Inventory Costing in Microsoft Dynamics NAV 2009

Code: 50225
Course duration: 2 days
Location Period
Secaucus, New Jersey (Virtual Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Palm Beach County Florida (Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Greenwich, Connecticut (Virtual Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Fort Lauderdale, Florida (Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Mid-Town New York City (Virtual Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Newark, New Jersey (Virtual Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Attend Online
01-04 09:00AM to 01-05 05:00PM
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NYC-23rd Street (Virtual Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Northern New Jersey (Virtual Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Wilkes-Barre, Pennslyvania (Virtual Instructor-Led)
01-04 09:00AM to 01-05 05:00PM
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Palm Beach County Florida (Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
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Greenwich, Connecticut (Virtual Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
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Fort Lauderdale, Florida (Virtual Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
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Mid-Town New York City (Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
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Newark, New Jersey (Virtual Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
enroll
Attend Online
02-01 09:00AM to 02-02 05:00PM
enroll
NYC-23rd Street (Virtual Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
enroll
Northern New Jersey (Virtual Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
enroll
Wilkes-Barre, Pennslyvania (Virtual Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
enroll
Secaucus, New Jersey (Virtual Instructor-Led)
02-01 09:00AM to 02-02 05:00PM
enroll
Greenwich, Connecticut (Virtual Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll
Fort Lauderdale, Florida (Virtual Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll
Mid-Town New York City (Virtual Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll
Newark, New Jersey (Virtual Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll
Attend Online
03-01 09:00AM to 03-02 05:00PM
enroll
NYC-23rd Street (Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll
Northern New Jersey (Virtual Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll
Wilkes-Barre, Pennslyvania (Virtual Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll
Secaucus, New Jersey (Virtual Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll
Palm Beach County Florida (Instructor-Led)
03-01 09:00AM to 03-02 05:00PM
enroll

Inventory Costing in Microsoft Dynamics NAV 2009

Course 50225: Two Days; Instructor-Led

About this Course

The focus of the two-day Inventory Costing course is to provide explanations of costing concepts and matters related to general inventory management concerned with the handling of goods purchased for resale in Microsoft Dynamics NAV 2009. This course has been designed to give the consultants and implementers of Microsoft Dynamics NAV with a focus on cost management a solid explanation of the principles and mechanisms on which the program is built. Based on this explanation, course participants develop confidence in how the program records and calculates all the relevant inventory costs.

Audience Profile

This course is intended for individuals on the implementation team, administrating or using the modules in Microsoft Dynamics NAV 2009. This audience typically includes individuals who will be implementing and assisting Microsoft Dynamics NAV 2009 users. Additionally, individuals responsible for training or supporting Microsoft Dynamics NAV 2009 benefit from the course.

Prerequisites

To successfully participate in the inventory costing course, participants must have passed the Microsoft Dynamics NAV Essentials test or have equivalent experience with the Microsoft Dynamics NAV application. Additionally, participants should have a background in distribution/logistics to understand the underlying principles of these businesses.

At Course Completion

After completing this course, students will be able to:
Interpret the basic inventory accounting and inventory costing concepts

  • Interpret the basic inventory accounting and inventory costing concepts
  • Explain how the value of inventory is calculated in Microsoft Dynamics NAV 2009
  • Interpret how the posting flow in Microsoft Dynamics NAV 2009 determines the cost of items, based on the defined costing methods
  • Define how the program calculates unit cost and average cost
  • Perform inventory revaluation, rounding, adjustment, and general ledger posting
  • Set up inventory costing

Course Outline

Module 1: Inventory Costing Overview
This module introduces the basic concepts and terms commonly used in inventory accounting.
Lessons

  • Inventory Costs
  • Inventory Accounting

After completing this module, students will be able to:

  • Interpret the basic concepts behind calculation of inventory value.
  • Differentiate capitalized and non-capitalized costs.
  • Understand the valuation of cost objects in relation to their direct and indirect costs.
  • Distinguish the cost flow assumptions that support the various costing methods.

Module 2: Inventory Costing Principles
This module explains in broad terms how Microsoft Dynamics NAV 2009 records the cost of goods sold through the posting process and eventually calculates the value of ending inventory.
Lessons

  • Accounting for Inventory

After completing this module, students will be able to:

  • Follow the process of recording quantity and value changes in entries.
  • Distinguish the different types of information that are recorded in item ledger entries and value entries.
  • Define how inventory values are posted in the general ledger.
  • Interpret the concept of inventory periods.

Module 3: Inventory Costing Functionality
This module provides the details as to how the program calculates the flow of cost from acquisitions to outbound transactions and how adjustments to those costs are made with the adjustment batch job.
Lessons

  • Inventory Acquisition
  • Cost of Goods Sold
  • Inventory Transfers and Returns
  • Inventory Adjustment
  • Rounding

After completing this module, students will be able to:

  • Follow the process of assigning costs to acquisitions, including unit cost calculation.
  • Interpret the flow of costs from purchases to sales for the various costing methods.
  • Interpret how various entries are applied against each other.
  • Create and remove application entries.
  • Follow the cost flow for transfers and returns.
  • Explain the purpose and functioning of the inventory adjustment batch job.
  • Define how and why the program creates rounding value entries.

Module 4: Inventory Valuation Functionality
This module explains in detail how the program calculates the value of inventory and posts that value to the general ledger, as well as how the value can be adjusted and revalued.
Lessons

  • Inventory Valuation
  • Posting Inventory Costs to the General Ledger
  • Inventory Revaluation
  • Physical Inventory

After completing this module, students will be able to:

  • Interpret how inventory value is calculated in Microsoft Dynamics NAV 2009
  • Post inventory value from value entries to the accounts in the general ledger
  • Trace G/L entries to source value and item ledger entries
  • Explain how the program handles expected costs, both in normal posting flow and in posting to the general ledger
  • Monitor the status of reconciliation between G/L and item ledger
  • Revalue inventory items using the revaluation journal
  • Perform physical inventory counting

Module 5: Setting Up Inventory Costing
This module explains how to set up the program to handle a company’s inventory costing needs.
Lessons

  • Inventory Costing Setup

After completing this module, students will be able to:

  • Set up inventory periods for a company in Microsoft Dynamics NAV 2009.
  • Set up the inventory costing options.
  • Set up individual items to use the correct costing method.

Guaranteed to Run

2018-03-20 09:00 to 2018-03-23 17:00
Palm Beach County Florida (Instructor-Led)
2018-03-19 09:00 to 2018-03-23 17:00
Secaucus, New Jersey (Virtual Instructor-Led)
2018-03-01 09:00 to 2018-03-02 17:00
Palm Beach County Florida (Instructor-Led)

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