Accounting for Merchandising Operations (CPE Course)

CPE Credit: 1 hour

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $15

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Course Description
There are several unique accounting issues associated with a merchandising operation. The accountant needs to be well-versed in the flow of costs through the inventory system, transactions relating to the purchase and sale of merchandise, gift cards, sales taxes, and more. The Accounting for Merchandising Operations course addresses all of these topics, and provides examples to enhance the reader’s understanding of each one.

Author: Steven Bragg

Course Number: AC1142

Learning Objectives

  • Recall the inventory costing systems that a merchandising operation might use.

  • Identify the controls used to account for merchandise purchases.

  • Specify the accounting used for purchase returns, discounts, and allowances.

  • Specify the accounting used for sales returns, allowances, discounts, and coupons.

  • Recall the circumstances under which a merchandising operation must record a loss contingency.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: January 2024

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.