PPT-Inventory and Cost of Goods Sold Fraud

Copyright 20142015 AICPA Unauthorized copying prohibited Identifying Inventory and Cost of Goods Sold Fraud Exposures O ne of the easiest ways to identify fraud exposures is to diagram the various kinds of transactions that can occur . Understand inventory from a business perspective.. Define inventory from an accounting perspective.. Identify which inventory items should be included in ending inventory.. Identify the effects of inventory errors on the financial statements and adjust for them.. Inventories and Cost of Goods Sold. PowerPoint Authors:. . Brandy Mackintosh. Lindsay . Heiser. Learning Objective 7-1. Describe the issues in managing different types of inventory.. Inventory Management Decisions. Chapter Eighteen. Copyright © 2014 by The McGraw-Hill Companies, Inc. All rights reserved.. McGraw-Hill/Irwin. List the key assumptions of each inventory method.. Calculate the cost of ending inventory and cost of goods sold for each inventory method.. Kimmel . ● Weygandt ● Kieso. Financial . Accounting, . Eighth . Edition. 6. CHAPTER OUTLINE. Discuss how to classify and determine. inventory.. 1. Apply inventory cost . flow methods and . discuss their . Chapter 3 . Consists of goods purchased or made and held for resale. Most health care only carry a small portion in inventory . Provide services not sell goods. Except for: Pharmacies and medical supply firms. IFRS 2nd . Edition. Kieso, Weygandt, and Warfield. . 8. Understand . the items to include as inventory . cost.. Describe . and compare the methods used to price inventories.. After studying this chapter, you should be able to:. Chapter 7. McGraw-Hill/Irwin. © 2009 The McGraw-Hill Companies, Inc.. Inventory Costing Methods. Total Dollar Amount of Goods Available for Sale. Ending Inventory. Cost of Goods Sold. Inventory Costing Method. 11. TH. Annual Accounting Educators’ Seminar. . Linda Bell. William Jewell College. Inventory Costing Demonstration Using Candy. Inventory. .  . BI. P. _____________________. GAS. CGS. PowerPoint Authors:. . Brandy Mackintosh. Lindsay . Heiser. Learning Objective 6-1. Distinguish among service, merchandising, and manufacturing. operations.. Operating Cycles. Operating Cycles. Sell. PowerPoint #3. Understand Inventory Control Methods. Help businesses account for . Ending Inventory. and help determine . Cost of Goods Sold. If Inventory consists of . large, identifiable items. , it is easy to compute the above.. Abby Schweickart. Nate Slany. Inventories are asset items that a company holds for sale in the ordinary course of business, or goods that it will use or consume in the production of goods to be sold. . kindly visit us at www.examsdump.com. Prepare your certification exams with real time Certification Questions & Answers verified by experienced professionals! We make your certification journey easier as we provide you learning materials to help you to pass your exams from the first try. Professionally researched by Certified Trainers,our preparation materials contribute to industryshighest-99.6% pass rate among our customers.Just like all our exams. kindly visit us at www.examsdump.com. Prepare your certification exams with real time Certification Questions & Answers verified by experienced professionals! We make your certification journey easier as we provide you learning materials to help you to pass your exams from the first try. Professionally researched by Certified Trainers,our preparation materials contribute to industryshighest-99.6% pass rate among our customers.Just like all our exams. Goods that will be used or consumed in the production of goods or services to be sold.. 6-. 2. Supplies. Tangible items that will be consumed in the course of normal operations.. E.g., office and janitorial supplies, lubricants, repair parts..