sweet crisp and to the point, exactly what you should know and is enough to work in the inventory rich industries. And her accent is melody to ears seriously.
Are you looking to gain a deeper understanding of financial reporting and inventory valuation? In this course, we explore the different inventory costing methods, such as FIFO, LIFO, and WAVCO, and how they impact the financial statements of a company. You will also learn about the accounting treatment of inventory write-downs and how to value inventory under specific circumstances.
Inventory is an important line item in the Balance Sheet of many companies. Inventory management affects many departments in an organization—from production and sales to finance and operations. In this Advanced Financial Reporting – Inventory course, we guide you through the key concepts in accounting and financial reporting for inventories. You will learn about the four cost flow methods—FIFO, LIFO, Weighted Average Cost, and Specific Identification—and how to calculate various financial indicators under these assumptions. The Financial Reporting for Inventories course contains many practical examples and exercises showing you how to compare companies' financial statements using different valuation methods. Throughout the course, you will work on real-world case studies and projects that will help you apply your new skills in a practical setting. By the end of the course, you will have the necessary knowledge and skills to create accurate inventory valuations, prepare financial statements and analyze inventory performance. We also discuss the concept of Net Realizable Value (NRV) and its implications in financial reporting. We conclude the course by exploring the necessary inventory disclosures and the importance of inventory ratios for financial analysis. Sign up now to master your financial reporting skills and take you finance career to the next level!
In this Advanced Financial Reporting – Inventory course, we cover the following topics:
In this introductory section, you will meet your instructor and get acquainted with the course structure.What does the course cover Free
In this section, we examine the main types of inventory costs and the different cost flow assumptions (FIFO, LIFO, Weighted Average Cost, and Specific Identification). You will learn how to calculate and compare COGS, gross profit, and closing inventory balance under different inventory valuation methods. In addition, we discuss the impact of inflation and deflation on inventory indicators and ratios.Types of Inventory Costs Free Inventory Valuation Methods (Part 1) Free Inventory Valuation Methods (Part 2) Inventory Valuation Methods (Part 3) Inventory Valuation Methods (Part 4)
In the last lessons of this Advanced Financial Reporting – Inventory course, we focus on the practical applications of financial reporting. Wе demonstrate how to convert a company’s financial statements from a LIFO to a FIFO approach. We also cover the meaning of net realizable value (NRV) and its implications on inventory valuation. Last but not least, we show you how inventory disclosures look in companies’ financial statements.Converting the Financial Statements from LIFO to FIFO Converting the Financial Statements from LIFO to FIFO (Exercise) Inventory Measurement Inventory Disclosures The Importance of Inventory Analysis
with Antoniya Baltova