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FASB No. 151: Inventory Costs

Steven C. Fustolo, CPA

FASB No. 151, Inventory Costs is a byproduct of FASB's larger standards convergence project with the International Accounting Standards Board to develop a single set of global accounting standards. This course covers the background, requirements and implementation of FASB No. 151, Inventory Costs.

You will learn about changes that were made affecting: capitalization of abnormal amounts of idle facility expense, freight, handling costs, and wasted materials (spoilage); allocation of production overheads; and treatment of G&A and selling expenses. Examples are included throughout the course to give you practice in computing various inventory-related costs.

Course Details
Price:  $30.00
Field of Study:  Accounting
Prerequisites:  None
Level:  Overview
Course was last updated on:  09/07/06
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Library:
Learning Center Core
Accounting and Audit

Technical Requirements:
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Credit Available For: Units
CPE 2 CPE
QAS 2 CPE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

User Reviews
Reviewer: Eric M. submitted on 02/02/2010
Structure and organization of content.
Reviewer: John F. submitted on 01/04/2010
Clear explanations and good examples.
Reviewer: Mischa T. submitted on 12/19/2009
great infornation well organized
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