Accounting for Merchandising Operations

1 Credits: Accounting


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Accounting for Merchandising Operations

Course Level
CPE Credits

1 Credits: Accounting

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.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • 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.
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Course Specifics

Course ID
Revision Date
March 20, 2024

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …