We cover inventory costs and cost flows, including what is included in the cost of inventory and how to account for inventory freight costs, inventory insurance costs, and discounts. We also discuss inventory flow assumptions including specific identification, first in first out (FIFO), last in first out (LIFO), and weighted average methods. FIFO, LIFO, and weighted average methods will be discussed using both a periodic inventory system and a perpetual inventory system.
In addition to instructional video, this course will include downloadable:
The PDF files allow us to download reference information we can use offline and as a guide to help us work through the material. Excel practice files will be preformatted so that we can focus on the adjusting process and learning some of the basics of excel, like addition, subtraction, and cell relationships.
Multiple choice example question helps us improve our test-taking skills by reducing the information into the size and format of multiple-choice questions and discussing how to approach these questions. Short calculation questions help us reduce problems that have some calculation down to a short format that could be used in multiple-choice questions.
The discussion question will provide an opportunity to discuss these topics with the instructor and other students, a process many students find very helpful because it allows us to see the topic from different viewpoints.
Instructor:
You will be learning from somebody who has technical experience in accounting concepts and in accounting software like QuickBooks, as well as experience teaching and putting together the curriculum.
You will be learning from somebody who is a:
As a practicing CPA, the instructor has worked with many technical accounting issues and helped work through them and discuss them with clients of all levels. As a CPS and professor, the instructor has taught many accounting classes and worked with many students in the fields of accounting, business, and business applications.
The instructor also has a lot of experience designing courses and learning how students learn best and how to help students achieve their objectives. Experience designing technical courses has also benefit in being able to design a course in a logical fashion and deal with problems related to technical topics and the use of software like QuickBooks Pro.
What will you learn in this course?
You should have a basic understanding of financial accounting, debits, and credits.