Inventory Accounting GAAP, Software and Recognizing Variances

Overview

Many organizations struggle to keep budgets current in an ever-changing business climate.  Twenty-first century performance metrics focus on determining what budgets should be rather than what they were in the past.  Using performance metrics effectively reduces work, reduces politics, provides flexibility and substantially improves the performance management process.  This session will show you powerful techniques to drive your organization’s performance.

Highlights

• Inventory accounting
• GAAP
• Methods for dealing with variances

Prerequisites

None

Designed For

Financial professionals who deal with inventory

Objectives

• GAAP/IFRS for inventory
• Understanding Inventory software
  • Inventory master files
  • Bill of Materials (BOM)
  • Indented Bill of Materials
  • Routings
• Variance recognition
• Keeping costs current

Preparation

None