
- Multiple-choice questions
- Short calculation practice questions
Additional Information
- Course Details: Comprehensive course on Inventory Cost & Flow - Fundamental Accounting Concepts