Inventory and Merchandising Transactions Training

Topics Covered

• Course Introduction
• Accounting Fundamentals Refresher
• Merchandising Business Overview
• Accounting Cycle for Merchandising Businesses
• Inventory Accounting Fundamentals
• Types of Inventory
• Financial Impact of Inventory
• Inventory Documentation
• Accounting Standards for Inventory
• Digital Inventory Management

Practical Workshops

• Understand merchandising transactions
• Record inventory transactions
• Review accounting workflows
• Analyze inventory documents

Topics Covered

• Merchandise Purchases
• Merchandise Sales
• Credit Sales
• Credit Purchases
• Purchase Returns and Allowances
• Sales Returns and Allowances
• Freight-In and Freight-Out
• Trade Discounts
• Cash Discounts
• Merchandising Accounting Entries

Practical Workshops

Prepare:

• Purchase transactions
• Sales transactions
• Return entries
• Discount calculations

Topics Covered

• Inventory Tracking Systems
• Perpetual Inventory System
• Periodic Inventory System
• Inventory Recording Procedures
• Inventory Reconciliation
• Inventory Adjustments
• Inventory Count Procedures
• Cycle Counting
• Stock Verification
• System Comparisons

Practical Workshops

Develop:

• Perpetual inventory records
• Periodic inventory schedules
• Inventory reconciliation reports
• Stock verification documents

Topics Covered

• Purchase Discounts
• Sales Discounts
• Inventory Shrinkage
• Inventory Losses
• Damaged Inventory
• Obsolete Inventory
• Returns Processing
• Inventory Write-Offs
• Inventory Adjustments
• Internal Controls

Practical Workshops

Calculate:

• Inventory adjustments
• Shrinkage reports
• Return accounting
• Inventory loss analysis

Topics Covered

• Cost of Goods Sold (COGS)
• Gross Profit Calculation
• Multi-Step Income Statement
• Balance Sheet
• Inventory Presentation
• Inventory Disclosures
• Financial Performance Analysis
• Inventory Ratios
• Gross Margin Analysis
• Financial Reporting

Practical Workshops

Prepare:

• Income statements
• Balance sheets
• Gross profit reports
• Inventory analysis reports

Topics Covered

• Inventory Costing Fundamentals
• Cost Flow Assumptions
• Specific Identification Method
• FIFO Method
• LIFO Method
• Weighted Average Method
• Cost Allocation
• Inventory Valuation
• Cost Comparisons
• Accounting Standards

Practical Workshops

Perform:

• Inventory costing
• Inventory valuation
• Cost comparisons
• COGS calculations

Topics Covered

• Periodic FIFO
• Periodic LIFO
• Periodic Weighted Average
• Inventory Calculations
• Cost of Goods Sold
• Ending Inventory
• Inventory Reporting
• Comparative Analysis
• Inventory Adjustments
• Financial Impact

Practical Workshops

Develop:

• FIFO calculations
• LIFO calculations
• Weighted average schedules
• Inventory valuation reports

Topics Covered

• Perpetual FIFO
• Perpetual LIFO
• Perpetual Weighted Average
• Continuous Inventory Tracking
• Inventory Valuation
• COGS Computation
• Inventory Reporting
• Inventory Reconciliation
• System Comparisons
• Performance Analysis

Practical Workshops

Prepare:

• Perpetual inventory records
• COGS schedules
• Inventory valuation reports
• Inventory performance analysis

Topics Covered

• Lower of Cost and Net Realizable Value (LCNRV)
• Inventory Write-Downs and Write-Offs
• Inventory Impairment
• IFRS and Ind AS Inventory Standards
• Inventory Valuation Policies
• Financial Statement Disclosures
• Accounting Estimates
• Inventory Compliance
• Audit Considerations
• Reporting Best Practices

Practical Workshops

Perform:

• Inventory valuation adjustments
• LCNRV calculations
• Inventory impairment analysis
• Compliance reporting

Topics Covered

• Inventory Control Framework
• Warehouse Operations
• Stock Management
• Safety Stock Planning
• Reorder Level Calculations
• ABC Inventory Analysis
• Inventory Turnover
• Cycle Counting
• Barcode and RFID Concepts
• Inventory Internal Controls

Practical Workshops

Develop:

• Inventory control procedures
• Warehouse stock reports
• Inventory turnover analysis
• ABC classification reports

Topics Covered

• Procurement Cycle
• Purchase Order Processing
• Goods Receipt Process
• Supplier Management
• Vendor Accounting
• Freight and Logistics Costs
• Supply Chain Cost Analysis
• Procurement Reporting
• Inventory Cost Optimization
• Procurement Controls

Practical Workshops

Prepare:

• Procurement accounting entries
• Purchase order tracking
• Supplier reconciliation
• Logistics cost analysis

Topics Covered

• Inventory Turnover Ratio
• Days Inventory Outstanding (DIO)
• Gross Margin Analysis
• Inventory Aging Analysis
• Slow-Moving Inventory
• Dead Stock Identification
• Stock Optimization
• Inventory KPIs
• Inventory Dashboards
• Business Decision Support

Practical Workshops

Analyze:

• Inventory performance
• Inventory KPIs
• Gross margin reports
• Stock optimization opportunities

Topics Covered

• Excel for Inventory Management
• Inventory Registers
• Stock Reconciliation
• Inventory Costing Models
• PivotTables and PivotCharts
• Lookup Functions
• Inventory Dashboards
• Inventory Forecasting
• Automated Reports
• Data Validation

Practical Workshops

Build:

• Inventory registers
• Costing templates
• Inventory dashboards
• Automated inventory reports

Topics Covered

• Artificial Intelligence in Inventory Management
• ERP Inventory Concepts
• Warehouse Management Systems (WMS)
• Inventory Automation
• Demand Forecasting
• Predictive Inventory Analytics
• Intelligent Stock Replenishment
• Cloud Inventory Systems
• Ethical AI in Supply Chain
• Future of Inventory Management

Practical Workshops

Explore:

• AI-powered inventory forecasting
• ERP inventory workflows
• Automated stock replenishment
• Digital inventory management

Topics Covered

• Retail Inventory Case Studies
• Manufacturing Inventory Cases
• Wholesale Inventory Scenarios
• Warehouse Operations Cases
• Inventory Shrinkage Analysis
• Costing Method Comparisons
• ERP Inventory Examples
• Financial Reporting Cases
• Industry Best Practices
• Lessons Learned

Practical Workshops

Evaluate:

• Inventory accounting scenarios
• Stock reconciliation exercises
• Inventory valuation cases
• Merchandising performance analysis

Comprehensive Industry Project

Participants will:

• Record merchandising transactions using periodic and perpetual inventory systems.
• Account for purchases, sales, returns, allowances, discounts, freight, and inventory adjustments.
• Calculate inventory valuation using FIFO, LIFO, Weighted Average, Specific Identification, and LCNRV methods.
• Compute Cost of Goods Sold (COGS), ending inventory, gross profit, and inventory performance metrics.
• Perform stock reconciliation, inventory verification, and inventory control procedures.
• Prepare merchandising income statements, balance sheets, and inventory-related financial reports.
• Build Microsoft Excel-based inventory registers, costing models, dashboards, and reconciliation reports.
• Apply ERP inventory concepts and AI-powered inventory analytics to improve inventory visibility and operational efficiency.
• Ensure compliance with accounting standards, documentation requirements, and inventory control procedures.
• Present a complete inventory accounting and merchandising project based on a real-world retail or manufacturing business scenario.