GAAP: Accounting for Inventory


Instructor: Christy Foister
Product ID: 705203

  • Duration: 60 Min
For manufacturers and retailers inventory is one of the most valuable assets on the balance sheet. The cost of inventory is one of the largest expenses on the income statement. Practitioners and members in industry will benefit from this training program’s comprehensive guidance on inventory accounting issues.
Last Recorded Date: Feb-2018


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Why Should You Attend:

The primary authoritative guidance related to inventory is FASB Accounting Standards Codification (ASC) 330, Inventory. The basic objective of inventory accounting is to identify, on a consistent basis, costs applicable to goods on hand at the end of the period and costs that should be included in the cost of goods sold for the period.

This webinar will explore the specific issues in meeting this objective include determining: (a) what items should be included in inventory; (b) what expenditures should be included in inventory costs; (c) which cost method should be used; and (d) how recognition should be given to the lack of recoverability of inventory costs.

Areas Covered in the Webinar:

  • Costs to include in inventory
  • Inventory cost methods
  • Inventory valuation
  • LIFO reserve
  • LIFO liquidation
  • Dollar value LIFO
  • Subsequent measurement issues
  • Quantitative examples

Who Will Benefit:

  • CPAs
  • Managerial Accountants
  • Business Owners
  • Chief Financial Officers
  • Compliance Managers and Officers
  • Risk Managers and Officers
  • Controllers
  • Retail Businesses Owners
  • Lenders and Investors
  • Accountants
  • Finance Attorney
  • Auditors
  • Internal Control Professionals
  • Operating Managers of Manufacturing Facilities
Instructor Profile:
Candace Leuck

Christy Foister
Senior Accountant, Billion-dollar bank

Christy Foister is the Senior Accountant at a billion-dollar bank, where she specialized in the Quarterly Call Report, Financial Statements and Consolidations of multiple companies. Through the first part of her career, she worked in public accounting preparing taxes for individuals, small business, and corporations. During those six years, she also performed internal audits for banks. Although most of her career has been in banking, she has maintained client relationships with her tax clients and has multiple clients that she performs bookkeeping and taxes services for on an annual basis. She owes her knowledge of Accounting to Florida State University College of Business where she received a double major in Accounting and Real Estate.

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Our refund policy is governed by individual products and services refund policy mentioned against each of offerings. However in absence of specific refund policy of an offering below refund policy will be effective.
Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time. On-Demand Recording purchases will not be refunded as it is available for immediate streaming. However if you are not able to view the webinar or you have any concern about the content of the webinar please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).




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