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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 continue our discussion on inventory from segment one. This specific segment focuses on areas of inventory valuation, the types of physical inventory methods, and inventory fraud. These areas are critical for the controller to have a strong comprehension of and also participate in the development of policies and procedures.

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 and examine inventory valuation.
  • Identify methods for inventory tracking and physical inventory procedures.
  • Discover and discuss fraud inventory controls.
Last updated/reviewed: May 4, 2022

Included In Certifications

This course is included in the following Certification Programs:

18 CoursesThe Controllership Series Certification

  1. The Controllership Series: The Controller Function - Elevating the Role
  2. The Controllership Series: The Controller Function - Strategic and Annual Planning
  3. GAAP Principles, Assumptions and Considerations
  4. The Treasury Function Part 1: Cash, Liquidity and Investments
  5. The Controllership Series: The Controller Function - Cash and Investments
  6. ASC 842 Accounting for Leases - Deep Dive
  7. Revenue Recognition (ASC Topic 606) Standard Overview
  8. The Controllership Series: The Controller Function - Inventory Part 1
  9. The Controllership Series: The Controller Function - Inventory Part 2 - Inventory Valuation, Physical Inventory Methods and Inventory fraud
  10. The Controllership Series: Overhead, Direct and Indirect Costs and Allocation Methods
  11. The Controllership Series: Financial Statement Preparation and Presentation
  12. Analyzing Financial Ratios - Leverage
  13. Analyzing Financial Ratios - Performance And Efficiency
  14. The Controllership Series: The Controllers Role in Data Analytics and Big Data
  15. The Controllership Series: The Financial Close Process
  16. The Controllership Series: Managerial Accounting Basics and Cost Principles
  17. The Controllership Series: Sales, Collections and Customer Credit
  18. Tools for The Controllership Series Certificate

12 Reviews (72 ratings)Reviews

5
Member's Profile
Lynn, i am sad as this is the last course in the Controllership series that you provide to Illumeo. An amazing journey for me over the last 48 hours doing all six session. Love them. Thank you, Larry
5
Member's Profile
In addition to LIFO and FIFO inventory valuation methods, this course gives an overview of standard cost and specific cost valuations. It was a very helpful discussion.
5
Member's Profile
Great review of the inventory process for Controllers! Provides a high lever overview of inventory valuation methods, fraud, and inventory procedures.
4
Member's Profile
I would like for the pages to be numbered. I have to go through and write the pages numbers to keep the pages in order.
5
Anonymous Author
This was a good review of the basics of inventory systems, including the control procedures.
3
Member's Profile
This is a solid overview of inventory. Related concepts are relevant and will presented.
5
Anonymous Author
thank you for another good course on controllership responsibilities and best practices.
4
Anonymous Author
This was a good refresher/introduction to the inventory process and its risks.
4
Anonymous Author
The whole controller series was very interesting and refreshed a knowledge.
5
Member's Profile
This was very helpful. I learned a lot. The presenter is great.
5
Anonymous Author
This was more comprehensive information for inventory management.
5
Anonymous Author
Enjoyable part 2 overview of Inventory areas for a Controller

Prerequisites

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  1:27Introduction to The Controller Function - Inventory Part 2
  14:15Inventory Valuation
  12:02Physical Inventory
  18:50Physical Inventory Procedures
  12:08Inventory Control Procedures
  15:50Inventory Fraud
  1:15Summary
CONTINUOUS PLAY
  1:15:47The Controller Function - Inventory Part 2
SUPPORTING MATERIAL
  PDFSlides: The Controller Function - Inventory Part 2
  PDFThe Controller Function - Inventory Part 2 Glossary/ Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM