Accounting Inventory Valuation (College Level)
- 1x (Normal)
Introduction to Inventory3:12
Significance of Inventory Valuation5:38
Valuation of Inventory3:28
Components of Cost7:54
Exclusion from Cost2:54
Net Realisable Value2:37
Techniques for Inventory Valuation2:49
Specific Identification Method3:14
FIFO Method of Valuation6:06
LIFO Method of Valuation7:44
Case Study for FIFO Method9:17
Simple Average Price Method3:23
Weighted Average Price Method2:47
Case Study on Simple Average and Weighted Average Method6:55
Retail or Adjusted Selling Price Method5:53
Case Study on Retail or Adjusted Selling Price Method5:43
Case Study FIFO Method3:02
Case Study Average Price Method3:32
Case Study Weighted Average Price Method3:59
Case Study Weighted Average Price Method Inventory Ledger8:46
Case Study 1 Adjusted Selling Price Method5:39
Case Study 2 Adjusted Selling Price Method3:06
About This Class
Welcome to this course on Accounting Inventory Valuation.
Every business involved in manufacture / trade of products will carry some inventories regularly.
Inventory may be in the form of goods held for sale in the ordinary course of Business;
Inventory may be in the process of production for such sale, or
It may be in the form or materials or supplies to be consumed in the production process or in the rending of services.
It becomes essential to value to these inventories to know
a) Income earned;
b) Financial Position;
c) Liquidity Position;
d) Compliance with statutory requirements.
Then a question would arise, How to Value the Inventory? Should it be valued at Cost or Market Price or Net Realisable Value? To answer all these, Knowledge on Inventory Valuation is essential for Entrepreneurs, Accountants / Finance Managers, Auditors, etc.
Inventory Valuation plays significant role in presenting Financial Statements in a True and Fair Form.
By taking this course, you will be learning
a) What is Inventory?
b) Significance of Inventory Valuation.
c) Measurement / Valuation of Inventory.
d) Cost of Inventory
e) Cost of Purchase
f) Cost of Conversion
g) Net Realisable Value
h) Techniques for Inventory Valuation
I) Specific Identification of Cost
j) First In First Out Method of Inventory Valuation
k) Last In First Out Method of Inventory Valuation
l) Simple Average Price Method
m) Weighted Average Price Method
n) Retail Method or Adjusted Selling Price Method.
This course is structured in self learning pace style.
This course has video lectures explaining each and every topic discussed above with writings on black/green board.
Simple English and casual presentation has been used for this course.
Few case studies were also discussed to appreciate the theory concepts.
Take this course to gain clarity on the basics of Inventory, Inventory Valuation and Techniques of Inventory Valuation.
I am a Chartered Accountant with tonnes of passion for teaching.
I teach Financial Management for Chartered Accountancy and Cost and Management Accountancy students in Ernakulam,India. and I teach 100+ Finance, Accounts, Costing, Banking, Credit Analysis, Statistics, etc. in Skillshare.
I also hold
- Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune
- Bachelors in Commerce, from Loyola College, Chennai.
I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice.
During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in
a) Financial Analysis
b) Risk Assessment
c) Viability Study
d) Evaluating business models
e) Project Finance
f) Working Capital Management, etc.
I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like
a) Project Finance
b) Credit Risk Assessment
c) Entrepreneurship Development
d) Finance for Non Finance Executives
e) Burning Desire for Entrepreneurship
I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.