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

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

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

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

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

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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.

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