Accounting – Merchandising Transactions

0 votes
Free
Accounting – Merchandising Transactions

This free online course looks at the way in which the buying and selling of goods is accounted for in the merchandising sector as opposed to the manufacturing sector. As the inventory is the focus of such businesses, managing the accounts and finance related to purchasing, trade and chain discount, transport costs and invoice terms is critical as they are the major contributors to the gross profit. Students will also learn about the differences between perpetual and periodic inventory processes, both from a physical and accounting perspective. The learner will be walked through the process of calculating the cost of paying for goods as per the invoice terms, using borrowed monies, versus the cost of paying for them on the invoice due date. The learner will see how to calculate the cost of goods sold and see an example of a classified income statement used to calculate the net profit for this sector. This free online accounting course will be of great interest to entrepreneurs and business professionals who would like to better understand the management of stock and related cash flow for the wholesale and retail sectors, and to any learner who is interested in accounting as a future career.<br />

Categories: Business

Comments

Alternatives

-- no alternatives found for the course --
If you know any alternatives, please let us know.

Prerequisites

-- no prerequsites found for the course --
If you can suggest any prerequisite, please let us know.

Paths

No Paths inclusing the course. You can build and share a path with this course included.

Certification Exams

There are exams from independent organizations where you can get certification after completion of the course. t k='certificationexamsallprov' g='dir' p1=$course.vname}

1 0

The Excelsior College Examination in Financial Accounting measures knowledge and understanding of material typically taught in a l…

Details

The Financial Accounting examination covers skills and concepts that are generally taught in a first-semester undergraduate financ…

Details


Similar courses

Courses related to the course subject

For any business or organization, the need to control and monitor cash transactions to ensure the efficient operation of the busin…

Merchandising retailers and wholesalers use inventory costs to calculate the cost of goods sold as these are a major expense affec…

In this course you will learn how to account for and manage receivables and payables. For the receivables you will learn how to ca…

13 0 0

A series of 17 videos describing the essential ideas typically covered in a university-level accounting principles cours…

16 0 0

In this free online accounting course you will be introduced to accounting and its use in making business decisions. You will lear…

This course introduces the basic financial statements used by most businesses, as well as the essential tools used to prepare them…

2 0 0

Gain a marketable new skill by learning the basics of double-entry bookkeeping, financial reporting, and more.

This course introduces the body of theory underlying accounting procedures. It puts the core practices and principles, covered in…

This course examines the underlying concepts, processes, and accountability function of accounting and the scientific foundation f…

Details:

Let us know when you did the course Accounting – Merchandising Transactions.

Started on: Completed on:
Your grade (if any):
Comments:

Add the course Accounting – Merchandising Transactions to My Personal Education Path.

Start the course on:
Duration of study:
Notes:

Successfully added to your path.

View your path

Select what exam to connect to the course. The course will be displayed on the exam page in the list of courses supported for certification with the exam.


Notes about how the exam certifies students of the course (optional):