Accounting for Merchandising Operations ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
There are several unique accounting issues associated with a merchandising operation. The accountant needs to be well-versed in the flow of costs through the inventory system, transactions relating to the purchase and sale of merchandise, gift cards, sales taxes, and more. This course addresses all of these topics and provides examples to enhance the reader’s understanding of each one.
Highlights
The essentials of merchandising operations. The merchandising flow of costs. Recording the purchase of merchandise. Recording the sale of merchandise. Accounting for gift cards. Accounting for warranties. Accounting for sales taxes. Closing adjustments.
Prerequisites
None.
Designed For
CPA, CEOs, CFPs, accounting managers, and other accounting professionals.
Objectives
Recall the inventory costing systems that a merchandising operation might use. Identify the controls used to account for merchandise purchases. Specify the accounting used for purchase returns, discounts, and allowances. Specify the accounting used for sales returns, allowances, discounts, and coupons. Recall the circumstances under which a merchandising operation must record a loss contingency.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00