Introduction
Effective inventory accounting and cost management are important components of financial stability and operational efficiency in any organization. The course is designed to provide participants with deep knowledge and practical skills to manage inventory accurately and control costs effectively. This course covers key concepts, methodologies, and best practices in inventory accounting and cost management, equipping participants with the tools needed to enhance their organization’s financial performance and operational efficiency. Participants will learn how to apply inventory and cost management strategies that align with organizational goals.
Course Outline
- Module 1
- Module 2
- Module 3
- Module 4
- Module 5
- Course Objectives
- Target Audience
Introduction to inventory
- Inventory accounting principles.
- Types of inventory and classifications.
- Inventory valuation methods.
- Accounting for inventory transactions.
- Inventory turnover ratios.
Inventory Valuation & Cost Allocation
- Methods of inventory valuation and their implications.
- Cost allocation techniques and overhead management.
- Impact of inventory valuation on financial statements.
- Analysing cost flows and inventory costing methods.
- Inventory write-downs and obsolescence accounting.
Cost Management Strategies
- Introduction to warehouse management.
- Importance of efficient warehouse layout.
- Warehouse design and layout optimization.
- Factors influencing warehouse layout decisions.
- Techniques for maximizing warehouse space.
- Material handling in warehouse management.
Inventory Analysis
- Analysing inventory data for decision-making.
- Inventory metrics and key performance indicators (KPIs).
- Demand forecasting and inventory planning.
- Balancing inventory levels with demand variability.
- Inventory replenishment strategies and safety stock.
Optimizing Inventory & Reducing Costs
- Strategies for inventory optimization.
- Just-In-Time (JIT) and lean inventory management.
- Reducing carrying costs and stockouts.
- Technology solutions for inventory control.
By the end of this course, participants will be able to:
- Explore the principles and methods of inventory accounting.
- Develop skills in accurate inventory valuation and cost allocation.
- Learn to implement effective cost management strategies.
- Understand the role of forecasting in inventory management.
- Master techniques to optimize inventory levels and reduce costs.
This course is ideal for
- Accountants.
- Auditors & internal control officers.
- Inventory managers & supervisors.
- Financial managers.
- Operations managers.
- Supply chain & logistics managers.
Course Schedule & Fees
- Kuala Lumpur
- Singapore
- Amsterdam
- Online
- Course Fees
This course will take place in Kuala Lumpur on the following dates:
| 19/05/2025 | 02/06/2025 | 16/06/2025 | 30/06/2025 |
| 14/07/2025 | 28/07/2025 | 11/08/2025 | 25/08/2025 |
| 08/09/2025 | 22/09/2025 | 06/10/2025 | 20/10/2025 |
| 03/11/2025 | 17/11/2025 | 01/12/2025 | 15/12/2025 |
| 29/12/2025 | 12/01/2026 | 26/01/2026 | 09/02/2026 |
This course will take place in Singapore on the following dates:
| 12/05/2025 | 02/06/2025 | 23/06/2025 | 14/07/2025 |
| 04/08/2025 | 25/08/2025 | 15/09/2025 | 06/10/2025 |
| 27/10/2025 | 17/11/2025 | 08/12/2025 | 29/12/2025 |
| 19/01/2026 | 09/02/2026 |
This course will take place in Amsterdam on the following dates:
| 05/05/2025 | 26/05/2025 | 16/06/2025 | 07/07/2025 |
| 28/07/2025 | 18/08/2025 | 08/09/2025 | 29/09/2025 |
| 20/10/2025 | 10/11/2025 | 01/12/2025 | 22/12/2025 |
| 12/01/2026 | 02/02/2026 | 23/02/2026 |
This course will take place Online the following dates:
| 27/05/2025 | 24/06/2025 | 22/07/2025 | 19/08/2025 |
| 16/09/2025 | 14/10/2025 | 11/11/2025 | 09/12/2025 |
| 06/01/2026 | 03/02/2026 |
| Kuala Lumpur | Singapore | Amsterdam | Online |
| USD$ 3,580 | USD$ 5,600 | USD$ 5,600 | USD$ 1,920 |
