Physical Inventory - Introduction to Inventory Control Methods (KLplus CPE Course)

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This course will give you a fundamental understanding of the inventory control methodologies to use when working with or auditing clients in the manufacturing or retail industries.​

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Learning Objectives:

Upon completion of this course, you will be able to:

  • Recall definitions of key manufacturing and accounting terms used to describe inventory movement transactions
  • Identify the accounting impacts of inventory transactions
  • Identify attributes of cycle count approaches
  • Identify the steps of a reconciliation and differentiate it from a roll-forward
  • Identify the benefits, drawbacks, and risks of count selection methods and the cycle count process
  • Identify the documents that accompany common planning and movement transactions and when to record movement transactions

Estimated Course Duration: 82 minutes (1.5 CPE)

Delivery Method: Online Self-Study

Field of Study: Auditing

Program Level: Basic

Advance Preparation/Prerequisites: None

 

Complaint Resolution Policy/Refund Policy:

For more information regarding refund, complaint and program cancellation policies, please email us at knowledgeleader@protiviti.com.

 

CONTINUING PROFESSIONAL EDUCATION CREDITS

Protiviti is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: nasbaregistry.org.