2.0 CPE This course is one of the courses dedicated to our Controllership series. This series of courses is dedicated to exploring the traditional controller role and stepping out of the box to identify areas where the controller can continue to add strategic value to their organizations. Within this segment of our controllership series, we will discuss the area of inventory. This specific segment in the first part of a two-part series on inventory. We explore how the controller can move these responsibilities into more of a strategic role.
This course takes a look at some of the typical concepts and duties involved in the inventory function that is sometimes viewed as operational roles. We explore how these areas are strongly tied to the importance of the controllership role and how the controller can add value in each area.
Below courses are currently available on the site:
- The Controllership Series: The Controller Function - Elevating the Role
- The Controllership Series: The Controller Function - Strategic and Annual Planning
- The Controllership Series: The Controller Function - Cash and Investments
- The Controllership Series: The Controller Function - Inventory Process Part 1
- The Controllership Series: The Controller Function - Inventory Process Part 2
- The Controllership Series: Financial Statement Preparation and Presentation
Learning Objectives
- Explore the basics of inventory.
- Identify and understand inventory terms.
- Identify and understand the purpose and importance of inventory management systems.
- Advantages.
- Disadvantages
- Explore and examine the controller’s strategic role in inventory.
- Exploring management of metrics.
Last updated/reviewed: August 20, 2023
- 1. Auditing Financial Statements Part I: An Overview of The Financial Statement Audit
- 2. Equipment and Depreciation
- 3. Goodwill Impairment Basics (Text Based Course)
- 4. Segment Reporting - A Detailed Review (Text Based Course)
- 5. New IIA Global Internal Audit Standards – Overview and Contrast to 2017 International Professional Practices Framework
- 6. Auditing Financial Statements Part III: Internal Controls and Fraud Controls
- 7. The Controllership Series: The Controller Function - Inventory Part 1
- 8. Revenue Recognition (ASC Topic 606): Scenarios For Transaction Price And Recognize Revenue
- 9. Fraud Risk - Complying with Minimum Audit Requirements
- 10. Anti-Money Laundering - Understanding the Process
Included In Certifications
This course is included in the following Certification Programs:
20 CoursesThe Controllership Series Certification
- The Controllership Series: The Controller Function - Elevating the Role
- The Controllership Series: The Controller Function - Strategic and Annual Planning
- The Controllership Series: The Controllers Role in Financial Forecasting
- The Controllership Series: Future Role of the Controller – Part 1
- The Controllership Series: Future Role of the Controller – Part 2
- The Controllership Series: The Controller Function - Cash and Investments
- ASC 842 Accounting for Leases - Deep Dive
- The Controllership Series: The Controller Function - Inventory Part 1
- The Controllership Series: The Controller Function - Inventory Part 2 - Inventory Valuation, Physical Inventory Methods and Inventory fraud
- The Controllership Series: Overhead, Direct and Indirect Costs and Allocation Methods
- The Controllership Series: Financial Statement Preparation and Presentation
- The Controllership Series: The Controllers Role in the Procurement Function
- The Controllership Series: The Role of The Controller in ESG
- The Controllership Series: The Controllers Role in Pro Forma Financials
- The Controllership Series: The Controllers Role in Data Analytics and Big Data
- The Controllership Series: Introduction to the Financial Close Process
- The Controllership Series: Managerial Accounting Basics and Cost Principles
- The Controllership Series: Sales, Collections and Customer Credit
- The Controllership Series: Addressing Cash Flow and Forecasting Uncertainty
- Tools for The Controllership Series Certificate
32 Reviews (176 ratings)
Reviews
Anonymous
(Compass Consultant)
Very helpful refresh on the basic inventory principals and ratios and how a controller can leverage to improve and enhance their role. Also, learning how to team with inventory management and the various systems that can be put in place to effectively manage.
Anonymous
()
This is a great course to get an idea of what the Controller's role is in the inventory process. You'll likely find out the controller plays an immense role in this process. Also, there's plenty of good info shared in here.
Lawrence Hirsch
(Controller at Builders design)
Part i was awesome and jumping right into part 2 INVENTORY. We can do so much from accounting to assist inventory ops and leaning more about this has been very helpful.
Thank you Lynn,
Great course,
Larry
Ryan Nedley
( at Bayer)
I thought this was a very helpful overview. I work in manufacturing controlling however there are concepts that were a good refresher and some new ideas that I can take into my role or future roles.
Anonymous
()
Really enjoyed this course talking about inventory and the controllers role. Was a good reminder of the importance of managing the inventory from the stock side and the cost side.
Anonymous
()
Good beginning inventory course that covered the basics. Instructor was knowledgeable and kept a good pace. Slides could be edited for spelling and grammar errors.
Kevin Murray
(Business Partner - Strategic Projects at The Wesson Group)
This course covers a lot of information that is related to inventory management. This is a good course for understanding the best ways to manage inventory practices.
Anonymous
(Controller)
A great deep dive into inventory, especially for a Controller who needs to stay on top of this. I recommend this course to anyone involved in inventory accounting.
Anonymous
()
I just have one suggestion. In pretty much all of these recordings, there are phone dings going off. Silence your phone. Aside from that the content is good.
Anonymous
()
good review of best practices and statistics relating to inventory management. best suited for a small to medium sized business case.
Maxwell Hassenstein
( at NeoGenomics)
my company has significant inventory and this was a good, succinct overview of how the controller is involved with inventor.
Anonymous
()
Overall Great Course! Provides a great introduction to inventory management and the controllership role's potential.
Christopher Hole
(Director of Internal Audit at Roseburg Forest Products)
Decent overview of inventory management terminology along with some ratio's likely used by many businesses.
Anonymous
()
This course was very helpful and provided a good refresher. I highly recommend this course to other CPAs!
Eric Chapin
(Accounting Manager at Stephen Gould Corporation)
I liked this course it definitely had some good inventory management tips, looking forward to part 2
Abraham Minto
( at Abraham Minto LLC)
Lynn’s Controllership Series is very comprehensive. This segment on Inventory was well presented
Alejandra Haselwood
(Controller at Anonymus)
The section on the metrics is very helpful. I will be able to use the ratios in my line of work.
Chere Bramer
(Consultant at CLBM Consulting, LLC)
Useful breakdown of strategic planning and methods to deal with inventory issues.
Anonymous
()
This was a helpful review of inventory tracking and management methods. Thank you.
Anonymous
(Controller)
I really enjoyed how I will be able to apply this knowledge in my current role.
Alan Rayman
( at Self)
This was an excellent course about the basics of Inventory. i enjoyed it a lot.
Anonymous
()
This is a good refresher or introduction to the basics of the inventory process.
Sanjay Gaur
( at Caesars General Trading Company)
Good course to understand Inventory management terms used to maintain inventory.
Anonymous
(-)
This is a good overview of inventory. I appreciate the refresher in this area.
Inna Shmukler
(Controller at Fornetix LLC)
Lots of useful information. This course is very well organized and presented.
Anonymous
(Senior Accountant)
Great review of Inventory concepts and expansions towards a Controller role!
Anonymous
(SVP)
Clear and concise content and material. Objectives of the session were met.
Mark Eason
( at BVUA)
The pages need to be numbered. I have to go thru and number the pages.
Anonymous
(Controller)
Excellent introduction course to inventory and its basics.
Sharon King
(Contractor at Self employed)
This is a good refresher course for inventory basics.
Anonymous
(Senior Manager)
Good instructor. Good review on inventory processes.
Anonymous
()
Good course and review of inventory basics... Thanks
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
It is recommended to take Other Segments of The Controllership Series courses by Lynn Fountain.
1. The Controllership Series: The Controller Function - Elevating the Role
2. The Controllership Series: The Controller Function - Strategic and Annual Planning
3. The Controllership Series: The Controller Function - Cash and Investments
4. The Controllership Series: The Controller Function - Inventory Part 1
5. The Controllership Series: The Controller Function - Inventory Part 2
6. The Controllership Series: Financial Statement Preparation and Presentation
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Lynn FountainCPA, CGMA, CRMA, MBA, Consultant, Author, Trainer
About Illumeo
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- Phone: 408-400-3993
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