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PRODID://NDCP//418999
BEGIN:VEVENT
DTSTAMP:20260506T004514
VTIMEZONE:America/Chicago
DTSTART:20260410T130000Z
DTEND:20260410T163000Z
UID:418999
SUMMARY:Surgent's Mastering the Basics of Inventory Accounting (INV4)
LOCATION:Webinar
DESCRIPTION:Surgent's Mastering the Basics of Inventory Accounting (INV4)\n\n04/10/26 08:00 AM CST\n - 04/10/26 11:30 AM CST\Description:\nWhile many entities maintain inventory, they are often challenged when applying the complexities of inventory accounting. The goal of this course is to provide a detailed overview of inventory accounting concepts that can be applied to a variety of inventory types.
 The course will cover the basics of inventory capitalization, for both book and tax, as well as the basic inventory valuation methods, LIFO, FIFO, weighted average, and specific identification. Then the course will give a more detailed review of the LIFO and retail methodologies. It will cover the topics of inventory obsolescence reserves and other issues related to inventory accounting, including a discussion of how COVID-19 has impacted these accounting considerations.
 This course will be the one-shop stop to get you up-to-speed on the accounting for this critical, revenue-producing asset.Objectives:
 Recall the elements of inventory cost for book and income tax accounting purposes
 Apply inventory valuation methodologies to various types of inventory
 Determine reserve methodologies for inventory obsolescence
 Determine appropriate inventory observation approaches
 Recall issues related to consignment inventory
 Presenters:Samuel Monastra, CPAField of Study:Accounting (4)Major Topics:
 Elements of inventory cost and full-absorption costing
 Valuation methodologies, including LIFO, FIFO, weighted average, and specific identification
 Obsolescence reserves
 LIFO accounting
 Differences between book and tax cost capitalization and related income tax accounting
 Retail inventory valuation methodology
 Physical inventory observation approaches
 Accounting issues related to consigned inventory
 Other challenging issues related to inventory accounting
 \Location:\nWebinar\n\n,
X-ALT-DESC;FMTTYPE=text/html:Surgent's Mastering the Basics of Inventory Accounting (INV4)<br /><br />04/10/26 08:00 AM CST - 04/10/26 11:30 AM CST<br />Description:<br />While many entities maintain inventory, they are often challenged when applying the complexities of inventory accounting. The goal of this course is to provide a detailed overview of inventory accounting concepts that can be applied to a variety of inventory types.<br />
<br />
The course will cover the basics of inventory capitalization, for both book and tax, as well as the basic inventory valuation methods, LIFO, FIFO, weighted average, and specific identification. Then the course will give a more detailed review of the LIFO and retail methodologies. It will cover the topics of inventory obsolescence reserves and other issues related to inventory accounting, including a discussion of how COVID-19 has impacted these accounting considerations.<br />
<br />
This course will be the one-shop stop to get you up-to-speed on the accounting for this critical, revenue-producing asset.<br><br><b>Objectives:</b><br><ul>
    <li>Recall the elements of inventory cost for book and income tax accounting purposes</li>
    <li>Apply inventory valuation methodologies to various types of inventory</li>
    <li>Determine reserve methodologies for inventory obsolescence</li>
    <li>Determine appropriate inventory observation approaches</li>
    <li>Recall issues related to consignment inventory</li>
</ul><br><b>Presenters:</b><br>Samuel Monastra, CPA<br><br><b>Field of Study:</b><br>Accounting (4)<br><br><b>Major Topics:</b><br><ul>
    <li>Elements of inventory cost and full-absorption costing</li>
    <li>Valuation methodologies, including LIFO, FIFO, weighted average, and specific identification</li>
    <li>Obsolescence reserves</li>
    <li>LIFO accounting</li>
    <li>Differences between book and tax cost capitalization and related income tax accounting</li>
    <li>Retail inventory valuation methodology</li>
    <li>Physical inventory observation approaches</li>
    <li>Accounting issues related to consigned inventory</li>
    <li>Other challenging issues related to inventory accounting</li>
</ul><br />Location:<br />Webinar<br /><br />,  
PRIORITY:3
TRANSP:TRANSPARENT
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