Author(s)
Kelen F. Camehl, CPA, MBA

Publisher:
AICPA

    Credit Info
  • NASBA Field of Study

  • Format

    On demand

  • Level

  • CPE Credit

    0

  • Course acronym

  • Prerequisites

  • Course duration

    1 Hour

Cash, Receivables, and Inventory

This course outlines U.S. GAAP accounting for the following: cash and cash equivalents; receivables, including methods used for bad debts write-offs; and inventory, including differentiation between types of inventory systems (perpetual and periodic), inventory costing methods (FIFO, LIFO, and weighted-average).
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blankTopics discussed

Cash and cash equivalents
• Receivables
• Inventory systems
• Inventory costing methods

blankLearning objectives

• Identify types of cash equivalents and accounts receivable.
• Differentiate between methods used for bad debts write-offs.
• Recall the differences between perpetual and periodic inventory systems.
• Compare FIFO, LIFO, and weighted-average inventory cost methods.
• Recognize disclosures requirements regarding inventory.

blank Who will it benefit?

Accounting and finance professionals who work for enterprises required to comply with U.S. GAAP or are interested in understanding U.S. accounting fundamentals.