CLOSING OF INVENTORY

Objective

Target Audience

Pre-requirements

• Knowledge of the procedures of the Inventory/Costs department and Accounting basics.

Topics addressed

• Records to be treated during the course:
  •     Types of Inputs and Outputs – TES;
  •     Products;
  •     Structures;
  •     Types of Transactions.
• Control of the Stock Balances:
  •     Starting Balances;
  •     Balances in Inventories.
• Entry of Materials
• Production Orders:
  •     Manual Production Orders.
• Manual Inventory Transactions:
  •     Internal;
  •     Production.
• Queries:
  •     Product queries;
  •     Kardex/day queries.
• Routines for Closing Inventory (Emphasis only on Physical Movement results):
  •     Calculations and Adjustments;
  •     Economic Batches;
  •     Current Balance Adjustments;
  •     Entry Costs;
  •     Redo Accrued;
  •     Redo Possession of Third Parties;
  •     Recalculation of Medium Cost;
  •     Current to Final Balance;
  •     Balance Changes.
• Kardex Report.

Course Load