Chapter
1:
Chapter 1: Inventory Costing Overview
This chapter introduces the basic concepts and terms commonly used in inventory accounting.
Main Topics - Inventory Costs
- Inventory Accounting
After completing this chapter, students should be able to: - Interpret the basic concepts behind calculation of inventory value.
- Differentiate capitalized and non-capitalized costs.
- Understand the valuation of cost objects in relation to their direct and indirect costs.
- Distinguish the cost flow assumptions that support the various costing methods.
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Chapter
2:
Chapter 2: Inventory Costing Principles
This chapter explains in broad terms how Microsoft Dynamics NAV 2009 records the cost of goods sold through the posting process and eventually calculates the value of ending inventory.
Main Topics After completing this chapter, students should be able to: - Follow the process of recording quantity and value changes in entries.
- Distinguish the different types of information that are recorded in item ledgerentries and value entries.
- Define how inventory values are posted in the general ledger.
- Interpret the concept of inventory periods.
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Chapter
3:
Chapter 3: Inventory Costing Functionality
This chapter provides the details as to how the program calculates the flow of cost from acquisitions to outbound transactions and how adjustments to those costs are made with the adjustment batch job.
Main Topics - Inventory Acquisition
- Cost of Goods Sold
- Inventory Transfers and Returns
- Inventory Adjustment
- Rounding
After completing this chapter, students should be able to: - Follow the process of assigning costs to acquisitions, including unit cost calculation.
- Interpret the flow of costs from purchases to sales for the various costing methods.
- Interpret how various entries are applied against each other.
- Create and remove application entries.
- Follow the cost flow for transfers and returns.
- Explain the purpose and functioning of the inventory adjustment batch job.
- Define how and why the program creates rounding value entries.
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Chapter
4:
Chapter 4: Inventory Valuation Functionality
This chapter explains in detail how the program calculates the value of inventory and posts that value to the general ledger, and how the value can be adjusted and revalued.
Main Topics - Inventory Valuation
- Posting Inventory Costs to the General Ledger
- Inventory Revaluation
- Physical Inventory
After completing this chapter, students should be able to:
- Interpret how inventory value is calculated in Microsoft Dynamics NAV 2009.
- Post inventory value from value entries to the accounts in the general ledger.
- Trace G/L entries to source value and item ledger entries.
- Explain how the program handles expected costs, both in normal posting flow and in posting to the general ledger.
- Monitor the status of reconciliation between G/L and item ledger.
- Revalue inventory items using the revaluation journal.
- Perform physical inventory counting.
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Chapter
5:
Chapter 5: Setting Up Inventory Costing
This chapter explains how to set up the program to handle a company’s inventory costing needs.
Main Topic After completing this chapter, students should be able to: - Set up inventory periods for a company in Microsoft Dynamics NAV 2009.
- Set up the inventory costing options.
- Set up individual items to use the correct costing method.
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