Us Gaap Asc 330: Inventory Accounting

US GAAP ASC 330: Inventory Accounting

What you'll learn

 Introduction to Inventory Accounting

 Components of Inventory

 Cost of Inventory

 Inventory System

 Initial Measurement of Inventory

 Subsequent Measurement

Requirements

No prior experience is required. We will start from the very basics.

Description

US GAAP ASC 330: Inventory AccountingMaster the essential principles of US GAAP ASC 330 with this comprehensive course on Inventory Accounting. Designed for accounting professionals, financial analysts, and business owners, this course unpacks the complexities of inventory measurement, valuation, and reporting under US GAAP. Whether you're looking to sharpen your skills or gain practical knowledge, this course provides the tools you need for accurate and compliant inventory accounting.What You’ll LearnUnderstand the components of inventory and how they influence financial reporting.Explore the periodic and perpetual inventory systems and their applications.Learn the initial measurement of inventory, including the Dollar Value LIFO Method and its layering approach.Gain insights into the Retail and Conventional Retail Methods for simplified inventory valuation.Apply the Gross Profit Method for estimating inventory in specific scenarios.Master the subsequent measurement at period-end, focusing on Lower of Cost or Market (LCM) and market price determination.Explore TopicsAccounting | Financial Reporting | Inventory ValuationCourse HighlightsVideo 1: OverviewIntroduction to Inventory Accounting and its components.Video 2: Inventory SystemsA detailed exploration of Periodic and Perpetual Inventory Systems.Video 3: Initial Measurement - Dollar Value LIFOLearn to use the Dollar Value LIFO Method to adjust costs and layer inventory based on price changes.Video 4: Retail and Conventional Retail MethodsSimplify inventory tracking and valuation with retail-focused methodologies.Video 5: Gross Profit MethodUnderstand and apply the Gross Profit Method in estimating inventory.Video 6: Subsequent Measurement at Period EndDive into Lower of Cost or Market (LCM) valuation and market price determination.By the end of this course, you’ll be equipped to confidently handle inventory accounting challenges, ensuring precision and compliance in your financial reporting. Enroll now to elevate your inventory accounting expertise!

Overview

Section 1: Introduction

Lecture 1 Inventory Accounting - Overview

Section 2: Periodic and Perpetual Inventory Systems

Lecture 2 Periodic and Perpetual Inventory Systems

Section 3: Initial Measurement Dollar Value LIFO Method

Lecture 3 Initial Measurement Dollar Value LIFO Method

Section 4: Retail and Conventional Retail Method

Lecture 4 Retail and Conventional Retail Method

Section 5: Gross Profit Method

Lecture 5 Gross Profit Method

Section 6: Subsequent Measurement at Period End

Lecture 6 Subsequent Measurement at Period End

Finance students,Financial analysts,Anyone interested in a career in finance