Inventory Accounting and Costing

Why Attend

Welcome to the training program on "Inventory Accounting and Costing," designed by Commonwealth Training and Consulting Africa. This program aims to provide participants with a comprehensive understanding of inventory accounting principles and costing methods. By the end of this training, participants will be equipped with the knowledge and skills necessary to effectively manage inventory-related financial transactions and make informed decisions related to inventory valuation.

Overview

Course Outline

Schedule & Fees

Course Methodology

Instructor-led training that uses interactive learning methods, including class discussion, small group activities, and role-playing

Course Objectives

Understand the fundamental principles of inventory accounting.; Gain knowledge of various inventory costing methods and their implications.; Learn how to calculate and record inventory costs accurately.; Develop proficiency in analyzing inventory-related financial statements.; Acquire skills to evaluate inventory turnover and optimize inventory levels.; Explore strategies for managing inventory-related risks and challenges.

Target Audience

This training program is designed for accounting and finance professionals, inventory managers, supply chain managers, and individuals involved in inventory management and financial reporting. It is suitable for both beginners seeking a solid foundation in inventory accounting and costing and experienced professionals looking to enhance their knowledge and skills in this area. Overview of inventory management and its significance; Types of inventory and their characteristics; Principles and concepts of inventory accounting; Financial reporting requirements for inventory

Target Competencies

n/a

Day 1:

Introduction to Inventory Accounting

Overview of inventory management and its significance
Types of inventory and their characteristics
Principles and concepts of inventory accounting
Financial reporting requirements for inventory

Day 2:

Inventory Costing Methods

First-In, First-Out (FIFO) method
Last-In, First-Out (LIFO) method
Weighted Average Cost method
Specific Identification method
Comparison of costing methods and their impact on financial statements

Day 3:

Inventory Valuation and Cost Calculation

Determining the cost of purchases and production
Including overhead costs in inventory valuation
Evaluating inventory obsolescence and impairment
Lower of Cost or Net Realizable Value (LCNRV) concept
Recording inventory costs and valuation adjustments

Day 4:

Analysis of Inventory Financial Statements

Understanding inventory-related financial ratios
Interpreting balance sheet and income statement components
Assessing inventory turnover and days' sales in inventory
Analyzing cost of goods sold and gross profit margin
Identifying inventory-related risks and challenges

Day 5:

Inventory Management and Optimization

Inventory control techniques and strategies
Economic Order Quantity (EOQ) model
Just-in-Time (JIT) inventory management
ABC analysis for inventory categorization
Strategies for reducing excess and obsolete inventory

$4475

Istanbul

Country: Turkey

Duration: One week

Date: 10–14 Nov 2025

$1375

Zanzibar

Inventory Accounting and Costing

Overview

Course Outline

Schedule & Fees

Course Methodology

Course Objectives

Target Audience

Target Competencies

$4475

Country: Turkey

Duration: One week

Date: 10–14 Nov 2025

$1375

Country: Tanzania

Duration: One week

Date: 09–13 Mar 2026