A merchandising business is a business that buys goods and sells them for profit. Merchandising businesses, which include wholesalers and retailers, typically handle inventory, therefore accounting procedures exist to record the cost of goods sold or not sold. This course will provide practical information about maintaining accounts and generating financial statements specifically for merchandising businesses. Applying these accounting procedures will help keep a business in control of its goods and ultimately, its profit margin. Individuals who require knowledge of the basics of accounting, who are starting a business, who are learning to manage the accounting activities of a business, who need to review standard accounting principles and procedures, shareholders, or potential shareholders.
Training Avaliability and Delivery
This is primarily online training
This is an online eLearning or CBT training program
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Individuals who require knowledge of the basics of accounting, who are starting a business, who are learning to manage the accounting activities of a business, who need to review standard accounting principles and procedures, shareholders, or potential shareholders.
Topics
Objectives
Accounting for Purchases and Sales
recognize the benefits of applying specific accounting methods for a merchandising business.
apply the rule of debit and credit for purchase transactions, given a scenario.
apply the rule of debit and credit for purchase discount and purchase return transactions, given a scenario.
apply the rule of debit and credit for sale transactions, given a scenario.
apply the rule of debit and credit for sale discount and sale return transactions, given a scenario.Accounting for Merchandise Inventory
recognize the benefits of applying accounting methods for maintaining accurate inventory records.
identify the appropriate methods being used to account for inventory in a given scenario.
apply the steps for adjusting a business' inventory account.Completing the Merchandising Accounting Cycle
recognize the benefits of completing the accounting cycle for a merchandising company.
calculate the cost of goods sold for a merchandising compa
About Serebra Learning Corporation - Training Provider
Serebra Learning Corporation - Serebra Learning Corporation provides technology-based training solutions through a combination of Cortex, its proprietary learning management system (LMS), and a curriculum catalog with over 1,825 current courseware titles. Founded in 1987 (as FirstClass Systems, with a name change to Serebra in 2001), Serebra has over sixteen years" experience delivering e-learning solutions to both...
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