Sách Inventory Accounting: A Comprehensive Guide

Product Description

Dramatically improve inventory accuracy with bestselling author Steven Bragg's step-by-step guidelines


Inventory Accounting is a comprehensive, step-by-step guide to setting
up an inventory accounting system and keeping it running at maximum
efficiency. This hands-on book provides accounting professionals with
essential information on how to:
* Set up an accounting system that
efficiently handles accumulating inventory costs, summarizing accounts,
and standard journal entries used to record transactions
* Use best practices to increase the efficiency of inventory-tracking and costing functions
* Install unique controls to combat inventory fraud
* Implement a step-by-step checklist of activities for inventory counting procedures
* Save hours of valuable time researching various GAAP reference manuals
* Adapt inventory tracking and costing systems to accommodate a variety of manufacturing systems


Spanning the entire spectrum of inventory accounting, Inventory
Accounting deftly explores every facet of the field to help
professionals eliminate inaccuracies from their inventory accounting
systems.


From the Inside Flap

Accurate
inventory accounting is vital to every company that has a significant
proportion of its assets in inventory. It can also be one of the most
difficult tasks faced by the accounting department. Accurate inventory
valuation requires excellent inventory tracking systems, warehouse
layouts, and cycle counting procedures, as well as detailed cost
accumulation systems. In addition, generally accepted accounting
principles (GAAP) contain a number of requirements for the proper
treatment of inventory valuation. In Inventory Accounting, bestselling
author Steven Bragg culls his decades of experience to help CFOs,
controllers, accounting managers, and cost accountants track, cost,
report, and budget their inventory with great success.
Inventory Accounting provides professionals with a wellspring of essential day-to-day information, including:

How
to use coding, wireless data transmission, radio frequency
identification, document imaging, and electronic data interchange to
collect inventory data
How to flow inventory through basic manufacturing, manufacturing resources planning, and just-in-time systems
Sixty-eight
unique inventory controls in such areas as in-transit inventory,
inventory storage, obsolete inventory, and inventory transactions
How to recognize eighteen types of inventory fraud
A variety of measurements, forms, and reports for determining the status of inventory levels and related systems
A successful budgeting process for raw materials, work-in-process, and finished goods inventories
How
to use a number of inventory cost layering systems, including FIFO,
LIFO, dollar value LIFO, link-chain, and weighted average methods
How to apply lower of cost, or market rule
Coverage of overhead cost pools and how to apply those costs to inventory (including activity-based costing)
Various cost allocation and pricing methodologies for inventory designated as joint products or by-products
How to locate, dispose of, and account for obsolete inventory
How to create an inventory tracking system and conduct periodic physical counts and cycle counts
An
expansive compendium of inventory-related information, Inventory
Accounting is a one-stop resource for everything pertaining to the
proper accounting treatment of inventory, as well as the best practices
for organizing a warehouse and conducting inventory counts.