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Joan Poulsen, Ph.D., Indiana University
– Purdue University Columbus
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Hitesh Kathuria, Ph.D., Assistant Vice President,
University Academic Affairs
Director, Office of Collaborative Academic Programs (OCAP)
Indiana University
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Captions edited 08/06/2021 by David
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Gleim is an important study aid. Use Gleim to practice quiz problems and to test your understanding of the material. This video gives you some insight into how best to use the Gleim study aid.
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Want to know more about me? - Then listen to this boring, yet short, introduction.
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For this method, calculate the average inventory cost perpetually, or at least every time there is a sale of financial statement preparation.
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With this method calculate the average inventory cost at the end of each accounting period, hence the name. (It really is not rocket science.)
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LIFO concepts applied every time we make a sale or prepare financial statements. Isn't that sweet?
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Still the dreaded LIFO method, but at least we need only apply it once a period.
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If you are watching this video, you are about to embark on a long and arduous journey. May the Force be with you.
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The sincere and heartfelt sequel to Inventory Errors Video 1.
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For a retailer of manufacturer, inventory (and its sales) is the reason they are in business. These companies therefore keep a watchful eye on inventory analysis.
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Companies must review all assets for potential impairment on every financial reporting date. The companies will then write down or write off the assets.
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Watch this video of how to develop an Indirect Method Statement of Cash Flows and the next time your roommate asks 'Does an inventory reduction result in a cash increase or cash increase,?'…
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Skip this video and complete the discussions at your own peril!
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