Current Assets - How to Value Inventory

This one-day course explains inventory valuation, its use in business, and implications for an implementation. A series of cases follow an inventory reconciliation which cover reconciliation, valuation (FIFO, LIFO, average, actual etc), goods in transit, obsolescence, work in progress.

What Does This Course Cover?
This course aims to explain inventory valuation, its use in business, implications for an implementation, and explain and demonstrate the workflow in Lawson M3. By the end of the day you should know how to reconcile and value your inventory; be an expert on the programs, and know when to use them.

By the end of the course you should be able to understand:

• The concepts of inventory valuation and some of the business requirements that can occur
• An understanding of how inventory is valued in Lawson M3, implications, and recommendations
• An understanding of how to implement these requirements in Lawson M3.

This course includes the following:

• The concept of inventory valuation and some common business requirements
• The inventory valuation workflow in Lawson M3
• There are several cases in Lawson M3 to be worked through during the course, that demonstrate some common business requirements
• The final session reviews the practical use of inventory valuation, and how it should be used and positioned on projects.

Who Should Attend?
This course is recommended for anyone who will deal with inventory/ WIP valuation or reconciliation.
A basic understanding of cost accounting; purchase and product costing; and concepts of inventory valuation are prerequisites for this course.

To be allowed to attend this course you should have taken the following courses or otherwise achieved the equivalent knowledge:

• Internal Accounting Introduction
• Purchase Costing Introduction
• Product Costing Introduction
• Purchase Costing - A series of cases
• Product Costing - A series of cases.

To benefit from this course we recommend that you have:

• 3 months experience as Financial Business Consultant
• More than 12 months experience as Purchasing, Manufacturing and Supply Chain Business Consultant.

HVI 1.00 Symbol Explanation

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